Question

indian economy is a developing economy justify this statement on the basis of changes that an economy experience with economy developmeent

Answer 1

Indian economy is a developing economy. This statement can be justified by taking further justification. For example, countries like U.S.A. and Russia are the ones that are already developed. Their economy is strong in every field. For India, we can have an example of the IT sector, i.e., Information Technology. Our IT sector can't be tagged as being economically developed but as economically developing. It faces ups and downs. On the other hand, we also can't say that sector is underdeveloped.

Answer 2

Indian Economy is underdeveloped, stagnant. It depreciated and has semi feudal feature with a clear dominance of agriculture,anderutilized natural resources and heavy population pressure.