UPSC Prelims Practice Questions — Ministry of Statistics and Programme Implementation has revised base year of Gross Domestic Product from 2011-12 to 2022-23
Q1. In the context of India's national accounts, the term 'base year' most precisely refers to which one of the following?
- A. The reference year whose prices are held constant to compute real (constant-price) estimates and which is conventionally assigned an index value of 100
- B. The financial year in which the highest nominal GDP was recorded in the preceding decade
- C. The year from which a new statistical agency assumes responsibility for compiling national income
- D. The first year for which quarterly, as opposed to only annual, GDP estimates become available
Q2. Which one of the following was the FIRST base year adopted for India's official national income (GDP) estimates?
- A. 1948-49
- B. 1960-61
- C. 1970-71
- D. 1980-81
Q3. Within the Ministry of Statistics and Programme Implementation, which body is responsible for the actual compilation of the national accounts (GDP) estimates?
- A. National Statistical Office (NSO)
- B. National Statistical Commission (NSC)
- C. NITI Aayog
- D. Department of Economic Affairs
Q4. With reference to the 2011-12 GDP series and the new 2022-23 GDP series, consider the following statements:
1. The 2011-12 series replaced GDP at factor cost with GVA at basic prices as the primary measure of output.
2. The base-year revision to 2022-23 was guided by the Advisory Committee on National Accounts Statistics (ACNAS) chaired by Prof. B.N. Goldar.
3. Unlike the 2011-12 series, the 2022-23 series discontinues double deflation and reverts to single deflation.
Which of the statements given above is/are correct?
- The 2011-12 series replaced GDP at factor cost with GVA at basic prices as the primary measure of output.
- The base-year revision to 2022-23 was guided by the Advisory Committee on National Accounts Statistics (ACNAS) chaired by Prof. B.N. Goldar.
- Unlike the 2011-12 series, the 2022-23 series discontinues double deflation and reverts to single deflation.
- A. 1 and 2 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Q5. Consider the following data sources. Which of them are correctly identified as high-frequency/administrative datasets newly incorporated into the 2022-23 GDP series?
1. GST collections
2. e-Vahan vehicle registration portal
3. Public Financial Management System (PFMS)
4. MCA-21 corporate database
Which of the above is/are correctly identified?
- GST collections
- e-Vahan vehicle registration portal
- Public Financial Management System (PFMS)
- MCA-21 corporate database
- A. 1, 2 and 3
- B. 2 and 4 only
- C. 1 and 3 only
- D. 1, 2, 3 and 4
Q6. Under whose chairmanship was the Advisory Committee on National Accounts Statistics (ACNAS), which recommended the methodology for the 2022-23 base-year series, constituted?
- A. Prof. B.N. Goldar
- B. Dr. C. Rangarajan
- C. Dr. Pronab Sen
- D. Prof. Sudipto Mundle
Q7. In which base-year series did India first adopt GVA at basic prices (in place of GDP at factor cost) as the headline measure of output?
- A. 2011-12 series
- B. 2004-05 series
- C. 1999-2000 series
- D. 2022-23 series
Q8. With reference to the relationship between GVA and GDP in India's national accounts, consider the following statements:
1. GDP at market prices equals GVA at basic prices plus product taxes minus product subsidies.
2. GVA at basic prices includes production taxes (net of production subsidies) but excludes taxes on products.
3. Basic prices include the product taxes that a producer collects and passes on to the government.
4. GVA at basic prices is identical to GVA at factor cost.
Which of the above is/are correct?
- GDP at market prices equals GVA at basic prices plus product taxes minus product subsidies.
- GVA at basic prices includes production taxes (net of production subsidies) but excludes taxes on products.
- Basic prices include the product taxes that a producer collects and passes on to the government.
- GVA at basic prices is identical to GVA at factor cost.
- A. 1 and 2 only
- B. 2 and 4 only
- C. 1, 3 and 4
- D. 3 and 4 only
Q9. Which one of the following selected 2022-23 as the new base year and released the corresponding New Series of National Accounts?
- A. Ministry of Statistics and Programme Implementation
- B. Ministry of Finance
- C. Reserve Bank of India
- D. Ministry of Corporate Affairs
Q10. The System of National Accounts (SNA), 2008, with which India's new GDP series is aligned, was prepared as an internationally agreed standard under the auspices of which of the following?
- A. Jointly by the United Nations, IMF, OECD, World Bank and the European Commission (Eurostat)
- B. The International Monetary Fund alone
- C. The World Bank and the World Trade Organization
- D. The Organisation for Economic Co-operation and Development alone
Q11. With reference to the rollout of the 2022-23 national accounts series, consider the following statements:
1. The New Series with base year 2022-23 was released on 27 February 2026.
2. The detailed methodology and data sources document is scheduled to be released by August 2026.
3. The full back series of recalculated GDP is to be released by December 2026.
4. The current 2022-23 series has already been aligned with the System of National Accounts (SNA), 2025.
Which of the statements given above is/are NOT correct?
- The New Series with base year 2022-23 was released on 27 February 2026.
- The detailed methodology and data sources document is scheduled to be released by August 2026.
- The full back series of recalculated GDP is to be released by December 2026.
- The current 2022-23 series has already been aligned with the System of National Accounts (SNA), 2025.
- A. 4 only
- B. 3 and 4 only
- C. 1 and 2 only
- D. 2 only
Q12. Which apex body has recommended that the base year of India's national accounts be revised periodically (roughly every five years) so as to maintain the comparability and relevance of the series?
- A. National Statistical Commission
- B. National Statistical Office
- C. NITI Aayog
- D. Finance Commission