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Basic Features: Nature of Indian Economy- 1 Video Lecture - Indian Economy for UPSC CSE
FAQs on Basic Features: Nature of Indian Economy- 1 Video Lecture - Indian Economy for UPSC CSE
| 1. What is the nature of the Indian economy? |  |
Ans. India's economy is a mixed economy, with both private and public sectors playing a vital role in the country's economic growth. It is the seventh-largest economy globally, with a GDP of over $2.7 trillion.
| 2. What are the main sectors contributing to the Indian economy? | |
Ans. The Indian economy is primarily driven by the services sector, followed by agriculture, manufacturing, and construction. The services sector contributes around 55% of India's GDP.
| 3. How has the Indian economy grown in recent years? | |
Ans. The Indian economy has been growing at a steady pace in recent years, with an average growth rate of around 7% per annum. In 2019, India's GDP grew by 4.2%, which was lower than the previous year due to a slowdown in several sectors.
| 4. What are the major challenges faced by the Indian economy? | |
Ans. The Indian economy faces several challenges, including a lack of infrastructure, high levels of corruption, a large informal sector, and a low level of human development. Additionally, the COVID-19 pandemic has posed significant challenges to the Indian economy.
| 5. How is the Indian government addressing the challenges faced by the economy? | |
Ans. The Indian government has taken several measures to address the challenges faced by the economy, including implementing structural reforms, promoting foreign investment, and investing in infrastructure development. The government has also launched several schemes such as Make in India, Digital India, and Skill India to boost economic growth and create employment opportunities.
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