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Answer Posted / atul gupta
The method of Calculating India GDP is the expenditure
method, which is, GDP = consumption + investment +
(government spending) + (exports-imports) and the formula
is GDP = C + I + G + (X-M)
Where,
•C stands for consumption which includes personal
expenditures pertaining to food, households, medical
expenses, rent, etc
•I stands for business investment as capital which includes
construction of a new mine, purchase of machinery and
equipment for a factory, purchase of software, expenditure
on new houses, buying goods and services but investments on
financial products is not included as it falls under savings
•G stands for the total government expenditures on final
goods and services which includes investment expenditure by
the government, purchase of weapons for the military, and
salaries of public servants
•X stands for gross exports which includes all goods and
services produced for overseas consumption
•M stands for gross imports which includes any goods or
services imported for consumption and it should be deducted
to prevent from calculating foreign supply as domestic
supply
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