Why is Indian economy regarded an underdeveloped economy? State its basic characteristics.

Indian economy regarded an underdeveloped economy:--

An underdeveloped economy is defined as an economy which has got unexploited natural resources and unutilized human resources. In other words, it is an economy, having a potentiality to grow. An underdeveloped economy shows the following features:

(a) In the underdeveloped countries, natural resources remain unexploited and underexploited due to various reasons. Systematic utilisation of natural resources alone can lead to -economic development.

(b) An underdeveloped country is basically a primary producing country, engaging its factors of production to produce only raw materials and foodstuffs. The percentage of population engaged in. agricultural sector is very high (70% in Indian context) and a major part of total national income comes from agriculture and activities allied to agriculture (around 30% in India).

(c) In case of UDCs, the scarcity of capital is both the cause and effect of low productivity and underdevelopment. Due to scarcity of capital, a better technique of production cannot be adopted in India due to undeveloped technology total volume of production and productivity is low. Due to low production and productivity, level of income is less, and consequently, less amount of capital is available to adopt better technique of production. Thus, poverty is both the cause and the consequence.

(d) A chief feature of an UDC like India is its high population pressure. The high birth-rate and low death-rate are responsible for a break-neck rise in Indian population. At present, the annual growth rate of population according to 2001 census stands at 2.13%. This rapid growth of population stands as an obstacle in the smooth development of the economy.

(e) UDCs are characterized by low per capita income and grinding poverty scenario. In India, the per capita income is less than 1/3 of the per capita income of the developed western countries, and, according to the revised estimate of the Planning Commission about 50% of the total populations in India live below the poverty line.

(f) The underdeveloped countries are also characterized by widespread unemployment, underemployment and disguised unemployment. In India large numbers of people engaged in the agricultural sector are underemployed or disguisedly unemployed, apart from the large number of white- coloured unemployed, existing in the register of Employment Exchanges.

(g) The underdeveloped economies are also backward in the field of human __________ _______ _____ ______ ________ ___ _______.
_____ _______ _______ ________ __________ ________ _______.
________ ______ __________ _______ _____ _____ ___.
___ ______ ______ _____ ____ _____ _____ ______ _________ _________ __________ _____.
_______ ______ ________ ____ __________.
_________ ___ ___ ______ ____.
________ _____ __________ ____ _____ ______ ___ ________.
_______ _________ _______ _________ _______ _____ __________.
____ ______ ______ _____ ____ _______ _________.
______ __________ __________ _____ __________ ______ ____ ________ ______ __________ ______ ____.
___ _________ __________ _____ ___ ___ ________ ______.
__________ _____ _________ __________ ____ ___ __________ _______ _____ ___ ______ _________.
_____ _______ _________ __________ ____ __________.
__________ _____ ___ _______ __________ __________ ________ ______ ________ _________ __________.
___ ____ _____ ____ ________ _____ ___ _________.
__________ ___ _________ _____ ___ _________.
_______ ____ _____ __________ __________ __________ _________ ___ ____ ______ _______.
___ ____ _____ ______ _____ ________ ______ _______ ___ ___.
______ ____ _____ ____ _____ _________ _________ ________ ___ _____ _______.
_________ ___ ______ ___ __________ _____ _________.
____ ________ __________ _________ __________ _____ ________ _______ _________.
__________ _______ ________ ___ ____ ______ ___ ___ _________.
_________ _______ _________ ___ _____.
_______ ____ ____ _________ _____ ___ ____ ___ ___ __________ _____.
__________ ___ __________ __________ ______ ____ _______ ________ ___ __________.
_________ ______ __________ __________ _____ _______ __________ __________ _______ ______ ____ _____.
_____ __________ _________ _________ __________ ____ __________ _______ __________.
______ _______ _______ ___ ___.
_________ _____ _________ _____ ______ _______ _____ _________ ________.
__________ _____ ___ ____ _____ _____.
____ ___ ____ __________ ______ _______ _____ _________ _________ _________.
___ ____ ____ ___ __________ _____ _______ _____ __________.
___ _______ ______ _________ _________ ______ _____ ____ __________ _____.
___ __________ ______ ______ ___ __________ _______ _______ __________ __________ __________.
_________ ____ ______ ____ __________ _______ ______.
___ _________ _____ ___ __________ _______ ____ ________ ______ _________.
_________ ______ ______ __________ ______ _____ _________ ____.
________ _____ ____ ______ _________.
________ _____ ____ __________ ______ _________ ______ ___ _________.
_______ _________ _______ __________ ________ ______ _____ _____ _______.
____ ____ _________ __________ ______ ____ _________ _________ ________ ____.
_____ ________ ________ ___ _______ ____ ______ _________ ____.
____ ___ ________ _____ ____ _________ __________ _______ ____ ___ ______ ______.
________ _____ _________ _________ ________ __________ ___ ___ ______ _______.
______ __________ ______ _______ _____.
___ ____ __________ ____ _________ ___ _____ _____ ___ __________.
_____ _________ ______ _____ ______ _____ _______ _________.
______ ______ ___ ______ _________ __________.
______ ________ ____ ___ _____ _______ _____ __________.
______ _______ _____ ______ __________ _______.
_____ ____ _______ _________ ______ __________.
________ _____ ________ _________ ______ ___.
______ ________ _____ _______ _________ _____ _____.
____ __________ __________ ____ __________ ________ ________ __________.
______ _________ ______ _______ _______ __________ _____.
__________ ________ ________ _____ _________ _________ ________ ______ _____ __________ ___.
_______ _____ _________ _________ _____ _________ ____ _________ _____.
_______ ____ ___ _______ ___ ___ ______ _________.
______ ___ __________ ________ _____ ________ ___ _______ _____ ______.
______ ________ _______ ____ ___ ______ ______ _________ _____ _________ _______ _________.
_____ _________ _____ _______ _________ _________ _______.
________ ________ _______ _____ _____ ___ _____.
____ __________ ___ _______ __________ _____ ____.
______ ___ ________ __________ _________ ____ _________ _______ _____ ________.
___ _______ __________ _______ ________ ___.
_______ _______ _____ _____ _________ ___ ________.
_______ ______ _________ _______ ______ _________ ______ ____ ____ _________.
________ __________ _________ ______ ____ __________ ________ _______ ____ _____ _____ ______.
_________ ___ _______ _________ ______ ___.
_______ _________ _________ ___ ________.
_________ _____ ____ ________ __________ ________ _______ __________ ___.
____ ___ ____ ________ ______ ______.
____ ______ _______ ________ _______.
__________ ____ ________ ______ _____ _______ _______ _______.
____ __________ _________ __________ _________ ___ ________.
_________ ______ _______ ___ ______ ______ ____ __________.
_______ ___ ________ ____ __________ ___ ___.
_________ ___ ________ ________ ________.
_________ _________ _____ _______ ________.
___ _____ ______ ________ __________ _______ ______.
_______ _________ _______ ____ __________ _____ _________ ___ ___ _______ __________.
_______ ______ _______ ______ ________ _____ _____ _______ ________ ________.
____ ___ _________ __________ ___ __________ ________ ________ ____.
_____ ______ ________ ____ ______ _______ ____ _____ _________ ______ ____ ________.
_________ ____ __________ ______ _____ ______ __________ _______ __________ ________ _________.
_______ _________ ________ ______ ______ ___ __________ _________ _______.
_______ _______ _______ __________ _______ _________ ____ ______ _____ ___.
____ __________ _________ __________ _______ ________ ______ ____ ___ ____ _______ _________.
___ __________ _____ _________ ______ _________ ____ _________ _________ _______ ________.
_______ ___ ________ ________ _____ __________.
___ _____ ________ ______ ______ _____ ______ __________ _______.
_____ ___ _______ _____ _______.
____ _________ __________ _______ ___ ________ _________.
___ _______ ____ ______ _______ _______ _______ _________ ___ ______ _____ _______.
_____ __________ __________ _______ ________ ________ ______ _________ _______.
_______ ______ _____ _____ ________ ___.
_________ _____ _________ ____ ___ ____ _____ ________ ___ __________ _____ _________.
____ ________ _____ _____ _______ ______ ______ _______ _______ _______ __________ ______.
_________ ____ ______ ___ __________.
________ ______ _______ _______ ________ ___ _______ ________ __________.
______ ________ ___ __________ ____.
______ __________ __________ ___ ________ _____ ______ ______ __________ _______ _________.
___ ____ ____ ___ _____ ___ ___ _______ ___ _______ ___.
____ ___ _____ _______ ________ _______ __________ ___ _________.
______ _____ ____ __________ ____.
___ _________ _______ ______ __________ _____ ____ ___ _____ __________ _________ _________.
__________ ________ _________ _______ _____ __________ __________ _________ ______ ____ __________.
_________ ______ ___ ____ ___ _________ ________.
________ _____ _______ ___ ______ _______ __________ ___.
_________ ___ _________ _____ _________ __________ ________ __________ ________.
________ __________ ______ _________ _______ _______.
_____ ____ ____ ______ ____ _______.
_______ __________ _____ ________ ________ ______ ________ _____ ______ _________ _____ _____.
_____ _______ ___ ___ _______ __________ ______ _____ _______ _____ ___ _________.
______ __________ _______ _______ _____ _______ __________ __________ __________ ___ ________ ___.
_____ ______ ______ _________ _________.
________ ____ ____ ___ ____ _______.
______ _____ ____ _______ ___ ______.
________ _____ ____ ______ _____ ____.
_______ ________ _____ ___ _________ ______ ___ ____ ____ ___ ____.
____ __________ _____ __________ ________ ________.
_______ ________ ___ _______ _____ ______ _________ __________ ______ _____ ______.
__________ ___ _______ _______ ________ ________ __________ __________.
__________ __________ ________ ____ _________ ______ __________.
______ ______ ___ _______ ________ _______ _________.
_____ _________ ______ _________ _______ ______.
______ _____ ___ ___ ______ __________ _____ __________ ____ ______ ________ ______.
________ _______ _______ _______ ________ ______ ________ _______ ______ ______ ________.
__________ __________ _________ _______ _______ _____ _____.
__________ __________ _________ _________ ____ ______ _________ _______ ______ __________.
__________ ______ ____ _____ ______ ___ ______.
________ _____ _____ ___ ____ __________ __________ ___ ___ _______ ______.
_______ ________ __________ _______ ________ _______ ___ ______.
____ _________ _______ ___ _____ ______.
_____ _________ ________ ______ _________ ________.
___ _________ _________ _________ __________ ___ _______.
____ __________.
Get Full Answer on WhatsApp