The correct answer is (c), a mixed economy.
A mixed economy is an economic system that combines elements of both capitalism and socialism. In a mixed economy, some of the means of production are privately owned and operated, while others are owned and operated by the state. The government may also play a role in regulating the economy and providing social welfare programs.
India has a mixed economy. The private sector plays a major role in the economy, but the government also owns and operates a number of key industries. The government also plays a role in regulating the economy and providing social welfare programs.
A capitalist economy is an economic system in which the means of production are privately owned and operated for profit. In a capitalist economy, the government plays a limited role in the economy, and businesses are free to compete with each other.
A socialist economy is an economic system in which the means of production are owned and operated by the state. In a socialist economy, the government plays a major role in the economy, and businesses are not allowed to compete with each other.
(d), None of the above, is not the correct answer because India has a mixed economy.