Economic Awareness - Sectors of Indian Economy
If GDP at factor cost is Rs. 1000 crore, indirect taxes are Rs. 150 crore, and subsidies are Rs. 50 crore, what is the GDP at market price?
If GDP at factor cost is Rs. 1000 crore, indirect taxes are Rs. 150 crore, and subsidies are Rs. 50 crore, what is the GDP at market price?
medium Q14 of 15
Step-by-Step Solution
Step 1: Recall the formula
GDP at Market Price = GDP at Factor Cost + Indirect Taxes - Subsidies.Step 2: Substitute values
1000 + 150 - 50 = 1100 crore.Final Answer:
Rs. 1100 crore → Option CQuick Check:
FC + IT - Sub = 1100 ✅
Quick Trick: Use formula directly to avoid calculation errors.
Common Mistakes:
- Adding subsidies instead of subtracting them.
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