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The Indian economy is regarded as an underdeveloped economy because it exhibits several features that are commonly found in developing nations, such as low per capita income, heavy dependence on agriculture, high population growth, and uneven distribution of wealth. Although India has achieved remarkable progress since independence, it still faces structural challenges that hinder it from attaining the status of a fully developed economy. The underdeveloped nature of the Indian economy can be understood by analyzing its fundamental characteristics. One of the most prominent features of the Indian economy is its low per capita income. Despite being one of the largest ____ ______ _______ __________ ________ ______ _________.
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