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Answer to Question #60544 in Other Economics for shruti

Question #60544
Indian economy is a developing economy Justify this statement on the basis of changes that an economy experience with economic development.
Expert's answer
Indian economy is underdeveloped, stagnant. It depreciated and has semi-feudal features with a clear dominance of agriculture, underutilized natural resources and heavy population pressure. Among other its typical features are: low levels of living, lack of social overhead capital, industrial backwardness, capital deficiency, income disparities, absence of enterprise and initiative.

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