-7.7%
NSO Estimate for India GDP Growth FY21
The question asks for the specific estimate provided by the National Statistical Office (NSO) regarding India's Gross Domestic Product (GDP) growth for the Financial Year 2020-2021 (FY21).
The FY21 period was significantly impacted by the COVID-19 pandemic and associated lockdowns, leading to a contraction in economic activity.
According to the NSO's estimates released during that period, India's GDP was projected to decline.
- The official estimate by NSO indicated a GDP growth rate of -7.7% for FY21.
Therefore, the correct estimate for India's GDP growth in FY21, as per NSO, is a contraction of 7.7%.
The calculation represented is:
GDP Growth (FY21) = $-7.7\%$
Similar Questions
- The value of the gross investment in order to accommodate regular wear and tear of capital is called:
- In India, National Income is computed by:
- Which of the following sectors contribute the most to GDP in India?
- Deduction of depreciation from Gross National Product is known as:
- We should consider the value of final goods only while estimating GDP because:
- Equilibrium national income occurs where aggregate supply ________
- Which of the following is the correct full form of GDFCF?
- Gross Domestic Production is the total value of:
Which of the following economic models formed the basis of the Second Five-Year Plan?
Important Questions from National Income Accounting
Division of labour often involves
1. specialized economic activity.
2. highly distinct productive roles.
3. involving everyone in many of the same activities.
4. individuals engage in only a single activity and are dependent on others to meet their various needs.
Select the correct answer using the code given below:
Which of the following is NOT one of the methods of national income estimation?
Cash Reserve Ratio (CRR) is calculated as a percentage of each bank's _____.
What do you call a proportionate saving in costs gained by an increased level of production?
Which of the following statements is/are correct?
I. Only marketed goods and considered while estimating Gross Domestic Product (GDP).
II. The work done by a woman at her home is outside the purview of Gross Domestic Product.
III. In estimating GDP, only final goods and services are considered.
