Economics · GDP
Consider the following statements regarding the revision of the GDP base year in India: Statement I: Revisions in GDP base year aim to provide a clearer and updated picture of the economy by incorporating new data sources and sectoral weightage. Statement II: The new GDP base year will shift from 2011–12 to 2022–23, with release scheduled for February 27, 2026. Statement III: The revision of base years for GDP is always aligned with changes in the Consumer Price Index (CPI) and Industrial Production (IIP) base years. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither Statement II nor Statement III is correct.✓
- 2Only one of the Statements II and III is correct, and that explains Statement I.
- 3Both Statement II and Statement III are correct, but only one of them explains Statement I.
- 4Both Statement II and Statement III are correct, and both of them explain Statement I.
Correct answer
Neither Statement II nor Statement III is correct.
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