The purpose of using Constant Prices is to isolate the real growth in the quantity of goods and services produced. Without this adjustment, a state's GSDP could appear to grow significantly, even if the actual output (like the number of cars, bushels of wheat, or hours of service) remained the same, simply because prices went up due to inflation. The 2011-12 price level is the established Base Year for official calculations in India, including GSDP, to ensure all time periods are measured against a common standard. Real growth is adjusted for inflation at standard 2011-12 price level. 📈 ECONOMIC COMPARISON 2013–2024 (INDIA in brackets) GDP / GSDP Current Prices 2013–14: ₹4,51,580 Cr ( ₹113.6L Cr ) 2023–24: ₹14,63,963 Cr ( ₹293.9L Cr ) +224% Growth ( +159% ) 2011–12 Prices 2013–14: ₹3,81,109 Cr ( ₹92.5L Cr ) 2023–24: ₹8,24,242 Cr ( ₹172.9L...
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