What are the characteristics of the Indian economy answer the following question?

What are the characteristics of the Indian economy answer the following?

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 characteristics of Indian economy Brainly?

Low per capita income. Occupational pattern – primary producing. Heavy population pressure. Prevalence of chronic unemployment and under-employment.

What are the characteristics of economy?

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 major characteristics of 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.
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What are the main characteristics of Indian rural economy?

There are three main features of the rural economy which led to the growth of the rural economy.

  • Commercialization of agriculture. Indian villages have always been self-sufficient. …
  • Impact of Urbanism. Earlier the contacts between rural and urban areas were limited to basic necessities. …
  • Institutional Participation.

How many are the characteristic of Indian economy?

The following points highlight the top thirteen characteristics of the Indian economy. Some of the characteristics are: 1. Low per capita income 2. Excessive dependence of agriculture and primary producing 3.

What are the characteristics of economic development?

Features and Characteristics of Economic Development

  • Economic Development is a continuous process. …
  • Economic Development boosts national income. …
  • Economic Development improves the standard of living. …
  • Economic Development helps to utilize national resource property. …
  • Economic Development results in structural changes.

What are the characteristics of Indian culture?

Indian culture is unique and variant. It includes intellectual and social aspects of any human being. It also takes account of the aesthetic instinct as well as the spiritual impulses of a human being. India is a vast country with a lot of diversity in her physical and social environment.

What is Indian economy Brainly?

Answer: The economy of India is characterised as a developing market economy. It is the world’s sixth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018.

What were the characteristics of Indian economy at the time of independence?

Stagnant economy: There was very slow or no economic growth in the country. As a result of stagnation, there was unemployment, death, and suffering due to lack of food. 2. Backward economy: Indian economy was a backward and per capita income was very low and in India, it was just Rs.

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What are the 5 characteristics of economic system?

Quite simply, there are more opportunities for more people. 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.

Which one is not a characteristics of Indian economy?

Lopsided distribution of labour force.