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Title: A STUDY TO INVESTIGATE THE HOUSEHOLD AND ILLEGAL ECONOMY GDP UNDERESTIMATION IN INDIA
Authors: Kavya Kapoor
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Kavya Kapoor Pathways School Gurgaon
MLA 8 Kapoor, Kavya. "A STUDY TO INVESTIGATE THE HOUSEHOLD AND ILLEGAL ECONOMY GDP UNDERESTIMATION IN INDIA." Int. j. of Social Science and Economic Research, vol. 8, no. 10, Oct. 2023, pp. 3295-3307, doi.org/10.46609/IJSSER.2023.v08i10.020. Accessed Oct. 2023. APA 6 Kapoor, K. (2023, October). A STUDY TO INVESTIGATE THE HOUSEHOLD AND ILLEGAL ECONOMY GDP UNDERESTIMATION IN INDIA. Int. j. of Social Science and Economic Research, 8(10), 3295-3307. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i10.020 Chicago Kapoor, Kavya. "A STUDY TO INVESTIGATE THE HOUSEHOLD AND ILLEGAL ECONOMY GDP UNDERESTIMATION IN INDIA." Int. j. of Social Science and Economic Research 8, no. 10 (October 2023), 3295-3307. Accessed October, 2023. https://doi.org/10.46609/IJSSER.2023.v08i10.020.
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ABSTRACT: GDP measures the market value for all final goods and services produced in an economy. There are many factors of the GDP which go unaccounted for in its calculation due to insufficient data. This includes the household economy as well as the illegal economy. Essentially, such a miscalculation can mean that the actual economic growth of the country will not be accurate and will not be able to provide its stakeholders an appropriate analysis. This study aimed to explore the factors that cause the underestimation of the GDP in a country like India and the methods used by the government to cope with it. In order to facilitate the aforementioned, secondary information was collected through official websites specific to the country as well as prior research in the field. The main findings of this paper are that there is an undeniable consequence of underestimation of GDP to India’s economy, justifying a need for a more accurate estimation model as well as a need for further efforts made by the government to combat this issue.

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