According to you, growth rate of demand for ______ is generally higher than the GDP growth rate.
Answer & explanation
Correct answer: option 4
The correct answer is Option 4: Power
The most visible form of energy, which is often identified with progress in modern civilisation, is power, commonly called electricity. It is a critical component of infrastructure that determines the economic development of a country. The growth rate of demand for power is generally higher than the GDP growth rate. Studies point out that in order to have 8 per cent GDP growth per annum, power supply needs to grow around 12 per cent annually.