The Hindu Explains | What is Gross Value Added, and how is it relevant when growth is announced in GDP terms?


In 2015, India opted for Gross Value Added (GVA) in lines with the UN System of National Accounts of 2008. According to the SNA, gross value added, is defined as the value of output minus the value of intermediate consumption and is a measure of the contribution to GDP made by an individual producer, industry or sector. Details from the news is important for both prelims and mains.

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