Question

what is GDP, how is GDP calculated ?who is measuring GDP of India?​

Answer 1

Answer:

Hello!!

GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.

GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.It is calculated GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports). ... It transforms the money-value measure, nominal GDP, into an index for quantity of total output.

GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.It is calculated GDP: GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports). ... It transforms the money-value measure, nominal GDP, into an index for quantity of total output.The Central Statistics Office (CSO), under the Ministry of Statistics and Program Implementation(MoSPI) are measuring GDP.

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Answer 2

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GDP stands for Gross Domestic Product.

It is the sum total of all final goods and services produced in a country during a particular year. It shows how big the economy is.

It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.

It collects information with the help of various govt. departments of all states and union territories.

GDP = C + I + G + (X – M)

where

• C = private consumption
• I = gross investment
• G = government investment + government spending
• X = exports
• M = imports