Question
Who prepared the first estimate of National Income for the country ?
Answer: Option A
Answer: (a)
Dadabhai Naoroji prepared the first estimates of National income in 1876. He estimated the national income by first estimating the value of agricultural production and then adding a certain percentage as nonagricultural production.
However, such a method can only be called a non-scientific method. The first person to adopt a scientific procedure in estimating the national income was Dr VKRV Rao in 1931.
Was this answer helpful ?
Answer: (a)
Dadabhai Naoroji prepared the first estimates of National income in 1876. He estimated the national income by first estimating the value of agricultural production and then adding a certain percentage as nonagricultural production.
However, such a method can only be called a non-scientific method. The first person to adopt a scientific procedure in estimating the national income was Dr VKRV Rao in 1931.
Was this answer helpful ?
More Questions on This Topic :
Question 1. Gross National Product means....
Question 6. Liquidity Preference means
....
Question 7. Average propensity to consume is defined as
....
Question 8. What is needed for creating demand ?
....
Question 9. Internal economies
....
Submit Solution