Indian Economy:Capitalist vs Socialist

India has a mixed economy which contains the features of both Capitalist Economy and Socialist Economy. Rich people are mostly business people who want to make India a capitalist economy but on the other hand  the politicians and bureaucrats who are the representatives of the people of India want to make India a Socialist Economy.Thus it maintains the feature of  both economy. Generally they fight from each other and some time co-operate each other. Politicians works through bureaucrats and controls the business people.

The business people’s  aim is to  generate profit and building their wealth. They want  less interfere from the government in running their business activities smoothly. They hesitate to do business in those area where  is  no chance of profits or chance of loss but ready to do their business where  is chance of  profits. Government keeping  social motives in mind  attracts business people by offering  subsidies and relaxation to run their businesses in Rural areas or where government deem fit for the development & welfare of the people.

Our India is divided into upper class, middle class and lower class people. As there are  few rich  and other are middle class &  lower class, like in a company owners are of  upper class, Managers , officers and supervisors are of  middle class and other workers are of lower class.

Upper class people have access of almost every amenities which are require for the survival, luxury and growth. Middle class  people have to work hard to have basic and luxurious amenities. But lower class even after  hard work is unable to access basic amenities. They have meager mean for growth and do not get the opportunities on time and thus lead to a poor life.

So they always fight for the survival. At last  they have to depend on the mercy of  upper, middle class and good governance  by the  government because “The government is the people for the people”. Thus the government has a duty, responsibility &  accountability to take care of  the interest of all classes without prejudice to other otherwise there is no mean of Mixed Economy. It would be possible only if the government adhere on transparency and good governance in catering the needs of both Capitalist and Socialist.

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