States to assess GDP through spending method

NEW DELHI: For decades, a state's growth was measured by relying only on the production approach, or by gauging what factories, farms, and services within its borders produced. That model is now set for an overhaul, as the statistics ministry unveiled a new manual to compute state GDP via expenditure approach -- by tracking household spending, govt outlays, capital investments, and net trade.This marks the attempt to track how consumer habits have evolved over time, including explicitly logging modern household costs-ranging from OTT streaming subscriptions and DTH fees to specialised personal care items like face washes, hair serums, and electric grooming tools.You use AI every day. Now get your AI Quotient. Take the AIQ test.