GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which sector of the indian economy was affected the most by Demonetization?
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Exports
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Tourism
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Banking
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Labour
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Explanation:
Detailed explanation-1: -While the growth rate was partially higher in the following quarter or two due to low base effects, quarterly real GDP growth fell from the 9 per cent levels seen in FY17 and FY18 to 3 per cent in the last quarter of FY20. MSMEs bore the biggest brunt of demonetisation.
Detailed explanation-2: -Agriculture. Demonetisation adversely affected transactions in the agriculture sector, which are heavily dependent on cash.
Detailed explanation-3: -From over 52 per cent, the share of the informal sector in the economy has shrunk to 15-20 per cent since demonetisation.
There is 1 question to complete.