Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Employment - Growth, Informalisation and Other Issues

Question:

Consider the following statements and point out the incorrect statements.

A. During the period 1950–2010, Gross Domestic Product (GDP) of India grew positively and was higher than the employment growth.

B. During this period, employment grew at the rate of not more than 3 per cent.

C. In the late 1990s: employment growth started increasing and reached the level of growth that India had in the early stages of planning.

D. During the last five decades (1972-2018), people have moved from self-employment and regular salaried employment to casual wage work.

 

Options:

1, 2, 3 and 4

2 and 3

3 and 4

2 and 4

Correct Answer:

2 and 3

Explanation:

The correct answer is Option 2: 2 and 3

A. During the period 1950–2010, Gross Domestic Product (GDP) of India grew positively and was higher than the employment growth. This is correct.

B. During this period, employment grew at the rate of not more than 3 per cent. This is incorrect. During this period, employment grew at the rate of not more than 2 per cent

C. In the late 1990s: employment growth started increasing and reached the level of growth that India had in the early stages of planning. This is incorrect. In the late 1990s: employment growth started decreasing and reached the level of growth that India had in the early stages of planning. During these years, we also find a widening gap between the growth of GDP and employment. This means that in the Indian economy, without generating employment, we have been able to produce more goods and services. Scholars refer to this phenomenon as jobless growth.

D. During the last five decades (1972-2018), people have moved from self-employment and regular salaried employment to casual wage work. This is correct.