2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.4
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6.8
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7.6
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7.1
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Detailed explanation-1: -India’s economy grew by 8.0 per cent in fiscal year (FY) 2016 (April 2015-March 2016), the fastest pace since 2011-12. However, in 2016-17 the GDP growth rate slowed down to 7.1 per cent, mostly on account of deceleration in gross fixed capital formation.
Detailed explanation-2: -Last updated: The Economic Survey 2016-17, was tabled in the Parliament on January 31, 2017, by Mr Arun Jaitley, Union Minister for Finance, Government of India. The Survey forecasts a growth rate of 6.75 to 7.5 per cent for FY18, as compared to the expected growth rate of 6.5 per cent in FY17.
Detailed explanation-3: -The per capita net national income in 2016-17 was Rs 1, 03, 870, up 10.3% from the previous fiscal year ended March 2016. (at Rs 94, 130). The per capita income is a crude indicator of the prosperity of a country. In 2017-18, the growth rate in per capita income is expected to be 5.4%, down from 5.7% the previous year.
Detailed explanation-4: -In 2016-17, the contribution of primary, secondary and tertiary sectors to India’s GDP (hypothetical figures) was 17.6%, 28.2% and 54.2% respectively. In 2017-18, these shares were 17.7%, 27.0% and 55.3% respectively. Present this information in the form of a table.
Detailed explanation-5: -Gross Domestic Product (GDP): The Central Statistics Office (CSO) has estimated the GDP growth to be 6.5% in 2017-18 as compared to 7% in 2016-17.