Question

    Consider the following Statements and choose the option

    with correct Statements. I- The National Statistical Office (NSO) has released the First Advance Estimates (FAE) of National Income. II- Nominal GDP in the year 2022-23 is estimated at approx. Rs. 550 lakh crore. III- Real GDP in the year 2022-23 is estimated at around Rs 150 lakh crore.
    A Only I Correct Answer Incorrect Answer
    B I & III Correct Answer Incorrect Answer
    C II & III Correct Answer Incorrect Answer
    D Only III Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is releasing in this Press Note the First Advance Estimates (FAE) of National Income at both Constant (2011-12) and Current Prices, for the financial year 2022-23. Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at ₹157.60 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of ₹147.36 lakh crore, released on 31st May, 2022. The growth in real GDP during 2022-23 is estimated at 7.0 per cent as compared to 8.7 per cent in 2021-22. Nominal GDP or GDP at Current Prices in the year 2022-23 is estimated at ₹273.08 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of ₹236.65 lakh crore, released on 31st May, 2022. The growth in nominal GDP during 2022-23 is estimated at 15.4 per cent as compared to 19.5 per cent in 2021-22.

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