In national income accounting, GVA stands for __________.

Gross Value Added 

- In national income accounting, GVA stands for "Gross Value Added."

- Gross Value Added is a measure used to calculate the value of goods and services produced by industries and sectors of the economy during a specific period, typically a fiscal year or a quarter.

- GVA represents the difference between the total output (value of goods and services produced) and the intermediate consumption (cost of goods and services used up in the production process).

- It is a fundamental component in calculating the Gross Domestic Product (GDP) of a country.

- Gross Value Added provides valuable insights into the economic performance of different sectors and industries, enabling policymakers and analysts to understand the contribution of each sector to the overall GDP.

- By analyzing GVA data, one can assess the growth and productivity of various sectors, identify areas of strength or weakness in the economy, and formulate appropriate policies to promote economic development and stability.