2/25/2023 0 Comments Fifa cup 2010 cso![]() ![]() The net result was that India's GDP by expenditure in January-March 2010 was 13,395 billion (=12,051+1,888-544). They also benefited from 544 billion in subsidies, subtracting from the expenditure measure. But the buyers of that output paid an additional 1,888 biilion in indirect taxes, adding to the expenditure measure of GDP. In the first three months of 2010, India's GDP at factor cost amounted to 12,051 billion rupees. * A numerical example might help to illustrate the difference. That's fully 0.06 percentage points faster than China. But in India net indirect taxes rose from 7.5% of output in 2009 to 9.2% in 2010, boosting the growth rate of GDP by expenditure for that year.** That was enough to lift India's growth by this measure to 10.36% in 2010. If these taxes and subsidies remained steady as a percentage of output, they would not affect the growth rate of GDP, even if they do affect its level. This boosts measures of GDP by expenditure, relative to income-based measures. But a couple of things get in the way: taxes and subsidies.Ī sales tax adds to the amount you have to spend on a good. Since every purchase is a sale, expenditure should equate to income: every rupee spent by one person is a rupee earned by someone else. Other countries, including China, typically report their GDP "by expenditure", adding up all the spending on domestically produced goodies. That means it adds up all the income earned in the course of producing the country's goods and services. India typically reports its GDP "at factor cost". But the second idiosyncrasy is more important. So the 8.6% estimate refers to the 12 months ending on March 31. First, it reports growth for the fiscal year, not the calendar year. ![]() ![]() India has two idiosyncrasies in the way it reports its GDP figures. ![]()
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