GDP trends in India

Trends In Real GDP In India And Shifts In Its Composition A Rising Tide Does Not Lift All Boats Group # 01 AbhishekAgrawal (091101) AshwaniDusadh (091111) Imtiaz T.A (091121) PinkeshDhimar (091131) Ritesh Kumar (091141) Shuchi Sharma (091151) PGDBM (A) 2009-2011

GDP And Ways Of Measuring It ,[object Object]

Real GDP: Goods are evaluated at constant (base year) prices

Nominal GDP: Goods are evaluated at current year prices

GDP deflator = (nominal GDP/real GDP) × 100, measures price movement over time,[object Object]

Methods Of Calculating GDP ,[object Object],Add different categories of expenditures by households, firms and government together Y = C + I + G + (X – M) Y = GDP, C = consumption expenditure, I = investment expenditure, G = Government expenditure, X = exports, M = imports ,[object Object],Add “value-added” by all firms together; value-added = value of the output produced by a firm – value of the intermediate goods used to produce it ,[object Object],National income is obtained by summing up the income of all individuals of a country GDP at factor cost = wages + rents + interests + profits

Components Of GDP Agriculture Sector Industry Sector Service Sector

Agriculture Sector ,[object Object],Agriculture Fishing Forestry Portray Farming Horticulture etc…

Industry Sector ,[object Object],Mining And Quarrying Manufacturing Electricity, Gas And Water-supply

Service Sector ,[object Object],Construction Trade, Hotels, Transport And Communication Financing, Insurance, Real-estate And Business Services Community, Social And Personal Services

Factors Affecting GDP Government policies, People spending (more or less), Level of investment Climatic Conditions Political Stability World Environment

Source: Handbook of Statistics on Indian Economy 2008-09

GROWTH RATE IN COMPOSITION OF GDP

Composition Trend Line Source: Handbook of Statistics on Indian Economy 2008-09

Shift In Compositions Of GDP Source: Handbook of Statistics on Indian Economy 2008-09

Source: Handbook of Statistics on Indian Economy 2008-09 Shift In Compositions Of GDP

Is GDP A Real Index Of Economic Welfare? Ignores everything that happens outside the realm of monetized exchange, regardless of its importance to well-being Household & Volunteer Work Income Distribution Resource Depletion Long-term Environmental Damage Dependence On Foreign Assets ,[object Object]

Ignores how is it produced and how the increase in it has been brought about. ,[object Object]

Conclusion The illusiveness of this concept of national income is to be seen in its dependence on changes in the purchasing power of the monetary unit. The more inflation progresses, the higher rises the national income. Ludwig von Mises

References Ministry of Finance: http://www.finmin.nic.in/the_ministry/ http://www.finmin.nic.in/the_ministry/dept_expenditure/index.html Directorate of Data Management Central Excise & Customs. Economic servey 2007-08: http://indiabudget.nic.in/ Reserve Bank of India: http://www.rbi.org.in/scripts/statistics.aspx Centre for Monitoring Indian Economy Pvt. Ltd.: http://www.cmie.com/ http://dor.gov.in/ http://dx.doi.org/10.1787/843875747717 http://business.gov.in/outerwin.php?id=http://www.rbi.org.in/scripts/AnnualPublications.aspx?head=Trendand Progress of Banking in India

GDP trends in India

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