WBCS.LIVE practice question

The largest contributor to the gross domestic savings of India is

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. the household sector.
  2. the private corporate sector.
  3. the public sector.
  4. the foreign sector.

Correct answer and explanation

Correct answer: the household sector.

Explanation: āœ… Correct Answer: A) the household sector. šŸ“š Explanation: In India, the household sector is the largest contributor to gross domestic savings, accounting for the majority of the nation's total savings. This includes physical assets like property and gold, as well as financial assets like bank deposits and insurance. Personal savings play a critical role in funding national investments.