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What was a significant change introduced during the last revision of the GDP series in India in 2011-12?
  • a)
    The introduction of a new base year for GDP estimation.
  • b)
    The replacement of the MCA-21 database with ASI data.
  • c)
    The use of the Annual Survey of Industries for all sectors.
  • d)
    The incorporation of bank credit growth data into GDP calculations.
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
What was a significant change introduced during the last revision of t...
A major change during the last revision of the GDP series in 2011-12 was the introduction of a new base year for GDP estimation. The base year was updated to 2011-12, which aimed to provide a more accurate reflection of economic conditions by utilizing more recent and relevant data. This change was important for ensuring that GDP estimates better represented the actual economic output and growth trends in the country.
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What was a significant change introduced during the last revision of the GDP series in India in 2011-12?a) The introduction of a new base year for GDP estimation.b) The replacement of the MCA-21 database with ASI data.c) The use of the Annual Survey of Industries for all sectors.d) The incorporation of bank credit growth data into GDP calculations.Correct answer is option 'A'. Can you explain this answer? for CUET Commerce 2025 is part of CUET Commerce preparation. The Question and answers have been prepared according to the CUET Commerce exam syllabus. Information about What was a significant change introduced during the last revision of the GDP series in India in 2011-12?a) The introduction of a new base year for GDP estimation.b) The replacement of the MCA-21 database with ASI data.c) The use of the Annual Survey of Industries for all sectors.d) The incorporation of bank credit growth data into GDP calculations.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CUET Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What was a significant change introduced during the last revision of the GDP series in India in 2011-12?a) The introduction of a new base year for GDP estimation.b) The replacement of the MCA-21 database with ASI data.c) The use of the Annual Survey of Industries for all sectors.d) The incorporation of bank credit growth data into GDP calculations.Correct answer is option 'A'. Can you explain this answer?.
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