Q. What Kind of economy is in India?
Answer: Mixed economic system
Notes: India has Mixed Economic System. A mixed economic system combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital and also allows governments to interfere in economic activities in order to achieve social aims. In India, Public sector and Private sector coexits and works for improving the economy of the country. Industrial policies of 1948 and 1956 formulated by the Indian government have made the provision of such coexistence.