Last year, India's GDP grew at what rate? Take the Rediff Biz Quiz and find out how much you know about Indian economy.
1. Last year, India's Gross Domestic Product (GDP) grew at what rate? a) 5.1 % b) 4.3 % c) 5.5%
Wrong! Try again..
Wrong! The correct answer is 4.3 % . The GDP growth declined to 4.3 per cent during year 2002-2003. The fall was noticeable when compared with the economic growth rate of the previous year. In 2001-02, the GDP grew at 5.6 per cent. The slow down was mainly due to the sluggish performance of the agricultural sector. The drought situation, the worst in over three decades, resulted in the agriculture sector recording a negative 3.2 per cent growth rate.
Correct! The GDP growth declined to 4.3 per cent during year 2002-2003. The fall was noticeable when compared with the economic growth rate of the previous year. In 2001-02, the GDP grew at 5.6 per cent. The slow down was mainly due to the sluggish performance of the agricultural sector. The drought situation, the worst in over three decades, resulted in the agriculture sector recording a negative 3.2 per cent growth rate.
2. In 2000, which sector was rated as the second largest employment provider in India? a) Agriculture b) Software services c) Textiles
Wrong! Try again..
Wrong! The correct answer is Textiles . India's textiles industry is the single largest foreign exchange earner-- accounting for around 20 per cent of India's industrial output and over 30 per cent of India's exports. About 38 million people are employed in the industry, making it the second largest employment provider next only to agriculture. In 2000, India contributed 15 per cent to the world production of cotton textiles, against 12 per cent a decade ago.
Correct! India's textiles industry is the single largest foreign exchange earner-- accounting for around 20 per cent of India's industrial output and over 30 per cent of India's exports. About 38 million people are employed in the industry, making it the second largest employment provider next only to agriculture. In 2000, India contributed 15 per cent to the world production of cotton textiles, against 12 per cent a decade ago.
3. In the last census of 1991, what was the estimated number of Indians living below the poverty line? a) 332 million b) 220 millon c) 450 million
Wrong! Try again..
Wrong! The correct answer is 332 million . Estimates in the late 1970s put the number of people who lived in poverty at 300 million, or nearly 50 per cent of the population at the time. Poverty was reduced during the 1980s, and in 1989 it was estimated that about 26 per cent of the population, or 220 million people, lived below the poverty line. Slower economic growth and higher inflation in 1990 and 1991 reversed this trend. In 1991, it was estimated that 332 million people, or 38 per cent of the population, lived below the poverty line.
Correct! Estimates in the late 1970s put the number of people who lived in poverty at 300 million, or nearly 50 per cent of the population at the time. Poverty was reduced during the 1980s, and in 1989 it was estimated that about 26 per cent of the population, or 220 million people, lived below the poverty line. Slower economic growth and higher inflation in 1990 and 1991 reversed this trend. In 1991, it was estimated that 332 million people, or 38 per cent of the population, lived below the poverty line.
4. In 1991, when India's GDP growth rate fell drastically, inflation peaked to what percentage? a) 11 % b) 22 % c) 17 %
Wrong! Try again..
Wrong! The correct answer is 17% . The balance of payments crisis of 1990 and subsequent policy changes led to a temporary decline in the GDP growth rate, which fell from 6.9 per cent in 1989 to 4.9 per cent in 1990 to 1.1 per cent in FY 1991. Inflation then peaked at 17 per cent in FY 1991 and fell to 9.5 per cent by FY 1993, temporarily accelerating in between. For 2003-04, inflation is expected to be below 4 per cent..
Correct! The balance of payments crisis of 1990 and subsequent policy changes led to a temporary decline in the GDP growth rate, which fell from 6.9 per cent in 1989 to 4.9 per cent in 1990 to 1.1 per cent in FY 1991. Inflation then peaked at 17 per cent in FY 1991 and fell to 9.5 per cent by FY 1993, temporarily accelerating in between. For 2003-04, inflation is expected to be below 4 per cent.
5. What percentage of India's GDP does the IT services industry contribute to? a) 3 % b) 2% c) 1.5 %
Wrong! Try again..
Wrong! The correct answer is 3% . The Indian IT market has grown from Rs 5,450 crores ($ 1.73 billion) in 1994-95 to Rs. 79,337 crores ($ 16.5 billion) in 2002-03, accounting for 3 per cent of India's GDP in 2002-03. The IT industry has created employment opportunities for over 700,000 professionals in India in the year 2002-03. The growth in the Indian IT industry was largely driven by exports.
Correct! The Indian IT market has grown from Rs 5,450 crores ($ 1.73 billion) in 1994-95 to Rs. 79,337 crores ($ 16.5 billion) in 2002-03, accounting for 3 per cent of India's GDP in 2002-03. The IT industry has created employment opportunities for over 700,000 professionals in India in the year 2002-03. The growth in the Indian IT industry was largely driven by exports.
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