1) What is the GDP of India during 2020-21 at constant and current prices? Why are they different?

The Gross Domestic Product (GDP) at constant price in the year 2020-21 is ₹135.13 lakh crore and the
growth of the GDP is -7.3 percent. The GDP at current price for the year 2020-21 is ₹197.46 lakh crore
and the change in the GDP is -3.0 percent.

GDP at current price:

GDP at current price is the GDP unadjusted for the effects of inflation and it is at current market prices.
It is also known as Nominal GDP.

GDP at constant price:

GDP adjusted for the effects of inflation is called GDP at constant price and it is also known as real
GDP.

Inflation diminishes the time value of money and reduces the amount of goods and services that can be
purchased in the future. Hence, GDP at constant price is lower than the GDP at current price.

2) What are the values of different components of GDP (C, I, G, X and M) for 2021-22 (Q1)? How
are they different from the same quarter previous year?

Values of components of GDP for 2021-22 (Q1)

 Private Final Consumption Expenditure - ₹ 17,83,611 Crore
 Investments - ₹ 10,78,164 Crore
 Government - ₹ 4,21,471 Crore
 Exports - ₹ 7,68,589 Crore
 Imports - ₹ 8,30,673 Crore

2020-21 (Q1) 2021-22 (Q1) Rates of GDP (%)

(In Crores) (In Crores)
2020-21 2021-22
Private Final
Consumption 14,94,521 17,83,611 55.4 55.1
Expenditure (C)
Investments (I) 6,88,135 10,78,164 25.5 33.3
Government (G) 4,42,618 4,21,471 16.4 13.0
Exports (X) 5,52,524 7,68,589 20.5 23.7
Imports (M) 5,18,453 8,30,673 19.2 25.7

When compared to last year’s Q1 there is a considerable increase in the investments. Apart from that
there is a decrease in all the other components.

3) Plot the following:

Plot A – Gross value Added (GVA) along with its sectoral components and
Plot B – GDP along with its component for India
From 2018-19 (Q1) to 2021-22 (Q2) at constant prices and comment on their trajectories.