Indian Economy Questions

GDP full form is Gross domestic product.

It is a measurement of a nation’s overall economic activity. 

GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP).  Electricity generation (weight: 10.32%)

In India, National Income is calculated by the combined method. It combines two methods i.e product or output method and the income method. This is done to overcome the problem of deficiency of statistics. The product method endeavours to find out the net contribution to national income of all producing units. The income method adds up income and payments accruing of factors of production. This method is used in the tertiary  sector like government services banking etc and also in the commoity sector if output data is not available.