Why is India known as a socialist country ...explain in 2 lines using simple word's for class7th
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India has a great number of poor people who can not afford private hospitals, schools and other basic amenities of life, for that reason government provide these services for nominal charge (well, Ideally it should be nominal, if you don't count the bribe), that money comes from people who are in better condition. This is the reason many people see India as a socialist country.
IMHO, It is not right to call India socialist country now, but we used to have a complete socialist system till 90's. As happened with most socialist states, with a corrupt government workforce, the economy got crumbled and PM Narasimha Rao's government opened the Market and started economic reforms.
The reason India followed socialist system has more to do with our Leadership. Pandit Nehru was a socialist and he thought for a newly Independent country with a lot of poor people, socialist system would work best (which was not a bad idea at that time, since USSR was showing good progress ). This was followed by later PM's.
The system worked quite well for few initial years but with increasing population and corruption in government bodies, it started crumbling and now we are more of a mixed economy with a growing influence of capitalist system (which I like personally).
IMHO, It is not right to call India socialist country now, but we used to have a complete socialist system till 90's. As happened with most socialist states, with a corrupt government workforce, the economy got crumbled and PM Narasimha Rao's government opened the Market and started economic reforms.
The reason India followed socialist system has more to do with our Leadership. Pandit Nehru was a socialist and he thought for a newly Independent country with a lot of poor people, socialist system would work best (which was not a bad idea at that time, since USSR was showing good progress ). This was followed by later PM's.
The system worked quite well for few initial years but with increasing population and corruption in government bodies, it started crumbling and now we are more of a mixed economy with a growing influence of capitalist system (which I like personally).
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