UPSC Prelims Practice Questions — Release of the new series of GDP, CPI and IIP is scheduled for 27th February 2026, 12th February 2026 and May 2026

Question 1

In the ongoing base-year revision by MoSPI, of the three macro indicators—GDP, CPI and IIP—how many have 2022-23 as their newly adopted base year?

Accepted Answer

Two

Answer

One

Answer

Three

Answer

None

Question 2

With reference to the base years of the indicators being rebased by MoSPI, consider the following pairings:
1. GDP — new base year 2022-23
2. IIP — new base year 2022-23
3. CPI — new base year 2024
4. CPI — previous base year 2011-12
Which of the above pairings is/are NOT correct?

Accepted Answer

4 only

Answer

1 and 2

Answer

3 and 4

Answer

2 only

Question 3

Which one of the following is the agency that actually compiles India's national income (GDP), Consumer Price Index and Index of Industrial Production?

Accepted Answer

National Statistical Office

Answer

Reserve Bank of India

Answer

NITI Aayog

Answer

Directorate General of Commercial Intelligence and Statistics

Question 4

In the context of India's official statistics, the term 'National Statistical Office (NSO)' most precisely refers to which one of the following?

Accepted Answer

The office formed in 2019 by merging the Central Statistics Office and the National Sample Survey Office under MoSPI

Answer

A statutory body created under the Collection of Statistics Act to conduct the decadal Census

Answer

An autonomous data wing of the Reserve Bank of India for compiling monetary and price statistics

Answer

A constitutional body under Article 340 responsible for socio-economic surveys

Question 5

The release calendar for the new (rebased) series of GDP, CPI and IIP in 2026 is being operationalised by which one of the following ministries?

Accepted Answer

Ministry of Statistics and Programme Implementation

Answer

Ministry of Finance

Answer

Ministry of Commerce and Industry

Answer

Ministry of Corporate Affairs

Question 6

With reference to the scheduled 2026 release of the new (rebased) series, consider the following:
1. CPI (new series) — 12 February 2026
2. GDP (new series) — 27 February 2026
3. IIP (new series) — May 2026
4. IIP (new series) — the only one of the three to be released before CPI
Which of the above is/are correctly identified?

Accepted Answer

1, 2 and 3

Answer

1 and 4 only

Answer

2 and 3 only

Answer

1, 2, 3 and 4

Question 7

In the context of national accounts, the 'base year' of the GDP series is best defined as which one of the following?

Accepted Answer

The reference year, held constant, against which prices and quantities of other years are measured with its index set to 100

Answer

The financial year in which the highest real GDP growth was recorded

Answer

The year in which a new methodology such as double deflation is first introduced

Answer

The first year for which back-series estimates become available

Question 8

Comparing the outgoing GDP series with the new one, consider the following statements:
1. The current series uses 2011-12 as base year, whereas the new series adopts 2022-23.
2. The interval between the 2011-12 base and the 2022-23 base is roughly a decade, longer than the five-year interval recommended internationally.
3. The 2022-23 revision is the first-ever base-year revision of India's GDP series.
Which of the statements given above is/are correct?

Accepted Answer

1 and 2 only

Answer

1 only

Answer

2 and 3 only

Answer

1, 2 and 3

Question 9

The Advisory Committee on National Accounts Statistics (ACNAS), which recommended the rebasing of the GDP series, functions under the aegis of which one of the following?

Accepted Answer

Ministry of Statistics and Programme Implementation

Answer

Reserve Bank of India

Answer

NITI Aayog

Answer

Ministry of Finance

Question 10

Who chairs the Advisory Committee on National Accounts Statistics (ACNAS) that steered the current GDP base-year revision?

Accepted Answer

Prof. Biswanath Goldar

Answer

Prof. Mridul K. Saggar

Answer

Shri Ashish Kumar

Answer

Dr. C. Rangarajan

Question 11

The periodic rebasing of national accounts—advised at roughly a five-year interval to capture structural change—is primarily prescribed under which one of the following international frameworks?

Accepted Answer

UN System of National Accounts

Answer

IMF's Special Data Dissemination Standard

Answer

World Bank's International Comparison Program

Answer

OECD Frascati Manual

Question 12

MoSPI held a series of pre-release consultative workshops on the base revision of GDP, IIP and CPI. The FIRST such workshop was held in which one of the following cities?

Accepted Answer

Mumbai

Answer

New Delhi

Answer

Chennai

Answer

Kolkata

UPSC Prelims Practice Questions — Release of the new series of GDP, CPI and IIP is scheduled for 27th February 2026, 12th February 2026 and May 2026

Q1. In the ongoing base-year revision by MoSPI, of the three macro indicators—GDP, CPI and IIP—how many have 2022-23 as their newly adopted base year?

Q2. With reference to the base years of the indicators being rebased by MoSPI, consider the following pairings: 1. GDP — new base year 2022-23 2. IIP — new base year 2022-23 3. CPI — new base year 2024 4. CPI — previous base year 2011-12 Which of the above pairings is/are NOT correct?

Q3. Which one of the following is the agency that actually compiles India's national income (GDP), Consumer Price Index and Index of Industrial Production?

Q4. In the context of India's official statistics, the term 'National Statistical Office (NSO)' most precisely refers to which one of the following?

Q5. The release calendar for the new (rebased) series of GDP, CPI and IIP in 2026 is being operationalised by which one of the following ministries?

Q7. In the context of national accounts, the 'base year' of the GDP series is best defined as which one of the following?

Q9. The Advisory Committee on National Accounts Statistics (ACNAS), which recommended the rebasing of the GDP series, functions under the aegis of which one of the following?

Q10. Who chairs the Advisory Committee on National Accounts Statistics (ACNAS) that steered the current GDP base-year revision?

Q11. The periodic rebasing of national accounts—advised at roughly a five-year interval to capture structural change—is primarily prescribed under which one of the following international frameworks?

Q12. MoSPI held a series of pre-release consultative workshops on the base revision of GDP, IIP and CPI. The FIRST such workshop was held in which one of the following cities?