Features of Indian Economy

Every economy in the world has its own characteristics or features by which it is known or identified. Economies are compared with each other on the basis of these features. India as a distinct nation came into existence on 15th August 1947, called the independence day of India which marked the end of British rule over India.

After that, Independent India has completed period that is long enough to evaluate the position and performance of the country to enable comparison with other countries in the world as well as evaluate its own progress over the years.

The features of Indian economy are:

  1. Low per capita income
  2. Heavy population pressure
  3. Dependence of population on agriculture
  4. Poverty and Inequality income distribution
  5. Higher level of capital formation which is a positive feature
  6. Planned economy