Question

How far is it correct to say that in recent past India has experienced some significant changes in the contribution to GDP by service sector?explain.

Answer 1

Gross domestic product in the United States represents the total aggregate output of the U.S. economy. It is important to keep in mind that the GDP figures as reported to investors are already adjusted for inflation. In other words, if the gross GDP was calculated to be 6% higher than the previous year, but inflation measured 2% over the same period, GDP growth would be reported as 4% or the net growth over the period.