An average Indian was slightly better off than the average Chinese in 1950s. However, today India stands substantially behind China. In which among the following fields, China has outperformed India in all these years?
1. Capital formation
2. Progress in Farm research
3. Growth in total factor productivity
Select the correct option from the codes given below:
The primary difference between the performance of the Indian and Chinese economy has been the faster growth of capital stock in China.
With only a slight difference in the growth of employment, this translated into a more rapid growth of capital intensity. The growth of total factor productivity has also been faster in China. This appears to reflect a greater ease for labour to move out of agriculture into higher productivity sectors in China than in India. China has outdistanced India in every area of economic endeavour in the last 35 years, except in computer software industry and agricultural research. The Hindu (http://goo.gl/RVVwXi)
This question is a part of GKToday's Integrated IAS General Studies Module