Indian Economy Statistics

At present India’s manufacturing sector contributes about 16% to the total GDP. National Manufacturing Policy (NMP) seeks to enhance the share of manufacturing in the GDP to 25 percent within a decade and create 100 million jobs in manufacturing.

Agriculture sector is correct. During 2005-06, India performed well in banking, industry, and services sectors, but agriculture was the weak link with slower growth. The agricultural sector grew at only around 2-3% during this period, lagging behind the broader 8-9% GDP growth, largely due to monsoon failures and stagnating productivity.

Correct answer is (5). 

Manufacturing Industry noticed a decline.

Production of food grains was 250.42 million tonnes. Growth in agriculture remained at 2.5%.

The Hindu Rate of Growth refers to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. 

Population explosion is considered the biggest challenge to India's development success because it puts enormous pressure on resources, infrastructure, employment, and social services. While poverty, illiteracy, and unemployment are serious problems, they are both causes and effects of overpopulation. Rapid population growth makes it extremely difficult to improve living standards despite economic progress.

According to official data, India's food grains production in 2006-07 was 217.3 million tonnes. This is a factual statistic from the Economic Survey 2007-08.

According to the Economic Survey 2007-08, India's exports as a percentage of GDP in 2006-07 stood at 14.0%. This reflects the growing importance of international trade in India's economy during the post-liberalization period.

There is no specific WTO agreement that mandates India to import a fixed percentage (5%, 10%, or 15%) of food grains out of its total imports. WTO agreements cover market access, tariff bindings, and domestic support, but do not prescribe import composition quotas for specific commodities. Therefore, 'None of these' (D) is correct.

According to UNDP's Global Human Development Report 2007, India ranked 128th out of 177 countries on the Human Development Index (HDI). This medium level of development reflected India's challenges in education, health, and income indicators despite rapid economic growth. The ranking has since improved but remains in the medium human development category.

Consumer Price Index (CPI) in India is reported by the Labour Bureau, Government of India. Historically, from 1960 until 2013, India Consumer Price Index (CPI) averaged 54.45 Index Points reaching an all time high of 221 Index Points in January of 2013 and a record low of 4.32 Index Points in April of 1960.

Correct answer is (3). 

The Indian WPI figure was earlier released weekly on every Thursday and influenced stock and fixed price markets. The Indian WPI is now updated on a monthly basis.

The volume and composition of domestic savings in India have undergone significant changes over the years. The savings rate (gross domestic savings as percentage of gross domestic product at market prices) averaged 18.6 percent in the 1980s and 23 percent in the 1990s. The savings rate exceeded 30 percent for the first time in 2004-05 and has remained above that level ever since. It peaked in 2007-08 at 36.8 percent.