Can Indian economy be classified as a mixed economy?

Yes Indian economy can be regarded as a mixed economy. The developing countries like India have adopted the mixed economy model in order to accelerate the pace of economic development. read more

According to Murad mixed economy is the economy in which both govt and private individuals exercise economic control. It can be regarded as a golden mixture of capitalism and socialism. Under this system there is a freedom of economic activities and govt interferences for the social welfare. read more

ADVERTISEMENTS: In a mixed economy, private and public sectors go side by side. The government directs economic activity in some socially important areas of the economy, the rest being left to the price mechanism to operate. Before Independence, Indian economy was a ‘laissez faire’ economy. read more

Rapid economic development happens to be one of the primary objectives of all developing economies and India is not an exception. This is possible mainly through the accumulation and proper use of capital. read more