Relationship of Payment Statistics and Sector-Wise Gross Value Added in the Indian Economy: A Regression Analysis Approach

Abstract

Purpose: To explore the impact of payment statistics on sector-wise gross value added (GVA) in the Indian economy. Theoretical framework: Payment statistics are a measure of the volume and value of payments made in an economy. They are an important indicator of economic activity, as they reflect the flow of goods and services between buyers and sellers. GVA is a measure of the total value of goods and services produced in an economy, after subtracting the cost of intermediate inputs. Design/Methodology/Approach: The study uses regression analysis to examine the relationship between payment statistics and sector-wise GVA in India from 2011 to 2022. Findings: The study finds that payment statistics exhibit a significant influence on major sector-wise GVA during the specified period. Originality/Value: The study contributes to the literature by providing empirical evidence on the relationship between payment statistics and sector-wise GVA in India.