Q. Which one of the following statements correctly describes the term ‘socialism’ with Indian characteristics?
Exp) Option d is the correct answer.
Option d is correct. The Indian brand of socialism is a ‘democratic socialism’ which is a blend of Marxism and Gandhism where both public and private sectors co-exist. Democratic socialism aims to end poverty, ignorance, disease and inequality of opportunity. Jawaharlal Nehru described democratic socialism as one, which will be based on political liberty, equality and tolerance. Under democratic socialism we could maintain individual freedom and initiative with centralized-social control and planning of the economic life of the people.
| Important Tips
Communistic socialism is also known as ‘state socialism’. Communistic socialism involves the nationalization of all means of production and distribution and the abolition of private property. |
