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Indian Economy 1950-1990

Question

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What was a notable difference in the nature of planning model adopted by India compared with the Soviet Union?

Solution

In former Soviet Union, planning was based on the principle of statism, but in India it was based on the principle of mixed economy.

Some More Questions From Indian Economy 1950-1990 Chapter

How many plans have been completed in India so far?

Define capitalist economy.

What is a socialist economy?

What is mixed economy?

What is meant by economic growth?

What structural change undergoes with development of the economy?

Name the sectors from which the GDP of a country is derived.

On which idea is the policy of 'land to tiller' is based?

Where is the provision for economic and social planning in our Constitution?

Why is agriculture called the backbone of Indian Economy?

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