Explain the difference between computing methodology of Indiaâs Gross Domestic Product (GDP) before the year 2015 and after the year 2015.
Points to Remember: Pre-2015 GDP Calculation: Based on the factor cost method, with limitations in data collection and coverage. Post-2015 GDP Calculation: Shifted to the market price method, incorporating a wider range of economic activities and improved data collection techniques. Key Changes: Methodology shift, base year revision, and improved data collection. Impact: Significant increase in … Read more