introduction to indian economy section 10 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Despite the developing countries’ impressive aggregate growth of the past 25 years, its benefits have only reached the poor to a very limited degree.

Not only have the poorest countries grown relatively slowly, but growth processes are such that within most developing countries, the incomes of the poor increase much less than the average.

Much of the poverty is due to severe inequality which in turn is due to lop-sided development. Income inequality is the major determinant of poverty both in developed and non-developed countries.

Rising unemployment is a major source of spreading poverty. Lack of access to crucial assets and services (health care, schooling, and infrastructure) exclude the poor from the very beginning.

Answer: (d)

Answer: (a)

Assuming national income being measured as the Gross Domestic Product (GDP), the lion’s share in the national income of India is of the SERVICE sector (tertiary sector) which stands at 57% in 2013.

India’s dynamic services sector has grown rapidly in the last decade with almost 72.4 per cent of the growth in India’s GDP in 2014-15 coming from this sector. (Source: Economic Survey 2015-16).

Answer: (d)

All these statements are components of internal debt.