During which five year plan did India opt for a mixed economy?

Correct option is A

The correct answer is (a) Second Five Year Plan.
· India opted for a mixed economy during the Second Five Year Plan (1956-1961), which was spearheaded by economist P.C. Mahalanobis.
· The plan aimed to promote both the public and private sectors simultaneously, laying the foundation for India's mixed economic model.
· This approach sought to combine the benefits of both capitalism and socialism, ensuring that while the state controlled key industries and sectors for public welfare, private enterprises were also encouraged to drive economic growth and development.
Additional Knowledge:
· Fourth Five Year Plan: Focused more on reducing income inequality and achieving self-reliance, but the mixed economy concept was already in place.
· First Five Year Plan: Focused on agriculture and infrastructure but did not emphasize the mixed economy model extensively.
· Third Five Year Plan: Aimed at making India self-sufficient in food grains and accelerating the growth of industries, but the mixed economy model had already been adopted.