With reference to Indian economy, consider the following statements : 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?

Gives a clear example and rule: real GDP level can rise steadily while the percentage change (growth rate) falls (11.2% → 4.6%).

A student could apply this distinction to 2005–2014 year‑by‑year data to check whether growth rates rose or fell even if output levels rose.

Provides a numeric example where real GDP increases across years but growth rates decline (8%, 3.7%, 2.7%), illustrating a growth‑slowdown pattern.

Compare the 2005–2014 sequence of annual growth rates to see if they show a similar monotonic rise or the opposite slowdown.

Notes a change in GDP computation methodology around 2015 (factor cost → market prices), signalling that measurement conventions may affect comparability across periods.

When examining 2005–2014 growth rates, ensure the student uses consistently computed series (or adjusts for methodological breaks) before judging steadiness.

Shows this exact proposition appears as an exam-style statement ('The rate of growth of Real GDP has steadily increased in the last decade'), implying it is a commonly questioned/contestable claim.

Use the hint that the claim is contested to motivate checking actual year‑wise growth figures for 2005–2014 rather than assuming it true.

Another past-question framing the proposition for a five‑year period, indicating test writers treat 'steady increase in growth rate' as a distinct, checkable property.

Extend the same approach used for five‑year checks to the full 2005–2014 period: obtain annual growth rates and test if each year exceeds the previous.

Gives an example where Real GDP was steadily increasing over several years and explicitly states 'same is true for nominal GDP also' (i.e., level can rise even if growth rates fall).

A student could use this pattern to infer that checking year-by-year nominal GDP levels (not growth rates) from official series would test whether levels rose every year 2005–2014.

Contains an exam question that explicitly asks whether 'The GDP at MP (in rupees) has steadily increased in the last decade', showing this is a commonly debated/checked factual claim about decadal nominal series.

A student could take this prompt as guidance to look up the official annual nominal GDP (MP, rupees) time series for the relevant decade to verify year-on-year increases.

Explains that prior to 2015 NSO used factor cost rather than market prices and that methodology was changed in 2015 to align with market-price reporting.

A student should therefore be cautious about pre-2015 series comparability and seek the correct (market-price) series or apply adjustments when assembling 2005–2014 nominal MP data.

Defines GDP at market price (GDP_MP) and its relation to GDP at factor cost (GDP_MP = GDP_FC + indirect taxes - subsidies), clarifying what 'GDP at market prices in rupees' refers to.

Using this definition, a student can ensure they retrieve the exact series (GDP at MP) rather than factor-cost or GVA series when checking year-by-year levels 2005–2014.

Notes that CSO reported GDP at factor cost and at market prices and that in the January 2015 revision GVA at basic prices replaced GDP at factor cost, highlighting revisions and label changes around 2015.

A student should account for statistical revisions (and possible rebasing) when assembling a consistent nominal MP series across 2005–2014 and prefer the official GDP-at-market-prices series post any revision.