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Discussion

The concept of mixed economy envisages

  • A.Integrated and balanced economic development
  • B.Co-existence of public and private sectors
  • C.Balanced development of agriculture and industry
  • D.Equal importance to economic and social values

Answer: B

It envisages the coexistence of the public and private sectors.

The state owns and runs part of the economy, chiefly the commanding heights, while private enterprise operates in the rest, and the two are coordinated by planning. India adopted the model in the Industrial Policy Resolutions of 1948 and 1956.

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