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      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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