Question

“Real Gross Domestic Product (GDP) is estimated to attain a level of ₹ 173.82 lakh crore in the year 2023-24. The corresponding Nominal GDP is estimated to stand at ₹ 295.36 lakh crore in the same year.”

On the basis of the given data, the value of GDP deflator would be:

Options

• 295.36

• 58.85

• 169.92

• 173.82

Answer 1

169.92

Explanation:

GDP Deflator = `"Nominal GDP"/"Real GDP" xx 100`

Nominal GDP = ₹ 295.36 lakh crore

Real GDP = ₹ 173.82 lakh crore

GDP Deflator = `295.36/173.82 xx 100`

= 169.92