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Indian Economy Transition Quiz

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Questions and Answers

What was the economic model followed by successive Indian governments from 1947 until 1991?

Mixed middle-income developing social market economy

Capitalist model with free market economics

Soviet model with protectionist economic policies (correct)

Colonial model with extensive international trade

What is the current rank of India in terms of per capita income based on nominal GDP?

5th

127th

139th (correct)

3rd

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

Overwhelming foreign investment

Fiscal surplus

Acute inflation

Balance of payments crisis (correct)

What percentage of the global economy does India account for in 2022 in PPP terms?

<p>7.2%</p> Signup and view all the answers

What were the contributing factors to the reversal of economic growth and poverty reduction in India due to COVID-19?

<p>Credit access weaknesses and new social and infrastructure equity efforts</p> Signup and view all the answers

Indian Economy Transition Quiz

Choose a study mode

Podcast

Questions and Answers

What was the economic model followed by successive Indian governments from 1947 until 1991?

What is the current rank of India in terms of per capita income based on nominal GDP?

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

What percentage of the global economy does India account for in 2022 in PPP terms?

What were the contributing factors to the reversal of economic growth and poverty reduction in India due to COVID-19?

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