It will be true to classify India as?

Q. It will be true to classify India as?

(a) A food-deficit economy

(b) A labour-surplus economy

(c) A trade-surplus economy

(d) A capital-surplus economy

Answer: b

India is classified as a labour-surplus economy because ofits large population and with an unlimited number of workerswilling to work at a subsistence wage. India is projected tohave a skilled-labour surplus of around 245.3 million workersby 2030, owing mainly to its vast supply of working-agecitizens and government programmes to boost worker’s skills.


Which of the following is main characterstics of Indian Economy?

In which of the following years was ‘Planning Commission’ replaced by ‘NITI Aayog’?

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