India's per capita income is low? Do you agree. Give reasons.
Answers
Answer:
YES INDIA'S PER CAPITAS INCOME IS LOW
India is the sixth biggest economy in the world and it stands second on population count.
per capita income is Total GDP of a country divided by its population.
REASON -
1 . India population is so high that makes its per capita income so low.
2. Unorganised sector, according to Economic Survey of India 2018, 93% of India’s total employment is unorganised. So India doesn’t have full data of its employment. That makes a fuzzy scenario to determine total income of a person.
3. low Financial Inclusion, In India still a big chunk of population doesn’t use Banking services. They are still rely on their traditional way of doing. But after JDY, India has resolved this issue fairly.
4. Traditional Agriculture, India’s 58% population depends on agriculture of their daily life earnings. And they are using 100 years old farming technique, so the production from farming is very low and that gives them a very low margin of profit.
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