Gross Domestic Product (GDP) is calculated by considering expenditures made by different spenders. These different sources of expenditure in the economy are private consumption, government consumption, business investments, and net exports (exports minus imports). GDP contains the data of final expenditure that include total tax and subsidies that is granted by the Indian government.

GDP Vs GVA-
GDP is one of the selected measures to compare India's economy with another economy.
On the other hand, Gross value added (GVA) is considered to compare different sectors of the same economy.
GDP is basically a value of output after deducting value of intermediate consumption.
GVA of the year is the result of the sum total of GVA in all the sectors of the specific economy after adjusting for taxes and subsidies.
How to calculate?
GDP at Market Prices = ∑ GVA at basic prices + product taxes – product subsidies.

Where,

GVA is for a particular sector

∑GVA is for the economy

GDP is for the economy