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With reference to the Indian economic growth, consider the following statements:
1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.
2. The first quarter GDP was even lower than that of the first quarter of 2018-19.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
With reference to the Indian economic growth, consider the following s...
India’s Gross Domestic Product (GDP) grew by 20.1% in the first quarter of 2021-22, compared with the 24.4% contraction recorded in the corresponding quarter a year ago, but economic activity remained well below the pre-pandemic levels, thanks to the second wave of COVID-19.
- Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.
- GVA from agriculture, forestry and fishing, the only sector to grow amid last year’s national lockdown, picked up pace to grow 4.5% in Q1 this year from 3.5% in Q1 2020-21.
- Overall GVA in Q1 was still 7.8% lower than the first quarter of 2019-20, at ₹30,47,516 crore, while GDP remained 9.2% lower, indicating that the economy still has some way to go before it returns to activity levels prevalent prior to the pandemic.
- Electricity, gas, water supply and other utility services, whose GVA grew 14.3% in Q1 of 2021-22, compared with a 9.9% fall last year, was the only sector along with agriculture, forestry and fishing, to recover beyond the pre-pandemic levels of 2019-20.
- The first quarter GDP was even lower than that of the first quarter of 2018-19.
- Hence both statements are correct.
Most Upvoted Answer
With reference to the Indian economic growth, consider the following s...
India’s Gross Domestic Product (GDP) grew by 20.1% in the first quarter of 2021-22, compared with the 24.4% contraction recorded in the corresponding quarter a year ago, but economic activity remained well below the pre-pandemic levels, thanks to the second wave of COVID-19.
- Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.
- GVA from agriculture, forestry and fishing, the only sector to grow amid last year’s national lockdown, picked up pace to grow 4.5% in Q1 this year from 3.5% in Q1 2020-21.
- Overall GVA in Q1 was still 7.8% lower than the first quarter of 2019-20, at ₹30,47,516 crore, while GDP remained 9.2% lower, indicating that the economy still has some way to go before it returns to activity levels prevalent prior to the pandemic.
- Electricity, gas, water supply and other utility services, whose GVA grew 14.3% in Q1 of 2021-22, compared with a 9.9% fall last year, was the only sector along with agriculture, forestry and fishing, to recover beyond the pre-pandemic levels of 2019-20.
- The first quarter GDP was even lower than that of the first quarter of 2018-19.
- Hence both statements are correct.
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With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Indian economic growth, consider the following statements:1. Gross Value Added (GVA) in the economy during the April to June period rose 18.8%, as per the National Statistical Office (NSO), from a 22.2% dip in the first quarter of 2020-21.2. The first quarter GDP was even lower than that of the first quarter of 2018-19.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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