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    India has a mixed economy, with aspects of both capitalism and communism. The economy features a private sector focused on agriculture and industry, as well as a public sector focused on industry and services. Over time, India's economic policies have shifted from controls and a large public sector under earlier plans starting in 1956, to liberalization and encouraging foreign investment and the private sector under reforms in 1980 and 1991. The most recent plans, including the eleventh five-year plan, aim to promote growth through public-private partnerships, competition with global companies, and support for small businesses.

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    India has a mixed economy, with aspects of both capitalism and communism. The economy features a private sector focused on agriculture and industry, as well as a public sector focused on industry and services. Over time, India's economic policies have shifted from controls and a large public sector under earlier plans starting in 1956, to liberalization and encouraging foreign investment and the private sector under reforms in 1980 and 1991. The most recent plans, including the eleventh five-year plan, aim to promote growth through public-private partnerships, competition with global companies, and support for small businesses.

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    26 views1 page

    IEGC

    Uploaded by

    Meet Jivani
    India has a mixed economy, with aspects of both capitalism and communism. The economy features a private sector focused on agriculture and industry, as well as a public sector focused on industry and services. Over time, India's economic policies have shifted from controls and a large public sector under earlier plans starting in 1956, to liberalization and encouraging foreign investment and the private sector under reforms in 1980 and 1991. The most recent plans, including the eleventh five-year plan, aim to promote growth through public-private partnerships, competition with global companies, and support for small businesses.

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    of 1

    Economy:

    1. Capitalist Market freedom


    2. Communist No freedom
    3. Mixed Private + Public; Control + incentive
    India is a mixed economy; Agriculture being private; Industry and service private and public.
    Resource availability - Economic targets. Economic policies
    Overall policies Sectoral policy Monetary and fiscal balancing policy.
    Industrial policies 1956, 1977, 1980, 1991.
    1956 Controls.
    1977 Focus on small scale and cottage, increasing role of public sector, sick units.
    1980 Integrated private and public, Expansion, industrial sickness, industrial licensing policies,
    decontrolled expansion, MRTP and FERA, Monopoly Restrictive Trade Practices; Foreign Exchange
    Regulation Act.
    1991 Liberalization decontrol policy; reducing the role of public sector, expanding and encouraging
    role of private sector, motivating foreign technology, Encouraging FDI; Competition act vs MRTP act.

    Encourage foreign capital.

    Social security policy

    Mid term review of the Eleventh plan, the tenth plan achieved 9% growth, actual 2.6% growth due to
    global financial crisis 2009.
    Objective of the policy
    Private Public Partnership policy PPP
    Competition with global companies
    Small and micro enterprises face competition.

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