Discussion
The Indian economy is
Answer: C
Correct answer: Mixed
India adopted a mixed economy, in which a public sector holding the commanding heights operates alongside private enterprise. The Industrial Policy Resolutions of 1948 and 1956 gave it form, reserving defined industries to the State while leaving others to private capital.
It is therefore neither capitalist nor socialist in the pure sense, though the balance has shifted markedly towards the private sector since the liberalisation of 1991. "Federal" is not an answer to this question at all: it describes the constitutional distribution of power between the Union and the states, not the ownership structure of the economy.
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