History, asked by omkalwale, 5 hours ago

Answer in 25-30 words: (1) What are the characteristics of the Indian economy history chapter 2

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Answered by vyoma2188
1

Q1. What are the Characteristics of the Indian Economy?

Ans. To put it in a nutshell, the following are the basic characteristics of the Indian economy:

→Low per capita real income or a low individual purchasing power in the country, which lies at 1.35 lakh rupees as of 2019-20.

→A high rate of population growth with a population of 1.38 billion and growing.

→A very high rate of unemployment, underemployment, and disguised unemployment in all sectors of the economy.

→High dependence on the primary sector due to the underdevelopment of the tertiary and secondary sectors (about 70% of India’s population still works mainly in agriculture).

→The never-ending vicious circle of poverty affects most of India’s population.

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Answered by Prajjwal0736
0

Answer:

In order to understand the Indian Economic landscape, it is important to make note of some of the basic characteristics of India as a developing economy. These are as follows:

- Low Per Capita Income (PCI)

- Occupational Pattern

- Population Pattern

- Chronic Unemployment and Under Employment

- Inequity in capital distribution

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