What is G.D.P. OF India
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Answer:
Gross Domestic Product meaning: What is the simple definition of GDP? What is GDP of a country? Gross Domestic Product, abbreviated as GDP, is the total value of goods and services produced in a country. GDP is measured over specific time frames, such as a quarter or a year. GDP as an economic indicator is used worldwide to show the economic health of a country. For low-income or middle-income countries, high year-on-year GDP growth is essential to meet the growing needs of the population. Hence, the GDP growth rate of India is an essential indicator of the country’s economic development and progress. Besides measuring the health of the economy and helping the government is framing policies, the GDP growth rate numbers are also useful for investors in better decision-making related to investments. Different countries have different methods to calculate GDP. Let’s take a close look at the GDP growth rate calculation in India.
How is GDP calculated?
The central statistical office, or CSO, is responsible for compiling data for calculating GDP. It aggregates the GDP data by coordinating with several federal and state-run agencies. Once the data collection process is completed, the task of calculating the GDP begins. There are two methods to arrive at the GDP number:
Explanation:
Answer:
India GDP forecast: Moody's revises India's 2020 GDP forecast to -8.9% from -9.6%, raises 2021 forecast to 8.6% from 8.1% - The Economic Times
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