National Income Computation Authority in India
The entity responsible for the computation of National Income in India is the Central Statistical Organisation (CSO).
The CSO, which is now integrated into the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation, compiles key national accounts statistics, including the National Income.
Reasoning for other options:
- NITI Aayog: Primarily a policy think tank and facilitator, not involved in direct computation.
- National Sample Survey Office (NSSO): Historically conducted large-scale socio-economic surveys for data collection; now merged with CSO into NSO.
- Ministry of Finance: Focuses on fiscal policy, budget, and economic management, not the primary statistical computation.
Therefore, the CSO is the designated authority for computing National Income.
Similar Questions
- The value of the gross investment in order to accommodate regular wear and tear of capital is called:
- Which of the following sectors contribute the most to GDP in India?
- Deduction of depreciation from Gross National Product is known as:
- As per estimates by NSO, India's GDP is estimated to grow by ______ in FY21.
- We should consider the value of final goods only while estimating GDP because:
- Equilibrium national income occurs where aggregate supply ________
- Which of the following is the correct full form of GDFCF?
- Gross Domestic Production is the total value of:
Which of the following economic models formed the basis of the Second Five-Year Plan?
Important Questions from National Income Accounting
Division of labour often involves
1. specialized economic activity.
2. highly distinct productive roles.
3. involving everyone in many of the same activities.
4. individuals engage in only a single activity and are dependent on others to meet their various needs.
Select the correct answer using the code given below:
Which of the following is NOT one of the methods of national income estimation?
Cash Reserve Ratio (CRR) is calculated as a percentage of each bank's _____.
What do you call a proportionate saving in costs gained by an increased level of production?
Which of the following statements is/are correct?
I. Only marketed goods and considered while estimating Gross Domestic Product (GDP).
II. The work done by a woman at her home is outside the purview of Gross Domestic Product.
III. In estimating GDP, only final goods and services are considered.
