From the following data about firm 'X' calculate gross value added at factor cost by it :

Explanation

1. `GVO_(MP)=` Sales + Change in stocks
= Sales + (Closing stock - Opening stock)
`=500+(20-30)= Rs 490` thousand
2. `GDP_(MP)=GVO_(MP)-` Int. consumption
`=490-300= Rs 190` thousand
3. `GDP_(FC)//GVA_(FC)=GDP_(MP)-NIT`
`=GDP_(MP)-` [Indirect taxes - Subsidies]
`=190-(0-40)=190+40`
`= Rs 230` thousand
Note Purchase of machinery is not a part of intermediate consumption as it can be used over and over again whereas intermediate consumption includes those things which are used up in the process of production.