Consider the following statements with regards to the Gross Domestic Product of India GDP 1 In term...........

Economic Affairs Growth and Indicators

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Consider the following statements with regards to the Gross Domestic Product of India (GDP):

(1) In terms of GDP at current US dollars prices, India is the fifth-largest economy in the world.

(2) Size of the Indian economy in terms of GDP at current US dollars prices has never decreased in the last decade.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Explanation:
The World Economic Outlook of October 2019 has estimated India’s economy to become the fifth largest in the world, as measured using GDP at current US$ prices, moving past the United Kingdom and France. The size of the economy is estimated at US$ 2.9 trillion in 2019. Size of the Indian economy in terms of GDP at current US dollars prices has never decreased in the last decade. So, both the statement is correct.