The correct answer is -4.1%.
- The growth rate of Rajasthan's GSDP at current prices for the fiscal year 2020-21 has been -4.1%.
- Due to COVID economic fallout, Rajasthan's GSDP diminished by 4.1% in the fiscal year 2020-21.
Key Points
The growth rate has been steadily decreasing for the last 2 fiscal years.
Mistake Points
- Note that the growth rate asked in the question is in current prices.
- Note that India's GDP growth rate for the fiscal year 2020-21 was estimated to be -7.7%, lesser than Rajasthan.
- Current Prices - It measures GSDP/ inflation/asset prices using the actual prices we notice in the economy.
- Current prices make no adjustment for inflation.
- Constant prices: It is adjusted for the effects of inflation with reference to a base year
- Current Prices - It measures GSDP/ inflation/asset prices using the actual prices we notice in the economy.
Additional Information
- GSDP - Gross State domestic product is the monetary value of all finished goods and services made within a state during a specific period.
- Growth Rate - Rate at which a GSDP changes/grows from one year to another.