Question

two characteristics of indian economy

Answer 1

The following points highlight the top thirteen characteristics of the Indian economy. Some of the characteristics are: 1. Low per capita income 2. Excessive dependence of agriculture and primary producing 3. High rate of population growth 4. Existence of chronic unemployment and under-employment 5. Poor rate of capital formation and Others. 

Indian Economy:Characteristic # 1.

Low per capita income:

In India, the national income and per capita income is very low and it is considered as one of the basic features of underdevelopment. As per World Bank estimates, the per capita income of India stood at only $ 720 in 2005. Keeping aside a very few countries, this per capita income figure of India is the lowest in the world and it is even lower than China and Pakistan.

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Answer 2

Indian Economy: Characteristic

1.  Low per capita income:  In India, the national income and per capita income is very low and it is considered as one of the basic features of underdevelopment. As per World Bank estimates, the per capita income of India stood at only $ 720 in 2005. Keeping aside a very few countries, this per capita income figure of India is the lowest in the world and it is even lower than China and Pakistan.

2. Excessive dependence of agriculture and primary producing: Indian economy is characterised by too much dependence on agriculture and thus it is primary producing. Out of the total working population of our country, a very high proportion of it is engaged in agriculture and allied activities, which contributed a large share in the national income of our country.