30 November, 2019
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
News: Growth in the gross domestic product (GDP) in the July-September quarter hit a 25quarter low of 4.5%, the government announced on Friday.
Prelims and Mains focus: about the recent economic slowdown in the Indian economy, challenges and ways to address them; GDP v/s GVA
Performance of various sectors:
Government’s take on the status of the economy
GDP v/s GVA
Note: GDP at factor cost = Gross value added (GVA) at factor cost GDP at market price = GDP at factor cost + net indirect taxes (indirect taxes- subsidies) GVA at factor cost = value of output (quantity * price) - value of intermediary consumption.
Source: The Hindu
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