Paper I · 5 Indian Economy & Development · 5.1.2 National income

5.1.2.4 Nominal and real GDP, the GDP deflator and per capita income

Nominal GDP uses current prices and moves with inflation, real GDP uses base-year prices and shows true output growth, and the GDP deflator is the ratio between them.

  • TGPSC MPSO / ASO · Paper I
  • Standard level
  • 6 min read
  • Full course

Key terms

  • nominal GDP
  • real GDP
  • base year
  • GDP deflator
  • CPI
  • WPI
  • per capita income
  • net national income
  • inflation

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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