India Growth & Key Indicators — Set 1

Correct Answer: A. $3.73 trillion

India's nominal GDP crossed $3.73 trillion in 2024, making it the 5th largest economy globally. The United States leads with over $27 trillion, followed by China, Germany, and Japan. India surpassed the United Kingdom to claim the 5th position, and is on track to become the 3rd largest economy by 2030.

Correct Answer: B. 134

India ranks around 134 out of 193 countries in the HDI report published by UNDP. India falls in the 'Medium Human Development' category. Norway consistently tops the HDI rankings as the most developed nation, while Niger has often ranked last.

Correct Answer: C. Finland

Finland has topped the World Happiness Report for several consecutive years since 2018. The report is published by the UN Sustainable Development Solutions Network and measures happiness based on GDP per capita, social support, healthy life expectancy, freedom, generosity, and absence of corruption. India typically ranks in the lower half of the 143+ countries surveyed.

Correct Answer: B. 40

India ranked 40th in the Global Innovation Index (GII) 2023, a significant improvement from 81st in 2015. The GII is published jointly by WIPO, Cornell University, and INSEAD. Switzerland consistently tops GII rankings, and India's improvement reflects growth in ICT services, R&D expenditure, and startup ecosystem.

Correct Answer: B. 2021

The World Bank discontinued its Ease of Doing Business (EoDB) Index in 2021 following an investigation into data irregularities and manipulation allegations. Before discontinuation, India had improved dramatically from rank 142 in 2014 to rank 63 in 2020. The World Bank later launched a new Business Ready (B-READY) report to replace it.

Correct Answer: A. 111

India ranked 111 out of 125 countries in the Global Hunger Index (GHI) 2023, placing it in the 'serious' hunger category. GHI is published by Concern Worldwide and Welthungerhilfe and uses four indicators: undernourishment, child wasting, child stunting, and child mortality. India contests the methodology of the GHI report.

Correct Answer: C. 415 million

India lifted approximately 415 million people out of multidimensional poverty between 2005-06 and 2019-21, as reported by NITI Aayog's MPI (Multidimensional Poverty Index) in 2023. This is considered one of the largest poverty reduction achievements in history. The MPI measures poverty across health, education, and standard of living dimensions.

Correct Answer: B. Income inequality in a country

The Gini coefficient (or Gini index) measures income inequality within a country on a scale from 0 to 1 (or 0–100). A Gini of 0 represents perfect equality (everyone has same income) and 1 represents perfect inequality. India's Gini coefficient is approximately 35–37, indicating moderate inequality, though wealth concentration has been rising.

Correct Answer: B. ₹1.84 lakh

India's per capita Net National Income (NNI) at current prices reached approximately ₹1.84 lakh (₹1,84,205) in 2023-24 as per CSO/MoSPI data. This figure is used as a proxy for per capita income in official Indian statistics. It reflects the average income available to each citizen after accounting for depreciation and net factor income from abroad.

Correct Answer: C. HDI

The Human Development Index (HDI) is published by UNDP in the Human Development Report and combines three dimensions: health (life expectancy at birth), education (mean years of schooling + expected years of schooling), and standard of living (GNI per capita at PPP). Mahbub ul Haq and Amartya Sen conceptualized the HDI in 1990. Countries are classified as very high, high, medium, or low human development.