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AN OVERVIEW OF INDIAN ECONOMY
What is the base year currently used for calculating India's GDP at constant prices?
India uses 2011-12 as the base year for calculating GDP at constant prices, as revised by the Central Statistics Office (CSO).
What is the difference between GDP at market prices and GDP at factor cost?
GDP at factor cost excludes net indirect taxes from market price GDP.
Which body is responsible for releasing India's national income estimates?
The National Statistical Office (NSO), formerly the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI), releases India's national income estimates.
What does the term 'value added' mean in the context of national income accounting?
Value added is output value minus intermediate input cost at each production stage.
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