Multiple Choice Questions on With reference to India economy consider the following statements 1 The rate of growth of real Gross........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

With reference to India economy consider the following statements 1 The rate of growth of real Gross...........

Economic Affairs Growth and Indicators
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    With reference to India economy, consider the following statements:

    1. The rate of growth of real Gross Domestic Product has steadily increased in the last decade.

    2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade

    Which of the statement given above is/are correct?

    This questions was previously asked in
    UPSC CSP Previous Year Paper (2015)
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    View All IAS Previous Year Papers

    1 only

    Incorrect Answer

    2 only

    Correct Answer

    Both 1 and 2

    Incorrect Answer

    Neither 1 nor 2

    Incorrect Answer
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    Explanation:

    Statement 1 is wrong as Indian economy suffered declined growth rate due to recession of 2008 for the next few years from 8-9% to 5-6%. Even though the growth rate declined, it never became negative. So, the GDP at market prices has always increased year on year since last one decade.

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