An economy is a system of organizations and institutions that help facilitate or are involved in the production and distribution of resources among members of society. Economic systems can be divided into command and market systems. In market systems, individuals own the factors of production. Economics is a science that studies economies and develops possible models for their functioning.
What is Indian Polity? Indian polity is a package of topics including Indian constitution, governance, parliament, social justice, right issues, inclusion, poverty, latest bills etc. Primarily it is the basic structure of India that has been extensively defined in the constitution and framed by statutory laws, rules, and procedures. Polity describes the structure and governance of a State while Constitution, on the other hand, is the Fundamental Law of the Land which governs and defines the Indian Polity. As defined by our Preamble, Indian Polity is a Sovereign, Socialist, Secular, Democratic Republic. The laws of the Land, constitutional as well as legislative, are within the framework of this basic structure.
In simple words, Indian polity is a basic structure of the State that includes a wide range of topics such as development of constitution, fundamental rights, Directive principles, the executive, the state, the Prime Minister and Council of Ministers, the President, the Judiciary, State Government, Election System, etc. Indian Polity aids in our understanding of the Indian government and our rights as citizens.
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