Q. 2 H5.0( 8 Votes )

Why is India considered a developing economy?

Answer :

Main reason for classifying India as a developing economy is lower per capita income. India is considered as a Developing Economy because of the following reasons:

a. Lower per capita income.


b. Low literacy rate, standard of living and employment rate.


c. Lack of common civic infrastructure.


d. Low standard of living.


e. Poor sanitation and high death rate.


f. Low savings and capital formation.


g. Poor agricultural and technological development.


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