Economics · National Income Accounting
Consider the following statements about India's National Income accounting and growth performance: I. India shifted its base year for National Accounts from 2004–05 to 2011–12 in January 2015. II. India overtook the UK to become the fifth largest economy by nominal GDP in 2022. III. The Indian economy contracted in FY 2020–21 due to the COVID-19 pandemic. IV. Gross Value Added (GVA) at basic prices equals GDP at market prices plus subsidies on products minus taxes on products. Which of the statements given above are CORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II, III, and IV
- 2I, II, and III only✓
- 3I and IV only
- 4II, III, and IV only
Correct answer
I, II, and III only
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice National Income Accounting MCQs →Want more practice questions on National Income Accounting?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · National Income Accounting