According to the table of basic national income aggregates, GVA at market prices is the same as:
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → GDP at market prices
GVA at market prices is GVA at basic prices plus net product taxes. That gives GDP at market prices, so GVA at market prices = GDP at market prices.
NCERT (2026-27): “2.2.4 Factor Cost, Basic Prices and Market Prices … As stated above, now the CSO releases GVA at basic prices. Thus, it includes the net production taxes but not net product taxes. In order to arrive at the GDP (at market prices) we need to add net product taxes to GVA at basic prices. Thus, |