Question

which agency fulfills the task of measuring GDP in India?
explain how it measures

Answer 1

Gross domestic product (GDP) is the single standard indicator used across the globe to indicate the health of an economy. Policy makers, investors, economists, businesses, bankers, politicians, and even the media keep a close watch on GDP estimates. GDP provides one single number that represents the monetary value of all the finished goods and services produced within a country's borders in a specific period. GDP may be easy to define but it is complex to calculate, and countries across the globe have different methods to arrive at their country's GDP. This article discusses how India calculates its GDP The GDP in India is calculated using two different methods, leading to differing figures that are nonetheless close in range. The first method is based on economic activity (at factor cost), and the second is based on expenditure (at market prices) hope this help you if you satisfied with my answer mark it as brilliant answer

Answer 2

GDP indicates the Gross Domestic Product.

It applies to the absolute value of the assets originated by a nation in a Financial Year.

Central Statistical Organisation which is a subsidiary of the Government of India satisfies the responsibility of estimating GDP in India.

In Indian GDP is determined by implying the method of expenditure.

The expenditures in GDP

= consumption + investment + government expenditure + exports – imports.

For obtaining the output the approach of “Net Product” or “Value Added” is used.