Question

In the post-independence era, the policymakers of India adopted an economic system that fundamentally implies the coexistence of ______ and ______.

Options

• small and large-scale industries

• small and medium-scale industries

• public and private sector

• private and foreign sector

Answer 1

In the post-independence era, the policymakers of India adopted an economic system that fundamentally implies the coexistence of public and private sector.

Explanation:

• In the post-independence era, India adopted a mixed economic system, which promoted the coexistence of the public sector (government-owned enterprises) and the private sector (privately owned businesses).
• This system aimed to combine the benefits of state-led planning for essential services with private sector efficiency, promoting economic growth while ensuring social welfare.