Describe the basic characteristics of the indian economy as an emerging economy
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My friend india is a economy which is also known as developing economy. Before the economic reform of 1991 the Indian economy was rather a stagnant i. e still. There were more restrictions on industries and the rest as a result the economic growth was in slow pace.
But after 1991 with the new economic reform introduced the government opened the economy to the world. With this the economy flooded with mote capital and technology than ever. This kick started the growth of economy.
So if we look at the basic features of economy we can look at the following factors. Sorry I am not able to explain them.
1 India economy is agriculture based.
2 The population is expanding.
3 Low per capita income.
4 unbalanced income and poverty.
5 lack of transportation and communication.
6 Lack of technology.
7 lack of capital.
8 unemployment problems.
Friends i have given limited points due to some reasons. Indian economy s an economy with many opportunities in future.
I hope you have found your answer.
But after 1991 with the new economic reform introduced the government opened the economy to the world. With this the economy flooded with mote capital and technology than ever. This kick started the growth of economy.
So if we look at the basic features of economy we can look at the following factors. Sorry I am not able to explain them.
1 India economy is agriculture based.
2 The population is expanding.
3 Low per capita income.
4 unbalanced income and poverty.
5 lack of transportation and communication.
6 Lack of technology.
7 lack of capital.
8 unemployment problems.
Friends i have given limited points due to some reasons. Indian economy s an economy with many opportunities in future.
I hope you have found your answer.
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