NSO Releases Draft Guideline for Expenditure-Side GSDP

The correct answer is 2022-23. The National Statistics Office has prepared the draft guideline for compiling Gross State Domestic Product estimates from the expenditure side with 2022-23 as the base year, and the whole framework is described as working under the revised base year arrangement. Options A, B and D are wrong because the release names only one base year for this exercise and it is not any of these; they are offered as plausible distractors drawn from the way base years are usually revised. For the examination, hold three things together: the body that issued the document (the National Statistics Office), the ministry it belongs to (Statistics and Programme Implementation) and the base year 2022-23. Also note that comments from stakeholders were invited until 28 October 2026 through the ministry website.

The correct answer is Private Final Consumption Expenditure, usually shortened to PFCE. The release states plainly that while some States and Union Territories do put together estimates of Gross Fixed Capital Formation and Government Final Consumption Expenditure, no State or Union Territory is compiling PFCE at present. That is why options A and B are wrong. Option D is wrong because net exports is listed as one of the components the framework covers, not as the component singled out as missing everywhere. The draft guideline therefore supplies the concepts, coverage, data sources and estimation methods needed to build these components at the State level, and recommends allocation methods and indicators wherever direct State-level data are not available. Remember also that the draft guideline works with 2022-23 as the base year and that stakeholders were asked to send their comments by 28 October 2026 through the official website of the Ministry of Statistics and Programme Implementation, while the compilation itself will rest with the State Directorates of Economics and Statistics.

The correct answer is the National Statistics Office, which functions under the Ministry of Statistics and Programme Implementation. It prepared and released the draft guideline for compiling Gross State Domestic Product estimates from the expenditure side and placed the document on the ministry website for wider dissemination and feedback. Option A is wrong because NITI Aayog is the government’s policy think tank and does not compile national accounts. Option C is wrong because the Reserve Bank of India is the central bank and monetary authority, though it publishes State finance studies of its own. Option D is wrong because the Finance Commission recommends the sharing of taxes between the Union and the States. The actual compilation work under the new guideline will be done by the State Directorates of Economics and Statistics.