UPSC Prelims Practice Questions — MoSPI decides a comprehensive exercise for revision of base year of Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI)
Q1. In the context of MoSPI's comprehensive revision of GDP, IIP and CPI, the term 'base year' most precisely refers to which one of the following?
- A. The reference year whose price and weighting structure is held fixed and assigned an index value of 100, against which changes in subsequent periods are measured
- B. The first year for which the Government began publishing the particular index
- C. The financial year in which the highest economic growth was recorded, adopted as a performance benchmark
- D. The most recent year for which final, rather than provisional, estimates have become available
Q2. With reference to MoSPI's revised statistical series, consider the following index and its proposed new base year:
1. Gross Domestic Product — 2022-23
2. Index of Industrial Production — 2022-23
3. Consumer Price Index — 2024
4. Consumer Price Index — 2011-12
Which of the above are correctly identified?
- Gross Domestic Product — 2022-23
- Index of Industrial Production — 2022-23
- Consumer Price Index — 2024
- Consumer Price Index — 2011-12
- A. 1 and 3 only
- B. 2 and 4 only
- C. 1, 2 and 3 only
- D. 1, 2, 3 and 4
Q3. With reference to the institutional architecture behind India's macro-statistics, consider the following statements:
1. The National Statistical Office (NSO) is the body that compiles the all-India Index of Industrial Production.
2. The National Accounts Division compiles the national income and GDP aggregates.
3. The Reserve Bank of India, and not MoSPI, is the nodal agency that compiles the official GDP estimates.
4. The base year revision is guided by Technical Advisory Committees/Expert Groups whose members are drawn from academia, State Governments and the RBI.
Which of the statements given above are correct?
- The National Statistical Office (NSO) is the body that compiles the all-India Index of Industrial Production.
- The National Accounts Division compiles the national income and GDP aggregates.
- The Reserve Bank of India, and not MoSPI, is the nodal agency that compiles the official GDP estimates.
- The base year revision is guided by Technical Advisory Committees/Expert Groups whose members are drawn from academia, State Governments and the RBI.
- A. 1, 2 and 4 only
- B. 1 and 3 only
- C. 2, 3 and 4 only
- D. 1, 2, 3 and 4
Q4. Consider the following bodies:
1. National Sample Survey Office (NSSO)
2. Central Statistical Office (CSO)
3. Advisory Committee on National Accounts
4. Securities and Exchange Board of India (SEBI)
Which one of the above is NOT correctly identified as a part of the institutional machinery that compiles or approves India's national accounts and base year revisions?
- National Sample Survey Office (NSSO)
- Central Statistical Office (CSO)
- Advisory Committee on National Accounts
- Securities and Exchange Board of India (SEBI)
- A. 1 only
- B. 2 only
- C. 3 only
- D. 4 only
Q5. With reference to earlier base year revisions of India's key statistical series (before the current exercise), consider the following:
1. GDP — base shifted from 2004-05 to 2011-12, released in 2015
2. IIP — base last shifted to 2011-12, in 2017
3. CPI — base last shifted to 2012, in 2015
4. GDP — base 2004-05 introduced in 2015, replacing 2011-12
Which of the above are correctly identified?
- GDP — base shifted from 2004-05 to 2011-12, released in 2015
- IIP — base last shifted to 2011-12, in 2017
- CPI — base last shifted to 2012, in 2015
- GDP — base 2004-05 introduced in 2015, replacing 2011-12
- A. 1, 2 and 3 only
- B. 1 and 4 only
- C. 2 and 4 only
- D. 1, 2, 3 and 4
Q6. The new base year for GDP (2022-23) supersedes the immediately preceding base year of 2011-12. By how many years do these two base years differ?
- A. 7 years
- B. 9 years
- C. 11 years
- D. 13 years
Q7. The periodic revision of the base year of national accounts, as followed by India, is recommended primarily under which one of the following international frameworks?
- A. The System of National Accounts (SNA) of the United Nations
- B. The Balance of Payments and International Investment Position Manual of the IMF
- C. The Special Data Dissemination Standard of the IMF
- D. The International Standard Industrial Classification of the United Nations
Q8. India's GDP series with base year 2011-12, released in January 2015, adopted its sources and methods in line with which version of the UN System of National Accounts?
- A. SNA 1968
- B. SNA 1993
- C. SNA 2008
- D. SNA 2025
Q9. With reference to how the new GDP series (base 2022-23) differs from the earlier series (base 2011-12), consider the following statements:
1. In the new series, single deflation has been completely eliminated and double deflation is applied in sectors such as manufacturing and agriculture.
2. The new series integrates the Supply Use Table (SUT) framework with the National Accounts framework to minimise the discrepancy between the production and expenditure approaches.
3. The new series, released on 27 February 2026, provides estimates for only a single year, 2022-23, with no quarterly estimates.
Which of the statements given above are correct?
- In the new series, single deflation has been completely eliminated and double deflation is applied in sectors such as manufacturing and agriculture.
- The new series integrates the Supply Use Table (SUT) framework with the National Accounts framework to minimise the discrepancy between the production and expenditure approaches.
- The new series, released on 27 February 2026, provides estimates for only a single year, 2022-23, with no quarterly estimates.
- A. 1 and 2 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Q10. The National Industrial Classification (NIC)-2025, to be used in disseminating the new series of the Index of Industrial Production, was released by which one of the following?
- A. Ministry of Statistics and Programme Implementation
- B. Department for Promotion of Industry and Internal Trade
- C. Ministry of Commerce and Industry
- D. NITI Aayog
Q11. To enhance credibility and ensure global comparability, the new Consumer Price Index (base 2024) series adopts the latest structure of which one of the following international classification frameworks?
- A. Classification of Individual Consumption According to Purpose (COICOP) 2018
- B. International Standard Industrial Classification (ISIC) Revision 5
- C. Central Product Classification (CPC) Version 2.1
- D. Harmonized Commodity Description and Coding System (HS) 2022
Q12. In the Index of Industrial Production (base 2011-12), which one of the following sectors carries the largest weight?
- A. Manufacturing
- B. Mining
- C. Electricity
- D. Construction