Paper I · 6 Indian Economy & Planning · 6.1.2 National income

6.1.2.2 Market prices, factor cost and basic prices: GVA and net product taxes

Since January 2015 India's headline output measures are GDP at market prices and GVA at basic prices; they differ by product taxes less product subsidies.

  • APPSC Paper I · Paper I
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • market prices
  • factor cost
  • basic prices
  • GVA
  • production taxes
  • product taxes
  • subsidies
  • 2015 series

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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