With reference to Indian economy which of the following statements is are correct 1 The produc...........

Economic and Social Issues Nature of Indian economy

With reference to Indian economy which of the following statements is/are correct?

1. The production, distribution and supply of the goods and services are only owned by state.

2. India opted mixed economy after post-colonial rule

3. The value of all final goods and services produced within country during one year irrespective of produces is resident or non-resident is called GDP

Select the given code:-

Both 1 and 3

Both 2 and 3

Only 3

None of these

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Explanation:

1st and 2nd statements are correct.
India is a mixed economy combining features of both capitalist market economies and socialist command economies during 8th FYP (1992-1997).