The new Gross Domestic Product (GDP) series released by the Central Statistical Organisation (CSO) in February 1999 is with reference to base price of
- A1991-92
- B1992-93
- C1993-94Correct
- D1994-95
Explanation
The correct answer is C because the Central Statistical Organisation periodically shifts the base year for national accounts to better reflect the changing structure of the economy. In February 1999, the CSO replaced the old 1980-81 series with a new series using 1993-94 as the base year. This shift was based on the recommendations of the National Accounts Statistics to incorporate more recent data on consumption and production patterns. Since then, the base year has been revised several more times, moving to 1999-2000, then 2004-05, and currently stands at 2011-12.
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