Economy PYQ 1 of 50 · Basic Concepts and National Income

The base years for GDP, CPI and IIP have been revised to the following:

  1. A2022-23, 2022-23, 2023-24 respectively
  2. B2023-24, 2024-25, 2022-23 respectively
  3. C2023-24, 2022-23, 2022-23 respectively
  4. D2022-23, 2023-24, 2022-23 respectively

BPSC Assistant Section Officer Prelims 2025

Show answer and explanation

Correct answer: (d) 2022-23, 2023-24, 2022-23 respectively

Explanation

The Ministry of Statistics and Programme Implementation (MoSPI) has revised the base years of its main economic series:

  • GDP (national accounts): from 2011-12 to 2022-23;
  • IIP (Index of Industrial Production): from 2011-12 to 2022-23;
  • CPI (Consumer Price Index): from 2012 to 2024, with the basket and weights drawn from the Household Consumption Expenditure Survey of 2023-24.

Only option (d) gives 2022-23 for both GDP and IIP; its 2023-24 for the CPI refers to the survey year on which the new CPI is built.

Practise this questionAll 50 Economy PYQs