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GS PAPER III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.
Context: India's Gross Domestic Product (GDP) contracted by 7.3% in 2020-21, as per provisional National Income estimates released by the National Statistical Office.
What is GDP of a country?
How is GDP calculated in India?
Further, the nominal GDP is calculated using the current market price, and real GDP is arrived after adjusting inflation.
From where is the GDP data sourced?
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