a) Several important goods are services left out of the GDP:
i) The GDP includes only the goods and services sold in the market.
ii) The services provided by the parents to their children is very important but it is not included in the GDP because it is not sold in the market.
iii) Likewise clean air, which is vital for a healthy life, has no market value and is left out of the GDP.
b) GDP measures only quantity but not quality :
i) In the 1970s schools and banks did not permit the use of ballpoint pens.
ii) This is because, the ones available in India were of very poor quality.
iii) Since then, not only has there been a substantial increase in the quantity of ballpoint pens produced in India but their quality has also improved a lot.
iv) The improvement in quality of goods is very important but it is not captured by the GDP.
c) GDP does not tell us about the way income is described in the country:
The GDP of a country may be growing rapidly but income may be distributed so unequally that only a small percentage of people may be benefitting from it.
d) The GDP does not tell us about the kind of life people are living:
A high level of per capita real GDP can go hand - in - hand with very low health condition of people, an undemocratic political system, high pollution and high suicide rate.

Contribution of different sectors GD P in India:
i) Gross Value Added (GVA) at current prices for services sector is estimated at 92.6 lakh crore in 2018 - 19.
ii) Services sector accounts for 54.40% of total India's (GVA) of 169.61 lakh crore Indian Rupees.
iii) With GVA of Rs. 50.43 lakh crore, Industry sector contributes 29.73%.
iv) Agriculture and allied sector shares 15.87%.
v) At 2011-12 prices, composition of Agriculture &allied, Industry and services sectors are 14.39%, 31.46% and 54.15% respectively.
vi) The share of primary like agriculture, forestry, fishing and mining and quarrying.
vii) Secondary (Industry) like, manufacturing, electricity, gas, water supply, utility services and construction, tertiary (services) like, trade, hotels, transport, communication etc. have been estimated as 18.57%, 27.03%, 54.40%.
viii) According to sector wise India GDP composition in 2017 are Agriculture (15.4%), Industry (23%) and services (61.5%).
ix) India is 2nd largest producer of agriculture product.
x) India accounts for 7.39% of total global agricultural output.
xi) In Industry sector, India world rank is 6.
xii) In service sector, India world rank is 8.
xiii) Contribution of Agriculture sector in Indian economy is much higher than world's average 6.4%.
xiv) Contribution of Industry and services sector is lower than world's average 30% for Industry sector and 63% for services sector.
xv) At previous methodology, composition of Agriculture & allied, Industry and services sector was 51.81%, 14.16% and 33.25% respectively at current prices in 1950-51.
(xvi) Share of Agriculture & allied sector has declined at 18.20% in 2013 - 14.
xvii) Share of services sector has improved to 57.03%.
xviii) Share of Industry sector has also increased to 24.77%.

a. Primary sector:
i) Agricultural operations are undertaken.
ii) Allied activities of production of raw materials are concentrated
iii) Examples: Agriculture, cattle farm, fishing, mining, forestry, corn, coal
b. Secondary sector:
i) It is an industrial sector
ii) Commodities are produced by transforming the raw materials.
iii) Examples: Iron and steel industry, cotton textile, jute, sugar, cement, paper, petrochemical, automobile and small scale industries.
c. Tertiary sector:
i) It is known as service sector,
ii) Examples: Service of Government, Scientific research, Transport, communication, trade, postal and telegraph, banking, education, entertainment, healthcare and information technology.

(i) Economic growth is the quantitative measure which considers the rise in the output produced in an economy or nation in a particular period in its monetary value.
(ii) GDP and GNP which helps in measuring the actual size of an economy.

(i) Industry sector is secondary sectors.
(ii) For example : Manufacturing, Electricity, Gas, Water supply, Automobile, Iron and Steel other utility services and construction etc..

(i) Product Method
(ii) Income Method
(iii) Expenditure Method

(i) Gross National Product is the total value of (goods and services) produced and income received in a year by domestic residents of a country.
(ii) It includes profit earned from capital invested abroad.
(iii) GNP = C + I + G + (X - M) + NFIA

The four major components of GDP are,
(i) C - Consumption expenditure
(ii) I - Investment expenditure
(iii) G - Government expenditure
(iv) X-M - Exports - Imports
(v) GDP = C + I + G + X-M