Economy of India Transition Quiz

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Questions and Answers

Which model did successive governments in India follow from independence in 1947 until 1991?

  • Mixed market model
  • Capitalist model
  • Socialist model
  • Soviet model (correct)

What has been the average annual GDP growth of India since the start of the 21st century?

  • 5% to 6%
  • 3% to 4%
  • 6% to 7% (correct)
  • 8% to 9%

What percentage of India's GDP is driven by domestic consumption?

  • 40%
  • 60%
  • 20%
  • 70% (correct)

What characterizes the economic policies followed by successive governments in India from 1947 until 1991?

<p>Protectionist (A)</p> Signup and view all the answers

What led to the adoption of broad economic liberalisation in India in 1991?

<p>Balance of payments crisis (B)</p> Signup and view all the answers

What is the rank of India by GDP (nominal) on a per capita income basis?

<p>139th (A)</p> Signup and view all the answers

What is India's ranking on the Ease of doing business index?

<p>63rd (C)</p> Signup and view all the answers

During which global event did India face a mild economic slowdown in 2008?

<p>The 2008 global financial crisis (A)</p> Signup and view all the answers

What is the foreign direct investment (FDI) in India in 2021–22?

<p>$82 billion (B)</p> Signup and view all the answers

Which sector makes up more than 50% of India's GDP?

<p>The service sector (A)</p> Signup and view all the answers

What percentage of India's population is rural?

<p>Nearly 65% (C)</p> Signup and view all the answers

What is India's gross domestic savings rate as a percentage of GDP in 2022?

<p>29.3% (B)</p> Signup and view all the answers

During which period is referred to as India’s lost decade?

<p>2004–2014 (D)</p> Signup and view all the answers

Where do the Bombay Stock Exchange and National Stock Exchange rank among the world's largest stock exchanges by market capitalisation?

<p>Some of the world's largest stock exchanges by market capitalisation (A)</p> Signup and view all the answers

What is India's overall social spending as a share of GDP in 2021–22?

<p>8.6 (D)</p> Signup and view all the answers

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