+1 vote
in Economics by kratos

Which two models of modern development were there before India on the eve of independence? Which model did India decide to choose and why?

1 Answer

+4 votes
by kratos
 
Best answer

Two models of development before

(i) India *** Capitalist model in US and Europe and

(ii) socialist model in USSR.

India had two wings one very impressed with the USSR socialist model - Nehru and the **** party of India as they saw ** alleviation and social economic redistribution the prime concern and primary responsibility of the Government. India adopted the Mixed model a planned economy with State intervention in the Public sector which had the large industries

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