India: Agriculture accounts for 16% of GVA and employs 43% of the workforce, suggesting underemployment. The services sector leads GVA at 54%, utilizing 32% of the workforce.
China: The industrial sector contributes a larger portion of GVA at 41%, with workforce distribution evenly split between services and industry.
Key Observation: India's industrial development is less advanced than China's, and it relies more heavily on agriculture despite its smaller contribution to GVA.
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 |