The CSO adopted the concept of Gross Value Added in ______.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. January 2015.
The Central Statistical Organization (CSO) adopted the concept of Gross Value Added (GVA) in January 2015 as a key measure for assessing the economic performance of various sectors in India. GVA represents the value generated by industries and sectors before deducting taxes and subsidies, providing a clearer picture of economic activity than Gross Domestic Product (GDP) alone. This shift aimed to enhance the understanding of the contribution of different sectors to the economy, facilitating more effective policy-making and economic planning. By incorporating GVA, the CSO aimed to provide a more comprehensive view of India’s economic landscape.