This revision was implemented by the Central Statistics Office (CSO) in January 2015.
Recently the Government of India has decided to revise the base year for estimating the GDP from :
Asked in HPPSC HPAS Prelims 2014 · Topic: National Income & Gross Domestic Product (Nominal vs. Real GDP and GDP Deflator)
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Answer: C. 2004-05 to 2011-12
More Economic Development questions
- Which of the following statements is/are correct? 1. GDPMP is the value of all final goods and services produced within the geographical boundary of a country during a given year at market prices. 2. If the GDP of a country is growing, it is necessary followed by welfare. 3. The ratio of Nominal GDP to Real GDP is called GDP deflator. 4. Real GDP is calculated by dividing Nominal GDP by GDP deflator.
- Which of the following statements are true ? 1. GDPMP is the market value of all final Goods and Services produced within the geographical boundary of a country in a year. 2. If the GDP of a country is rising, the welfare may not rise as a consequence. 3. The ratio of nominal GDP to Real GDP is called GDP Deflator. 4. The ratio of real GDP to nominal GDP is called GDP Deflator.
- Indicate the vital change in the measurement of National Income of India recently. (1) Base year has been changed from 2004-05 to 2011-12. (2) Calculation has changed from factor cost to market prices. (3) Calculation has changed from current prices to constant prices. (4) Both the base year and calculation method have changed.
- 'Base year' in National Income accounting means -
- In which of the following year annual growth rate of Gross National Income and Net National Income on both current prices and constant prices were Negative in India ?
- With reference to Indian economy, consider the following statements: 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?
- The current price index (base 1960) is nearly 330. This means that
- The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the latter takes into account the rate of