GDP at Factor Cost & Market Price Simplified | Indian Economy English Series | Ep.02 | UPSC CSE 2027

📘 Indian Economy English Series | Episode 02 – GDP at Factor Cost & Market Price Simplified Welcome to *Episode 02* of the **Indian Economy English Series**. After understanding the basics of *Gross Domestic Product (GDP)* in Episode 01, this lecture explains one of the most important and frequently tested concepts in the UPSC Economy syllabus—**GDP at Factor Cost and GDP at Market Price**. Many aspirants find these concepts confusing because of **taxes, subsidies, and different methods of calculating GDP**. In this 15-minute concept explainer, we simplify everything using easy language, logical explanations, and practical examples. 📚 In this lecture, you will learn: What is GDP at Factor Cost? What is GDP at Market Price? Difference between Production Taxes and Product Taxes Difference between Production Subsidies and Product Subsidies Why Taxes are Added to GDP Why Subsidies are Subtracted from GDP Net Indirect Taxes (NIT) Relationship between GDP at Factor Cost and GDP at Market Price Numerical examples for better understanding Common UPSC Prelims and Mains questions Tips to avoid conceptual mistakes in the exam By the end of this lecture, you will be able to clearly distinguish between *GDP at Factor Cost* and *GDP at Market Price* and understand how taxes and subsidies affect national income calculations. This lecture is ideal for: UPSC Civil Services Examination (Prelims & Mains) State PSC Examinations CAPF CDS EPFO RBI Grade B NABARD UGC NET (Economics) Students who want to build a strong foundation in Indian Economy If you are preparing for UPSC or any competitive examination, this series will help you master one concept at a time through concise, exam-oriented lessons. 📌 *New episodes uploaded regularly.* --- 📖 Playlist *Indian Economy English Series | 15-Minute Concept Explainers* --- 👍 If you found this lecture helpful: ✔ Like the video ✔ Share it with fellow aspirants ✔ Subscribe for upcoming Economy concept explainers ✔ Turn on notifications so you never miss a new episode --- #️⃣ *Keywords* GDP at Factor Cost, GDP at Market Price, GDP Explained, GDP Simplified, Net Indirect Taxes, Product Taxes, Production Taxes, Product Subsidies, Production Subsidies, National Income, Indian Economy, Indian Economy English, UPSC Economy, UPSC CSE, UPSC Prelims, UPSC Mains, Economy Concepts, Economy in English, Economics for Beginners, UPSC Economy English Series, Government Exams, State PCS, CAPF, CDS, EPFO, Amandeep Singh *Instructor:* Amandeep Singh