Why 3P Is Crucial In GDP Measurement Of The Indian Economy
Gross Domestic Product (GDP) refers to the total monetary value of all the finished goods and services produced within a country. The calculation of the GDP is done annually or quarterly. Most often, the annualized GDP is made available by the government that includes data related to growth in the Indian Economy . 3Ps in the GDP measures stand for the population, participation, and productivity. Typically, it reflects the number of people with good economic conditions. Apart from this, their participation in the work and values they are generating in the form of productivity. Other important factors for measurement of GDP : This is why; investors keep a pointed eye on the GDP statistics. Most often, when the economic growth rate is high, then there would low rate of unemployment. By calculating GDP, the government of India can track multiple factors: It allows analyzing the condition of the country's economy. Secondly, it determines the value of the products and services th...