SSC MTS EXAM

SSC

INDIAN ECONOMY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
On the eve of independence Indian economy was considered as
A
Developed economy
B
Developing economy
C
Underdeveloped
D
All the above
Explanation: 

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. Most of the economy was part of the unorganised sector.

Detailed explanation-2: -The Indian economy was an agro-based economy on the eve of independence. 75% of the Indian population was earning a livelihood from agriculture. Despite being a primary source of income for a major population, this sector faced a decline under the British rule.

Detailed explanation-3: -Our economy had been a victim of enormous exploitation. Our natural resources, iron ores, gold mines, wealth and manpower was subject to intense exploitation. Due to these atrocities, the Indian economy on the eve of independence showed poor/low economic growth.

There is 1 question to complete.