Question

Is the Indian economy stagnant and backward?

Answer 1

There was exceptionally slow or no financial development in the country. Due to stagnation, there was joblessness, death, and malnutrition because of an absence of food. The Indian economy was in reverse or backward. The per capita pay was exceptionally low and in India, it was simply Rs. 230 from 1947-1948. Hence, the Indian economy was both stagnant and backward.

Also see: MCQs on Indian Economy

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