UPSC 2017 CDS I GK Paper

The 7.6% growth rate registered by the Indian economy during the year 2015-16 is based on Gross Domestic Product (GDP) at constant prices. GDP of any nation represents the sum total of gross value added (GVA) (i.e., without discounting for capital consumption or depreciation) in all the sectors of that economy during the said year after adjusting for taxes and subsidies.