Question

Economic year for calculating national income in india

Answer 1

Answer:

There are three ways of calculating GDP -

all of which in theory should sum to the same amount:

National Output = National Expenditure (Aggregate Demand) = National Income.

(i) The Expenditure Method - Aggregate Demand (AD)

GDP = C + I + G + (X-M) where.

The Income Method – adding together factor incomes.

Answer 2

Explanation:

The ministry is considering 2017-18 as the new base year; the current base year for the GDP is 2011-12. The economic growth slowed to over six-year low of 5 per cent in April-June period of this fiscal.