Economics · General Awareness

Indian Economy Statistics

995 Questions

Test your knowledge of Indian economy statistics with these targeted questions. The set covers foreign direct investment limits, global production rankings, and GDP contributions. This data is highly relevant for general awareness preparation.

Foreign direct investment limitsGlobal production rankingsGDP contribution sectorsSavings and growth rates

Indian Economy Statistics Questions

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

What is the India's GDP growth forecast for $2018$, as per latest Moody's Investors Service report "Global Macro Outlook: $2018-19$"?

  1. $7.5\%$
  2. $7.3\%$
  3. $7.4\%$
  4. $7.2\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The latest report of Moodys Investors Service has cut Indias GDP growth forecast to $7.3\%$ in 2018 from the previous estimate of $7.5\%$ due to higher oil prices and tighter financial conditions. However, Moodys maintained its 2019 growth forecast at $7.5\%$. 

The report Global Macro Outlook: 2018-19 stated that the Indian economy is in cyclical recovery led by both investment and consumption. However, higher oil prices and tighter financial conditions will weigh on the pace of acceleration. The private investment cycle will continue to make a gradual recovery, as twin balance-sheet issues impaired assets at banks and corporates slowly get addressed through deleveraging and the application of the Insolvency and Bankruptcy Code.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

India's per capita Income is _______.

  1. 220 dollars

  2. 1670 dollars

  3. 2930 dollars

  4. 600 dollars
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Per capita income is an important criterion used to measure the development of countries. It is also known as average income. It is calculated to know what an average purpose is likely to earn. 

On the basis of per capita income, the countries are classified as rich and low-income countries. This is calculated in dollars for all countries so that the comparison can be made. 

In this context, India’s per capita income is 1670 dollars.

Thus, the correct answer is B.

Multiple choice geography economic growth and development development and growth need for sustainable development economics of development

The main problem of Indian economy is ________.

  1. population growth

  2. rampant corruption

  3. acute shortage of water

  4. inflation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

While India faces many challenges, rapid population growth is widely cited in economic literature as a primary constraint that dilutes the benefits of economic growth and strains resources.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Over the period of planning Indias BOP has remained _________.

  1. favourable

  2. unfavourable

  3. in equilibrium

  4. none of above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

India has historically faced a persistent current account deficit due to high import costs, particularly for oil and capital goods. This structural imbalance means the Balance of Payments (BOP) has generally remained unfavourable throughout the planning period.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Which of the following is/are correct about India's present fiscal situation?
1. Aggregate tax to GDP ratio of India is around 17 per cent.
2. The tax to GDP ratio of the Government of India (GoI) is around 10 per cent.
3. The tax to GDP ratio of the GoI falls to around 6.5 per cent after devolution to states.

  1. Only 1

  2. Only 2

  3. 1 and 2

  4. 1,2 and 3
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

These figures represent the standard estimates for India's tax-to-GDP ratio. The aggregate ratio includes both center and state taxes, while the center's share is lower, and it decreases further after the constitutional devolution of funds to states.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

India met huge deficit in current account through _________.

  1. withdrawals and borrowings from IMF

  2. utilization of foreign exchange reserves

  3. both above

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

India has historically managed current account deficits by utilizing foreign exchange reserves and accessing international credit facilities like those provided by the IMF.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

Current account deficit as a % of GDP _______ from___ % during pre crisis period to ______% during post crisis period

  1. declined, 1.9, 1

  2. declined, 2.9, 1.9

  3. increased, 1, 1.9

  4. increased, 2.9, 3.9
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Historical economic data indicates that India's current account deficit as a percentage of GDP declined from approximately 1.9% in the pre-crisis period to 1% in the post-crisis period.

Multiple choice economics meaning and scope of public finance public finance, budget and fiscal policy government budget and economy public finance and budget

The share of net invisible earnings in financing trade deficit ___ from ____ n sixth plan to ___ in seventh plan.

  1. declined, 6396, 29.5%

  2. increased, 29.5%, 63%

  3. declined 67%, 63%

  4. increased 63%, 85%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statistical analysis of India's trade accounts during the sixth and seventh plans shows a decline in the share of net invisible earnings relative to the trade deficit.

Multiple choice geography world population reproductive health in humans international development international development and world

Nearly _______ percent of working population (including construction) is engaged in the service sector in $2011-12$.

  1. $27$ per cent
  2. $45$ per cent
  3. $80$ per cent
  4. $50$ per cent
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In $2009-10$ exactly $25.3$% of working population is engaged in the service sector but including construction sector it is $35$%.