Measurement of Economic Growth: Key Indicators
Economic growth signifies a favourable transformation in economic indicators, denoting an expansion in the quantity of goods and services generated by an economy. This expansion translates to a rise in the actual national income and national production.
Important Indicators
Gross Domestic Product (GDP)
- Gross Domestic Product (GDP) represents the aggregate worth of ultimate goods and/or services manufactured within a country's borders during a fiscal year (from April 1st to March 31st).
- GDP encompasses the production carried out by foreign citizens within the nation's geographical confines.
- This metric is evaluated at market prices and termed as GDP at market rates.
- It ....
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