Who among the following headed the National Income Committee?

The correct answer is P.C. Mahalanobis.

Key Points:

The National Income Committee, 1949

• After independence in August 1949, the government of India established the National Income Committee to compute the national income of the economy.
• Prof. P.C. Mahalanobis was the chairperson of the National Income Committee.
• Prof. D.R. Gadgil and Dr. V.K.R.V. Rao were also one of the members of this committee.
• The first report of the committee was presented in the year 1951.
• According to the first report, the national income of India for the year 1948-49 was Rs. 8,710 crores and the per capita income was Rs. 225.

Thus, the first official attempt to calculate the national Income of India in 1949 was made by National Income Committee that was headed by Prof. P.C. Mahalanobis.

Additional Information:The Central Statistical Organisation (CSO)

• Since the year 1955, the national income estimates for India are being prepared by Central Statistical Organisation.
• The CSO uses different methods, i.e., product method, income method, and expenditure method to estimate the national income for different sectors of the economy.