Question

characteristics of indian economic​

Answer 1

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 142nd by GDP and 124th by GDP in 2020.

Answer 2

Explanation:

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.