UPSC Prelims Practice Questions — QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER (APRIL-JUNE) OF 2026-27

Q1. Under the release practice followed by the National Statistics Office for national accounts, how many quarterly GDP press notes pertaining to a given financial year are issued before that financial year's Provisional Estimates of annual GDP are put out?

  • A. Two
  • B. Three
  • C. Four
  • D. Five

Q2. The methodology used for compiling India's national accounts macro-aggregates is deliberated in detail by which one of the following, whose membership is drawn from academia, the Indian Statistical Institute, the Reserve Bank of India and central ministries?

  • A. The Advisory Committee on National Accounts Statistics
  • B. The Standing Committee on Economic Statistics
  • C. The Technical Advisory Committee on Statistics of Prices and Cost of Living
  • D. The National Sample Survey Steering Committee on Economic Surveys

Q3. Which one of the following was the principal consideration cited by the Ministry of Statistics and Programme Implementation for selecting 2022-23 as the base year of the new national accounts series?

  • A. It was a recent normal year after the pandemic, with robust and comprehensive data available across sectors of the economy
  • B. It was the first year in which every sector of the economy was entirely covered by GST-based administrative records, eliminating all survey-based estimation
  • C. It was the year in which the System of National Accounts, 2008 was universally implemented by all United Nations member states without exception
  • D. It was the only year in the preceding decade in which nominal and real growth rates converged exactly, making deflators unnecessary

Q4. Consider the following statements regarding the new series of national accounts estimates with base year 2022-23: 1. It replaced the series that had 2011-12 as its base year. 2. The 2011-12 base year series that it replaced had itself been released in January 2015, superseding the 2004-05 series. 3. GDP for the base year 2022-23 has been estimated at about Rs 261 lakh crore. 4. The back series consistent with the new base year was released together with the new series in February 2026. Which of the above is/are NOT correct?

  1. It replaced the series that had 2011-12 as its base year.
  2. The 2011-12 base year series that it replaced had itself been released in January 2015, superseding the 2004-05 series.
  3. GDP for the base year 2022-23 has been estimated at about Rs 261 lakh crore.
  4. The back series consistent with the new base year was released together with the new series in February 2026.
  • A. 1 and 3
  • B. 2 and 4
  • C. 1, 2 and 4
  • D. 4 only

Q5. The estimate of 7.8 per cent real GDP growth for the April-June quarter of 2026-27, released on 31 August 2026, was compiled and put out by which one of the following?

  • A. The National Statistics Office under the Ministry of Statistics and Programme Implementation
  • B. The Economic Division of the Department of Economic Affairs, Ministry of Finance
  • C. The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry
  • D. The Department of Economic and Policy Research of the Reserve Bank of India

Q6. By approximately how many percentage points did the reported real GDP growth for the April-June quarter of 2026-27 exceed the real GDP growth rate that the Reserve Bank of India had projected for the financial year 2026-27 in its August 2026 monetary policy statement?

  • A. About 0.6 percentage points
  • B. About 0.9 percentage points
  • C. About 1.1 percentage points
  • D. About 1.4 percentage points

Q7. In the annual sequence of national accounts releases, the quarterly estimates for the fourth quarter (January-March) of a financial year first appear in which one of the following releases?

  • A. The Provisional Estimates of annual GDP released at the end of May
  • B. The Second Advance Estimates released at the end of February
  • C. The First Revised Estimates released at the end of February
  • D. The First Advance Estimates released in the first week of January

Q8. In India's national accounts calendar, the term 'First Revised Estimates' refers precisely to which one of the following?

  • A. The first revision of the previous financial year's annual accounts, released at the end of February on a fuller set of annual data
  • B. The first revision of the current financial year's quarterly accounts, released about two months after each quarter closes
  • C. The first revision carried out whenever the base year is changed, applied to the accounts of the newly adopted base year
  • D. The first revision of state-level accounts, released after the states' own budget actuals are received by the Centre

Q9. India adopted the present framework in which Gross Value Added at basic prices and GDP at market prices are presented as distinct headline aggregates when its sources and methods were aligned with which one of the following international standards?

  • A. The System of National Accounts, 2008
  • B. The System of National Accounts, 1993
  • C. The IMF's Government Finance Statistics Manual, 2014
  • D. The IMF's Balance of Payments and International Investment Position Manual, sixth edition

Q10. In India's quarterly national accounts, GDP at market prices is arrived at from Gross Value Added at basic prices by making which one of the following adjustments?

  • A. Adding taxes on products and deducting subsidies on products
  • B. Adding net factor income from abroad, as compiled by the Reserve Bank of India
  • C. Adding all taxes on production and on products and deducting consumption of fixed capital
  • D. Adding customs and excise collections reported by the Central Board of Indirect Taxes and Customs and deducting the food subsidy

Q11. Among the following sectors, which one recorded the highest year-on-year real growth in the April-June quarter of 2026-27?

  • A. Manufacturing
  • B. Financial, real estate and professional services
  • C. Agriculture, livestock, forestry and fishing
  • D. Trade, hotels, transport, communication and services related to broadcasting

Q12. With reference to India's standing among major economies in 2026 as assessed by international financial institutions, which one of the following statements is correct?

  • A. India remains among the fastest-growing major economies, while China's growth for 2026 is projected to slow to about 4.6 per cent
  • B. India is the only major economy anywhere in the world projected to record growth above 4 per cent during the calendar year 2026
  • C. India's growth outlook for 2026 is assessed as entirely insulated from the effects of the Middle East conflict and higher global oil prices
  • D. India's position as the fastest-growing major economy is now permanent, since every other large economy is projected to contract in 2026