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      Question

      According to theย  the new GDP series, which deflation

      method will replace the existing system in Indiaโ€™s GDP calculations?
      A Chain deflation Correct Answer Incorrect Answer
      B Implicit price deflation Correct Answer Incorrect Answer
      C Single deflation Correct Answer Incorrect Answer
      D Double deflation Correct Answer Incorrect Answer
      E Base-year deflation Correct Answer Incorrect Answer

      Solution

      Theย  the new GDP series states that India will replace the current single deflation system with double deflation, under which gross output and intermediate inputs are deflated separately to improve accuracy in GDP estimates, especially for the informal sector.

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