Economics · Economy
Consider the following statements: Statement I: The National Statistical Office periodically revises the base year of national accounts to reflect structural changes in the economy. Statement II: The revised GDP series with base year 2022-23 shows that the absolute size of India's GDP increased significantly compared to the earlier 2011-12 base year series. Statement III: The base year revision automatically eliminates all methodological concerns raised by institutions such as the International Monetary Fund regarding the reliability of India's GDP estimates. 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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