Question

What are the characteristics of the Indian economy.​

Answer 1

Answer:

The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018.

Answer 2

Answer:

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.

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