{"id":160728,"date":"2022-01-11T19:55:08","date_gmt":"2022-01-11T14:25:08","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=160728"},"modified":"2022-01-11T19:57:30","modified_gmt":"2022-01-11T14:27:30","slug":"answered-explain-the-difference-between-computing-methodology-of-indias-gross-domestic-product-gdp-before-the-year-2015-and-after-the-year-2015","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/answered-explain-the-difference-between-computing-methodology-of-indias-gross-domestic-product-gdp-before-the-year-2015-and-after-the-year-2015\/","title":{"rendered":"[Answered] Explain the difference between computing methodology of India\u2019s Gross Domestic Product (GDP) before the year 2015 and after the year 2015."},"content":{"rendered":"

The Gross Domestic Product (GDP) is the market value of all final goods and services produced within an economy in a given period. The GDP data is calculated by National Statistical office (NSO).<\/span>\u00a0<\/span><\/p>\n\n\n\n\n
GDP Calculation Before 2015\u00a0<\/strong><\/td>\nGDP Calculation After 2015\u00a0<\/strong><\/td>\n<\/tr>\n
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  1. The earlier base year for calculation of GDP was\u00a02004-05.<\/span>\u00a0<\/span><\/li>\n
  2. GDP was calculated at factor cost.<\/span>\u00a0<\/span><\/li>\n
  3. Index of Industrial Production (IIP) was used to measure manufacturing and trading activity.<\/span>\u00a0<\/span><\/li>\n
  4. In the older system, GDP was first estimated by using the IIP data and then updated using the\u00a0ASI data (Annual Survey of Industries). ASI accounted only for those firms which were registered under the\u00a0Factories Act.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/td>\n
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    \n
  1. The government moved to a new base year of\u00a02011-12\u00a0for\u00a0GDP calculation.<\/span>\u00a0<\/span><\/li>\n
  2. GDP is now calculated at\u00a0Market Price.<\/span>\u00a0<\/span><\/li>\n
  3. The international practice of valuing industry-wise estimates as\u00a0gross value added (GVA) at basic prices\u00a0was adopted.<\/span>\u00a0<\/span><\/li>\n
  4. The government adopted\u00a0MCA-21 database,\u00a0which allows the firms\/companies to electronically file their financial results.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

    The Gross Domestic Product (GDP) is the market value of all final goods and services produced within an economy in a given period. The GDP data is calculated by National Statistical office (NSO).\u00a0 GDP Calculation Before 2015\u00a0 GDP Calculation After 2015\u00a0 The earlier base year for calculation of GDP was\u00a02004-05.\u00a0 GDP was calculated at factor… Continue reading [Answered] Explain the difference between computing methodology of India\u2019s Gross Domestic Product (GDP) before the year 2015 and after the year 2015.<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-160728","post","type-post","status-publish","format-standard","hentry","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":382,"cached_at":"","cached_date":1700117450},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/160728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=160728"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/160728\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=160728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=160728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=160728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}