Question

Why is India called planned economy ?

Answer 1

Answer:

India is known as the planned economy because it is a developing country

Explanation:

Answer 2

What is called planned economy?

A planned economy (also called a command economy) is an economic system in which a government or ruler makes most or all of the important decisions about the production and distribution of goods and services in the society.

India is known as the planned economy because it is a developing country and hence the investment of the capital good is done according to the production plans and the economy-wide economics.

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