In the context of Indian economy, consider the following statements: 1) The growth rate of GDP has steadily increased in the last five years. 2) The growth rate in per capita income has steadily increased in the last five years. Which of the statements given above is/are correct?

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CollectorBabu · Accepted Answer

Correct Answer: Neither 1 nor 2. It is noticed that the growth rate in GDP in India is not a steady trend due to the fluctuations in domestic as well as the global economy. From the data issued by Planning Commission, MoSPI, RBI, the growth rate in GDP has never been steady. If the GDP growth rate is not steady, the per-capita income growth rate could also not be steady.

In the context of Indian economy, consider the following statements: 1) The growth rate of GDP has steadily increased in the last five years. 2) The growth rate in per capita income has steadily increased in the last five years. Which of the statements given above is/are correct?

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