WBCS.LIVE practice question
What is the current base year used for the calculation of GDP at constant prices in India?
Solve this multiple-choice question and check the correct answer with its explanation below.
Answer options
Correct answer and explanation
Correct answer: 2011ā12
Explanation: ā Correct Answer: B) 2011ā12 š Explanation: The Central Statistics Office (now part of NSO) revised the base year for national accounts from 2004ā05 to 2011ā12 in January 2015. Using a base year allows economists to measure real economic growth by removing the effects of inflation. Although there have been proposals to update the base year again, 2011ā12 remains the official benchmark for GDP calculations currently.