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Questions and Answers
What position is India projected to reach in the global economy in the next decade?
What position is India projected to reach in the global economy in the next decade?
- Fourth
- Second
- Third (correct)
- Fifth
What is the estimated market capitalization of India's stock market by 2030?
What is the estimated market capitalization of India's stock market by 2030?
- $7 trillion
- $15 trillion
- $5 trillion
- $10 trillion (correct)
What percentage of India's GDP was contributed by the IT and BPM sectors in FY 2022?
What percentage of India's GDP was contributed by the IT and BPM sectors in FY 2022?
- 8.1%
- 6.4%
- 7.4% (correct)
- 5.7%
From what rank did India improve to in the World Bank's Ease of Doing Business ranking from 2014 to 2019?
From what rank did India improve to in the World Bank's Ease of Doing Business ranking from 2014 to 2019?
What is the estimated revenue from India's IT industry for the fiscal year 2023?
What is the estimated revenue from India's IT industry for the fiscal year 2023?
What is a major barrier to India attracting more investments?
What is a major barrier to India attracting more investments?
What was the market size of consumer goods in India in 2022?
What was the market size of consumer goods in India in 2022?
What is a significant factor contributing to the expected growth in demand within India?
What is a significant factor contributing to the expected growth in demand within India?
What major event in 1947 led to the division of British India?
What major event in 1947 led to the division of British India?
Which empire established a significant cultural influence in southern India during the 15th century?
Which empire established a significant cultural influence in southern India during the 15th century?
What describes India's political system since gaining independence in 1947?
What describes India's political system since gaining independence in 1947?
Which of the following factors has historically contributed to India's economic challenges?
Which of the following factors has historically contributed to India's economic challenges?
What major reforms in labor are expected to culminate in?
What major reforms in labor are expected to culminate in?
What is a key characteristic of India’s market as identified by experts?
What is a key characteristic of India’s market as identified by experts?
What was the primary role of the British East India Company in India?
What was the primary role of the British East India Company in India?
Which religion emerged in the Punjab region, rejecting institutionalized religion?
Which religion emerged in the Punjab region, rejecting institutionalized religion?
What economic challenge might impact India's capital inflows in FY 2024?
What economic challenge might impact India's capital inflows in FY 2024?
In what way did the Second World War influence India’s political climate?
In what way did the Second World War influence India’s political climate?
Which path did India choose regarding economic methods after World War II?
Which path did India choose regarding economic methods after World War II?
What aspect of society characterizes India, highlighting its diversity?
What aspect of society characterizes India, highlighting its diversity?
What percentage of India's economic activity is contributed by consumption and investments?
What percentage of India's economic activity is contributed by consumption and investments?
How did India’s exports perform during the pandemic?
How did India’s exports perform during the pandemic?
What projection is made for India's exports by 2030 according to Piyush Goyal?
What projection is made for India's exports by 2030 according to Piyush Goyal?
Which of the following factors is likely to weaken the contribution of merchandise exports to India's GDP?
Which of the following factors is likely to weaken the contribution of merchandise exports to India's GDP?
What was the peak non-performing loan rate reached in India in March 2018?
What was the peak non-performing loan rate reached in India in March 2018?
Which of the following factors significantly contributed to the economic stagnation in India from 2009 to 2014?
Which of the following factors significantly contributed to the economic stagnation in India from 2009 to 2014?
During which years did India experience annual inflation rates of double digits?
During which years did India experience annual inflation rates of double digits?
What was the average annual depreciation rate of the Indian rupee between 2009 and 2014?
What was the average annual depreciation rate of the Indian rupee between 2009 and 2014?
What economic strategy did India employ from 1950 to 1980?
What economic strategy did India employ from 1950 to 1980?
What was one of the outcomes of the pro-business reforms implemented after 1980?
What was one of the outcomes of the pro-business reforms implemented after 1980?
Which of the following best describes the fiscal condition of India in the fiscal year 2013?
Which of the following best describes the fiscal condition of India in the fiscal year 2013?
What was a significant aspect of the monetary policy in India from 2009 to 2014?
What was a significant aspect of the monetary policy in India from 2009 to 2014?
What led to the crisis of balance of payments in 1990-91?
What led to the crisis of balance of payments in 1990-91?
Which sector became the primary driver of growth and employment in India during the 1990s and 2000s?
Which sector became the primary driver of growth and employment in India during the 1990s and 2000s?
What was one of the main challenges faced by the Indian economy before 2014?
What was one of the main challenges faced by the Indian economy before 2014?
What significant economic growth was predicted for India in 2023-2024?
What significant economic growth was predicted for India in 2023-2024?
Which of the following factors contributed to the structural challenges in the Indian economy?
Which of the following factors contributed to the structural challenges in the Indian economy?
What measure is NOT indicative of the infrastructure development in India from 2014 to 2023?
What measure is NOT indicative of the infrastructure development in India from 2014 to 2023?
During the post-pandemic recovery, what was the urban unemployment rate mentioned?
During the post-pandemic recovery, what was the urban unemployment rate mentioned?
What event triggered a comprehensive review of economic policy in India?
What event triggered a comprehensive review of economic policy in India?
What was the gross enrollment rate (GER) for girls in 2020?
What was the gross enrollment rate (GER) for girls in 2020?
How much did the total enrollment in higher education increase from 2014 to 2023?
How much did the total enrollment in higher education increase from 2014 to 2023?
Which reform was part of addressing the financial system crisis after 2020?
Which reform was part of addressing the financial system crisis after 2020?
What significant legislation was introduced to promote transparent real estate transactions?
What significant legislation was introduced to promote transparent real estate transactions?
What was one of the effects of the introduction of GST?
What was one of the effects of the introduction of GST?
What incentive program was introduced to boost manufacturing capacity?
What incentive program was introduced to boost manufacturing capacity?
What was the purpose of the policy to reactivate disinvestment?
What was the purpose of the policy to reactivate disinvestment?
Which law facilitated the decriminalization of minor economic offenses?
Which law facilitated the decriminalization of minor economic offenses?
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Study Notes
Indian Economy History
- India became a republic in 1950, adopting a democratic parliamentary system.
- It's a significant nuclear power with a large military budget.
- India has been the most populous democracy globally since independence in 1947.
- Strong British administrative institutions and rule of law were inherited by India.
- India's society is diverse with various religions including Hinduism, Islam, Buddhism, Christianity, and others.
- Central Asian Muslim armies intermittently invaded North India, establishing the Delhi Sultanate and influencing the region's Islamization.
- The Vijayanagara Empire fostered a distinct Hindu culture in Southern India during the 15th century.
- Sikhism emerged in the Punjab region, a religious movement rejecting institutionalized religions.
- The Mughal Empire introduced a period of relative peace in North India lasting for two centuries.
- The British East India Company colonized India, exploiting its resources and labor.
- British rule formally commenced in 1858 and persisted through the early 20th century.
- The Indian Independence movement, led by Mahatma Gandhi's nonviolent resistance, ultimately led to independence in 1947.
- The partition of India into India and Pakistan resulted in immense human suffering.
Impact of the British Empire
- The British East India Company established vast colonial control.
- The British exploited India's natural resources and labor, creating a significant economic imbalance.
- British rule greatly influenced India's infrastructure, administrative institutions and legal frameworks.
- The seeds for the Indian independence movement were sown during British rule.
India's Economic Importance
- India's GDP currently ranks among the top 5 largest in the world.
- India is experiencing rapid economic growth.
- Factors like a large, young population and a substantial middle class are driving rapid growth.
- Infrastructure challenges, poverty, and social issues remain significant constraints for India.
- India's economic rise challenges previously dominant nations and is projected to continue its rise on the world stage.
- India's economy experienced a notable resurgence in the 2000s and continues to show rapid expansion.
- India's economic growth is projected to remain high and establish India as a major player on the world stage.
- The Indian economy stands as a key player in global trade and investment.
- The country's economic future is reliant on addressing potential societal and infrastructure obstacles whilst leveraging its human resources.
India's Economic Projections
- India is projected to be the world's second largest economy by 2075.
- Estimates show a strong uptrend in India's GDP in comparison to other major world economies.
- A large, young population and an expanding middle class drive economic growth.
- The Indian economy is expected to witness continuous growth and emergence despite lingering socio-economic factors.
- Despite existing socio-economic obstacles, large-scale growth is anticipated for India.
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Description
Test your knowledge on the history of the Indian economy from ancient times to its current status. Explore key events such as the impact of British colonization, the establishment of empires, and India's journey to becoming a republic. This quiz covers significant cultural and economic developments in Indian history.
