Official Answer Key & Detailed Solution
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Correct Answer: Option (B) — 2 only
Concept & Option Breakdown
Standard Reference Verified- Statement 1 is incorrect: India's nominal GDP grew roughly 2.5 to 3 times between 2000 and 2010 (from ~$468 billion to ~$1.7 trillion), falling short of a fourfold increase.
- Statement 2 is correct: Due to post-1991 liberalization, privatization, disinvestment, and the rapid expansion of the private sector, the relative percentage contribution of the public sector to total GDP steadily decreased during this decade.
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