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Indian type of Market Economy

  • Planning Commission advocates the continuance and effectiveness of Public sector and people participation.
  • Some of the industries and sectors are open to private sector giving greater autonomy.
  • Economic reforms pushed the nation from the planned economy to market economy.
  • New Economic Policy came up in 1991.
  • There is disinvestment of the PSUs, liberalization, privatization and globalization.
  • Still India is not full market oriented economy as some key sectors are still with Govt.
  • Planning in India derives its objectives from Directive Principles of State Policy.