Question

is Indian a developed economy? give reason

Answer 1

Answer:

no India is a developing country as it is continuously progressing.

Explanation:

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Answer 2

India is not a developed economy, it is a developing economy.

Explanation:

• A developed economy is one where major goals such as sustainable development, high income, a better quality of life, equal distribution of resources, high GDP, etc. are present.
• In the case of India, none of these goals have been achieved completely.
• Indian economy still continues to suffer from various problems such as inflation, unequal distribution of resources, low GDP levels. fluctuating but low per capita incomes, etc.
• Even though various steps have been taken to improve the existing situation, challenges like population outbursts, poverty, illiteracy, bad living conditions, etc continue to haunt the dream of all-around development of India.
• Therefore, it cannot be considered a developed economy. It is a developing economy.