MCA 21 – e-governance initiative to compile a new data source on Private Corporate sector • It comprises annual accounts of companies (in mining, manufacturing and services), statutorily filed online with the Ministry of Corporate Affairs. • Allows for sector-wise estimates of corporate savings and investment, unlike the previous method of RBI of relying on sample corporate data. • Due to MCA 21, the savings and investments estimates have gone up sizeably. • 23.4%(old series) to 35.4%(new series) for savings and 28.5%(old series) to 40.3%(new series) for investment for 2013-15.
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MCA 21 – e-governance initiative to compile a new data source on Private Corporate sector • It comprises annual accounts of companies (in
mining, manufacturing and services), statutorily filed online with the Ministry of Corporate Affairs.
• Allows for sector-wise estimates of corporate savings and investment, unlike the previous method of RBI of relying on sample corporate data.
• Due to MCA 21, the savings and investments estimates have gone up sizeably.
• 23.4%(old series) to 35.4%(new series) for savings and 28.5%(old series) to 40.3%(new series) for investment for 2013-15.
MCA 21 – e-governance initiative to compile a new data source on Private Corporate sector
Gross Value Added (GVA) Vs. GDP
Gross value added (GVA) is defined as the value of output less the value of intermediate consumption. Value added represents the contribution of labour and capital to the production process. When the value of taxes on products (less subsidies on products) is added, the sum of value added for all resident units gives the value of gross domestic product (GDP).
Thus, Gross Domestic Product (GDP) of any nation
represents the sum total of gross value added (GVA) (i.e, without discounting for capital consumption or depreciation) in all the sectors of that economy during the said year after adjusting for taxes and subsidies.
• Gross value added at factor cost is not a concept used explicitly in the SNA. However, it can easily be derived from either of GVA at basic prices or GVA at producer's price by subtracting the value of any taxes on production and adding subsidies on production, payable out of gross value added as defined. For example, the only taxes on production remaining to be paid out of gross value added at basic prices consist of “other taxes on production” which are not charged per unit.
• These consist mostly of current taxes (or subsidies) on the labour or capital employed in the enterprise, such as payroll taxes or current taxes on vehicles or buildings. Gross value added at factor cost can thus be derived from gross value added at basic prices by subtracting other taxes on production and adding subsidies on production.
• The basic price is the amount receivable by the
producer from the purchaser for a unit of a good or service produced as output minus any tax payable, and plus any subsidy receivable, by the producer as a consequence of its production or sale. It excludes any transport charges invoiced separately by the producer.
• Gross value added at basic prices is defined as output valued at basic prices less intermediate consumption valued at purchasers’ prices. Here the GVA is known by the price with which the output is valued. From the point of view of the producer, purchasers’ prices for inputs and basic prices for outputs represent the prices actually paid and received. Their use leads to a measure of gross value added that is particularly relevant for the producer.