Crucial Features of India as an Underdevelopad Country
American indian economy is definitely an bad economy because almost all significant features of a great underdeveloped economy arc continue to present in Indian economy. Some of these features are discussed below: 1 . Low Income:
In India GNP (Gross Nationwide Product) every capita was $1, one hundred and eighty in 2009 at current rates, roughly 1 / 3rd of the inhabitants is under the poverty series. On universe scale, profits inequalities between developed and underdeveloped countries arc huge. According to the World Hank estimations, in 2009 the typical GNP per capita with the high profits economies was $38, 139 whereas it was $503 in low cash flow underdeveloped countries. 2 . Predominance of Cultivation:
In India agriculture and allied groups contribute practically 14. two percent of Gross Home Product (GDP) according to the 2010-11 estimates produced by the Central Statistics Workplace (CSO). In addition, in India agriculture provides employment to. 50 per cent of the staff. The share of salary in cultivation is yet , considerably less than the reveal of job in farming which obviously reflects the relatively low productivity every labour product in the agricultural sector. 3. Rapid Populace Growth Rate and Substantial Dependency Proportion:
High inhabitants growth charge is also an indicator of underdevelopment. India's population expansion rate was 1 . 93% per annum and 21. thirty four % per decade during 1991-2001, which is still very high as compared to developed financial systems. Dependency proportion refers to rate of centered population ( non-working ) to total population. In India dependency rate is around 60% which is quite high. This is because of high birth level and sociable circumstances. some. Mass Low income:
According to United Nations Creation Programme's (IJNDP) Global Individual Development index 2011. India is ranked 134th among 187 countries. The statement says 53 per cent of Indians experience multidimensional lower income. The Planning Commission rate released the other India Human being Development Survey (HDR) 2011. The survey claims that...