Indian Economy

Indian Economy Salient Features BY SANDEP KESARWANI

Features of Indian Economy   

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Mixed Economy Low Per Capita Income Disparities in Income Distribution Dominance of Agriculture and Heavy Population Pressure on Agriculture Over Population

Features of Indian Economy 

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Unbalanced Economic Development. Lack of Capital. Operation of Economic Vicious Circles Limited Availability of Transport and Communication Facilities

Features of Indian Economy       

Existence of Traditional Society. High Incidence of Poverty. Low Level of Productivity. Smaller participation in foreign trade. Lack of Industrialization. Market Imperfection. Unemployment

Lack of Industrialization

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Absence of modern and advanced technology in Industries.

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Slow average annual growth rate of Industrial Sector.

Average Annual Growth Rate of Industrial Sector Five Years Plans Target

Actual

Sixth Plan (1980-85)

8.7% p.a.

3.5% p.a.

SeventhPlan(1985 8.7% p.a. -90)

8.5% p.a.

Eighth Plan (1992-97)

8.1%p.a.

7.6%p.a.

Ninth Plan (1997-2002)

4.5%p.a.

Tenth Plan (2002-07)

8.90

Eleventh Plan(2007-11)

10-11

8.74

Market Imperfection

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Lack of mobility among production factors. Lack of Specializations. Lack of Knowledge.

Unemployment       

Structural Unemployment Under – employment Disguised Unemployment Open Unemployment Educated Unemployment Frictional Unemployment Seasonal Unemployment