An Analysis of the Components of the Gross Domestic Product of India
Journal Title: International Journal of Engineering and Science Invention - Year 2019, Vol 8, Issue 1
Abstract
This study explored the trend of deviations amidst the GDP of India at market prices and factor costs keeping in purview its correlation with the growing population of the country and evaluating the most volatile sector out of the primary, secondary and the tertiary sector. The data in use was inclusive of the allied and related activities of the respective sectors and not just focussed on the real action of the sector. Recognition of trends and smoothening of the data after removal of residuals made it possible to demarcate major differences in the expected annual growth and the increase in GDP that was actually observed. There exist fluctuated relations amongst the sector-wise growth which are highly influenced by the financial states of the nation and that of the world. The results hence established depicted that there exists variance in the implications of the GDP in relation to the prices taken for calculations which aggravates the need to closely overview the reasons for such deviations in the prices of the same years. The study establishes patterns in the development of every segment significantly and perceives the requirement for an adjustment in technique of working of the country or monetary arrangement of the nation.
Authors and Affiliations
Veerendra Anchan, Japleen Kaur Narula
Keywords
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