RBI survey forecasted FY17 GVA at 7.8%

As per the recent RBI survey, the real Gross Value Added at basic price (GVA) is expected to increase to 7.8% in the next fiscal (2016-17) from 7.4% expected in2015-16.

• GVA is an internationally accepted measure to gauge economic activity in a country. Gross value added is the measure of the value of goods and services produced in an area, industry or sector of an economy.