India's Economic Growth Predictions 2023-2030

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Questions and Answers

What is India's predicted position in the world's economy within the next decade?

Fourth largest economy

Third largest economy (correct)

First largest economy

Second largest economy

What is the estimated market capitalization of India's stock market by 2030?

$10 trillion (correct)

$7 trillion

$4.5 trillion

$12 trillion

What percentage of India's GDP was contributed by the IT-BPM sector in FY 2022?

11.6%

9.1%

7.4% (correct)

5.2%

Which of the following was NOT mentioned as a factor for accelerating demand growth in India?

Government subsidies Signup and view all the answers

How many positions did India jump in the World Bank's Ease of Doing Business Ranking from 2014 to 2019?

79 Signup and view all the answers

What has been identified as a major issue affecting India's investment climate?

Delayed implementation of labor and land reforms Signup and view all the answers

What is the estimated domestic revenue of the IT industry in FY 2023?

$51 billion Signup and view all the answers

Which of the following elements is NOT a characteristic of India's market?

Stable population growth Signup and view all the answers

What economic issue contributed to GDP growth below 5% before 2014?

High Wholesale Price Index (WPI) inflation in food articles Signup and view all the answers

Which of the following structural constraints hindered the Indian economy pre-2014?

Large informal sector and insufficient labor absorption Signup and view all the answers

What was India’s estimated GDP growth for 2023-2024?

7.3% Signup and view all the answers

What significant political change occurred in India in 1950?

India adopted a democratic parliamentary system. Signup and view all the answers

Which aspect of urban employment changed post-2014?

Urban unemployment rate dropped to 6.6% Signup and view all the answers

Which empire is associated with a long-lasting composite Hindu culture in south India during the 15th century?

The Vijayanagara Empire Signup and view all the answers

What infrastructure development milestone was achieved in the past 9 years?

Building of 74 new airports Signup and view all the answers

What financial sector reform was introduced post-2020 to address the financial system crisis?

Recapitalization and mergers of Public Sector Banks Signup and view all the answers

What was the primary impact of British Crown rule beginning in 1858 in India?

It established a pattern of exploitation of Indian resources. Signup and view all the answers

What was a significant consequence of the 1991 Balance-of-Payments crisis in India?

Elimination of complex licensing regulations Signup and view all the answers

Which significant social reform movement in India was led by Mahatma Gandhi?

The Indian National Congress Signup and view all the answers

How did the Gross Enrolment Ratio (GER) for girls change from FY10 to 2020?

It increased from 12.7% to 27.9% Signup and view all the answers

How did the partition in 1947 affect India and Pakistan?

It caused large human suffering due to mass displacement. Signup and view all the answers

Which fiscal support measure was announced for states in FY23?

A 50-year interest-free loan of ₹1 lakh crore Signup and view all the answers

Which factor contributed to the decline in India's economic growth rate during the 1970s?

Imposition of Emergency in 1975 Signup and view all the answers

How did India's reforms in the 1980s impact its GDP growth?

GDP growth reached approximately 5.7% Signup and view all the answers

What economic milestone did India achieve recently according to the IMF?

India became the fifth-largest economy, surpassing the UK. Signup and view all the answers

What was a common issue affecting India's economy for many years?

A sprawling state sector and inefficient bureaucracy. Signup and view all the answers

What was one of the main objectives of the National Rural Employment Guarantee Scheme (NREGS)?

To provide rural employment Signup and view all the answers

Which of the following religions emerged in Punjab, rejecting institutionalized religion?

Sikhism Signup and view all the answers

Which event was a major external shock for India in the early 1990s?

The Iraq-Kuwait war Signup and view all the answers

What was a key reform introduced during the 1991 economic reforms in India?

Abolishing complex permissions and licenses Signup and view all the answers

What was the primary focus of the Sarva Shiksha Abhiyan (SSA)?

Promoting universal education Signup and view all the answers

What average growth rate did India's economy achieve in the 2000s?

6.3% per annum Signup and view all the answers

What is the estimated percentage of global employment exposed to AI?

40% Signup and view all the answers

What was the total installed capacity of renewable energy sources in India as of November 2023?

179.57 GW Signup and view all the answers

Which program aims to improve skill training for Indian youth?

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Signup and view all the answers

What proportion of account holders under the Prime Minister's Jan Dhan Yojana are women as of January 2024?

51% Signup and view all the answers

How many vaccine doses were administered in India’s COVID-19 vaccination program?

221 crore Signup and view all the answers

What is the growth outlook for India in FY24?

7.3% Signup and view all the answers

How much did the current account deficit lower to as a percentage of GDP in FY24?

1% Signup and view all the answers

What approach has been significant in addressing India’s challenges?

Mission Mode approach Signup and view all the answers

What has been the primary reason for the increase in the manufacturing sector's share in Gross Valued Added (GVA) from FY14 to FY18?

The Make in India mission Signup and view all the answers

Which event marked India's emergence as a significant global consensus builder?

Hosting the G20 Presidency Signup and view all the answers

What was one of the main challenges that led to a decrease in the investment share of GDP in the second decade?

Banks' reluctance to lend to corporates Signup and view all the answers

Which successful endeavor reached the South Pole of the Moon?

Chandrayaan-3 Signup and view all the answers

What is one of the factors that contributed to the robust percentage of the manufacturing sector's GVA remaining at 17.7% in FY24?

Implementation of Production Linked Incentive (PLI) schemes Signup and view all the answers

Which of the following was a measure taken by the government to enhance infrastructure projects?

Accelerating work on stalled projects Signup and view all the answers

Which development contributed to the service sector's increase in GVA from FY14 to FY24?

Surge in non-contact services post-pandemic Signup and view all the answers

What mechanism was established to monitor and expedite the execution of long-delayed infrastructure projects?

The Pragati/Project Monitoring Group (PMG) Signup and view all the answers

Study Notes

India's History

India became a republic in 1950, operating under a democratic parliamentary system.
It is a major nuclear power with significant military spending.
India has the world's largest population within a democracy, and maintained British rule of law and administrative institutions from 1947-1958, its independence date.
The society is multifaceted; multilingual and multiethnic which includes various religions. (Christianity, Islamism, Buddhism, Judaism, and Hinduism).
Muslim armies from Central Asia invaded and conquered northern India, originating the Delhi Sultanate.
The 15th century saw the rise of the Vijayanagara Empire, establishing a long-lasting Hindu culture in South India.
Sikhism arose in the Punjab, rejecting organized religion. In 1526, the Mughal Empire ushered in 200 years of relative peace within an Islamic governance structure.
The British East India Company established a colonial economy in India in 1858, taking little recognition of the rights of Indians.
The exploitation of India's resources and inexpensive labor was prevalent.
During WWI, over a million Indians fought for the British Empire.
A nationalist movement emerged, led by Mahatma Gandhi and the National Indian Congress, advocating for non-violent resistance.
The successful movement led to India gaining independence from British rule in 1947.
The forced partition of the British Indian Empire in 1947 resulted in India and Pakistan, two independent states with differing religious demographics with significant unrest and loss of life in both new countries.

India's Economic Significance

India has overtaken the United Kingdom as the world's fifth-largest economy, according to Capital Economics.
India saw its economy grow more than that of China for several years.
India's rise has challenged its larger neighbor China, due to the significant and consistent growth, while addressing poverty and infrastructure concerns.
Projections expect India to overtake Germany and Japan and become the world's third-largest economy in the next decade, as of recent reports.
India's economy is growing at a significantly faster rate than in past decades, and is projected to maintain this trajectory and reach a significant market valuation (GDP) in the years to come.
India's stock market is the 5th largest in the world, with a projected valuation of $10 trillion by 2030.
The IT-BPM sector contributes approximately 7.4% to India's GDP.
India's consumer market reached $3.15 trillion (USD 48.37 billion) in 2022.
The Indian economy is continuing on a steady path to significant growth and world power.

Additional Information

India's GDP growth rates have been among the highest in the world in recent years.
India is projected to have the world's second-largest economy by 2075.
India has a large middle class, which is a significant driver of economic growth.
India has made significant strides in various economic fields including space exploration and technology deployment.
The resilience of Indian citizens is a key factor in India's success as a global power.
India has achieved significant progress in the sector of industry, (including manufacturing, telecommunication, automobiles, pharmaceuticals, and biotech).

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Description

Test your knowledge about India's economic forecasts and developments. This quiz covers various aspects such as GDP growth, IT sector contributions, and India's ranking in global business metrics. Explore key factors shaping India's investment climate and economic trajectory.