Question
Download Solution PDFWhat is a good indicator to identify the effect of policies on the industrial sector?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Rise in share of Industry sector in the GDP.
Key Points
- Industrial Indicator is a statistical combination of multiple factors.
- The Big three Industrial Indicators are
- Gross Domestic Product (GDP)
- Inflation
- Unemployment
- GDP is an essential Indicator because the fall and rise of GDP created a significant impact on other Indicators.
Important Points
- GDP:
- Gross Domestic Product (GDP) is the total monetary value of final goods and services produced in the economic territories of a country in a given year.
- The total GDP of India is currently $ 3.46 trillion.
- According to World Economy Ranking 2022, India has recently overtaken the UK to become the fifth largest economy in the world.
- Inflation:
- Inflation refers to a general increase in the prices of goods and services in an economy in a given period.
- According to RBI October month retail, Inflation is 6.77%
Last updated on Jun 17, 2025
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