With reference to Indian economy, consider the following statements: 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. 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
Answer: B
Explanation
Rate of growth of Real Gross Domestic Product has fluctuated a lot during the last decade and decreased significantly in 2008-09 due to global financial crisis. Gross Domestic Product at market prices (in rupees) has increased and did not show a declining treand even once during the last decade as clearly seen from the planning commission data