Question
After the rebasing of Indiaās GDP series from 2004-05 to 2011-12 base year, which of the following changes was observed?
Solution
Key changes under 2011-12 rebasing: ā¢ Private consumption share ROSE; investment (GFCF) share FELL ā reversed the earlier āIndia is investment-ledā narrative. ā¢ GDP growth for some years (notably 2013-14) was revised upward sharply, triggering methodological controversy. ā¢ Services sector share expanded under GVA at basic prices methodology. ā¢ Agricultureās share did NOT increase substantially. Option (D) directly contradicts the observed consumption-investment shift.
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