Economics · Economy
Consider the following statements regarding national accounts estimation in India: Statement I: The national accounts GDP series relies on retaining older benchmark survey extrapolations without incorporating recent administrative data updates. Statement II: National accounts methodologies incorporate Goods and Services Tax (GST) data and use improved activity-wise revenue allocation to estimate Gross Value Added (GVA). Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, and Statement II is incorrect.
- 2Statement I is incorrect, but Statement II is correct.✓
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is incorrect, but Statement II is correct.
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