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Consider the following statements:
1. In recent times, India has been more of a giver than a receiver of external grants.
2. Net National Product (NNP) is derived by subtracting depreciation from Gross Domestic Product (GDP).
3. The Central Statistics Office (CSO) revised the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    1 and 2 Only
  • c)
    1 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements:1. In recent times, India has been ...
1. Statement 1: This statement is correct. The text mentions that India has become more of a giver than a receiver of external grants, aligning with its increased participation in international economic diplomacy and commitment to developmental and humanitarian assistance.
2. Statement 2: This statement is incorrect. Net National Product (NNP) is derived by subtracting depreciation from Gross National Product (GNP), not from GDP. The correct formula for NNP is NNP = GNP - Depreciation.
3. Statement 3: This statement is correct. The Central Statistics Office (CSO) indeed revised the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015 following the recommendation of the National Statistical Commission (NSC).
Given the above analysis, the correct answer is Option C.
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Community Answer
Consider the following statements:1. In recent times, India has been ...
Analysis of Statements
To determine the correctness of the statements, let’s analyze each one individually.
Statement 1: India as a Giver of External Grants
- In recent years, India has indeed taken on a more significant role in providing grants and aid to other countries, particularly in South Asia and Africa.
- This shift reflects India's growing economic stature and its commitment to enhancing bilateral relations and regional stability.
Thus, Statement 1 is correct.
Statement 2: Net National Product (NNP) Calculation
- NNP is calculated by subtracting depreciation from Gross National Product (GNP), not Gross Domestic Product (GDP).
- GNP accounts for the total value of goods and services produced by a country's residents, regardless of location, while GDP focuses on the production within the country's borders.
Thus, Statement 2 is incorrect.
Statement 3: Revision of Base Year for National Accounts
- The Central Statistics Office (CSO) did revise the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015.
- This revision aimed to provide a more accurate reflection of the economy by incorporating updated data and methodologies.
Thus, Statement 3 is correct.
Conclusion
After analyzing the statements:
- Correct Statements: 1 and 3
- Incorrect Statement: 2
The correct answer is option C (1 and 3 only).
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Consider the following statements:1. In recent times, India has been more of a giver than a receiver of external grants.2. Net National Product (NNP) is derived by subtracting depreciation from Gross Domestic Product (GDP).3. The Central Statistics Office (CSO) revised the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. In recent times, India has been more of a giver than a receiver of external grants.2. Net National Product (NNP) is derived by subtracting depreciation from Gross Domestic Product (GDP).3. The Central Statistics Office (CSO) revised the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. In recent times, India has been more of a giver than a receiver of external grants.2. Net National Product (NNP) is derived by subtracting depreciation from Gross Domestic Product (GDP).3. The Central Statistics Office (CSO) revised the base year for calculating national accounts from 2004-05 to 2011-12 in January 2015.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
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