2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7.2%
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8.9%
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9.5%
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10.4%
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Detailed explanation-1: -Giving more details, the Minister stated that as per provisional estimates released by National Statistical Office (NSO), Indian economy in 2021-22 has fully recovered the pre-pandemic real GDP level of 2019-20. The real GDP growth in 2021-22 stands at 8.7 per cent, 1.5 per cent higher than the real GDP of 2019-20.
Detailed explanation-2: -Sector-wise GDP of India Gross Value Added (GVA) at current prices for the services sector is estimated at 96.54 lakh crore INR in 2020-21. The services sector accounts for 53.89% of total India’s GVA of 179.15 lakh crore Indian rupees. With GVA of Rs. 46.44 lakh crore, the Industry sector contributes 25.92%.
Detailed explanation-3: -According to Economic Survey 2020-21, real the growth rate for the financial year 2022 is assumed as based on IMF estimates of 11.5 Percent. In 2020–2021, the survey predicts nominal GDP growth of 15.4% and real GDP growth of 11%.
Detailed explanation-4: -The share of the industrial sector in the nominal GVA(at current prices) was 25.9 percent in 2020-21. With the industrial sector recovering and expected to grow at 11.8 percent, as per advance estimates for 2021-22 by National Statistical Office, industry’s share is expected to increase to 28.2 percent. (Figure 1).