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Saturday, May 30, 2009

GDP for Financial Year 2008-09 is 6.7% in India






Kindly use the link below for the detailed report.

Some relevant paragraphs from the report for the notes are as follows:

"The RBI in its monetary policy review earlier had projected GDP to grow at 6.5 %." (TOI as in the link given below.)

The per capita income has crossed Rs. 3000 per month.

"It also appears that the over Rs 3 lakh crore injected into the system through three stimulus packages has started showing results. The Rs 70,000 crore loan waiver for farmers, high salaries to government employees and increased expenditure on the National Rural Employment Guarantee scheme after it was made nationwide have helped stemmed the downturn. )(TOI as in the link given below.)



TOI Link:

Good news: At 6.7%, GDP grows more than expected - India Business - Business - The Times of India





For Fundamental and concept clarity; Check wikipedia article on What is GDP at the following link:

What is GDP?

Brief Answer:
GDP stands for gross domestic product or gross domestic income.
It is measured and quantified as follows:
GDP = consumption + gross investment + government spending + (exports - imports)
It is derived thus as follows:
GDP= C + I + Gs + (X-M)


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