Recently the government has changed the calculation method of Nation I

1.	Recently the government has changed the calculation method of Nation Income. Consider the following statements regarding this- 1. GDP at Factor cost and not GDP at Market price will define the GDP of the nation 2. The new series of National Income Accounts has revised the base year from 2004-05 to 2010-11. 3. Individual Industry wise estimate will be presented as Gross Value Added (GVA) at basic prices. 4. IMF and WTO also provide projected growth for India. Which of the above statements is/are incorrect?
Answer» Recently the government has changed the calculation method of Nation Income. Consider the following statements regarding this- 1. GDP at Factor cost and not GDP at Market price will define the GDP of the nation 2. The new series of National Income Accounts has revised the base year from 2004-05 to 2010-11. 3. Individual Industry wise estimate will be presented as Gross Value Added (GVA) at basic prices. 4. IMF and WTO also provide projected growth for India. Which of the above statements is/are incorrect?

Recently the government has changed the calculation method of Nation Income. Consider the following statements regarding this- 1. GDP at Factor cost and not GDP at Market price will define the GDP of the nation 2. The new series of National Income Accounts has revised the base year from 2004-05 to 2010-11. 3. Individual Industry wise estimate will be presented as Gross Value Added (GVA) at basic prices. 4. IMF and WTO also provide projected growth for India. Which of the above statements is/are incorrect?

Answer»

Recently the government has changed the calculation method of Nation Income. Consider the following statements regarding this-

1. GDP at Factor cost and not GDP at Market price will define the GDP of the nation

2. The new series of National Income Accounts has revised the base year from 2004-05 to 2010-11.

3. Individual Industry wise estimate will be presented as Gross Value Added (GVA) at basic prices.