Civics

Which of the following statements best reflects the 'socialist' feature of the Preamble to the Constitution of India?


ANSWER

Government should regulate the ownership of land and industry to reduce socio-economic inequalities


SOLUTION
The 'socialist' term was added in the Constitution by the 42nd Amendment in 1976. Indian brand of socialism is 'democratic socialism'. Democratic socialism holds faith in a 'mixed economy' where both the public and private sectors co-exist side by side. Wealth is generated socially and should be shared equally by society. The government should regulate the ownership of land and industry to reduce socio-economic equality.
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Single Correct Medium Published on 28th 10, 2020
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