In which year did the GDP of India crossed the 2 trillion-dollar mark?
Show answer & explanation
Correct answer: B
Explanation
Correct Answer:
Option 2: 2014
Explanation:
India's Gross Domestic Product (GDP) crossed the $2 trillion mark in the year 2014. This was a significant milestone for India's economy, positioning India among the world's major economies. The service sector (IT, banking, telecom) and the industrial sector played a major role in driving this growth. Foreign Direct Investment (FDI) and an increase in exports also contributed to making this achievement possible. Subsequently, India's economy continued to grow at an accelerated pace, and today, it ranks among the world's top economies.
Additional Facts:
Option 1: This level had not been reached in 2012.
Option 3: By 2016, this milestone had already been surpassed.
Option 4: By 2018, it had advanced significantly beyond this point.
Potential Questions for Upcoming Exams:
Question: Who calculates India's GDP?
Answer: National Statistical Office (NSO)
Question: What is the full form of GDP?
Answer: Gross Domestic Product
Question: What is India's current ranking among the world's largest economies?
Answer: 5th
Question: Which sector contributes the most to the GDP?
Answer: The Service Sector