Question

Discuss the difference between developing and developed economies. Do you think that
India is a developing economy? Give reasons in support of your answer.

Answer 1

Answer:

Question

Discuss the difference between developing and developed economies. Do you think that

India is a developing economy? Give reasons in support of your answer.

Explanation:

Answer

Difference between developing and developed economies are :

A developing country, also called a less-developed country, is a nation with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries. ... A developed economy refers to a country with a relatively high level of economic growth and security.

Reason for why India is considered is a developing economy

Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.

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