Question 18 of 35
Q.List out the reasons for low Per capita income as given by V.K.R.V. Rao.
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 2mImportance★★★★★
51% · 18/35 Questions
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Start your 14-day free trial to unlock the full solution →V.K.R.V. Rao attributed India's low per capita income to rapid population growth, over-dependence on a low-productivity agriculture, deficiency of capital, and underdeveloped resources and technology.
Explaining why the Indian economy remains a developing economy, Prof. V.K.R.V. Rao pointed to these reasons for its low per capita income:
- Rapid growth of population — a high rate of population increase divides the national income among more people, pulling per capita income down.
- Excessive dependence on agriculture — too large a share of the workforce is engaged in agriculture, which has low productivity.
- Low level of capital formation — poor savings and investment keep productive capacity and incomes low. …
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