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Question : The planned economy in India is based on which system?

Option 1: Capitalist system

Option 2: Traditional system

Option 3: Command system

Option 4: Socialist system


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Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 5th Jan, 2024

Correct Answer: Socialist system


Solution : The correct answer is the Socialist system.

A planned economy is a type of economic system where the distribution of goods and services or the investment, production the allocation of capital etc. are focussed. The socialist system is the foundation of the planned economy in India.

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