"The economies of China, India and Pakistan differ in terms of sectoral growth." Comment. (6 Marks)
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Answer:
The economic impact of the 2020 coronavirus pandemic in India has been largely disruptive. India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy.
See Also: China and India are the two emerging economies of the world. As of 2019, China and India is 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place.
China attains maximum gdp growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never.
The speakers further agreed that it is a mistake to think of the growth of the two countries as essentially similar. Patterns of economic development in India and China are quite different, and this has an important bearing on forecasts for the two economies and, for that matter, strategies for dealing with the two countries.
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