MIXED ECONOMY #JKSSB

 

It is an economic system in which the government and the private sector share economic control.

It is said to as the "golden medium" of capitalism and socialism.

systems of economics

The concept of a mixed economy is relatively new, having gained popularity in recent years.

Since the second half of the twentieth century, it has risen to prominence.

Under this arrangement, the public and private sectors coexist. Industries

Defense, atomic energy, and money are all areas of strategic importance.

public utilities such as trains and roads, as well as goods and heavy industries

The public sector is in charge of power, among other things.

Consumer goods are mostly produced by the private sector.

goods, Agriculture (including plantations), external trade, and other activities are subject to government regulation. The government, on the other hand, sees both the public and private sectors as equally vital.

There is considerable freedom to own private property and pick one's own occupation.

A mixed economy maximizes societal welfare by trying to reduce income and wealth inequalities, as well as eliminate unemployment and poverty. Subsidies, reduced regulatory burdens, and easier financial access are all given to the public sector. The public sector, which is administered by the state bureaucracy, becomes a financial burden on the government. Extraordinary nepotism, red tape, and corruption.

Plus one point for the Great Depression of 1929.

The Independence Day celebrations in India were a watershed moment in the country's planning history.

In 2014, the Planning Commission was abolished and replaced.

In 2015, the NITI Aayog released a report.