CSEET · Economic and Business Environment · Indian Economy
Which of the following is a recognised feature of the Indian economy as a developing economy?
A recognised feature is the heavy dependence of the workforce on agriculture together with the services sector contributing the largest share of GDP. India also has a large informal sector and a big population, so the other statements are incorrect.
- AVery low population growth and a small labour force
- BLarge dependence of the workforce on agriculture along with a growing services sector share in outputCorrect
- CComplete absence of an informal sector
- DDominance of manufacturing in GDP contribution over services
Explanation
A large share of the workforce still depends on agriculture, while services contribute the largest share of GDP. The informal sector is sizeable, so the claim of its absence is wrong. Manufacturing does not dominate GDP; services do.
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