India's Gross Domestic Product y/y is the key indicator of the economical development which shows the health of the national economy. The index measures changes in the market value of goods and services produced in India, in the given quarter compared to the same quarter a year ago.
Source data for index calculation are collected by the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation. CSO polls all sectors of the economy and calculates various indices, such as Industrial Production Index, Consumer Price Index and others. Data provided by government agencies and departments are also included in the GDP calculation.
India's GDP is calculated using two methods: on the basis of economic activity (at factor cost) and by expenditure (at market prices). The first method involves calculation using collected data on net value changes for each sector during a certain period of time. The following eight industry sectors are considered in this method:
According to the expenditure approach, the GDP is calculated as the sum of domestic expenditure on final goods and services. This includes expenses towards household consumption, capital formation, government expenditure and net trade balance.
Calculation results in these two methods may be different. However the difference is usually not that great. Calculation based on the economic activity allows evaluating the state of each sector, while the expenditure method reflects various economy areas, such as trading and investment.
GDP growth indicates that the economy is expanding. Therefore, the indicator increase is seen as positive for Indian rupee quotes.
The chart of the entire available history of the "India Gross Domestic Product (GDP) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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