What is GDP of a country? How to calculate the gdp
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The GDP calculation also accounts for spending on exports and imports. Thus, a country's GDP is a measure of consumer spending (C) plus business investment (I) and government spending (G) as well as its net exports, which is exports minus imports (X-M).
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GDP is Gross Domestic Product which means the total amount of goods produced in a year in the country.It is useful to compare the economy of two country.
GDP of INDIA is 2.264 trillion US DOLLARS.
To calculate the GDP, there are two methods:-
1.Nominal method
2.Expenditure method
In INDIA it is done by expenditure method.To calculate GDP, we add
CONSUMPTION OF COUNTRY + INVESTMENT MADE + GOVT. SPENDING + (EXPORTS - IMPORTS)
This calculation is done by CENTRAL STATISTICS OFFICER under Ministry of Statistics and Programme Implementation.
HOPE IT HELPS
GDP of INDIA is 2.264 trillion US DOLLARS.
To calculate the GDP, there are two methods:-
1.Nominal method
2.Expenditure method
In INDIA it is done by expenditure method.To calculate GDP, we add
CONSUMPTION OF COUNTRY + INVESTMENT MADE + GOVT. SPENDING + (EXPORTS - IMPORTS)
This calculation is done by CENTRAL STATISTICS OFFICER under Ministry of Statistics and Programme Implementation.
HOPE IT HELPS
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