Question

What is Gross Domestic Product (GDP)? Which agency fulfils the task of

measuring GDP in India?​

Answer 1

Answer:

1. what is gdp?

• Gross domestic product (GDP) is a measurement that seeks to capture a country's economic output. Countries with larger GDPs will have a greater amount of goods and services generated within them, and will generally have a higher standard of living.
• For this reason, many citizens and political leaders see GDP growth as an important measure of national success, often referring to “GDP growth” and “economic growth” interchangeably.
• Due to various limitations, however, many economists have argued that GDP should not be used as a proxy for overall economic success, much less the success of a society more generally.

2.Which agency fulfils the task of

measuring GDP in India?​

• In India, the task of measuring GDP is undertaken by a Central Government Ministry.
• This ministry, with the help of various government departments of all the Indian states and union territories, collects information relating to total volume of goods and services and their prices and then estimates the GDP.

hope it helps you!!!

Answer 2

Answer:

GDP is the market value of all final goods and services produced in the country during a period of time.

Central statistical organisation(CSO)

Explanation:

CSO comes under the ministry of statistical department