What are features of Indian Economy?

What are the main features of Indian Economy?

Important Features of the Indian Economy & GDP

  • 1] Gross Domestic Product. India had a GDP of 2.26 lac crore dollars in the year 2016. …
  • 2] Low Per Capita Income. …
  • 3] Indian Economy is a Mixed Economy. …
  • 4] Agriculture is the most important sector. …
  • 5] Uneven Wealth Distribution. …
  • 6] Human Capital. …
  • 7] Immense Growth of Service Sector.

What are the five features of economy?

Based on a broad range of input from experts, academics, peers, and public opinion, the Foundation defines inclusive economies by five inter-related characteristics: participation, equity, growth, sustainability, and stability.

What are the features of economics?

Characteristics of Economic Activities:

  • Wealth Producing Activities:
  • Satisfying Human Wants:
  • Money Income:
  • Developmental Activities:
  • Proper Allocation of Resources:
  • Optimum Use of Resources:

What are the main features of Indian economy at the time of independence?

15 essential features of Indian Economy on the Eve of…

  • Indian Economy-Underdeveloped: …
  • Stagnant Economy: …
  • Semi-Feudal Economy: …
  • Depreciated Economy: …
  • Pre-dominance of Agriculture: …
  • Underutilized Natural Resources: …
  • Heavy Population Pressure: …
  • Capital Deficiency:
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What are the features of Indian economy as a developing economy?

Answer: The basic characteristics of India as a developing economy are:

  • Low per capita income.
  • Occupational pattern – primary producing.
  • Heavy population pressure.
  • Prevalence of chronic unemployment and under-employment.
  • Need for a steady improvement in the rate of capital formation.

What are the basic features of Indian economy as a developing economy?

Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.

What are the two positive features of Indian economy?

The two positive features of Indian economy includes higher rate of capital formation or investment and planned economy. During the time of independence one of the major problem of Indian economy was deficiency in capital stock that is land, machinery, savings, etc.

What is the main feature of the developing economy?

1. Low Per Capita Real Income. Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.

What are the three main features of Indian Economy?

Answer

  • Slow and Stagnant.
  • Nominal Growth.
  • Poor Infrastructure.
  • Low Level Of Productivity.

What are the characteristics of the Indian economy Answer?

The basic characteristics of India as a developing economy are:

  • Low per capita income.
  • Occupational pattern – primary producing.
  • Heavy population pressure.
  • Prevalence of chronic unemployment and under-employment.
  • Need for a steady improvement in the rate of capital formation.
  • Inequal distribution of wealth and/or assets.
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What are the features of economic growth?

Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth. Economic growth is commonly measured in terms of the increase in aggregated market value of additional goods and services produced, using estimates such as GDP.