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GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1] As of 2011 [update] , the Government accounted for about 21% of the GDP followed by agriculture with 21% and corporate sector at 12%.
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
Goa had the highest per capita PPP GDP at US$14,903, while Bihar had the lowest with a per capita PPP GDP of US$682 as of 2015 [12] In rupee terms, India's per capita income grew by 10.4% to reach ₹74,920 in 2013–14. While India's per capita incomes were low, the average household size and consequent household incomes were higher.
However, India could do much more to raise its gross domestic product (GDP) per person, a measure of living standards according to which it ranked a lowly 147 in 2022, according to the World Bank.
At 8.4%, India’s economy expanded at its fastest pace in six quarters, data showed late on Thursday, on strong private consumption and upbeat manufacturing and construction activity. Reuters ...
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 119th by GDP (PPP). [58]
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
The detailed prices used to compute PPPs are based on data published by the World Bank as part of the International Comparison Program (ICP). An empirical finding documented extensively by PWT is the Penn effect , the finding that real GDP is substantially understated when using exchange rates instead of PPPs in comparing GDP across countries.