Explained: What is GDP and why it matters

News:Recently,due to a decline in India’s Gross Domestic Product(GDP) growth rate,the ruling party has questioned the merit of the basic variable used to map economic growth that is, the GDP. Facts: Origin of GDP and GNP: The modern-day definitions of GDP and GNP can be traced back to Simon Kuznets who was entrusted with the… Continue reading Explained: What is GDP and why it matters