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Basic Features of Indian Economy Video Lecture | Famous Books for UPSC Exam (Summary & Tests)

FAQs on Basic Features of Indian Economy Video Lecture - Famous Books for UPSC Exam (Summary & Tests)

1. What are the basic features of the Indian economy?

Ans. The basic features of the Indian economy include a mixed economy system, a large agricultural sector, a growing services sector, a significant industrial base, and a demographic advantage with a young workforce. The economy is characterized by both private and public sectors playing a role in economic activities.

2. How does the mixed economy system contribute to the Indian economy?

Ans. The mixed economy system in India allows for both private and public sectors to coexist and contribute to the economy. This helps in promoting competition, innovation, and efficiency through private enterprises while also ensuring equitable distribution of resources and welfare through public sector initiatives.

3. What is the significance of the agricultural sector in the Indian economy?

Ans. The agricultural sector in India plays a crucial role as it employs a significant portion of the population and contributes to food security. It also serves as a source of raw materials for industries, supports rural development, and contributes to the export sector. The government has implemented various policies and initiatives to support the growth and modernization of the agricultural sector.

4. How does the growing services sector contribute to the Indian economy?

Ans. The growing services sector in India, which includes industries like information technology, telecommunications, finance, and healthcare, contributes significantly to the Indian economy. It generates employment, attracts foreign investment, earns foreign exchange through exports, and contributes to economic growth and development.

5. What is the demographic advantage of the Indian economy?

Ans. The demographic advantage of the Indian economy refers to its young and growing workforce. With a large population of working-age individuals, India has the potential to drive economic growth through increased productivity, innovation, and consumption. However, it also poses challenges in terms of providing adequate employment opportunities and skill development for the growing workforce.

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Apr 26, 2025 Last updated

Video Description: Basic Features of Indian Economy for UPSC 2025 is part of Famous Books for UPSC Exam (Summary & Tests) preparation. The notes and questions for Basic Features of Indian Economy have been prepared according to the UPSC exam syllabus. Information about Basic Features of Indian Economy covers all important topics for UPSC 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Basic Features of Indian Economy.

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	Famous Books for UPSC Exam (Summary & Tests) 780 videos\|1299 docs\|633 tests

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780 videos|1299 docs|633 tests

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