Russian revolution inspired India to set up a socialist economy. Socialism in India is a political movement founded early in the 20th century, as a part of the broader movement to gain Indian independence from colonial rule.

The revolution that inspired Indians to set up a socialist economy was the Russian Revolution.

Background of the Russian Revolution:
The Russian Revolution took place in 1917, overthrowing the autocratic rule of the Russian Tsar and establishing a communist government led by Vladimir Lenin. This revolution was influenced by Marxist ideology and aimed to create a socialist society where the means of production would be controlled by the working class.

Influence on Indians:
The Russian Revolution had a significant impact on Indian leaders and intellectuals, particularly those who were seeking independence from British colonial rule. Here's how the revolution inspired Indians to set up a socialist economy:

1. Ideological Influence:
The Russian Revolution presented a new model of governance and socio-economic system based on socialist principles. This inspired many Indian leaders, including Jawaharlal Nehru and Subhash Chandra Bose, who were influenced by socialist ideals and sought to establish a similar system in India.

2. Anti-Imperialism:
The Russian Revolution was seen as a symbol of successful resistance against imperialism and colonial domination. Indians, who were struggling for independence from British rule, saw the revolution as a source of inspiration and believed that a socialist system would help them overcome the exploitative nature of colonialism.

3. Workers' Rights and Equality:
The Russian Revolution brought attention to the rights of workers and the need for social equality. Indian nationalists, who were fighting for the rights of workers and peasants, saw the socialist model as a means to address the socio-economic disparities prevalent in Indian society.

4. National Planning and Industrialization:
The Russian Revolution showcased the potential of planned economic development and industrialization. Indian leaders believed that a socialist economy would enable the country to achieve rapid industrial growth, reduce poverty, and improve the living standards of its people.

5. Formation of the Indian National Congress (Socialist):
The influence of the Russian Revolution led to the formation of the Indian National Congress (Socialist) in 1934, which advocated for a socialist system in India. This political party played a crucial role in shaping the socialist discourse in the country and further popularized the idea of a socialist economy.

In conclusion, the Russian Revolution served as a source of inspiration for Indians who aspired to establish a socialist economy. Its principles of workers' rights, equality, anti-imperialism, and national planning resonated with Indian leaders and intellectuals, leading to the formation of socialist political parties and the integration of socialist ideals into the Indian independence movement.

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