I am looking at GDP in current prices for Indian states and there are multiple base years. This is confusing because GDP in current prices is supposed to be reported in the value of the currency for that particular year. So why are there multiple base years?
Here is an illustration of how the data are presented (this is coming from the Reserve Bank of India, source is Central Stats Office)
Base Year: 2004-05
Year: 2011-12, 2012-13, 2013-14, 2014-15
GDP: 36224493, 41006812, 46418355, 52002992
Base Year: 2011-12
Year: 2011-12, 2012-13, 2013-14, 2014-15
GDP: 37940203, 41140371, 46427154, 52646842
This is for norminal GDP. Again why is there base years when we are looking at nominal GDP (data for each year should use value of the currency for that particular year) Really appreciate any clarification.