explain features of indian economy 5marks
Answers
Answer:
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
Answer:
The economy of India is characterised as a developing market economy. It is the world's fifth-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 119th by GDP per capita in 2018. Wikipedia
Gross domestic product: 2.6 lakh crores USD (2017) World Bank
Currency: Indian rupee
GDP growth rate: 6.6% annual change (2017) World Bank
GNI per capita: 7,060 PPP dollars (2017) World Bank
GDP per capita: 1,939.61 USD (2017) World Bank