Various types of natural resources, viz. Backwardness of Infrastructural Development: The population growth rate in India is as high as 2.
All these require maintenance of honest and efficient administrative machinery which India is lacking very much. But considering its developmental strategy followed during last six decades of its planning and the progress attained in certain areas thereupon, Indian economy can be safely considered as a developing economy.
A in was 83 times than India.
There will be an increased co-operation of India economy with world economies across the world. They equally act as the operators of the economies at their own levels. Rapid growth of population coupled with inadequate growth of secondary and tertiary occupations are responsible for the occurrence of chronic unemployment and under-employment problem in our country.
Inequalities of income are to be seen in the form of unequal distribution of land in the Salient features of indian economy sector and concentration of economic power in non-agricultural sector.
This trend of difference of per capita income between under developed and advanced countries is gradually increasing in present times. Article shared by Indian economy is an under developed economy in which Agriculture is the back bone of Indian economic.
President was the head of federation. This is why the rich are becoming richer and the poor are growing even poor in the economy levels. From the low-growth of the past, the economy has become a high-growth one in the long-term.
Besides, low level of living is also responsible for poor health condition of the general masses. The economy of our country is thus suffering from technological backwardness. They were unable to organize trade and commerce on modern lines.
Supreme court in the centre and provincial courts were introduced. Agriculture plays the key role in supporting the Indian economy Agriculture being the maximum pursued occupation in Indian plays an important role in its economy as well.
With the growing advancements and globalization, the domestic consumption rate within the people of the country is already high, this adds a lot to the Indian economy. Majority of the people of India are leading a poverty line. Holding a constant GDP rate even in the downfall situations, it has kept its position intact making it a lucrative spot for the other economies to invest.
Low per capita income 2.
Inadequate development of economic organisation: To achieve a higher rate of economic growth and to improve the standard of living, a still higher rate of capital formation is very much required in India.
There exists disguised unemployment in Indian agricultural sector which has resulted from too much dependence of population on land and absence of alternative occupations in the rural areas.
Here unemployment in India is the result of deficiency of capital. Numerous watchful and proactive NGOs. Deficiency of capital is another basic characteristic of Indian economy.
More people need more jobs but the underdeveloped economy of India cannot accommodate them. Salient features of a organization? Salient features of a organization can vary greatly depending onthe individual organization.
Would you like to merge this question into it? India per capital income is very low as compared to the advanced countries. Although India was late and slow in modernization of industry in general in the past, it is now a front-runner in the emerging Knowledge based New Economy. Main features of the policy are: Excessive dependence of agriculture and primary producing 3.
The standard of living of Indian people in general is considered as very low. Free, vocal, alert and quality media. Would you like to make it the primary and merge this question into it? They were not getting fair square meals a day. Even though the technology and technical usage in the country is good enough, but is really less as compared to the well-developed economies.1.
Indian Economy-Underdeveloped: On the eve of independence, Indian economy was underdeveloped economy. As an underdeveloped economy, Indian economy had the following features: (i) Low Per Capita Income: Underdeveloped economies have low per capita income.
India has no exception to it. Inper capita income was Rs.
People were poor. Features of indian economy. 1. Characteristics of Indian Economy By- Sweety Gupta 2. • Indian economy is a developing economy in which Agriculture is the back bone of Indian economic.
60% of India’s population are on the below poverty line. INDIAN ECONOMY (Part 1) UGC NET Preparation (Economics Paper 2 & 3) Topics: Economic Growth vs. Economi Development, Salient Features of Indian Economy Presented By: Garima Singh Research Scholar (Economics).
The basic features of the Indian economy are the things that definethe economy of India. They include low per capita income, heavypopulation pressure, pre-dominance of agricul ture, unemployment,and low rate of capital formation.
Dec 11, · Summary (Features of Indian Economy) 1 Generally an economy is considered backward if agriculture is the main occupation of people, population is growing at high rate, techniques of production are backward, incidence of unemployment and high rate of poverty.
The salient features of new economic policy are liberlisation, privatisation and globalisation of the economy (LPG policy). (1) Liberalisation: Simply speaking liberalisation means to free to economy from the controls imposed by the Govt.Download