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NITI Aayog Vice Chairman downplays the 'double deflation' GDP methodology debate
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NITI Aayog Vice Chairman downplays the 'double deflation' GDP methodology debate
NITI Aayog's Vice Chairman has downplayed the debate over adopting 'double deflation' for GDP calculation, as the government revises its national income estimation methodology.
Why it matters: factual, Prelims-type
What you need to know
2 min read
The Vice Chairman of the NITI Aayog has said the debate over adopting a 'double deflation' method for calculating India's GDP is not a major battle, as the government works on revising its national income estimation methodology.
Double deflation involves separately deflating the value of output and the value of inputs used in production using different price indices, to arrive at a more accurate estimate of real value added.
The debate accompanies a broader base-year revision exercise for India's GDP series.
Sources: Topper IAS editorial (PIB / The Hindu / Indian Express)
Key facts
Remember these
- GDP methodology
- double deflation
- NITI Aayog
- base year revision
Prelims · Mains
How the exam will ask it
Prelims
- GDP methodology, double deflation, NITI Aayog, base year revision
Mains
Use as an example in GA answers (GS3 - Economy: national income accounting, GDP measurement).
Quick recall
Answer before you reveal
India's current ethanol-blending target of 'E20' refers to blending ethanol with petrol up to what percentage?
- 10%
- 15%
- 25%
- 20%
Show answer
Answer: D — E20 refers to blending petrol with up to 20% ethanol, the target India's ethanol blending programme has been working towards to cut crude oil import dependence.
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