Question

The agency estimating the national income of India is _____________.
1. Reserve Bank of India
2. Planning Commission
3. Ministry of Finance
4. Central statistical Organisation

Answer 1

Correct Answer - Option 4 : Central statistical Organisation

The correct answer is Central Statistical Organisation.

• The Central Statistical Organization is responsible for estimating national income.

• National income is the value of all the goods and services produced by a country in a year.
• The growth of any economy of a country is an indication of national income.
• From the national income figures, it can be known at what pace the growth of a country is moving.
• Central Statistical Organization works as a bridge between Central Government Departments, State Governments, and International Agencies. 
• The Central Statistics Office (CSO) is under the Ministry of Statistics and Programme Implementation.

• In the first method, it is straightway the national output that is evaluated. 
• In the second method, it is the income accruing from the production and sale of goods and services which is accounted for.
• The third method is the expenditure on these goods and services which is estimated.