[Economy Lecture] GST Goods & Services Tax 122nd Amendment, GDP Calculation Methods & CSO Base Year Revision

Youtube65 Comments

India Yearbook
  1. Prologue
  2. L4/P8: Goods and services tax (GST)
  3. L5/P1: GDP Calculation Methods & CSO revision


  • The economic survey related articles will be published after I’m done reading and researching myself.
  • In the meantime, here’s the recoding of my lecture series on budget and economic survey at SPIPA, Ahmedabad.
  • Third Second Session 2:30 hours- covering two major topics GST and GDP.
  • PowerPoint of the lecture, available at Mrunal.org/Download
  • Medium of instruction- Hindi.
  • English version not possible for the moment, because I’m required to teach at this batch, in Hindi/Gujarati only. Besides, same content is available in English-text articles or English PPTs on the site.

L4/P8: Goods and services tax (GST)

GST Goods and Services Tax

  1. recap of the previous lectures on fiscal policy
  2. sales tax and cascading effect explained
  3. Value added tax (VAT) and input credit system.
  4. What are MODVAT and CENVAT?
  5. Why do we need goods and services tax?
  6. 122nd constitutional amendment Bill 2014: salient features of.
  7. GST council: structure and functions
  8. list of union and states indirect taxes to be subsumed under GST regime
  9. What are CGST, SGST and IGST
  10. Four benefits of GST: Efficient logistics and warehousing, Ancillarisation, Same “Base” computation and Zero rated Exports.
  11. Four Challenges in implementation: High revenue neutral rate (RNR), Compensation to states & 14th Finance commission, Registration threshold and Misc. issues.

Youtube Link: https://youtu.be/U6HF7Q3Yo_0

L5/P1: GDP Calculation Methods & CSO revision

GDP calculation

  1. definition and formulas of Gross Domestic Product (GDP), GNP, NNP, net national income and net disposable income
  2. Three methods of calculating GDP: income method, expenditure method and production or gross value added (GVA) method.
  3. Modification done by CSO (Central statistical Organisation) in the calculation of GDP and its base year
  4. Criticism against the new CSO method for calculating GDP.
  5. Sectoral growth rate data from economic survey, ascending descending orders for MCQs.

Youtube Link: https://youtu.be/SNP2b9i8b44

Visit youtube.com/user/TheMrunalPatel For more lectures on UPSC General Studies.

Mrunal recommends

  1. (free) NCERT, NIOS, TN-Books
  2. Environment by ShankarIAS
  3. Indian Polity M.Laxmikanth (Hindi | English)
  4. Art & Culture by Nitin Singhania (Hindi | English)
  5. Spectrum: Modern History (Hindi | English)
  6. Bipin Chandra: Post Independence
  7. Fast-track to Arithmetic Rajesh Verma
  8. MK Pandey’s Analytical Reasoning
  9. Disha’s Topicwise Paperset (Hindi | English)
  10. School Atlas
  11. Mains: Language papers
  1. (free) NCERT, NIOS, TN-Books 4 History,Geo,Sci
  2. Indian Polity M.Laxmikanth (Hindi | English)
  3. Spectrum: Modern History (Hindi | English)
  4. Maths: Quantam CAT Sarvesh Kumar
  5. Objective General English SP Bakshi
  6. Word Power made Easy -Norman Lowe
  7. Topic wise Solved Paperset by Disha

So far 65 Comments posted

  1. manish chaurasiya

    General science topics sir!

  2. aditya kherade

    Please send me a books for MPSC exam.

  3. kj singh

    What is your Message? Search before asking questions & confine discussions to exams related matter only.

  4. Anjana patel

    GST aane k baad kya subhi states me petrol ki price same ho jayegi?????


      No. Petrol shall be out of purview of GST hence it will be taxed as per present taxation system

  5. Vinay Poonia

    Sir can u send me study material for RBI grade B officer for Finance & management subject

  6. Lalit

    I am unable to Download notes from the links you have given ….that go daddy walk site

  7. kalpesh

    sir Please send me sector wise contribution gdp india 1951-2014

  8. Pankaj Narayan

    Hello Sir !
    Good Evening.

    I watched your lecture on GST.
    I could not get the concept of Zero Rated exports.
    What is the current situation under VAT for exports ?
    If All tax paid will be refunded as input credit, Will it effect the revenue of govt or not ?
    Please, if you get time do clear my doubt.
    Thank you.

    1. chiranjeev

      If All tax paid will be refunded as input credit, Will it effect the revenue of govt or not ?

      I don’t think so , as the end consumer is paying the appropriate tax , input credit is used to remove cascading effects on taxes.

  9. karan khurana

    critical comment on the feature of GST

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