Business Environment, 1st Edition by Pearson

In this chapter, we study the basic details of a mixed economy, its

characteristics, merits and demerits with particular reference to the

Indian economy. After reading this chapter, you will be able to under-

stand the framework, the policy perspectives and the extent to which

the mixed economy system has served the interests of the economy

and the people of this country.

When India attained independence, our political leaders had to

arrive at a consensus on the kind of economic system to be adopted

to achieve rapid economic growth and reduce the disparity in the

income of the rich and the poor. The per capita income of an Indian

then was ...