Absolute level of real Gross Value Added (or GVA)

• The Gross Value Added provides a picture of the economy from the supply side. It maps the value-added by different sectors of the economy such as agriculture, industry and services. In other words, GVA provides a proxy for the income earned by people involved in the various sectors.
•  At Rs 123.4 lakh crore, India’s real GVA level, too, will fall below the 2018-19 level.