ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The rate of growth of per capita output per year during the first half of the twentieth century was only half percent (0.5 percent) per year during the first half of the twentieth century due to lack of self-sufficiency, lack of modernization, etc.

Detailed explanation-2: -The country’s growth of aggregate real output during the first half of the twentieth century was less than two per cent coupled with a mere half per cent growth in per capita output per year.

Detailed explanation-3: -Most of these studies revealed that Indian economy grew at even less than two percent during 1900-50 with half per cent growth in per capita output per year.

Detailed explanation-4: -By 1870, it had fallen to 12%, and by 1947 to 4%. India’s per-capita income remained mostly stagnant during the Raj, with most of its GDP growth coming from an expanding population. Per capita income growth from 1850 to 1900 is estimated to range from 0.75% to 1.25% annually.

Detailed explanation-5: -As a result, India’s share in global GDP more than doubled from 2.5 per cent in 1980 to 5.5 per cent in 2010, it said. Consequently, India’s rank in per capita GDP showed an improvement from 117 in 1990 to 101 in 2000 and further to 94 in 2009.