In India, the base year of the new GDP series has been shifted from 20

In India, the base year of the new GDP series has been shifted from 2004-05 to

[amp_mcq option1=”2007-08″ option2=”2008-09″ option3=”2010-11″ option4=”2011-12″ correct=”option4″]

This question was previously asked in

UPSC CDS-2 – 2017

The correct answer is 2011-12.

In January 2015, the Ministry of Statistics and Programme Implementation (MOSPI) in India announced a change in the base year for calculating Gross Domestic Product (GDP) estimates from 2004-05 to 2011-12. Along with the base year revision, the methodology for calculating GDP was also revised, bringing it closer to international standards (like the UN System of National Accounts, SNA 2008).

Periodically revising the base year for GDP calculations is necessary to reflect changes in the structure of the economy, prices, and production processes. The new series aimed to capture economic activities more comprehensively, including improvements in data collection methods and incorporation of new data sources like the Ministry of Corporate Affairs database.

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