Economic Democracy :
Under economic democracy, efforts are made to end the gulf between the rich and the poor. People are given economic freedom. Equal opportunities are provided for employment to both, men and women. Besides, efforts are made to resolve the problems of exploitation, bonded labour and child labour etc. In Economic Democracy, sources of personal / individual in come and national income are increased in order to achieve a high standard of living.
In it, effort is made to establish balance between big industries and small industries. Priority is given to the welfare of backward class and minority class. For obtaining economic democracy, socialist economy is adopted. For the establishment of political democracy, economic democracy is a must. Hence, in the present period, efforts are being made at national level to establish economic democracy.
