A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (a) 1 only
Explanation
Statement 1 is correct since the base year for the updated GDP series is set at 2022-23. Statement 2 is incorrect because double deflation involves deflating output and intermediate consumption separately, not combining them into a single nominal value beforehand.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2023 · Q11 · GS III · 15 marks
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2021 · Q1 · GS III · 10 marks
Explain the difference between computing methodology of India's Gross Domestic Product (GDP) before the year 2015 and after the year 2015. -
2016 · Q43 · General Studies · 2 marks
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