Question

Define rural econic system and discuss its main charactericts

Answer 1

Rural Economy  in India: Meaning and Features of Rural Economy!

Meaning:

India is known as an agricultural country, as most of the population of villages depends on agriculture. Agriculture forms the backbone of the country’s economy. The agricul­tural sector contributes most to the overall economic development of the country.

For centuries together, the Indian village has been a self-sufficient and self-contained econ­omy. During the past forty years, rural reconstruction and development have been the major thrust of economic planning, which has caused a rapid transformation in the Indian rural economic structure.

Answer 2

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Main characteristics of rural economy are: 1. Village is an Institution: The Village is a primary institution and it satisfies almost all the needs of the rural community. Dependence on Agriculture: The rural economy depends much on nature and agricultural activities.