What are the salient features of Indian Economy?

Salient Features of Indian Economy

  • India, as a developing country, features a mixed economy in the world.
  • Low Per Capita Income:
  • The per capita income of India is much less than that of the developed countries.
  • Agro-Based Economy:
  • Indian economy is totally agro-based economy.
  • Overpopulation:

What are the three main features of Indian economy at the time of independence?

State three main features of indian economy at the time of independence

  • Slow and Stagnant.
  • Nominal Growth.
  • Poor Infrastructure.
  • Low Level Of Productivity.

What are the features of Indian economy before independence?

Pre independence India had a flourishing economy based on agriculture and handicrafts. The quality of workmanship in field on textiles and precious stones was high leading to a worldwide base for Indian products. The British policy was to turn India into an exporter of raw materials and consumer of finished goods.

What are the salient features of Bangladesh economy?

Economy of Bangladesh

GDP by sector agriculture: 14.23% industry: 35.66% services: 50.11% (FY18)
Inflation (CPI) 5.5% (2020 est.)
Population below poverty line 20.5% in poverty (2019) 28.3% on less than $3.20/day (2020f) 6% living in extreme poverty (2020)
Gini coefficient 32.4 medium (2016, World Bank)

Which is a salient feature of Indian economy?

Salient Features of Indian Economy. Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.

What are the features of foreign trade in India?

The following are the features of foreign trade: After independence many changes took place in export trade. India exported tea, jute, cloth, iron, spices and leather before independence. Now chemicals, readymade garments, gems, jewellery, electronic goods, processed foods, machines.

How is the economy of India based on agriculture?

Agriculture Based Economy: Agriculture and allied sectors provide around 14.2% of Indian GDP while 53% of total Indian population is based on the agriculture sector. 3. Over population: in every decade Indian population get increased by about 20% .

What was the aim of the new trade policy in India?

Govt. of India introduced a series of trade reforms since July 1991 as part of economic liberalisation. The aim of the new policy was to promote exports and to remove restrictions on imports. The following are the salient features of the new export, import policy: 1.