Meaning and Definition, Basic Principles, Arguments in Favour and Against

The Preamble to the Constitution of India calls the country a 'Socialist' republic. That single word was inserted by amendment and is argued over to this day — but the substance it points to, State provision of welfare, regulation of the economy, and a constitutional commitment to reducing inequality, runs through the document from its very first Part. This topic asks what that commitment actually consists of.

In two minutes

Socialism's basic principles — collective responsibility for welfare, reduction of economic inequality, and regulation or ownership of key economic resources in the public interest — are woven into the Indian Constitution chiefly through the Directive Principles of State Policy, even though India adopted a mixed economy rather than a fully socialist one.

The rest of this chapter

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