Question
Download Solution PDFIn which year was the first Industrial Policy based on the mixed economy principle announced in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFIn 1948 the first Industrial Policy was presented in the parliament by then Industry Minister Dr. Shyama Prasad Mukherjee.
- The policy properly has a demarcation between the areas of operation vis-a-vis the private and public sectors in the country.
- Indian economy is called a mixed economy.
- When a system combines aspects of both capitalism and socialism it is called a mixed economy.
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