SSC Stenographer 2026 PYQ — Question 45

Solution: The correct answer is GDP.
Explanation:
☛ Gross Domestic Product (GDP) is the primary macroeconomic indicator used to measure the total monetary or market value of all final goods and services produced within the geographical boundaries of a country during a specific period (usually a financial year).
☛ It reflects the economic health and size of a country's economy.
☛ In India, GDP estimates are compiled and released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI).
☛ Nominal GDP is evaluated at current market prices, whereas Real GDP is adjusted for inflation and measured at constant base year prices.
Extra Exam-Relevant Facts:
☛ GNP (Gross National Product): It measures the total economic output produced by the citizens of a country, regardless of location, calculated as GDP + Net Factor Income from Abroad (NFIA).
☛ NSDP (Net State Domestic Product): It represents the net value of goods and services produced within a state after deducting depreciation from the Gross State Domestic Product (GSDP).
☛ CPI (Consumer Price Index): It is a key macroeconomic metric used to measure retail inflation by tracking price changes of a representative basket of consumer goods and services.
☛ The current base year for calculating national accounts (including GDP) in India is 2011–12.
Important One-Liners for Upcoming Exams:
☛ Who first developed the modern concept of GDP in 1934? → Simon Kuznets
☛ Which formula is used to calculate Net Domestic Product (NDP)? → GDP − Depreciation
☛ Which agency releases national income estimates in India? → National Statistical Office (NSO)
☛ What is added to GDP to derive Gross National Product (GNP)? → Net Factor Income from Abroad (NFIA)
☛ Which index is primarily used by the RBI to target inflation? → Consumer Price Index (CPI - Combined)