Question

    The Industrial Policy Resolution (IPR) of 1948 proposed

    which kind of economic System in India?
    A Capitalist Correct Answer Incorrect Answer
    B Socialist Correct Answer Incorrect Answer
    C Marxist Correct Answer Incorrect Answer
    D Mixed Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Industrial Policy Resolution (IPR) of 1948 proposed a mixed economy. The political leadership believed that since planning was not possible in a market economy, the state and public sector would inevitably play a leading role in economic progress.

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