Question

Mixed economy model of economic development was introduced in india by

Answer 1

Mixed economy: An economic system where both private and a state monopoly coexist. All modern economies are mixed. The means of production are shared and is also called as dual economy.

In India, the British government introduced economic systems of free enterprise and capitalistic-type.

Indian economy is a mixed economy because it is neither completely socialist nor capitalist.

So, mixed economy model of economic development was introduced in India by the British during their rule.

Answer 2

The mixed economy model was introduced in India by the British government.  

Explanation:

• Adam Smith is considered the father of the mixed economy model.  

• India adopted the mixed economy model since after independence the socio-economic condition of India was such that it was not possible for either public or private sector to carry on the responsibility for the economic growth and development of the country.  

• After the introduction of the mixed economy, there was considerable growth in the economy with a rise in the industrial sector and the growth of roads and rail network.

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