WBCS.LIVE practice question

Which financial year currently serves as the base year for calculating the Gross Domestic Product (GDP) of India?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 2004-05
  2. 2011-12
  3. 2014-15
  4. 2017-18

Correct answer and explanation

Correct answer: 2011-12

Explanation: āœ… Correct Answer: B) 2011-12 šŸ“š Explanation: The current base year used by the Government of India for the calculation of Gross Domestic Product (GDP) and other macroeconomic aggregates is 2011-12. This base year was updated from the previous 2004-05 benchmark in the year 2015 by the Central Statistics Office (CSO). Updating the base year ensures that the GDP metric accurately reflects contemporary structural changes and relative prices within the economy.