Indian Economy Drishti दृष्टि IAS

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Introduction to Indian Economy:-

• Low per capita income.
• Inequalities in income distribution.
• The predominance of agriculture. (More than 2/3rd of India’s working population is engaged in agriculture. But in the USA only 2% of the working population is engaged in agriculture.)
• Rapidly growing population with 1.2% annual change.
• Chronic unemployment (A person is considered employed if he / she works for 273 days of a year for eight hours every day.)Unemployment in India is mainly structural in nature.
• The low rate of capital formation due to less saving rate.
• Dualistic Nature of Economy (features of a modern economy, as well as traditional).Mixed Economy
• Follows Labor Intensive Techniques and activities.

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Soft Copy Notes : Economy Indian Polity Handwritten