Consider the following statements: 1. In the last five years, Indian software exports have increased at a compound annual growth rate of about 60% 2. The software and service industry in India registered an overall growth of about 28% in rupee terms durin

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Q: 82 (IAS/2003)
Consider the following statements:
1. In the last five years, Indian software exports have increased at a compound annual growth rate of about 60%
2. The software and service industry in India registered an overall growth of about 28% in rupee terms during the year 2001-200
2.
Which of these statements is/are correct?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,7,56,8,10,38,7

keywords: 

{'compound annual growth rate': [0, 0, 1, 0], 'overall growth': [0, 0, 1, 0], 'indian software exports': [0, 0, 1, 0], 'rupee terms': [0, 0, 2, 0], 'software': [0, 1, 1, 5], 'india': [8, 1, 7, 13], 'service industry': [0, 0, 1, 0], 'year': [27, 4, 33, 49]}

The question presents two statements about the growth of Indian software exports and then asks to identify which, if any, of these statements are correct.

Option 1 suggests that in the last five years, Indian software exports have increased at an annual compound growth rate of 60%. This means that each year the amount of software exports is said to have grown by 60% compared to the previous year, resulting in a high rate of overall increase.

Option 2 proposes that the overall growth rate of the software and service industry in India was 28% in rupee terms during the year 2001-2002. This means the total revenue or output of the industry increased by 28% in local currency (rupees) during this year.

The correct answer according to the key is Option 4, suggesting that both statements are incorrect. Therefore, neither the compound annual growth rate of the software exports was 60% over the last five years, nor the overall growth rate of the software and service industry was 28% during 2001-2002.