Question
India's growth in GDP during FY 2022 is estimated at 8.7 percent, beating both China and the US. The unemployment rate, however, has been hovering
India's growth in GDP during FY 2022 is estimated at 8.7 percent, beating both China and the US. The unemployment rate, however, has been hovering around 7% or 8%, up from about 5% five years ago, well above the level in China and the US. Write a short essay to explain,
A. What is the industrial structure in India after the economic reform in the 1990s, in terms of the evolving output proportion of the primary, secondly, and tertiary output in GDP? [5 marks] B. Explain why the fast growth in India has failed to generate sufficient job opportunities and lead to the decline of unemployment [5 marks]
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