Question

What are the characteristics of the Indian economy?​

Answer 1

Explanation:

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The basic characteristics of India as a developing economy are:

• Low per capita income.
• Occupational pattern – primary producing.
• Heavy population pressure.
• Prevalence of chronic unemployment and under-employment.
• Need for a steady improvement in the rate of capital formation.

Answer 2

Answer:

The characteristics of Indian economy are as follows:

Explanation:

1. Low per capital real income or a low individual purchasing power in the country which lies at 1.35 lakh rupees as of 2019-20.
2. High rate of population growth.
3. High rate of Unemployment.
4. Dependence on the primary sector.
5. Vicious circle of poverty.

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