Introduction

Indian Governance and Polity(UPPCS)

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Indian Economy - Understanding the basics of Indian economic system

The "libertarian" political ideology advocates for:

strong government control over the economy and individual freedoms.

limited government intervention and maximum individual liberties.

social equality and wealth redistribution.

a mix of conservative and liberal policies.

Libertarianism is a political philosophy that prioritizes individual liberty, limited government intervention, and the protection of individual rights and freedoms.
o It holds that individuals should have the freedom to make their own choices and live their lives as they see fit, as long as they do not infringe upon the rights and freedoms of others.
o Libertarianism advocates for minimal government involvement in both personal and economic matters.
• In the realm of personal freedoms, libertarians support civil liberties, such as freedom of speech, religion, and association.
They generally oppose laws that restrict personal choices viewing them as infringements on individual autonomy.
• On the economic front, libertarians emphasize free markets and limited government intervention.
o They argue that voluntary interactions in the marketplace, without excessive regulation or central planning, lead to optimal outcomes and economic prosperity.
o They advocate for private property rights, free trade, and minimal restrictions on businesses and entrepreneurs.
• Hence option (b) is the correct answer.