India’s GDP at Factor Cost

Growth Rate for GDP (Constant Prices) at Factor Cost of Real GDP is shown in the following Graphics:

GDP at Factor Cost is called Real GDP. This is because it takes into account various other factors which give a clearer picture of the GDP.
Why GDP at Factor Cost for 2004-05 only?
Because, 2004-05 is the base year. With the release of the quick estimates of National Income for year 2008-09, the Central Statistical Organization (CSO) and changed the base year of its NAS (National Accounts Statistics) from 1999-2000 to 2004-05. This also includes changes on account of certain refinements in definitions of some aggregates, widening of coverage , including of long term survey results and the normal revision in certain data in respect to the 2008-09.
For 2009-10 the growth rate in Real GDP was estimated at 8.0% as per the Quick Estimates released on 31 January 2011.
  • The Economic Survey pegs India GDP at Factor Cost (Real GDP) in 2010-11 at Rs. 4879232 Crore.
  • The growth rate compared to last year is 8.6%. The Real GDP of the country for last few years is shown in the following graph:

    List of Topics : Economic Survey 2010-11

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    Comments

    • Nikhil Pavan Kalyan
      Reply

      The Real GDP is not just GDP at Factor Cost. It is GDP at Constant Prices at Factor Cost. Please make this explicit.