5 Questions
What is the current status of India's economy?
India has transitioned to a mixed middle-income developing social market economy with notable public sector in strategic sectors.
Where does India rank in terms of nominal GDP and purchasing power parity?
India is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).
What economic policies were followed by India from 1947 to 1991?
Successive governments followed Soviet model and promoted protectionist economic policies, with extensive Sovietization, state intervention, demand-side economics, natural resources, bureaucrat driven enterprises, and economic regulation.
What led to the adoption of economic liberalization in India in 1991?
The end of the Cold War and an acute balance of payments crisis in 1991 led to the adoption of broad economic liberalization in India and indicative planning.
What has been the average GDP growth in India since the start of the 21st century?
The annual average GDP growth has been positive since the start of the 21st century.
Test your knowledge of the Indian economy with this quiz! Explore India's transition from a planned economy to a developing social market economy and its global economic rankings. See how well you know India's economic landscape.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
