Economics · National Income Accounting
The Central Statistics Office (CSO) revised India's GDP estimation base year to 2011-12. The series introduced changes such as better coverage of the corporate sector and a shift from factor cost to market prices. In this context, which of the following statements are correct? 1. GDP at market prices includes net indirect taxes. 2. This base revision improves comparability with international economic databases. 3. Base year revision helps accurately reflect structural changes in the economy. 4. GDP at factor cost is greater than GDP at market price when net indirect taxes are positive. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3✓
- 21 and 3 only
- 32, 3 and 4
- 41, 2, 3 and 4
Correct answer
1, 2 and 3
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