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Consider the following statements regarding the economic divide between high-skilled and low-skilled jobs in India:
1. The services sector has significantly contributed to job creation in India, particularly in IT, banking, and finance, leading to a decline in traditional labour-intensive industries such as apparel and footwear.
2. India's manufacturing sector has consistently contributed around 25% of GDP, meeting the target set by the government.
3. High tariffs on essential intermediate inputs have increased production costs, affecting the competitiveness of Indian producers in the global market.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding the economic divide betwee...
- Statement 1: This statement is correct. The Indian economic growth has indeed been driven by the services sector, especially in IT, banking, and finance. This shift has led to a significant decline in traditional industries such as apparel and footwear, which are crucial for the livelihoods of many low-skilled workers.
- Statement 2: This statement is incorrect. The manufacturing sector in India has stagnated at around 14% of GDP, falling short of the government's target of 25%. This shortfall has contributed to the widening gap between high-skilled and low-skilled jobs.
- Statement 3: This statement is correct. Since 2017, India has reversed the tariff reductions that began in the early 1990s, leading to an increase in the average Most Favoured Nation (MFN) tariff to 18.1% in 2022. This rise in import tariffs on essential intermediate inputs has elevated production costs, diminishing the competitiveness of Indian producers in the global market.
Thus, the correct answer is Option C.
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Consider the following statements regarding the economic divide between high-skilled and low-skilled jobs in India:1. The services sector has significantly contributed to job creation in India, particularly in IT, banking, and finance, leading to a decline in traditional labour-intensive industries such as apparel and footwear.2. India's manufacturing sector has consistently contributed around 25% of GDP, meeting the target set by the government.3. High tariffs on essential intermediate inputs have increased production costs, affecting the competitiveness of Indian producers in the global market.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the economic divide between high-skilled and low-skilled jobs in India:1. The services sector has significantly contributed to job creation in India, particularly in IT, banking, and finance, leading to a decline in traditional labour-intensive industries such as apparel and footwear.2. India's manufacturing sector has consistently contributed around 25% of GDP, meeting the target set by the government.3. High tariffs on essential intermediate inputs have increased production costs, affecting the competitiveness of Indian producers in the global market.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the economic divide between high-skilled and low-skilled jobs in India:1. The services sector has significantly contributed to job creation in India, particularly in IT, banking, and finance, leading to a decline in traditional labour-intensive industries such as apparel and footwear.2. India's manufacturing sector has consistently contributed around 25% of GDP, meeting the target set by the government.3. High tariffs on essential intermediate inputs have increased production costs, affecting the competitiveness of Indian producers in the global market.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the economic divide between high-skilled and low-skilled jobs in India:1. The services sector has significantly contributed to job creation in India, particularly in IT, banking, and finance, leading to a decline in traditional labour-intensive industries such as apparel and footwear.2. India's manufacturing sector has consistently contributed around 25% of GDP, meeting the target set by the government.3. High tariffs on essential intermediate inputs have increased production costs, affecting the competitiveness of Indian producers in the global market.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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