Economics · GVA Basic Prices and GDP Market Prices
Which formula correctly represents the relationship between Gross Domestic Product at Market Prices (GDP-MP) and Gross Value Added at Basic Prices (GVA-BP) in India's national accounts?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1GDP (MP) = GVA (BP) − Indirect Taxes + Production Subsidies
- 2GDP (MP) = GVA (BP) + Consumption of Fixed Capital
- 3GDP (MP) = GVA (BP) + Net Product Taxes (Product Taxes − Product Subsidies)✓
- 4GDP (MP) = GVA (BP) − Net Product Taxes
Correct answer
GDP (MP) = GVA (BP) + Net Product Taxes (Product Taxes − Product Subsidies)
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