(i) Low per capita income: This is a well-known characteristic of India as a developing economy, although it has been increasing over time. (ii) High proportion of the working population is engaged in industries: Historically and currently, the largest proportion of the working population in India is engaged in agriculture, followed by services. While the industrial sector employs a significant number, it does not employ a 'high proportion' compared to agriculture or services combined. This statement is generally incorrect. (iii) Improving rate of capital formation: India has consistently focused on increasing investment rates (capital formation as a percentage of GDP) as a driver of economic growth. Data generally shows an improving trend in the rate of capital formation over the long term, albeit with fluctuations. This is a valid characteristic of India's development path. (iv) Problems in the employment: India faces significant challenges related to employment, including unemployment, underemployment, and lack of quality jobs, especially in the unorganized sector. This is a persistent and marked characteristic of the Indian economy. Based on the evaluation, statements (i), (iii), and (iv) are correct characteristics. Statement (ii) is incorrect. Looking at the options, only option B includes two correct statements: (i) and (iii).