The base year for national income accounting is periodically revised to reflect the structural changes in the economy and ensure more accurate comparison of economic growth over time. The base year 2004-05 was in effect for several years before being updated.
Which one of the following is taken as the Base Year for estimating GDP at constant prices in India during 2012-13 ?
Asked in HPPSC HPAS Prelims 2013 · Topic: National Income & Gross Domestic Product (Nominal vs. Real GDP and GDP Deflator)
More Economic Development questions
- For measuring Gross Domestic Product (GDP) at constant prices in India, which of the following years was taken as the base year during 2012-13?
- Recently the Government of India has decided to revise the base year for estimating the GDP from :
- 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?