India: Agriculture contributes 16% to GVA but employs 43% of the workforce, indicating disguised unemployment. The services sector dominates GVA (54%) with only 32% of the workforce.
China: A higher share of GVA comes from the industrial sector (41%), with a balanced workforce distribution in services and industry sectors.
Key Observation: India lags in industrialization compared to China, with a higher dependency on agriculture despite lower GVA contribution.
List-I | List-II | ||
|---|---|---|---|
| A | Money supply is exogenously given. | I | Post-Keynesian school |
| B | Money supply is demand driven and credit led. | II | Say’s law |
| C | Rational expectation. | III | Monetarism |
| D | Supply creates its own demand | IV | Neo-classical school |
