Structural Changes in The Indian Economy after Liberalisation

Features of Indian Economy


The Indian economy has the characteristics of an underdeveloped economy, a developing economy and a mixed economy.

The main features of Indian Economy as an Underdeveloped Economy are as follows:

    Low per capita income

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Privatisation refers to the transfer of a function, activity or an organisation from public to private sector. It indicates the emergence of a new culture in the economy in which decision-making is based on guiding principles of marketisation, competition and efficiency. The two
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Globalisation is a process of integrating the economy of a country with other economies of the world through trade, capital flows and technology. The term globalisation has four parameters:

    Free flow of goods and services

    Free f
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