Skip to content
GK24
EconomyMedium

Which office released the draft guideline for expenditure-side GSDP estimates?

  1. A.NITI Aayog
  2. B.National Statistics Office
  3. C.Reserve Bank of India
  4. D.Finance Commission

Correct answer

B. National Statistics Office

Explanation

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.

Read the full article: NSO Releases Draft Guideline for Expenditure-Side GSDP

Q1.EconomyEasy

What is the base year used in the draft guideline for compiling Gross State Domestic Product estimates by the expenditure approach?

  1. A.2011-12
  2. B.2017-18
  3. C.2022-23
  4. D.2024-25
Show answer
Correct answer: C. 2022-23

Explanation

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.

Q2.EconomyMedium

Which expenditure component is at present not compiled by any State or Union Territory, according to the release?

  1. A.Gross Fixed Capital Formation
  2. B.Government Final Consumption Expenditure
  3. C.Private Final Consumption Expenditure
  4. D.Net exports
Show answer
Correct answer: C. Private Final Consumption Expenditure

Explanation

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.

Q3.EconomyHard

By which date must registration, the technical bid and the earnest money for the auction be submitted?

  1. A.29 October 2026
  2. B.3 November 2026
  3. C.19 November 2026
  4. D.23 November 2026
Show answer
Correct answer: C. 19 November 2026

Explanation

The correct answer is 19 November 2026. Registration, the technical bid and the earnest money or bank guarantee have all to reach the corporation by that date, after which the technical bids are opened on 20 November 2026. Option A, 29 October 2026, is the last date for sending queries about the auction, not for the bid itself. Option B, 3 November 2026, is the day fixed for the pre-bid meeting in New Delhi, where prospective bidders can have the process explained to them. Option D, 23 November 2026, is the date of the mock auction, a trial run held before the real bidding; the e-auction date is to be announced only after the technical bids have been opened. Keeping this calendar in order is the point of the question, since all four dates belong to the same auction and are easily confused with one another.

Q4.EconomyMedium

What is the approximate area of the land parcel being monetised?

  1. A.2.119 acres
  2. B.5.119 acres
  3. C.15.119 acres
  4. D.51.19 acres
Show answer
Correct answer: B. 5.119 acres

Explanation

The correct answer is 5.119 acres, which works out to about 20,722.93 square metres. The parcel carries an industrial land use and is being offered for outright sale through an e-tender followed by an e-auction. The release makes clear that the area is provisional and indicative, and that the exact extent will be fixed through a joint survey conducted with the successful bidder, so the figure should be remembered along with that qualification. Option A, option C and option D are built by changing one digit or shifting the decimal point, which is exactly how such distractors are framed in objective papers. Candidates should therefore link the plot with its two paired measures, the acreage and the figure in square metres, and keep in mind that the sale is on an as-is-where-is basis with no recourse to the seller.

Q5.EconomyMedium

The National Land Monetization Corporation functions under which department?

  1. A.Department of Public Enterprises, Ministry of Finance
  2. B.Department of Land Resources, Ministry of Rural Development
  3. C.Department for Promotion of Industry and Internal Trade
  4. D.Department of Expenditure, Ministry of Home Affairs
Show answer
Correct answer: A. Department of Public Enterprises, Ministry of Finance

Explanation

The correct answer is the Department of Public Enterprises in the Ministry of Finance. NLMC was set up to help central public sector enterprises and other government entities monetise surplus land and non-core assets, and it sits in that department. In the present case it is facilitating the sale on behalf of HIL (India) Limited, which owns the plot. Option B names the Department of Land Resources, which works on land records and watershed programmes under the Ministry of Rural Development and has no role in monetising enterprise assets. Option C, the Department for Promotion of Industry and Internal Trade, deals with industrial policy and foreign direct investment questions. Option D pairs the Department of Expenditure with the wrong ministry altogether, since that department belongs to the Ministry of Finance and not to Home Affairs. Candidates should remember the chain: NLMC, Department of Public Enterprises, Ministry of Finance.