Practicing Success
What is the type of economy in India ? |
Market Economy Mixed Economy Planned Economy Non-Planned Economy |
Mixed Economy |
The correct answer is option (2) : Mixed Economy A mixed economy incorporates elements of both market-based and planned economic systems. In India, while there is significant private sector participation and market-driven activities, the government also plays a crucial role through regulation, planning, and public sector enterprises. Therefore, India's economic system is best described as a mixed economy.
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