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Exercises · Q4

Q.List and briefly explain any four features of India as a developing economy.

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India, as a developing economy, shows several well-recognised structural features:

  1. Low per-capita income relative to developed nations — despite growth in total national income, income divided across India's very large population remains well below that of developed countries.
  2. Heavy dependence of the workforce on agriculture — a much larger share of India's working population is engaged in agriculture and allied activities than in developed economies, even though this share has been gradually declining.
  3. Widespread unemployment and underemployment — open unemployment coexists with substantial underemployment, particularly disguised unemployment in agriculture, where more people work on land than are actually needed to produce the existing output. …

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