Question

Discuss in detail the important features of the indian economy in the post-independence period.

Answer 1

Answer:

1. Indian Economy-Underdeveloped:

On the eve of independence, Indian economy was underdeveloped economy. As an underdeveloped economy, Indian economy had the following features:

(i) Low Per Capita Income:

Underdeveloped economies have low per capita income. India has no exception to it. In 1947-48, per capita income was Rs. 230. People were poor. They were not getting fair square meals a day. They had no shelter and clothing. Most of the people were unemployed.