Question

In which five year plan India opted for a mixed economy?

• A. 1st
• B. 2nd
• C. 3rd
• D. 4th

Answer 1

Answer:

B. 2nd

• India officially adopted the model of a mixed economy during the Second Five Year Plan (1956-1961). This plan emphasized rapid industrialization with particular focus on heavy and basic industries. The mixed economy model combines elements of both capitalism and socialism, where the public sector and private sector coexist, each serving different objectives. The Second Five Year Plan, influenced by the Nehru-Mahalanobis model, focused on developing public sector industries while allowing private enterprise to operate in other sectors.