Journal of Income & Wealth (The)
  • Year: 2016
  • Volume: 38
  • Issue: 1

Factor Cost Basis of GDP is Fundamental for Measuring Real Growth and not GDP at Market Prices

  • Author:
  • S.L. Shetty, Vijayata B. Sawant
  • Total Page Count: 10
  • Page Number: 1 to 10

*Corresponding author email id: slshetty1937@gmail.com

Dr. S.L. Shetty is Founder-Director and presently Advisor of EPW Research Foundation. He wishes to thank his colleague Ms. Vijayata B. Sawant, for the statistical help rendered in the preparation of this paper

Abstract

The authors of the UN SNA have shown no concern for the distributional issues relating to factor incomes. These concerns lead to GDP at factor cost as a measure of real economic growth and not GDP at market prices.

Keywords

National Income, GDP at Factor Cost, GDP at Market Prices, UN SNA 1968, 1993 and 2008