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Economic Underdevelopment Video Lecture | NABARD Grade A & Grade B Preparation - Bank Exams

FAQs on Economic Underdevelopment Video Lecture - NABARD Grade A & Grade B Preparation - Bank Exams

1. What is economic underdevelopment and how does it differ from economic development?

Ans.Economic underdevelopment refers to a state in which a country's economic performance is below its potential, characterized by low income levels, inadequate infrastructure, and insufficient access to education and health services. In contrast, economic development is the process through which a country improves its economic, political, and social well-being, leading to higher living standards and a more robust economy. Economic underdevelopment often results from various factors, including historical exploitation, lack of resources, and poor governance.

2. What are the main causes of economic underdevelopment in various countries?

Ans.The main causes of economic underdevelopment include historical factors such as colonialism, which can leave lasting impacts on a nation's economic structures. Additionally, poor governance, corruption, lack of infrastructure, limited access to education, and health care contribute to underdevelopment. Other factors may include external debt, dependency on a single commodity or agriculture, and adverse economic policies that stifle growth.

3. How do international organizations address economic underdevelopment?

Ans.International organizations such as the World Bank and the International Monetary Fund (IMF) address economic underdevelopment through funding, technical assistance, and policy advice. They provide loans and grants for development projects, promote economic reforms, and offer guidance on creating sustainable economic policies. Additionally, these organizations often focus on capacity building and encouraging investment in education and infrastructure to foster long-term development.

4. What are the impacts of economic underdevelopment on a country’s population?

Ans.Economic underdevelopment significantly impacts a country’s population by leading to high levels of poverty, unemployment, and inequality. It restricts access to essential services such as healthcare and education, which can perpetuate cycles of poverty. Underdeveloped countries often experience lower life expectancy and higher infant mortality rates, alongside challenges such as political instability and social unrest as citizens struggle to meet their basic needs.

5. Can economic underdevelopment be reversed, and if so, what strategies are effective?

Ans.Yes, economic underdevelopment can be reversed through targeted strategies that focus on sustainable development. Effective strategies include investing in education and skill development, improving infrastructure, promoting entrepreneurship, and creating favorable conditions for foreign and domestic investment. Additionally, implementing sound governance practices, reducing corruption, and engaging in international trade can significantly contribute to reversing underdevelopment and fostering economic growth.

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Oct 06, 2025 Last updated

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