Question

What factors have contributed to Indias socio-economic progress?
1 marker

Answer 1

Life expectancy at birth is 65 years and 44% of children under 5 are malnourished. The literacy rate for the population aged 15 years and above is only 63% compared to a 71% figure for lower middle income countries. India's growth rate has slowed and high inflation is a constraint on competitiveness and growth.

Answer 2

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Agriculture and allied sectors like forestry, logging and fishing accounted for 18.6% of the GDP in 2005, employed 60% of the total workforce and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India.

• Poor infrastructure - notably in transport and power networks.
• Low productivity and weak human capital.
• High inflation and a persistent trade deficit.
• Low national savings as a share of GDP, low share of capital investment.

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