| Consider the following statements: |
| 1. Dadabhai Naoroji was the first Indian to estimate the national income of the country. |
| 2. National Income Committee established in India after getting Independence was headed by Professor VKRV Rao. Which of the statements given above is/are correct? |
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: A
Solution :
[a] In 1949, soon after the establishment of independent India, the National Income Committee (NIC) was formed to compile statistics and estimate national income. The committee was headed by PC. Maharanobis and included D.R. Gadgil and V.K.N.V. Rao. Assisting the NIC was the "National Income Unit (NIU), directed to prepare estimates of national income every year. The NIU was under the jurisdiction of the Ministry of Finance, later changed to the Central Statistical Organisation.
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