What is structural transformation of economy describe in context of indian economy?
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Answered by
3
Heya...
Structural transformation means the change in ownership , technology , and state of working levels in an economy...
On the basis of Indian economy...
# Ownership....
As we know from Independence there is a control of govt sector in economy but after 1991 policy it changes into private ownership and govt is forced only for social welfare.....
# Technology....
As first we used outdated technology in works either it is farming or productions but now there are modern technologies being in use....
# Working levels....
In starting only men r preferred for working but nowadays women at also participating in economic development...
Hope it will be a fine answer..
Structural transformation means the change in ownership , technology , and state of working levels in an economy...
On the basis of Indian economy...
# Ownership....
As we know from Independence there is a control of govt sector in economy but after 1991 policy it changes into private ownership and govt is forced only for social welfare.....
# Technology....
As first we used outdated technology in works either it is farming or productions but now there are modern technologies being in use....
# Working levels....
In starting only men r preferred for working but nowadays women at also participating in economic development...
Hope it will be a fine answer..
Answered by
1
Structural transformation is the reallocation of economic activity across the broad sectors of agriculture, manufacturing, and services that accompanies the process of modern economic growth. This behavior is accompanied by changes in the shares of GDP: The agriculture share steadily declined over the period.
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