Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

During the reform period in year 1991, what happened to the growth of "Agriculture sector"?

Options:

The growth of agriculture sector decreased

The growth of agriculture sector increased

The growth of agriculture sector showed a mixed trend

The growth of agriculture sector was stagnant 

Correct Answer:

The growth of agriculture sector decreased

Explanation:

The reform process has completed three decades since its introductio nin 1991. The post–1991 India witnessed a rapid growth in GDP on a continual basis for two decades. The growth of GDP increased from 5.6 per cent during 1980–91 to 8.2 per cent during 2007–12. During the reform period, the growth of agriculture has declined. While the industrial sector reported fluctuation, the growth of the service sector has gone up. This indicates that GDP growth is mainly driven by growth in the service sector.