A Study On The Growth And Trend Of Indian GDP And Its Components

Abstract

Economists have done a lot of research studies on the topic of economic growth in general. They have contributed to understand of the idea of economic growth, as well as its drivers, measurement, policy, and impacts. The primary factors that determine economic development have evolved to meet the requirements of a shifting context and way of thinking; the environment must be given a preeminent place in the definition of "economic growth" when applied to the setting of the modern day and age. Economic growth in the truest sense would involve increasing productivity along with the protection and development of natural resources and the environment. Increasing productivity through investments in infrastructure development and technological advancement at the expense of the environment that results in unfavourable environmental, social, economic, and political conditions is not economic growth. The measurement of inclusive growth makes it easier to evaluate growth in its truest form. The term "economic growth" refers to a process that takes place over the course of a lengthy period of time and signifies a rise in the overall production and revenue of a country. The Indian Gross Domestic Products and the components of the GDP from 2014-2015 to 2020-21 (base years 2011-2012) have been collected from the web site of the National Statistical Office (NSO). The data gives more information about the Indian economy and the role of the components of GDP of the study period (2014-2015 to 2020-2021).