In January 2015, the MOPSI had released the new series of national accounts, revising the base year from 2004-05 to 2011-12. With this, the GDP at Factor Cost has been replaced by Gross Value Added (GVA). With this change, GDP at market prices is now referred to in GDP in government accounts. This change is as per recommendations of the
Industrialization plays a vital and crucial role in the economic development of an under-developed nation. Compared to the developed nations, which are largely Industrial Economies, the under-developed nation are predominantly agricultural economies. Industrialisation in such under-developed nations is dependent on the role of agricultural sector. In India, Industrialisation plays an important role in modernising agriculture
Chemical industry is one of the oldest industries in India, which contributes significantly towards industrial and economic growth of the nation. Since this industry has numerous forward and backward linkages, it is called the backbone of the industrial and agricultural development of the country and provides building blocks for many downstream industries. The Chemical Industry