Haryana is considered to have a developing economy.
A developing economy is one that is in the process of industrialization and modernization. It is characterized by a high rate of economic growth, a rapidly expanding middle class, and a growing share of the world’s economy.
Haryana is one of the fastest-growing economies in India. The state has a strong manufacturing sector, which is based on the production of automobiles, electronics, and textiles. Haryana also has a large agricultural sector, which is the main source of employment for the state’s population.
The state government of Haryana has been working to improve the state’s infrastructure and education system. The government has also been working to attract foreign investment. These efforts have helped to make Haryana a more attractive place to do business.
However, Haryana still faces some challenges. The state has a high rate of poverty and illiteracy. The government needs to do more to address these issues in order to ensure that the state’s economy continues to grow.
Here is a brief explanation of each option:
- Highly developed economy: A highly developed economy is one that has a high level of economic development. It is characterized by a high per capita income, a high level of industrialization, and a high level of technological advancement.
- Moderately developed economy: A moderately developed economy is one that is in the middle of the development spectrum. It is characterized by a medium level of economic development, a medium level of industrialization, and a medium level of technological advancement.
- Developing economy: A developing economy is one that is in the process of industrialization and modernization. It is characterized by a low per capita income, a low level of industrialization, and a low level of technological advancement.
- Very underdeveloped economy: A very underdeveloped economy is one that is in the early stages of development. It is characterized by a very low per capita income, a very low level of industrialization, and a very low level of technological advancement.