Social Studies Write the following concept

20-Point Programme: Prime Minister Indira Gandhi announced the 20-Point Programme on 1st July 1975 and resolved to make efforts towards rapidly becoming a developed nation. The main provisions of the 20 point programme are as follows:

• Land ceiling for cities and agricultural land, equal division of wealth, minimum wages for workers, increase in water conservation schemes.
• Workers’ participation in industry, national training scheme, freeing bonded labour.
• Prevention of tax evasion, economic crimes and smuggling.
• Regulation of prices of basic necessities, improvement in the public distribution system.
• Improvement in the textile industry by developing handloom sector, waiving loans for weaker sections, housing, communication facilities, making educational equipment available to schools.

(i) In a capitalist system, the means of production are privately owned. In a socialist economy, the means of production are owned by the State in the name of the society.
(ii) A mixed economy works both in the private and the public sector.
(iii) In order to achieve economic development of modem India, we gave preference to a model of ‘mixed economy’. We can see three parts in this kind of economy:

(a) Public Sector: The industries in this sector are completely under the control and management of the government. For example, production of defence equipment.

(b) Private Sector: The industries in this sector are owned by private industrialists. Of course, the government supervises and controls them too. For example, consumer goods.

(c) Joint Sector: In this sector, some industries are owned by private industrialists, while some are run under government management.

(iv) For mixed economy to run smoothly there is a need for co-ordination between the private sector and the public sector.
(v) This system aims at maximisation of production and popular participation on a large scale.
(vi) An effort has been made in this system to bring together the good aspects of both the capitalist and the socialist systems.
(vii) A mixed economy cannot ignore the profit motive, entrepreneurship, discipline, time bound planning, etc.