2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As per the report of DBS, India’s Gross domestic Product(GDP) will contract by how much in FY21?
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3%
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8%
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5%
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6%
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Explanation:
Detailed explanation-1: -The services sector of India remains the engine of growth for India’s economy and contributed 53% to India’s Gross Value Added at current prices in FY21-22 (as per advance estimates).
Detailed explanation-2: -GDP = private consumption + gross private investment + government investment + government spending + (exports – imports). GDP is usually calculated by the national statistical agency of the country following the international standard.
Detailed explanation-3: -Sector-wise GDP of India The services sector accounts for 53.89% of total India’s GVA of 179.15 lakh crore Indian rupees.
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