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The annual growth rate of real GDP of India in 2014-15?
1. 7.2%
2. 7.8%
3. 7%
4. 7.5%

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Correct Answer - Option 1 : 7.2%

The correct answer is 7.2%.

  • The annual growth rate of the real GDP of India in 2014-15 is 7.2%.
    • The economic growth rate for 2014-15 to 7.2 percent from its earlier estimate of 7.3 percent, and that for 2013-14 to 6.6 percent from the previous 6.9 percent.
    • GDP growth is expected to accelerate between 8.1 and 8.5 percent in 2015-16.
    • The Gross National Income at current prices was estimated at Rs 134.19 lakh crore in 2015-16, against Rs 123.41 lakh crore during 2014-15, showing a rise of 8.7 percent.

  • Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
  • GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.
  • GDP can be calculated in three ways, using expenditures, production, or incomes. It can be adjusted for inflation and population to provide deeper insights.
  • Though it has limitations, GDP is a key tool to guide policy-makers, investors, and businesses in strategic decision-making
  • The calculation of a country’s GDP encompasses all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade. 

 

India GDP Growth Rate
Year GDP Growth (%) Annual Change
2020 -7.96% -12.01%
2019 4.04% -2.49%
2018 6.53% -0.26%
2017 6.80% -1.46%
2016 8.26% 0.26%


 

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