Economics · National Income Accounting
With reference to the revision of the GDP base year in national income accounting in India, consider the following statements: I. Updating the base year helps incorporate structural transformations in the economy, including changes in sectoral composition and production patterns. II. One of the objectives of revising the base year is to artificially increase the GDP estimates in order to improve fiscal indicators. III. Such revisions aim to align national income estimation with updated international statistical standards and methodological guidelines recommended by global bodies such as the UN Statistical Commission. IV. Revising the base year also enables the estimates to capture changes in consumption patterns and expenditure behaviour of households. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, III and IV only✓
- 2I and IV only
- 3II and III only
- 4I, II, III and IV
Correct answer
I, III and IV 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