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indian economy (growth (GDP estimation method (basics (so we try to reach…
indian economy
growth
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GDP estimation method
basics
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informal sector - income, expenditure, output data not available
so govt extrapolate formal sector(fs) info to find out info of informal sector(ifs) for gdp calculation
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but in reality, all give different results
3 ways - ideally, all should give same results
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issues
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over-estimation bais in informal sector - assumption that informal manufacturing sector grow at same rate as formal manufacturing sector
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