Answer: (Detailed Solution Below)
Option A: 2 per cent annum
Detailed Solution:
The correct answer is “2 per cent annum”.
Long term employment growth in India has been about 2 per cent per annum but has declined to about 1.5 per cent during the last decade, when GDP growth has accelerated to around 7.5 per cent Services, which have been the major source of recent growth have particularly seen a sharp decline in employment elasticity.