GDP Growth Rate forecast of India
GDP Growth Rate forecast of India. Welcome to the www.letsstudytogether.co online learning section. If you are preparing for IBPS, SBI, LIC, SSC, Railways, and others competitive Exams, you are bound to find a few questions on Current Affairs in your General Awareness section on GDP Growth Rate forecast of India by Various Organisations. So be prepared to tackle it all!
Today we are providing you with an article on GDP Growth Rate forecast of India by Various Organisations for Bank Exams 2017-18 in PDF format. One or two questions are expected in upcoming exams from this topic. The GDP growth rate is the most important indicator of economic health. It changes during the four phases of the business cycle: expansion, peak, contraction and trough.
What is GDP?
Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Or
GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country.
GDP measured by three methods, namely-
Output Method: This measures the monetary or market value of all the goods and services produced within the borders of the country. In order to avoid a distorted measure of GDP due to price level changes, GDP at constant prices o real GDP is computed. GDP (as per output method) = Real GDP (GDP at constant prices) – Taxes + Subsidies.
Expenditure Method: This measures the total expenditure incurred by all entities on goods and services within the domestic boundaries of a country. GDP (as per expenditure method) = C + I + G + (X-IM) C: Consumption expenditure, I: Investment expenditure, G: Government spending and (X-IM): Exports minus imports, that is, net exports.
Income Method: It measures the total income earned by the factors of production, that is, labour and capital within the domestic boundaries of a country. GDP (as per income method) = GDP at factor cost + Taxes – Subsidies.
In India, contributions to GDP are mainly divided into 3 broad sectors – agriculture and allied services, industry and service sector. In India, GDP is measured as market prices and the base year for computation is 2011-12. GDP at market prices = GDP at factor cost + Indirect Taxes – Subsidies.
GDP Growth Rate of India and Other Countries
GDP Growth Rate forecast of India by Various Organisations
|GDP Growth Rate forecast of India|
|1.||CENTRAL STATISTICAL OFFICE (CSO)||6.5 %||–||–|
|3.||The Hongkong and Shanghai Banking Corporation (HSBC)||6.5%||7.0%||7.6%|
|4.||State Bank of India (SBI)||6.7%||–||–|
|5.||Union Bank of Switzerland (UBS)||6.6%||–||–|
|6.||India Ratings and Research (Ind-Ra)||6.7%||7.4||–|
|7.||Organisation for Economic Cooperation and Development (OECD)||6.7%||7.25||–|
|8.||International Monetary Fund (IMF )||6.7%||7.4%||–|
|9.||Reserve Bank of India (RBI)||6.7%||7.4%||–|
|11.||Development Bank of Singapore||6.6%||–||–|
|14.||The World Bank||7.0%||7.3||7.6%|
|15.||Asian Development Bank (Dec 2017)||6.7%||7.3%||–|
|16.||Credit Rating Information Services India Limited (CRISIL)||7.05||–||–|
|19.||United Nation (Dec 2017 )||7.1%||7.2%||7.4%|
|21.||National Council of Applied Economic Research (NCAER)||7.6%||–||–|
|22.||Economy Survey 2016-17 (Finance Ministry)||7 -7.50%||–||–|
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