shubhankar chandra

Hkwyks lHkh dks exj ekWa&cki dks Hkwyuk ugha,

midkj vxf.kr g,Sa muds bl ckr dks Hkwyuk ugha,

iRFj iwtsa dbZ rqEgkjs tUe dh [kkfrj,

iRFj cu dHkh ekWa&cki dk fny dqpyuk ugha,

eq[k dk fuokyk ns vjs ftUgksus rqEgs cM+k fd;k,

ve`r fiyk;k rqedks, tgj muds fy, mxyuk ugha,

fdrus yM+k, ykM+, vjeku Hkh lc iwjs fd, ,

iwjs djks vjeku muds, ckr ;s Hkwyuk ugha,

yk[kksa dekrs gks Hkys, ekWa&cki ls T;knk ugha,

lsok fcu lc jk[k gS, en esa dHkh Hkwyuk ugha,

lUrku ls lsok pkgks, lUrku cu lsok djks,

tSlh djuh oSlh Hkjuh, U;k; ;g Hkwyuk ugha,

lks dj Lo;a xhys esa, lqyk;k rqEgsa lw[kh txg,

ekWa dh vehe; vkWa[kksa dks Hkwydj dHkh fHkxksuk ugha,

ftlus fcNk, Fks Qwy gjne rqEgkjh jkgksa esa,

ml jkgcj dh jkgksa ds daVd dHkh cuuk ugha,

/ku rks fey tk,xk exj ekWa&cki D;k fey ik,axs,

iy&iy mu ikou pj.kksa dh pkg dHkh Hkwyuk ugha,

Introduction:-

MIXED ECONOMY

Mixed economy is a mixture of capitalism & socialism. The mixed economy tries to avoid the drawbacks occurred due to the extremeness of the pure capitalism & pure socialism. It makes the middle path between the capitalism & socialism. In this system, some of the economic activities are fully owned & controlled by the government instead of all economic activities like the socialistic economy. In mixed economy, both the private sector & public sector co-exist. Mixed economy reduces the inequality of income. Due to progressive taxation policy, (income tax at higher rates at the higher slabs of income) income from rich people is withdrawn. Due to increased expenditure on public utilities & services, economic benefits to the poor people are provided.

In the on-going era, we don’t find pure capitalism in any country of the world. Now-a-days, the interference of government & its control over the economic fields has increased, even in the countries having capitalistic economy. Today socialistic countries are also accepting the role of economic freedom & are providing the individuals the right to own private property & gain more assets. In the mixed economy, private sector is operated by the price mechanism. Government takes the decisions related to production & price in the public sector.

As the private sector co-exists with the public sector, it is free to develop itself. The government adopts the licensing system to regulate the private sector so that it may work in the national interest. Consumers are the sovereign body in economy & the production companies produce the commodities according to the choices of the consumers. In this economy, labors are saved from being exploited by the capitalists as the government passes several factory acts, minimum wages act & restricts the employment in the hazardous industries. In mixed economy, the monopolies are controlled & regulated by the government in the public interest.

It can be said that almost all the countries of the world are proceeding towards the acceptance of mixed economy.

MIXED ECONOMY IN TERMS OF INDIA

India accepted the policy of mixed economy after independence. In 1948, India declared itself a mixed economy for the very first time through the Industrial Policy Statement & it was later confirmed by the Industrial Policy Statements of the years 1956, 1977 & others. The Industrial Policy Resolution of 1948 categorized the Indian industries mainly into four classes: -

· Exclusively government policy;

· Government controlled sphere;

· Industries subject to state regulation & control; &

· The rest industrial field was left for the private sector.

The Industrial Act, 1951 was passed to control & regulate private industrial enterprises.

Features of Indian economy due to which it is regarded as a mined economy:-

1. Multiple Sectors: - Different sectors such as private sector, public sector, joint sector & co-operative sectors are found in a mixed economy & since all the sectors are found in the Indian economy; therefore it is called a mixed economy.

2. Nationalization: - Government takes the control over certain occupations of public importance by nationalizing them.

Ex. Nationalization of banks (14 in 1969 & 6 in 1980.) & some of the coal, textiles, transport etc.

3. Planning System: - Like socialistic economy, mixed economy has also a planning system, but it is different from that of the socialistic economy. In this economy, plans are formulated by the planning commission to manage & control the public & private sectors.

4. Government Subsidy & Control: - In mixed economy, at one hand sufficient subsidies are provided by the government to promote the useful activities for the society while at the same time on the other hand, activities harmful for the society are checked time to time & controlled.

5. Economic Policies: - several economic policies like monetary, fiscal, wage etc. are brought into force. Progressive taxation policy is adopted.

6. Social Welfare: - All policies & decisions are made with a view regarding the idea of social welfare but private profit is also not ignored.

7. Controlled Price System: - price mechanism (interaction of demand & supply) is neither completely free nor completely restricted. The minimum & maximum prices of commodities are fixed by the government, only for certain commodities price is fixed according to price mechanism.

Is mixed economy suitable for India?

Since a mixed economy tries to include the good features of both the capitalistic & socialistic economies & avoids their evils, it may be regarded as the most suitable economic policy for India. In other words, it may be called the Golden Path towards the development & growth of the nation. In my opinion it is the best economy for a democratic country like India. By following this economy, India has achieved many milestones in the terms of economic growth & development, but many more are remaining yet uncovered.

Mixed economy is suitable for India because as public & private sector function side-by-side, their combined efforts lead to rapid economic growth. Resources are utilized efficiently & their wastage is minimized. Since individuals have right to own private property & law of inheritance is applicable, some people get richer & richer while public sector tries to provide economic facilities to general people, due to which inequality of income is reduced. The planning commission of India makes policies for developing every region of the economy. In this way every region such as agriculture, education etc. is covered for growth. Due to the mixed economic policy of India, individuals have been provided the right to own private properties & law of inheritance is applicable, people work more to earn more which finally leads to rapid development in the fields regarding like agriculture, industries & other services.

Due to the following aspects of mixed economy in the context of development of India, we see that mixed economy is the best economy rather than any other economy like capitalistic or socialistic economy, as applicable to India

shubhankar chandra

सोमवार, 26 दिसंबर 2011

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