Question:medium

At which among the following prices, Indian GDP is estimated by the Central Statistical Organisation?
(A) Constant prices
(B) Current prices
(C) Historical prices
Choose the answer from the following choices:

Show Hint

GDP is reported in two standard ways, constant prices and current prices; historical prices is an accounting term, not a GDP measure.
Updated On: Jul 13, 2026
  • A, B
  • A, B and C
  • B, C
  • None of these
Show Solution

The Correct Option is A

Solution and Explanation

Step 1: Understanding the Concept:
GDP can be reported using different price bases. We need to know exactly which bases the CSO uses when it estimates India's GDP.

Step 2: Key Formula or Approach:
There are two standard GDP measures used in national income accounting: GDP at constant prices, which fixes a base year to strip out inflation and show real growth, and GDP at current prices, which uses the prevailing prices of that same year and shows nominal growth. "Historical prices" is a company accounting concept for valuing assets at their original purchase cost, not a way to state national GDP.

Step 3: Detailed Explanation:
Go through choices (A), (B), (C). Choice A, constant prices, is used by the CSO to measure real GDP growth. Choice B, current prices, is used to state the nominal size of the economy in that year's rupees. Choice C, historical prices, belongs to balance sheet accounting for individual firms, not to national GDP reporting, so it should be dropped. This leaves exactly A and B as the valid combination.

Step 4: Final Answer:
The CSO estimates Indian GDP at constant prices and current prices, that is, choices A and B.
\[ \boxed{A, B} \]
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