Tamil Nadu Board of Secondary EducationHSC Arts Class 11th

Explain the strong features of Indian economy - Economics

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Long Answer

Explain the strong features of Indian economy

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  1. India has a mixed economy: In India, both private and public sectors coexist.
  2. Agriculture plays a key role: Around 60% of the people in India depend upon agriculture for their livelihood.
  3. An emerging market: India has a high potential for prospective growth which attracts FDI and FII.
  4. Emerging economy: As a result of rapid economic growth Indian economy has a place among the G20 countries.
  5. Fast-growing economy: India has emerged as the world’s fastest-growing economy in 2016-17 with 7.1% GDP next to China.
  6. Fast-growing service sector: The service sector, contributes a lion’s share of the GDP in India.
  7. Large domestic consumption: Due to large domestic consumption the standard of living has considerably improved and lifestyle has changed.
  8. paid growth of urban areas: Improved connectivity in transport and communication, education, and health have speeded up the pace of urbanization.
  9. Stable macro economy: The current year’s economic survey represents the Indian economy to be a heaven of macroeconomic stability, resilience, and optimism.
  10. Demographic dividend: India is a proud owner of the maximum percentage of youth. This has invited foreign investments to the country and outsourcing opportunities.
Concept: Features of Indian Economy
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Tamil Nadu Board Samacheer Kalvi Class 11th Economics Answers Guide
Chapter 7 Indian Economy
Model Questions - Part D | Q 35 | Page 164

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