Major changes are being made in the new calculation of GDP from Base Year, Factor Cost to Market Price, which will make the economic picture of the country more transparent and realistic. Earlier GDP was measured mainly on the basis of Factor Cost, but now Tax and Subsidy will also be directly included on the basis of Market Price. This will make it clear what price the consumer is actually paying for a product or service. Data of lakhs of companies is being added through MCA-21 Database, which will reveal the real participation of digital and service sector. This will have a direct impact on inflation, tax policy and the pockets of common people.
Will the new GDP provide relief to the middle class? | Money Live | Will the new GDP provide relief to the middle class?
