Indian History

GDP

GDP refers to Gross Domestic Product. It is the value of final goods and services within a country in a given year. GDP is derived as the sum of the gross value added (GVA) at basic prices, plus all taxes on products, less all subsidies on products.

Gross Domestic Product(GDP)=Gross Value Added(GVA) at basic prices + Taxes on Products including import duties - Subsidies on Products. GDP for the year 2019-20 at constant prices(2011-12) (in Rs.crore):
    1. GVA at basic prices: 1,32,71,471
    2. Taxes on Products including import duties: 15,49,075
    3. Less Subsidies on Products: 2,51,278
    Gross Domestic Product (GDP) (1 + 2 - 3) = 1,45,69,268
Percentage Change in GDP in 2019-20 over Previous Year = 4
NDP = GDP – Consumption of fixed capital
NDP for the year 2019-20 at constant prices(2011-12) (in Rs.crore):
    1. Gross Domestic Product (GDP) = 1,45,69,268
    2. Consumption of Fixed Capital (CFC) = 17,46,386
Net Domestic Product NDP (1-2) = 1,28,22,882
NEXT