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ISSUES FACED BY INDIAN ECONOMY
What is the primary characteristic of a dual economy in India?
A dual economy refers to the coexistence of a modern, capital-intensive sector alongside a traditional, labour-intensive sector, creating structural imbalances in productivity and income distribution.
What is meant by 'disguised unemployment' in the Indian agricultural sector?
More workers engaged than actually needed for productive output.
Which term describes the situation where workers appear employed but contribute negligibly to output in agriculture?
This is called disguised unemployment or hidden unemployment, prevalent in India's agricultural sector where surplus labour exists beyond what is productively required.
What is the 'middle income trap' and is India at risk of falling into it?
Stagnation at middle income levels before reaching high income status.
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