On the basis of the given data, comment upon the annual growth of Gross Domestic Product (GDP) of India and China.
Annual Growth of Gross Domestic Product (%), 1980 – 2017 Country 1980 – 90 2015 – 2017 2022 India 5.7 7.3 7.0 China 10.3 6.8 3.0 Pakistan 6.3 5.3 4.8
On the basis of the given data, comment upon the annual growth of Gross Domestic Product (GDP) of India and China.
| Annual Growth of Gross Domestic Product (%), 1980 – 2017 | |||
|---|---|---|---|
| Country | 1980 – 90 | 2015 – 2017 | 2022 |
| India | 5.7 | 7.3 | 7.0 |
| China | 10.3 | 6.8 | 3.0 |
| Pakistan | 6.3 | 5.3 | 4.8 |
Show Hint
Solution and Explanation
The question asks only about India and China, so we leave out the Pakistan row.
| Country | 1980-90 | 2015-17 | 2022 |
|---|---|---|---|
| India | 5.7 | 7.3 | 7.0 |
| China | 10.3 | 6.8 | 3.0 |
Step 2: Comment on China:
China grew at 10.3 percent in 1980-90. This is near double-digit growth, achieved after the reforms of the late 1970s.
At that time even many developed countries found it hard to keep growth at 5 percent.
China growth then slowed to 6.8 percent in 2015-17 and further to 3.0 percent in 2022.
Step 3: Comment on India:
India grew at a fair rate of 5.7 percent in the 1980s.
Its growth rose to 7.3 percent in 2015-17 and stayed high at 7.0 percent in 2022.
So India shows steady progress and no slowdown.
Step 4: Compare the two:
In the 1980s China grew much faster than India. In 2015-17 India moved ahead, and by 2022 India led by a wide margin.
China growth fell by 7.3 points between 1980-90 and 2022, while India growth rose by 1.3 points.
Final Answer:
China had near double-digit growth (10.3 percent) in 1980-90 but slowed to 6.8 percent and then 3.0 percent. India grew from 5.7 percent to 7.3 percent and 7.0 percent, so India has overtaken China in annual GDP growth.
Top CBSE CLASS XII Economics Questions
___________ farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance.
(Choose the correct alternative to fill in the blank):The present day rapid industrial growth in China can be traced back to the economic reforms introduced in 1978, where ________ .
(Choose the correct alternative to fill in the blank):
(i) Initially reforms were initiated in agriculture, foreign trade and investment sectors.
(ii) The policy of dual pricing was adopted.
(iii) The Government revoked the policy of Special Economic Zones.Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): In the recent past, Indian economy has been facing the problem of jobless growth.
Reason (R): Jobless growth refers to a situation where an economy is able to produce more goods and services without generating additional employment.Read the following statements carefully:
Statement 1: India, Pakistan, and China have similar physical endowments but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.Read the following statements carefully:
Statement 1: India, Pakistan and China have similar physical endowments, but totally different political systems.
Statement 2: Both India and Pakistan laid great emphasis on creating a large private sector.
Top CBSE CLASS XII Indian Economy Questions
_______ farming is a system that is helpful in restoring, maintaining and enhancing the ecological balance.
(Choose the correct alternative to fill in the blank):Read the following statements: Assertion (A) and Reason (R). Choose the correct alternative from those given below:
Assertion (A): In the recent past, Indian economy has been facing the problem of jobless growth.
Reason (R): Jobless growth refers to a situation where an economy is able to produce more goods and services without generating additional employment.- “The Government of India has taken various measures to align the agricultural marketing system with the growing production activities in the rural areas.”
Do you agree with the given statement? Give any two valid reasons in support of your answer. - “The participation rate of people in economic activities in rural areas is more than that in urban areas.”
Justify the given statement. “An increase in the credit creation capacity of commercial banks has a direct impact on the money supply in an economy.”
Discuss the given statement.
Top CBSE CLASS XII Questions
- 2, b, c are in A.P. and the range of determinant $\begin{vmatrix}1&1&1\\ 2&b&c\\ 4&b^{2}&c^{2}\end{vmatrix}$ is [2, 16]. Then find range of c is
- A boy of mass 50 kg is standing at one end of a, boat of length 9 m and mass 400 kg. He runs to the other, end. The distance through which the centre of mass of the boat boy system moves is
- A capillary tube of radius r is dipped inside a large vessel of water. The mass of water raised above water level is M. If the radius of capillary is doubled, the mass of water inside capillary will be
- A circular disc is rotating about its own axis. An external opposing torque 0.02 Nm is applied on the disc by which it comes rest in 5 seconds. The initial angular momentum of disc is
- A circular disc is rotating about its own axis at uniform angular velocity \(\omega.\) The disc is subjected to uniform angular retardation by which its angular velocity is decreased to \(\frac {\omega}{2}\) during 120 rotations. The number of rotations further made by it before coming to rest is