Gross domestic product: GK, Current Affairs, Questions, Trivia and News

India emerged as 5th largest economy in 2019

World Population Review, a US-based think tank, recently stated in its report that India emerged as the world’s fifth largest economy in 2019, with a GDP of $ 2.94 trillion. India has overtaken the UK and France, to be placed in the 5th position. The report also stated that in Purchasing power parity (PPP) terms, ..

IMF lowers from 6.1 to 4.8 Percent GDP Growth Rate for India

The Washington, D.C based international organization, International Monetary Fund (IMF)decreased India’s GDP growth forecast to 4.8 percent for this fiscal year, which is 1.3 percentage point lesser than its previous estimates. Chief Economist of the IMF, Gita Gopinath stated in a blogpost that the slow down in the Indian economy which resulted in weak rural ..

GDP estimated 5.0 per cent in First Advance Estimates of National Income 2019-20

In accordance with the release calendar of National Accounts, the First Advance Estimates of Gross Domestic Product (GDP) was released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation on Tuesday, 7th January 2020, the corresponding estimates of Expenditure components of GDP was implemented along with the First Advance Estimates ..

‘Visit Nepal Year 2020’ campaign launched

The President of Nepal, Bidya Devi Bhandari on Wednesday, 1st January 2, 2020, launched an ambitious campaign named  ‘Visit Nepal Year 2020’ to promote tourism in Nepal. The campaign aims to attract more than 2 million tourists in Nepal during the year 2020. The President of Nepal inaugurated the campaign by lighting up the Flame ..

China to have Unified National and Local GDP Accounting Method from 2020

From 2020, the People’s Republic of China will revise the way it used to calculate the Gross Domestic Product (GDP) or the economic output data. Since 1985, different accounting methods have been adopted by the authorities at the local and national levels for formulating the GDP figures in China. The unification of the GDP numbers ..

NITI Aayog says Nominal Growth of 12.4% Annually for $5-Trillion GDP

NITI Aayog CEO Amitabh Kant informed the Standing Committee on Finance that Gross domestic product (GDP) as per current prices without accounting for inflation the growth measure has to be at least average 12.4% annually for the next five years to achieve the target of $5-Trillion economy by 2024-25. The current rate in the first ..

Nomura’s Food Vulnerability Index ranks India at 44th

A report published by Japanese Nomura Global Market Research have ranked 110 countries in Nomura’s Food Vulnerability Index (NFVI) 2019 on the basis of three components (1) Net food import, (2) Country’s Gross Domestic Product (GDP) per person and (3) Share of food on household consumption. Theoretically, a country with lower per capita GDP will ..

CSO proposes to replace GDP base year

The Central Statistics Office (CSO) proposes to replace the gross domestic product (GDP) series of 2011-12 base year with a new set of National Accounts using 2017-18 as the base-year. According to the chief statistician, this will be done as soon as the new consumer expenditure survey and the Annual Survey of Industries (ASI) results become ..