Give reasons.

1. Independent India opted for a mixed economy.

2. Banks were nationalized in 1969.

3. Mill workers went on strike.

1. Our Prime Minister Pandit Nehru adopted the middle path rather than taking recourse to any extremes. A mixed economy also naturally tends to give priority to the national interest. Long-term development is stressed upon with priority. Thus, India adopted the mixed economy model. Priority was given in this policy to control the influence of heavy industries, industrial families and foreign industries and remove the imbalance in regional development. In this economy, public, private and joint sector are work together.

2. Nationalisation of banks was essential to cover the deficits if they occurred while implementing different schemes. Also the profits of these banks. India should become self-reliant, the government should develop the basic industries, increase the speed of economic development and pay attention to establish a strong economy i.e. 14 major banks in the country were nationalized.

3. The Rashtriya Mill Mazdoor Sangh, which was negotiating with the employers, agreed upon 8 to 17% bonus without taking the workers into confidence. The cut in the bonus proved to be the cause of unrest. Some workers went to Dr. Datta Samant and convenience him to accept leadership after that Workers of 65 mills came together and Dr. Datta Samat led the strike. On 18^th January 1982, two and a half lakh workers went on a strike. So mill workers went on strike over 6 months to 1 year.