With reference to the Gross Domestic Product (GDP), consider the following statements

1. It is a measure of total value of a country’s annual output of goods and services produced within country.
2. It is released by the National Statistical Organisation.

Select the correct statement.

• Gross Domestic Product (GDP) is a measure of economic activity in a country. It is the total value of a country’s annual output of goods and services.
• While Gross Value Added is a measure of total output in the economy after deducting the cost of inputs and raw materials that have gone into the production of those goods and services. 
• The National Statistical Organisation releases the GDP data.

Hence both statements are correct.

By: Shubham Tiwari