Till now, 2011-12 has been a choppy year with a slowdown in growth and high inflation.government, engineering an economic rebound with a slew of reforms, on Friday unveiled a new statistical method to calculate the national income with a broader framework that turned up a pleasant surprise: GDP in the past year 2013-14 grew 6.9% instead of the earlier 4.7%.Note _ ** with in upcoming 5 years the indian gdp will be around 9%GDP_ Gross Domestic Product, is the measure of a country’s economic growth.The new series, it said, will also affect a wide range of indicators like trends in public expenditure, taxes and public sector debt that are conventionally analysed in terms of their ratios to nominal GDP. Advance estimates of national income for FY’15 with the new base year are likely to be released in this week. Suppose India’s GDP is Rs. This video is unavailable. However, the release said, the level of revision in the present base revision “is not large enough to affect any of these ratios significantly. The ministry is considering 2017-18 as the new base year; the current base year for the GDP is 2011-12. Watch Queue Queue. Choose your reason below and click on the Report button. Since then there have been seven changes, including the latest one, in which the base year of national accounts was changed from FY ’05 to FY ’12. national income questions and answers The national dividend is that part of the commodity including of course income derived from abroad which can be measured in money. The first national income estimates published in 1956 took FY ’49 as the base year. Crisil explainsPandemic knocks Singapore into recession as GDP plummets 41% in second quarterA provision should be made to refer any convenient year as ''Base Year'' for calculating GDP.Choose the worst year so that on paper the GDP will always grow, the only way to show growth is to manipulate and forge the figures.Actor Akshay Kumar is the chairman of this committee. The change in the base year of the GDP series is considered to be very important, as the other two major data series, IIP and WPI, are also expected to be changed to the same base year. Income from work done without remuneration like domestic work by housewives. GDP of any of the previous years is chosen as the intial GDP and the eyar that is chosen is known as the base year.
“There is a need to change the base year for GDP to 2017-18 and for CPI to 2018. A base year is the year used for comparison for the level of a particular economic index.
The Statistics Ministry is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and … *By every 10 years there is change will be minimum 4% rise in price of items so base year has to be changed .now it has been changed now in 2015 — the IT ,economy ,infra ,e-commerce are contributed more to base year need changeThe govt of india will also coincide with other surveys that act as inputs in assigning weights in the National Income Accounts. The base year for computation of National Income in India is. Related Questions. A) 1990 - 91: B) 1993 - 94: C) 1999 - 2000: D) 2000 - 01: Answer: B) 1993 - 94 Explanation: Subject: Indian Economy. The arbitrary level of 100 is selected so that percentage changes (either rising or falling) can be easily depicted. Now, in 2015, many sectors such as IT, e-commerce, mobile telephony etc contributes to our economy, which were not present in 2000. In 2011-12, the five-yearly survey on employment and consumer expenditure will be repeated. Watch Queue Queue
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