Evolution of Mixed Economy Concepts in India
Explore the evolution of mixed economy concepts in India, from the Industrial Policy Resolutions to the positive economic role of the state. Understand the co-existence of public and private sectors, combined features of capitalism and socialism, and the significance of economic planning in a mixed economy.
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Presentation Transcript
EVOLUTION OF THE CONCEPT LOREM IPSUM Capitalism Socialism Socailisation of means of production No private enterprise- based on self interest, private property State control Free enterprise Economic liberty Non-interference of the state Invisible hand Forces of demand and supply www.presentationgo.com
Mixed Economy- Meaning Mixed economy implies demarcation and harmonisation of the public and private sectors. LOREM IPSUM market mechanism is not permitted and the government intervenes or regulates the private sector in such a way that the two sectors become mutually re-inforcing. A mixed economy represents an achievable balance between individual initiative and social goals. There is a commitment on the part of both the sectors to national objectives and priorities. www.presentationgo.com
EVOLUTION OF THE CONCEPT Compromise- state intervention free enterprise and Great depression and J.M Keynes Karl Max and Rise of communist Regimes in USSR, Vietnam, Cuba etc. China, Classicals in the 18th and 19th Century www.presentationgo.com
EVOLUTION OF MIXED ECONOMY IN INDIA Industrial Policy Resolution of 1980 Industrial Policy Resolution of 1977 Industrial Policy Resolution of 1956 Beginning of Economic Planning www.presentationgo.com
India as a Mixed Economy Positive Economic Role of the State 01 Mixed Economy Co-existence of Public and Private Sectors 02 Mixed Economy Combined features of Capitalism and Socialism 03 Mixed Economy www.presentationgo.com
Planning in a Mixed Economy Positive Economic Role of the 01 Co-existence of Public and Private Sectors 02 Combined features of Capitalism and Socialism 03 www.presentationgo.com
