⭐ Important points (exam-critical)
- ⭐India uses 2011-12 as base year for GDP deflator.
- ⭐Transfer payments not included in national income (pensions to retirees from government).
- ⭐Distinguish GDP (territorial) from GNP (national — adds NFIA).
- ⭐MOSPI (Ministry of Statistics & Programme Implementation) releases India's GDP data.
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