The mixed economy model of economic development was introduced by
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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.
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A mixed economic system combines aspects of both capitalism and socialism. It is a system that not only protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.
The term mixed economy gained prominence in the United Kingdom after the war, even though many of the policies associated with it were first propelled in the 1930s. Many of the supporters were associated with the British Labour Party
The term mixed economy gained prominence in the United Kingdom after the war, even though many of the policies associated with it were first propelled in the 1930s. Many of the supporters were associated with the British Labour Party
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