The current GDP of India is ₹300 lakh crore. The secondary sector contributes 24% of GDP. If its contribution grows at a compound annual growth rate of 4% for 3 years, what will be its monetary contribution after 3 years? Give your answer in ₹ lakh crore, rounded to two decimals.

Step-by-step solution

1. Step 1: Find the present contribution of the secondary sector: $0.24\times 300=72$ lakh crore.
2. Step 2: Compute the growth factor for 3 years: $(1+0.04{)}^3=1.124864$.
3. Step 3: Multiply the present contribution by the growth factor: $72\times 1.124864=80.991$.
4. Step 4: Round to two decimal places: $80.99$ lakh crore.

Concept tested: Compound growth of sector contribution

Published 16 October 2026 · How this solution was prepared and checked