India: A Lesser Developed Country
1.Introduction: The purpose of this report was to investigate India's economic, demographic and cultural characteristics, it's problems and the existing barriers to development and to suggest possible measure to help India with its problems as it is now considered a lesser developed country.
2. Characteristics of India:
2.1 Economic Characteristics: 60% of India's workers are in the agricultural sector (as of 1999). This is mainly so that they can produce enough for their own needs and for that of their families, with little surplus to trade. Their standard of living depends directly on what they produce themselves. Only 23% and 17% of the labour force is taken up with occupations in services and industry irrespectively. India has a large economy, which is determined by its gross national product (GNP), the value of all goods and services produced in a year. But when the country's huge population is divided into its GNP, the GDP per capita (per person) is only three hundred and seventy US dollars. For this reason India is considered a developing country. India's unemployment rate is 8.8% which is surprisingly low. …
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