What is Base Year. Distinguish between Fixed Base Method and Chain Base Method.

3 years ago

Ans.: Base year is such a year with which the changes in the current year are compared. Base year should be normal year from every aspect and it should not be affected by war, famines, inflation etc.

Base year should not be too old. The index for base period is always taken as 100.

In fixed base method, the year selected for construction of index numbers remains constant for all times and the base shall remain fixed.

While in chain base method the base year is changed every year, generally preceding year and not fixed year.

Surya Bikram Bhandari

Nov 14, 2021

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What is Base Year. Distinguish between Fixed Base Method and Chain Base Method.

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