Understand the income approach to GDP, where total expenditures equal the income from goods and services in an economy.

The new series of data not only revises the base year for calculation purposes to 2022-23, it also incorporates several vital changes with an aim to give a more accurate measurement of the size of the ...

A revised GDP series with 2022–23 as the base year will be released on February 27, along with updated historical data covering the previous four years.

The latest GDP series will also see major changes, the most crucial of which will be how nominal GDP is adjusted for price changes to arrive at real GDP. According to economists, India’s real GDP ...