Nominal GDP of india as measaured on oct. 2014 was
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Answer:
Explanation:
The October 2014 nominal GDP of India stood at 7.4% . During 2013 the GDP for the same period stood at 6.9%. A new method of calculating GDP was used to measure the October 2014.
The 2014 GDP per capita of India stood at $1,574 whereas the GDP figure stood at $2,039,130 million .
The Central Statistics Office adopted a new method of calculating headline GDP by switching over from GDP at factor cost to GDP at market price. This was done keeping in mind to make India more comparable with worldwide growth. The base year was revised from 2004-05 to 2011-12 . Under the new method the ambit of manufacturing was also widened and even included data received from Government in connection with corporate database and under-represented sectors in order to reach at the growth figure.
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