JAIIB Paper 1: Indian Economy & Indian Financial System (IE & IFS)

Q: According to the revised CSO National Income accounting framework in India, Gross Value Added (GVA) at basic prices is calculated as:

Correct Answer: Option B (GVA at factor cost + (Production Taxes - Production Subsidies)). Under the revised CSO methodology, GVA at basic prices = GVA at factor cost + (Production Taxes - Production Subsidies). GDP at market prices is then derived by adding (Product Taxes - Product Subsidies) to GVA at basic prices.

1 Questions (Mod A) 4 Modules

Practice JAIIB Paper 1: Indian Economy & Indian Financial System (IE & IFS) - Module A (Indian Economic Architecture) multiple choice questions with detailed step-by-step explanations.

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