Aparna Lucknow, India 601 Questions 0 Answers 0 Best Answers 678 Points View Profile Aparna Asked: September 30, 20212021-09-30T21:12:37+05:30 2021-09-30T21:12:37+05:30In: Economics What is GDP Growth Rate? What is GDP Growth Rate? economic graphs in indicators Share Facebook 1 Answer Recent 0 Questions 518 Answers 176 Best Answers 0 Points View Profile [Deleted User] 2021-09-30T21:15:26+05:30Added an answer on September 30, 2021 at 9:15 pm GDP Growth Rate Gross Domestic Product measures the aggregate production of fi nal goods and services taking place within the domestic economy during a year. The Economic Survey 2021 has forecasted that India’s economy contracted 7.7% in 2020-21, before witnessing a sharp recovery of 10-12% in 2021-22. It is expected that the economy grows at its trend growth rate of 6.5% in 2022-23 and 7% in 2023-24 aided by structural reforms. The government has projected India’s nominal gross domestic product (GDP) growth rate at 14.4 percent for the fi nancial year 2022. Nominal GDP refers to measuring the value of all fi nal goods and services produced within a country for a given period at current market prices. Real GDP takes nominal GDP for a given period and adjusts it for changes in prices. At Rs 134.4 lakh crore, India’s real GDP — that is, GDP without the infl uence of infl ation — in 2020-21 will be lower than the 2018-19 level. 0 Reply Share Share Share on Facebook Share on Twitter Share on WhatsApp Leave an answerCancel replyYou must login or register to add a new answer. Related Questions What is Cash Reserve Ratio (CRR)? What is Government debt to GDP?
GDP Growth Rate