India has a mixed economy which contains the features of both Capitalist Economy and Socialist Economy. … Thus it maintains the feature of both economy.
Is India a capitalist country?
In terms of economy, India is a fastest growing economy and a fast-developing country. It is neither a socialist economy nor a capitalist economy it’s a mixed economy. … The Constitution of India does mention SOCIALISM like most of the liberal democracies around the world.
What type of economy is India?
Today, India is considered a mixed economy: the private and public sectors co-exist and the country leverages international trade.
“The UK has a particularly extreme form of capitalism and ownership,” he said. “Most ownership in the UK is in the hands of a large number of institutional investors, none of which have a significant controlling shareholding in our largest companies.
Democratic Socialist Countries 2021
In theory, based on public benefits, socialism has the greatest goal of common wealth; Since the government controls almost all of society’s functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes.