What model of development was adopted by India after the Independence?

Mixed Economy Model

The correct answer is Option 1 - Mixed Economy Model

India opted for a mixed economy after independence. It contained the features of both socialism and capitalism. Thus, in India, the public and private sectors co-exist and are complementary to each other.

More information:

India did not follow any of the two known paths to development - it did not accept the capitalist model of development in which development was left entirely to the private sector, nor did it follow the socialist model in which private property was abolished and all the production was controlled by the state. Elements from both these models were taken and mixed together in India. That is why it was described as ‘mixed economy’.Much of the agriculture, trade and industry were left in private hands. The state controlled key heavy industries, provided industrial infrastructure, regulated trade and made some crucial interventions in agriculture. A mixed model like this was open to criticism from both the left and the right.