Question

Which one of the following correctly explains the meaning of 'Socialist' in the Preamble?

• A. Nationalisation of all means of production
• B. Abolition of private property
• C. Socialistic pattern of society
• D. Eradication of exploitation and vested interest

Answer 1

The correct option is C Socialistic pattern of society

Notably, the Indian brand of socialism is a ‘democratic socialism’ and not a ‘communistic socialism’ (also known as ‘state socialism’) which involves the nationalisation of all means of production and distribution and the abolition of private property. Democratic socialism, on the other hand, holds faith in a ‘mixed economy’ where both public and private sectors co-exist side by side and aim at a socialistic pattern of society. As the Supreme Court says, ‘Democratic socialism aims to end poverty, ignorance, disease and inequality of opportunity. Indian socialism is a blend of Marxism and Gandhism, leaning heavily towards Gandhian socialism’.