Economics · National Income Accounting
Which of the following correctly describes the relationship between Gross Value Added (GVA) at Basic Prices and GVA at Factor Cost in the context of the Indian economy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1GVA at Basic Prices = GVA at Factor Cost + Net Subsidies on Products
- 2GVA at Basic Prices = GVA at Factor Cost - Depreciation
- 3GVA at Basic Prices = GVA at Factor Cost + Net Taxes on Production✓
- 4GVA at Basic Prices = GVA at Factor Cost + Net Taxes on Products
Correct answer
GVA at Basic Prices = GVA at Factor Cost + Net Taxes on Production
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