Socialism in India

Socialism in India refers to a political and economic philosophy advocating for reducing income inequality and promoting collective ownership or regulation of resources and industries. Historically, India adopted socialist principles after independence in 1947 to develop its economy through state-led initiatives, emphasizing public welfare, social justice, and equitable distribution of wealth. While India retains some socialist policies, it has gradually moved towards a mixed economy with private sector participation. Overall, Indian socialism aims to balance economic growth with social equity, ensuring basic services and opportunities are accessible to all citizens.