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CBSE 2020 Class 12 Economics Delhi Set 2

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Question : 4 of 13
Marks: +1, -0
Calculate Net Value Added at factor cost from the following data :
   Particulars  (₹ in lakh)
 (i)  Durable producer goods (with a life span of 10 years)  10
 (ii)  Single use producer goods  5
 (iii)  Sales  20
 (iv)  Unsold Goods (Stock)  2
 (v)  Goods and Services Tax (GST)  1
Solution:  
GDP GPMP=GP_{MP}= Sales + Unsold Goods (Stock) - Single Use Producer Goods.
      GDPMP=20+2−5\; \;\; GDP_{MP}=20+2-5
      GDPMP=17  lakh  \; \;\; GDP_{MP}=17 \;\text{lakh}\;
    Depreciation  =\;\;\text{Depreciation}\;=
      Value of durable producer goods    Life span of producer goods  =1010=1\;\;\frac{\;\text{Value of durable producer goods}\;}{\;\text{Life span of producer goods}\;}=\frac{10}{10}=1
Net value added at factor cost/Net Domestic Product at Factor Cost
  =  GDPmp  =  Depreciation  −  NIT  \;=\;\text{GDPmp}\;=\;\text{Depreciation}\;-\;\text{NIT}\;
  =  GDPmp  −  Depreciation  −  IT  +  Subsidy  \;=\;\text{GDPmp}\;-\;\text{Depreciation}\;-\;\text{IT}\;+\;\text{Subsidy}\;
  =17−1−1+0\;=17-1-1+0
NDPFC=15NDP_{FC}=15 lakh
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