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CBSE 2022 Class 12 Economics Outside Delhi Set 1 (Term 2)

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Question : 15 of 19
Marks: +1, -0
From the following data, calculate Net Value Added at Factor Cost  (NVA_FC):\text{ (NVA\_FC):}
 S.No.  Particulars  Amount in (₹Crores)
 (i)  Price per unit of output  20
 (ii)  Output sold (units)  1250 units
 (iii)  Excise duty  5,000
 (iv)  Consumption of fixed capital  1,000
 (v)  Change in stock  (-)500
 (vi)  Single use producer goods  6,000
Solution:  
(a) (i) GDP at MP = Value of Production - Intermediate Consumption
  =24,500−6,000   crores   \; = 24,500 - 6,000 \; \text{ crores } \;
  =18,500   crores   \; = 18,500 \; \text{ crores } \;
NDP\text{NDP} at FC=GDPMP−\text{FC} = \text{GDP}_{\text{MP}} - Consumption of fixed capital-Net indirect taxes =18,500−1,000−5,000=18,500-1,000-5,000 crores =12,500=12,500 crores
Working Notes:
Single use producer goods = Intermediate consumption
Net Indirect Taxes == Indirect taxes - subsidy
=5,000−0=5,000   crores   =5,000-0=5,000 \; \text{ crores } \;
Excise duty is an indirect tax.
Value of Production == price xx quantity + change in stock
  =20×1250+−500\; = 20 \times 1250 + -500
  =25,000−500   crores   \; = 25,000 - 500 \; \text{ crores } \;
  =24,500   crores   \; = 24,500 \; \text{ crores } \;
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