when mixed economy adopted in india
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n a mixed economy, private and public sectors go side by side. The government directs economic activity in some socially important areas of the economy, the rest being left to the price mechanism to operate.
Before Independence, the Indian economy was a ‘laissez-faire’ economy. But post-independence, she adopted the mixed economy system.
Thus, it is clear from the following arguments that our economy is a mixed economy.
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A mixed economy is an economy where businesses are state owned and privately owned as well.
After the independence, India turned into a mixed economy, we can say this due to coexistence of public and private sectors within the economy of India. The 1948 and 1956 industrial policies formulated by the Indian government has made this coexistence possible.
The second Five Year Plan had pointed out that both the sectors have to function jointly in order to achieve maximum economic growth. Public investment led to growth of the private sector.
After the independence, India turned into a mixed economy, we can say this due to coexistence of public and private sectors within the economy of India. The 1948 and 1956 industrial policies formulated by the Indian government has made this coexistence possible.
The second Five Year Plan had pointed out that both the sectors have to function jointly in order to achieve maximum economic growth. Public investment led to growth of the private sector.
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