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VOL. 10, ISSUE 6 (2024)
Study on the correlation between GDP and the Index Number in India
Authors
Riyadh Sinan, KY Ingale
Abstract
This study investigates the correlation between Gross Domestic Product (GDP)
and the Index Number in India, focusing on the interplay between economic growth
and price levels. Utilizing a time-series analysis of data for Monthly All India
Consumer Price Index (General) (October,1988to December, 2005; Base: 1982=100) the
research employs statistical methods to evaluate how fluctuations in the Index Number,
which reflects changes in price levels and inflation, impact GDP growth rates. Findings
indicate a significant positive correlation, suggesting that rising price levels
are associated with increased GDP growth, albeit with varying degrees across different
sectors. The study also explores the implications of these findings for
policymakers, particularly in the context of inflation control and economic stability.
By understanding this relationship, the research aims to contribute to more effective
economic planning and policy formulation in India.
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Pages:34-40
How to cite this article:
Riyadh Sinan, KY Ingale "Study on the correlation between GDP and the Index Number in India". International Journal of Commerce and Management Research, Vol 10, Issue 6, 2024, Pages 34-40
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