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Question : In which year did the Central Statistical Office adopt the GVA concept in India?

Option 1: 2012

Option 2: 2015

Option 3: 1993

Option 4: 2010


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Answer (1)
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Correct Answer: 2015


Solution : The correct option is - 2015

In order to more accurately estimate economic activity, the Central Statistics Office (CSO) abandoned GDP at factor cost in 2015 and switched to the global practice of GDP at market price and the Gross Value Addition (GVA) measure. An economic productivity metric known as gross value added, or GVA, quantifies the contribution of a corporation, subsidiary, or municipality to an economy, producer, sector, or area.

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