Q. With reference to Indian economy, consider the following statements : - The Gross Domestic Product (GDP) has increased by four times in the last 10 years.
- The percentage share of Public Sector in GDP has declined in the last 10 years.
Which of the statements given above is/are correct? (UPSC Prelims 2010)
Answer:
2 only
Notes: India's nominal GDP in FY 2014-15 was approximately ₹125 lakh crore, rising to about ₹301 lakh crore by FY 2023-24, a roughly 2.4-fold increase, not four times, invalidating statement 1. Statement 2 is correct as the public sector's share (center and states combined) declined from about 27% in FY13 to 25% in FY23, driven by private sector growth post-liberalization and privatization.