Correct Answer: co-existence of public and private sectors

Solution : The correct answer is the co-existence of public and private sectors .

Adam Smith is called the father of mixed economy. The existence of both the public and private sectors within the parameters of economic planning qualifies the Indian economy as a mixed economy. It combines elements of socialist and capitalist values. There are three main categories of mixed economies: Those with a mix of public and private control, those under total governmental control, and those with only a limited amount of state influence.