What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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Salient Provisions Of the Indian Constitution Pertaining to Business and Economy | Indian Constitution and Business

 Indian Constitution and Business

India's Economy Draws its Sustenance from the Provisions of Indian Constitution. The Socio- Economic Objectives are clearly enshrined in the Preamble to the Constitution, Fundamental Rights and Directive Principles Of State policy.

 Fundamental Rights

  • Right to Equality
  • Right to Freedom
  • Right against Exploitation
  • Cultural and educational Rights
  • Right to Constitutional Remedies
   Note - The Right to Property is no Longer a Fundamental right; it has been retained as a constitutional Rights.

The Following are the Salient Provisions of the Constitution Pertaining to Business and Economy.

Salient Provisions Of the Indian Constitution Pertaining to Business and Economy

  • Changing Profile to Indian Economy : The Government Embraced the twin Principles of the Socialist Philosophy and political Democracy as an Ideal model for the emerging Independent India. The economic Policies From 1950 + 1970 were based on this model.
          ➡ The Government Invested heavily in steel Plants, Atomic Energy, Hydroelectric Power,                                Irrigation. 

          → India's Foreign policies Sprang From the non - aligned movement Prevented it from                                 Becoming a satellite of any Super Power.


  • Business Risk Posed by the Indian Political  System : India is the Largest Democratic Country in the World and can boast of a Pluralistic  Political Scenario. Unlike America which has only two Political Parties, India has a Plethora of active Political Parties  at the  national as well as the regional levels.
       
  • The Government is Unable to Push through economic reforms Because of  Political Opposition as in the case of Subsidies.
  • The Contradictions inherent in the Political System in India can Pose Serious threats to the success of a Business Venture. 
  • Corruption  Presents in the administrations.
Location: Shamli, Uttar Pradesh 247776, India

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