Question
Download Solution PDFWho is determined by GDP in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Central Statistical Office.
Key Points
- The Central Statistical Office (CSO) is responsible for the calculation of the Gross Domestic Product (GDP) in India.
- GDP is a measure of the economic activity within a country. It represents the total value of all goods and services produced over a specific time period.
- The CSO operates under the Ministry of Statistics and Programme Implementation (MoSPI).
- It employs various statistical methods and surveys to gather data essential for computing GDP.
Additional Information
| Option | Details |
|---|---|
| Ministry of Finance | Responsible for fiscal policy, economic legislation, financial institutions but not directly involved in GDP calculation. |
| Financial Commission | It's actually the Finance Commission, which is concerned with fiscal transfers between the central and state governments, not GDP computation. |
| Standing Committee | These are parliamentary committees for various purposes but do not calculate GDP. |
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