Tag: economics

 Nearly 85% of the country's population lived in villages where livelihood completely depended on agriculture. The Indian economy on the eve of independence with respect to agriculture was disheartening. The most important Indian sector was facing massive stagnation and continuous deterioration. Our economy had been a victim of enormous exploitation. Our natural resources, iron ores, gold mines, wealth and manpower was subject to intense exploitation. Due to these atrocities, the Indian economy on the eve of independence showed poor/low economic growth,low per capita income,no saving and investment.

External assistance is being defined as “all official resources which the recipient can use or otherwise benefit from in pursuit of its objectives', the terms official resources meaning, in this instance, “all loans, grants, technical assistance, guarantees or other assistance provided or committed under a binding. India has always relied on other countries for external assistance since independence.

India is one of the most populous countries in the world. Labour is available at a high rate in India, thus, Indian economy is labour surplus and for production mechanism more labour intensive methods are used.

The statement regarding production techniques is correct. The reason being that production techniques are backward in an underdeveloped economy. Others are incorrect because agriculture occupies $53.2$% (in $2009-10)$ population of India and nearly $29.8$% population of India is below the poverty line in $2009-10$.

The introduction of high-yielding varieties of seeds and the increased use of chemical fertilizers and irrigation are known collectively as the Green Revolution, which provided the increase in production needed to make India self-sufficient in food grains, thus improving agriculture in India. So, the correct option is A. ( Modernisation of agriculture through science and technology )

The Green Revolution involved a package of agricultural technologies to boost yields. This included the use of synthetic fertilizers, chemical pesticides, and improved irrigation systems alongside high-yielding variety seeds.

Unique Identification Authority of India (UIDAI) is an agency of the Government of India responsible for implementing the AADHAAR scheme, which aims to provide a unique identification number for all residents of India.

The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity.

 Indian is a developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.