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UPSC 2017: Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India’s exports in world trade increased. 3. FDI inflows increased. 4. India’s foreign exchange reserves increased enormously. Select the correct answer using the codes given below:
(a)1 and 4 only
(b)2, 3 and 4 only
(c)2 and 3 only
(d)1, 2, 3 and 4
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Not attemptedCorrect Answer: (b) 2, 3 and 4 only
After 1991 liberalisation the agriculture share of GDP declined from nearly 28–29 % to below 17 % by 2016, disproving statement 1. Over the same period India’s share of global exports rose (to ~1.8 % by 2017), annual FDI inflows climbed sharply, and foreign-exchange reserves swelled from under US$6 billion in 1991 to well over US$300 billion, validating statements 2, 3 and 4. Hence option (b) is correct. ([databank.worldbank.org](https://databank.worldbank.org/India-GDP/id/c557dff4?utm_source=openai))
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What is the correct answer to this UPSC 2017 Indian Economy question?▼
The correct answer is option (b): 2, 3 and 4 only. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Economic Planning & Five-Year Plans question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2017, GS Paper 1, as Question 77. It falls under Indian Economy > Economic Planning & Five-Year Plans.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from Economic Planning & Five-Year Plans?▼
UPSC has asked 19 questions from Economic Planning & Five-Year Plans (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.