Which instrument was used to measure economic growth during the planning era?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Gross Domestic Product.
Gross Domestic Product (GDP): This measure reflects the total monetary value of all goods and services produced within a country's borders over a specific time period. It serves as a comprehensive indicator of a nation's economic performance and growth.
While other measures like Per Capita Gross Domestic Product and Per Capita Income provide insights into individual economic well-being and income distribution, GDP remains the standard metric for assessing overall economic growth during the planning period. National Income is also relevant but is often derived from GDP data. Thus, GDP is the most widely recognized and utilized measure for evaluating economic growth in this context.