GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Industrial
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agricultural
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only (a) and not (b)
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both (a) and (b)
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Detailed explanation-1: -Indian economy on the eve of independence was primarily an agricultural economy though industries had also started to develop in different parts of the country.
Detailed explanation-2: -At the time of independence, Indian economy was predominantly agricultural economy. irrigation purposes. No improved methods of production were used to cultivate crops.
Detailed explanation-3: -Answer. The Indian Economy is called an agro-economy because the agriculture sector is one of the major contributors to the country’s total GDP. Also, the sector provides jobs to more than half of the country’s population.
Detailed explanation-4: -On the eve of independence, Indian economy was underdeveloped economy. As an underdeveloped economy, Indian economy had the following features: (i) Low Per Capita Income: Underdeveloped economies have low per capita income.