What are the main character of Indian economy?

What are the characteristics of Indian economy answer?

India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.

What are the characteristics of the Indian economy class 9?

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.
  • Inequal distribution of wealth and/or assets.

What are the characteristics of economy?

Characteristics of a Market Economy (free enterprise)

  • Private Property.
  • Economic Freedom.
  • Consumer Sovereignty.
  • Competition.
  • Profit.
  • Voluntary Exchange.
  • Limited Government Involvement.

What is the nature of Indian economy?

Since independence India has been a ‘Mixed Economy’. Indian economy is basically based in the contribution of service sector (currently provides 60% share of GDP) and near about 53% of its population is dependent on the Agriculture.

What are the characteristics of Indian economy Brainly?

Low per capita income. Occupational pattern – primary producing. Heavy population pressure. Prevalence of chronic unemployment and under-employment.

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What is meant by Indian economy?

The economy of India is characterised as a middle income developing market economy. It is the world’s sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).

What are the three main features of Indian economy at the time of independence?

Answer

  • Slow and Stagnant.
  • Nominal Growth.
  • Poor Infrastructure.
  • Low Level Of Productivity.

What are the main features of economic development?

Features and Characteristics of Economic Development

  • Economic Development is a continuous process. …
  • Economic Development boosts national income. …
  • Economic Development improves the standard of living. …
  • Economic Development helps to utilize national resource property. …
  • Economic Development results in structural changes.

Which one is not a characteristics of Indian economy?

Lopsided distribution of labour force.