22_09_08

Current price

 Current Price 

The maximum retail price (MRP) that is marked on a product is its current price, that is, the current price of a product can be obtained by adding inflation from the base year to its fixed price.  


The current price is determined by adjusting the current inflation situation. Thus the GDP of a year in all countries of the world including India will be different at constant and current prices.

☆Trends in growth of national income ☆

 Low at constant prices and high at current prices (because  In general, inflation is always positive or there is a policy effort to keep it positive). In economies where inflation has been controlled and balanced for a relatively long period (developed countries), national income is calculated at current prices. 

☆constant price ☆

In contrast, India  National Income is calculated at a constant price by most of the developing countries including India.With the quantity of India's National Income (NI) which is its NNP, it is also written- At factor cost and at constant price (At factor cost and  Constant price ) but ,   In Thick Review, the data related to the country's income is provided by the Ministry of Finance at market cost and current value.  These data are used as needed.