Question

‘India is a developing economy’. Give four arguments in favour of the statement.

Answer 1

Answer:

Increase in Per Capita (Per Head) Income: Increase in per capita net national product at factor cost (per capita income) is considered to be far better index of economic growth. For this reason the planners of Indian economy want to progress the economic growth in terms of per head income.

Answer 2

Explanation:

: 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.