With reference to the nature of socialism envisioned in the Indian Constitution, which of the following statements is/are correct?
1. Indian socialism is a blend of Marxism and Gandhism, leaning heavily towards Gandhian socialism.
2. Unlike communistic socialism, democratic socialism involves the coexistence of both public and private sectors.

Select the correct answer using the code given below:

Question

With reference to the nature of socialism envisioned in the Indian Constitution, which of the following statements is/are correct?
1. Indian socialism is a blend of Marxism and Gandhism, leaning heavily towards Gandhian socialism.
2. Unlike communistic socialism, democratic socialism involves the coexistence of both public and private sectors.

Select the correct answer using the code given below:

Accepted Answer

Indian socialism is 'democratic socialism' rather than 'communistic socialism' (also known as state socialism). Democratic socialism believes in a 'mixed economy' where both public and private sectors co-exist side-by-side. As the Supreme Court has noted, Indian socialism is a blend of Marxism and Gandhism, leaning heavily towards Gandhian socialism.

Answer

Answer