Characteristics And History Of The Indian Mixed Economy Model Of Development

After India's independence in 1947, while choosing the path of economic development, the Indian government naturally chose to follow a integration of capitalist market economy and the socialist planned economy which is called "middle way"——Indian-style mixed economy development. She chose to take this way due to the political, economic, social and cultural realitiesIndian-style mixed economy model has gone through two periods: the control period , the adjustment and reform period. In the past 60 years, India's mixed economic development model shows three distinct features: progressive balance, inheritance innovative, across over. India's "small government, big society" political systems and religious and caste system and other factors contribute to the form of development of Indian-style mixed economy model.In general, after 60 years of development, the combining hybrid model of government-led inward-oriented and "import substitution" strategy is appropriate for India's economic development. In the process of economic development, government controlled too much, which hindered economic development. Rao,P. V.Narasimha's economic reforms promoted economic development, but these reforms do not depart from the Indian hybrid model of economic development track. On the condition of the global and India's economy, in the 21st century, India mixed model of economic development trends will be like this. The government reasonably led the economy; private economy dominated the public and private economy; India will combine import substitution and export-oriented development strategy .Through the causes and practice of India's mixed economic development model, this article discusses the development of India's mixed economy model features and the unique path of development of this historical analysis. And then it analyzes that India's mixed economic development model is suitable for India's economic development. And on this basis, this article makes prospects on the trend of India's mixed economy in the 21st century .