Summary With MCQ's:
1.1 Characteristics of Indian Economy
A. Dualistic Economy :
Elements of Dualism in India :
a) Small enclaves of modern industries co exists with traditional industries
b) The dualism has continued to exist over last 50 years
c) Gap between two sectors seem to be widening
d) Modern sector has no spread effect on traditional sectors.
B. Widespread poverty :
broader view of poverty
a) Income poverty
b) Deprivation in Health and education
c) vulnerability and exposure to risks
d) voicelessness and powerlessness
C. Predominance of agriculture
D. Low Level of per capita Income
E. Challenges of Population Growth
F. Steadily improving rate of capital formation
G. Infrastructure: Development and deficiencies
H. Under utilization of human resources
I. Poor quality of human capital
J. Low level of Technology
Also, the chapter provides comparison of Indian economy with Developed Economy on the basis of following factors:
1. National Income
2. Per Capita Income
3. Agriculture
a.on the basis of Population engaged
b.agricultural productivity
c.irrigation
d.consumption of fertilizers
4. Industry
5. Service Sector
Important Abbreviations ( Short Form)
SSA: Sarv Shiksha Abhiyan
GDP: Gross Domestic Product
UNDP: United Nation Development Program
GDI: Gender Development Index
GEM: Gender Empowerment Measure
HDI : Human Development Index
AIBP : Accelerated Irrigation Benefit Program
CLA : Central Loan Assistance
PMI : Purchasing Managers Index
LDCs : Less Developed Countries
