After India's independence, the Communist Party of India supported which model of the economy to be followed in India?

Socialist

The correct answer is Option 3 - Socialist

After India's independence, the Communist Party of India supported SOCIALIST model of the economy to be followed in India.

On the eve of Independence, India had before it, two models of modern development: the liberal-capitalist model as in much of Europe and the US and the socialist model as in the USSR. There were many in India then who were deeply impressed by the Soviet model of development. These included not just the leaders of the Communist Party of India, but also those of the Socialist Party and leaders like Nehru within the Congress. There were very few supporters of the American style capitalist development.