GS3 › Growth, Development and Planning

Revision note: National Income Accounting: GDP, GVA, GNP and their Measurement

  • GDP: final goods & services within domestic territory; GNP = GDP + NFIA (India's NFIA is negative)
  • NDP/NNP = minus depreciation; factor cost = market price − (indirect taxes − subsidies); NNP at factor cost = national income
  • Since 2015: GVA at basic prices; GDP = GVA + product taxes − product subsidies; base year 2011–12 (revision to 2022–23 under way)
  • Methods: production (value added), income, expenditure (C + I + G + X − M)
  • NSO (2019, CSO + NSSO) under MoSPI; Naoroji first estimate; Mahalanobis National Income Committee 1949
  • Limits: unpaid work, environment, distribution; Green GDP, HDI, GNH
Revision card summarising National Income Accounting: GDP, GVA, GNP and their Measurement
One-page visual summary of the key points to revise.

Source: https://upscprep.in/upsc/gs3/growth-development-and-planning/national-income-accounting-gdp-gva-gnp-and-their-measurement/ · UPSCPrep.in

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