Practicing Success
Which model of development has been followed in independent India? |
The Capitalist model The Socialist model Mixed Economy None of the given. |
Mixed Economy |
India 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’. |