The Indian Economy
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Questions and Answers

What transition has the Indian economy undergone?

  • From a mixed planned economy to a mixed low-income developing social market economy
  • From a mixed planned economy to a mixed high-income developed social market economy
  • From a mixed planned economy to a mixed middle-income developing social market economy (correct)
  • From a mixed planned economy to a mixed high-income developing social market economy

    • What was the economic system followed by successive governments in India from 1947 until 1991?

  • Market economy
  • Mixed economy
  • Capitalist economy
  • Soviet style planned economy (correct)

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

  • The end of the Cold War and an acute balance of payments crisis in 1991 (correct)
  • The beginning of the Cold War and an acute balance of payments crisis in 1991
  • The end of the Cold War and a minor balance of payments crisis in 1991
  • The beginning of the Cold War and a minor balance of payments crisis in 1991

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

    <p>6% to 7%</p> Signup and view all the answers

    What is India's rank by GDP (nominal) per capita income basis according to the International Monetary Fund (IMF)?

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

    What is India's rank by GDP (PPP) per capita income basis according to the International Monetary Fund (IMF)?

    <p>127th</p> Signup and view all the answers

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