BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Only 1
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Only 2
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Both 1 and 2
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Neither 1 nor 2
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Detailed explanation-1: -Dadabhai Naoroji was a pioneer in this field. He estimated the agricultural production in the country and then a certain percentage was added as non-agricultural production to determine national income in 1876. The scientific method to estimate national income was adopted in 1931 by VKRV Rao.
Detailed explanation-2: -The first attempt to calculate the national income of India was made by Dadabhai Naoroji in 1867-68, however, the first scientific approach to calculate the national income of India was used by Professor VKRV Rao for the first time in 1931-32.
Detailed explanation-3: -The first attempt to calculate the national income of India was made by Dadabhai Naoroji in 1867 – 68, who estimated per capita income to be ₹ 20. The first scientific method was made by Professor VKRV Rao in 1931-32 but was not very satisfactory.
Detailed explanation-4: -Dadabhai Naoroji was the first to estimate the country’s per capita national income during the British rule for the year 1888. He was an Indian nationalist and critic of British economic policy in India.