Which of the following statements is/are correct regarding Indian Soci...
Statement 1 is incorrect: Indian socialism is a ‘democratic socialism’ (not a State Socialism) which supports the ‘mixed economy’ where both public and private sectors co-exist.
Statement 3 is incorrect: The new economic policy (1991) of liberalisation, privatisation and globalisation has, diluted the socialist credentials of the Indian State.
Indian Socialism
- Indian socialism is a blend of Marxism and Gandhism, leaning heavily towards Gandhian socialism’.
- Even before the term was added by the 42nd Amendment in 1976, the Constitution had a socialist content in the form of certain Directive Principles of State Policy.
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Which of the following statements is/are correct regarding Indian Soci...
**Indian Socialism**
Indian socialism is a complex ideology that has evolved over time in the Indian political landscape. Here are the correct statements related to Indian socialism:
**1. Indian socialism is the form of State Socialism:**
- Indian socialism is often described as a form of State Socialism where the state plays a significant role in the economy by owning key industries and regulating private enterprise.
- The government intervenes in the market to ensure social justice, reduce income inequality, and provide basic necessities to all citizens.
**2. It is highly influenced by Gandhian Socialism:**
- Indian socialism has been deeply influenced by the principles of Mahatma Gandhi, known as Gandhian Socialism.
- Gandhian Socialism emphasizes self-reliance, village-based economy, decentralization, and community welfare. These principles have shaped the socialist values in the Indian polity.
**3. Economic Reforms of 1991 strengthen the Socialistic values of Indian Polity:**
- Contrary to the statement, the economic reforms of 1991 in India, also known as liberalization, privatization, and globalization (LPG), marked a shift away from traditional socialist values.
- These reforms aimed at opening up the Indian economy, reducing government control, promoting private enterprise, and integrating India into the global economy. This move towards a more market-driven economy diluted the socialist values in the Indian polity.
Therefore, the correct answer is **2 only** as Indian socialism has been influenced by Gandhian principles but has seen a shift away from traditional socialist values post the economic reforms of 1991.
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