Changing the base year is a regular exercise undertaken by the CSO to reflect the structural changes in the economy and capture relative price changes more accurately. The previous base year before 1993-94 was 1980-81.
The new Gross Domestic Product (GDP) series released by the Central Statistical Organisation (CSO) in February 1999 is with reference to base price of
Asked in UPPCS Prelims 2000 · Topic: National Income & Gross Domestic Product (Gross Domestic Product (GDP): Concepts and Measures)
More Economic Development questions
- The growth in GDP in year 200-02 compared with the tenth plan target has been:
- Assertion (A) : India's real Gross Domestic Product (GDP) grew by 8.2% in FY24 despite global and external challenges. Reason (R) : The focus on maintaining macroeconomic stability ensured that these challenges had minimal impact on India's economy.
- What item(s) account for the differences between GDP at factor cost and GDP at market prices ?
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- If the increment in both demand and supply is equal, then equilibrium price will be
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- Which of the following measures is used to calculate growth rate of Indian economy after revision of national accounts statistics by Central Statistics Office in 2015 ?