Indian Economy and its nature . Indian means Concerning India and economy means the state of a country or region in terms of the production and consumption of goods and services and the supply of money. Indian economy is mixed and Underdeveloped economy.
Features of Indian Economy as Underdeveloped economy. Stagnant Per capita income Low per capita income Low standard of living Unequal distribution Excessive dependence on agriculture Pressure of population . Unemployment . Lack of capital . Shortage of able enterpreneurs Outdated social institutions Low grade human capital Poor technology
Features of Indian economy as a mixed economy. Elements of capitalism. Industries reserved for public sector reduced to two (Atomic energy and railways) . All industries are delicensed except only 5 Elements of socialism .Significant role of Public sector in develping infrastructure, heavy and basic industries etc.
Masters in Economics(gold medalist).Assistant Professor of Economics.Author of Book.Educator for Indian Economic Service Exam (UPSC).Poet.