NDIA’S REAL GROWTH RATE AND THE FORECAST

Copyright infringement not intended Picture Courtesy:  The Hindu Context: The First Advance Estimates of National Accounts for 2024-25 show a real GDP growth of 6.4% and a nominal GDP growth of 9.7%, falling short of the Reserve Bank of India's revised growth estimates of 6.6% for real GDP and 10.5% for nominal GDP. Nominal GDP v/s Real GDP   Nominal GDP refers to the total market value of all goods and services produced within a country during a specific period, calculated using current market prices, meaning it reflects the price changes that occurred during that time; essentially, it shows the total economic output at current prices, including inflation effects. Real GDP is a measure of the total value of goods and services produced in a country, adjusted for inflation. It's calculated by using a price deflator to remove the effects of price changes. It removes the effects of inflation, which allows for more meaningful comparisons of GDP over time. Economic ...