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    Question

    The average annual growth rate of capital for Indian

    Railways was ______ between 1860 and 1939.
    A 2.4% Correct Answer Incorrect Answer
    B 1.4% Correct Answer Incorrect Answer
    C 4.4% Correct Answer Incorrect Answer
    D 3.4% Correct Answer Incorrect Answer

    Solution

    Capital outlays on all Indian railways increased by a factor of 32 between 1860 and 1939 according to the Morris and Dudley (1975) series. The average annual growth rate of capital was 4.4% over this period.

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