Indian type of socialism is-

The correct answer is Democratic Socialism.

Key Points

• Socialism
  • Socialism in India is a political philosophy that is deeply ingrained in the country's socio-economic framework.
  • In general, socialism refers to an economic and political system where the means of production are controlled and regulated by the community as a whole, often through a centralized government.
  • The Indian version of socialism is unique and different from the classical Marxist-Leninist socialism.
• Democratic Socialism
  • Indian socialism is fundamentally democratic in nature.
  • It is a synthesis of democracy and socialism, aiming to combine political freedoms and civil liberties with economic equality and social justice.

Additional Information

• Republican Socialism
  • Republican socialism is a political ideology that combines elements of both republicanism and socialism.
  • It is based on the belief that the state should be owned and controlled by the people, and that the economy should be organized in a way that benefits all citizens, not just the wealthy.
• Federal communism
  • Federal communism is a political system that combines elements of both communism and federalism.
  • It is based on the belief that the state should be organized into a federation of self-governing communes, or worker's councils.
  • Each commune would be responsible for its own affairs, while the federation would coordinate economic and social policy across the entire state.
• Communist socialism
  • Communist socialism is a political and economic system in which the means of production are owned and controlled by the state, which is run by a democratically elected government.
  • The goal of communist socialism is to create a classless society in which everyone has equal access to resources and opportunities.