Economic planning by which both the State and the private sector played a role in development was called a ____ model.

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Economic planning by which both the State and the private sector played a role in development was called a mixed economy model. After independence, creating a modern industrial base and freeing its people from poverty were two of India's main goals. In order to aid in the creation and execution of successful economic development plans, the government established the Planning Commission in 1950. The mixed economy concept was largely accepted. Here, both the public and private sectors would contribute significantly and in a way that was complimentary to boost output and create jobs. The Planning Commission was to specify what these tasks were to be, including which sectors should be started by the State and which by the market and how to strike a balance between the various regions and states.

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