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What is a base year ? Which points should be considered while choosing it?

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A fixed period with which the value of a variable for the current period is compared, is called base year.

The following points should be considered while choosing it:

  • The base year should be standard or normal.
  • It should be free from natural calamities like floods, draught, earthquake, abnormal man-made events like war, revolt, riot, strike, agitation, political events, economic disturbances, etc.
  • It should not be from a distant past.
  • It should be so selected that reveal the realistic picture of the current situation.
  • If a single period is not normal then it should be selected as the average of some past periods.

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