With reference to Indian economy, consider the following statements : 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?

1. Statement 1 refers to the rate of growth of Real Gross Domestic Product (Real GDP). Economic growth rates fluctuate based on various factors like global economic conditions, domestic policies, monsoon performance, etc. The rate of growth of India's Real GDP has seen significant fluctuations over any given decade (including 2005-2015), including periods of acceleration and deceleration (e.g., impact of the 2008 global financial crisis). It has not steadily increased year after year. Hence, Statement 1 is incorrect. 2. Statement 2 refers to the Gross Domestic Product at market prices (in rupees), which is the Nominal GDP. Nominal GDP increases due to both growth in real output and increases in the price level (inflation). India generally experiences positive real growth and positive inflation. Even with fluctuating growth rates, the combination typically ensures that the absolute value of Nominal GDP steadily increased year on year during the last decade (2005-2015). Hence, Statement 2 is correct. 3. Therefore, only statement 2 is correct.