UPSC Prelims Practice Questions — Release of Discussion Paper on “Changes in Methodology of Quarterly GDP series and Sub-national Accounts”
Q1. The base year of India's National Accounts has moved through the series 1948-49, 1960-61, 1970-71, 1980-81, 1993-94, 1999-2000, 2004-05, 2011-12 and, currently, 2022-23. How many times has the base year been revised to arrive at the current 2022-23 series?
- A. Seven
- B. Eight
- C. Nine
- D. Ten
Q2. In the context of India's National Accounts, the 'base year' of the GDP series primarily refers to which one of the following?
- A. The year whose prices serve as the reference for computing constant-price (real) estimates and whose economic structure is used as the benchmark for weights
- B. The earliest financial year for which quarterly GDP estimates are made available
- C. The year in which the UN System of National Accounts was first adopted by India
- D. The financial year in which the revised GDP series is formally released to the public
Q3. Which one of the following is the body primarily responsible for compiling India's annual and quarterly GDP estimates?
- A. The National Accounts Division of the National Statistical Office (NSO)
- B. The Monetary Policy Department of the Reserve Bank of India
- C. NITI Aayog
- D. The National Sample Survey Office
Q4. With reference to the institutional architecture of India's official statistics, consider the following statements:
1. The National Statistical Office (NSO) was formed by merging the Central Statistics Office (CSO) and the National Sample Survey Office (NSSO).
2. MoSPI functions as an attached department under the Ministry of Finance.
3. The National Accounts Division compiles both annual and quarterly GDP estimates.
4. India's official statistics are governed under the Collection of Statistics Act, 2008.
Which of the statements given above are correctly identified?
- The National Statistical Office (NSO) was formed by merging the Central Statistics Office (CSO) and the National Sample Survey Office (NSSO).
- MoSPI functions as an attached department under the Ministry of Finance.
- The National Accounts Division compiles both annual and quarterly GDP estimates.
- India's official statistics are governed under the Collection of Statistics Act, 2008.
- A. 1 and 3 only
- B. 1, 3 and 4
- C. 2 and 4 only
- D. 1, 2 and 4
Q5. The Advisory Committee on National Account Statistics (ACNAS) set up for the 2022-23 base-year revision constituted several sub-committees to deliberate on specific subjects. How many such sub-committees were constituted under ACNAS?
- A. Three
- B. Four
- C. Five
- D. Seven
Q6. The Advisory Committee on National Account Statistics (ACNAS), chaired by Prof. Bishwanath Goldar, was constituted by which one of the following?
- A. Ministry of Statistics and Programme Implementation
- B. Ministry of Finance
- C. NITI Aayog
- D. Reserve Bank of India
Q7. The series of discussion papers preceding the new 2022-23 GDP series was released as part of a base-year revision guided by an advisory committee. This committee is chaired by which one of the following?
- A. Prof. Bishwanath Goldar
- B. Prof. C. Rangarajan
- C. Prof. Chetan Ghate
- D. Dr. G.C. Manna
Q8. Which one of the following was the first discussion paper released by MoSPI in the run-up to the new 2022-23 GDP series?
- A. Paper on the production and income approach to GDP compilation
- B. Paper on the expenditure approach to GDP compilation
- C. Paper on changes in methodology of the Quarterly GDP series and Sub-national Accounts
- D. Paper on constant-price estimates
Q9. Among the following statistical series being rebased by MoSPI, which one was scheduled for release the earliest in 2026?
- A. The new Consumer Price Index (CPI) series
- B. The new GDP series
- C. The new Index of Industrial Production (IIP) series
- D. The GDP back series
Q10. With reference to the rollout of the new National Accounts series, consider the following statements:
1. The new GDP series adopts FY 2022-23 as the base year.
2. The feedback window for the discussion paper on Quarterly GDP and Sub-national Accounts closed on 5 February 2026.
3. The new GDP series was scheduled for release on 27 February 2026.
4. The new base year 2022-23 replaced the immediately preceding base year of 2004-05.
Which of the above is/are NOT correct?
- The new GDP series adopts FY 2022-23 as the base year.
- The feedback window for the discussion paper on Quarterly GDP and Sub-national Accounts closed on 5 February 2026.
- The new GDP series was scheduled for release on 27 February 2026.
- The new base year 2022-23 replaced the immediately preceding base year of 2004-05.
- A. 1 only
- B. 4 only
- C. 2 and 4
- D. 3 and 4
Q11. In the context of India's sub-national accounts, 'District Domestic Product (DDP)' is best described as which one of the following?
- A. The monetary measure of all goods and services produced within a district's geographical boundaries in a year, accounted without duplication
- B. The total central and state transfers received by a district government in a financial year
- C. The average per-capita income of the resident population of a district
- D. The value of goods and services a district exports to other districts and states
Q12. With reference to the compilation of India's Quarterly GDP estimates, consider the following statements:
1. Provisional quarterly estimates rely more on benchmark-indicator extrapolation than the First Revised Estimates do.
2. First Revised Estimates are built using detailed industry-wise and institution-wise data.
3. In the new series, the Proportional Denton benchmarking replaces the SNA framework entirely.
Which of the statements given above is/are correct?
- Provisional quarterly estimates rely more on benchmark-indicator extrapolation than the First Revised Estimates do.
- First Revised Estimates are built using detailed industry-wise and institution-wise data.
- In the new series, the Proportional Denton benchmarking replaces the SNA framework entirely.
- A. 1 only
- B. 1 and 2 only
- C. 2 and 3 only
- D. 1, 2 and 3