Why India is still developing?
Answers
The development project in India is nowhere near complete – indeed it has barely begun. It is still a poor country: per capita income iremains below $2,000 (£1,206) at actual exchange rates, and there is still widespread destitution. Development is supposed to involve job creation, with more workers in formal employment in large units, but that has not happened.
Manufacturing still counts for less than one-fifth of both output and employment. More than half of all workers languish in low productivity agriculture, while another quarter or so are in low grade services. About 95% of all workers are in informal employment, and roughly half are self-employed. What's more, the recognised and paid participation of women in working life has actually been declining in a period of rapid income growth.
Answer: The development project in India is nowhere near complete – indeed it has barely begun. It is still a poor country: per capita income iremains below $2,000 (£1,206) at actual exchange rates, and there is still widespread destitution. Development is supposed to involve job creation, with more workers in formal employment in large units, but that has not happened.
Manufacturing still counts for less than one-fifth of both output and employment. More than half of all workers languish in low productivity agriculture, while another quarter or so are in low grade services. About 95% of all workers are in informal employment, and roughly half are self-employed. What's more, the recognised and paid participation of women in working life has actually been declining in a period of rapid income growth.
Explanation: