MoS&PI Notifies 2022-23 as the New Base Year for State GDP Calculations
This replaces the decade-old base year of 2011-12 currently used by 34 States and Union Territories.
The move is intended to capture more recent economic activities and price changes to reflect a more accurate picture of regional economies.
Exceptions: Lakshadweep and Dadra and Nagar Haveli & Daman and Diu are currently excluded from this update.
Key Facts / Static GK
NSO: National Statistics Office
GSVA: Gross State Value Added
Previous Base Year: 2011-12
Q Practice Quiz — 11 May 2026
1. Regarding the Jan Suraksha schemes, which of the following statements is/are correct as of May 2026?
Explanation: Statement B is correct as PMSBY has 58.09 crore enrolments. Statement A is incorrect (launched in 2015). Statement C is incorrect (APY entry age is 18-40). Statement D is incorrect (PMJJBY coverage is ₹2 lakh).
2. Where will the new GaN-based semiconductor fabrication facility by Crystal Matrix Ltd be located?
Explanation: Crystal Matrix Ltd will set up its GaN (Gallium Nitride) based semiconductor fabrication facility in Dholera, Gujarat.
3. What is the new Fair and Remunerative Price (FRP) for sugarcane approved for the 2026-27 season?
Explanation: The CCEA has approved a new FRP of ₹365 per quintal for the 2026-27 season, up from ₹355.
4. Which of the following represents the '5F' vision under the newly launched Mission for Cotton Productivity?
Explanation: The 5F vision stands for Farm → Fibre → Factory → Fashion → Foreign.
5. What is the maximum credit guarantee percentage provided to MSMEs under the ECLGS 5.0 scheme?
Explanation: Under ECLGS 5.0, MSMEs are eligible for a 100% credit guarantee, while non-MSMEs and airlines receive a 90% guarantee.
Keep Learning with PrepZen
Get daily current affairs, live mock tests, mistake bank, vocab builder & more — all free on your phone.