Question

What is GDP?Who measures GDP in India and how?What is its importance?

Answer 1

The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period; you can think of it as the size of the economy.
The Central Statistics Office (CSO), under the Ministry of Statistics and Program Implementation, is responsible for macro economic data gathering and statistical record keeping.