UPSC Prelims Practice Questions — NEW SERIES OF GROSS DOMESTIC PRODUCT (GDP) ESTIMATES WITH BASE YEAR 2022-23

Q1. In the context of India's National Accounts Statistics, the 'base year' of a GDP series is best defined as which one of the following?

  • A. The reference year whose prices are held constant to compute real (constant-price) GDP and against which the structure of the economy is benchmarked
  • B. The first year in which the economy returned to positive growth after a recession
  • C. The year in which the fiscal deficit target under the FRBM Act was first fully achieved
  • D. The most recent year for which final, rather than provisional, GDP estimates have been published

Q2. With reference to the National Statistical Office (NSO) and its predecessor bodies, consider the following statements: 1. The NSO was formed in 2019 by merging the Central Statistics Office (CSO) and the National Sample Survey Office (NSSO). 2. Before the merger, the compilation of National Accounts and GDP estimates was the responsibility of the NSSO rather than the CSO. 3. Both the erstwhile CSO and NSSO functioned under the Ministry of Statistics and Programme Implementation. Which of the statements given above is/are correct?

  1. The NSO was formed in 2019 by merging the Central Statistics Office (CSO) and the National Sample Survey Office (NSSO).
  2. Before the merger, the compilation of National Accounts and GDP estimates was the responsibility of the NSSO rather than the CSO.
  3. Both the erstwhile CSO and NSSO functioned under the Ministry of Statistics and Programme Implementation.
  • A. 1 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q3. The compilation and release of the new series of National Accounts estimates with base year 2022-23 is carried out by which one of the following bodies?

  • A. National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation
  • B. Reserve Bank of India
  • C. NITI Aayog
  • D. National Sample Survey Office

Q4. With reference to institutional representation on the Advisory Committee on National Accounts Statistics (ACNAS), consider the following bodies: 1. Reserve Bank of India 2. NITI Aayog 3. Goods and Services Tax Network (GSTN) 4. Securities and Exchange Board of India Which of the above is/are correctly identified as having representation on the committee?

  1. Reserve Bank of India
  2. NITI Aayog
  3. Goods and Services Tax Network (GSTN)
  4. Securities and Exchange Board of India
  • A. 1, 2 and 3
  • B. 1 and 4 only
  • C. 2, 3 and 4
  • D. 1, 2, 3 and 4

Q5. The 2022-23 base-year series released on 27 February 2026 replaced the earlier 2011-12 series, which had been in official use since which one of the following dates?

  • A. 30 January 2015
  • B. 27 June 2024
  • C. 12 February 2026
  • D. 31 January 2010

Q6. Under the new 2022-23 GDP series, which quarter of FY 2025-26 is estimated to have recorded the highest real GDP growth?

  • A. Q1 (April–June)
  • B. Q2 (July–September)
  • C. Q3 (October–December)
  • D. Q4 (January–March)

Q7. With reference to the data sources and rationale of the new 2022-23 GDP series compared with the earlier 2011-12 series, consider the following statements: 1. GSTN data, used in the 2022-23 series, was not available for compilation of the 2011-12 series. 2. The new series adopts an indigenous accounting framework in place of the UN System of National Accounts. 3. The year 2022-23 was chosen as the first post-COVID 'normal' year with robust and comprehensive data. Which of the statements given above is/are correct?

  1. GSTN data, used in the 2022-23 series, was not available for compilation of the 2011-12 series.
  2. The new series adopts an indigenous accounting framework in place of the UN System of National Accounts.
  3. The year 2022-23 was chosen as the first post-COVID 'normal' year with robust and comprehensive data.
  • A. 1 and 2 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q8. The new series of India's national accounts with base year 2022-23 is aligned with which one of the following international statistical standards?

  • A. System of National Accounts (SNA) 2008
  • B. System of National Accounts (SNA) 1993
  • C. IMF Balance of Payments and International Investment Position Manual, 6th edition
  • D. OECD Frascati Manual

Q9. With reference to the coordinated rebasing of India's major statistical indicators, consider the following statements: 1. The rebased Consumer Price Index (CPI) adopts base year 2024. 2. The rebased Index of Industrial Production (IIP) adopts base year 2022-23. 3. The new GDP series and the rebased IIP both adopt base year 2011-12. Which of the statements given above is/are correct?

  1. The rebased Consumer Price Index (CPI) adopts base year 2024.
  2. The rebased Index of Industrial Production (IIP) adopts base year 2022-23.
  3. The new GDP series and the rebased IIP both adopt base year 2011-12.
  • A. 1 and 2 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q10. The 'System of National Accounts (SNA)', with which India's GDP rebasing is aligned, is best described as which one of the following?

  • A. An internationally agreed standard set of recommendations, maintained under UN auspices, on how to compile measures of economic activity
  • B. A treaty binding member states to harmonise their fiscal deficit ceilings
  • C. A database of corporate financial filings maintained by the Ministry of Corporate Affairs
  • D. A United Nations fund that finances statistical capacity-building in developing countries