India GDP and Standard of Living
India GDP and Standard of Living are closely related as GDP features among the significant factors in the assessment of the standard of living. Standard of living comprises quality as well as amount of commodities offered for consumption by the citizens and the distribution system.
India GDP and Standard of Living Factors:Factors required for the assessment of the standard of living includes:
- Rate of poverty
- Per capita income and income inequality
- Standard of education
- Medical facilities
- Life expectancy
- Social rights
- Environmental condition
- Cultural resources
- Private Consumption within the economy
- Amount of spending by the central government on final goods and services
- Gross imports
- Capital Investments like buying of machinery, construction of dams, roads, mines etc.
- Gross exports