No products in the cart.

What is mixed economy? Why did …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

What is mixed economy? Why did india adopted mixed economy??
  • 1 answers

Yogita Ingle 5 years, 9 months ago

A mixed economy is one in which public sector (consisting of government enterprises) and private sector (consisting of private enterprises) coexist with each other. Here some important decisions are taken by the government and economic activities are by and large conducted through market. Thus both Central Authority and price mechanism play their roles in solving central problems.
In the initial years of planning, India followed the lines of being a socialist economy. Public sector was accorded a dominant role in the growth and development process. However, in the long run it was found that the public sector was plagued with inefficiencies and incurred huge losses. Moreover, excessive control on the private sector hampered their growth and the industrial sector lacked modernisation. All these factors lead to the stagnation of the Indian economy. Thus, in order to boast up growth in the country and to reduce the inefficiency in the public sector, India adopted moved towards being a mixed economy.

http://mycbseguide.com/examin8/

Related Questions

The end of bipolarity notes
  • 2 answers
Gulf War 1st and 2nd
  • 0 answers
Chinese invasion of 1962
  • 0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Download myCBSEguide App