Exercises · Q4
Q.List and briefly explain any four features of India as a developing economy.
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Start your 14-day free trial to unlock the full solution →India, as a developing economy, shows several well-recognised structural features:
- 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.
- 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.
- 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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