ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the Commerce Department
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the Department of Defense
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The Department of Transportation
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None of the above
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Detailed explanation-1: -Detailed Solution. The correct answer is the Central Statistics Office . The Central Statistics Office (CSO), under the Ministry of Statistics and Program Implementation, is responsible for calculating the GDP of India, macroeconomic data gathering, and statistical record keeping.
Detailed explanation-2: -Ministry of Statistics and Programme Implementation, Government of India evaluates GDP in India.
Detailed explanation-3: -In India, the mammoth task of measuring GDP is undertaken by a central government ministry. This Ministry, with the help of various government departments of all the Indian states and union territories, collects information relating to total volume of goods and services and their prices and then estimates the GDP.
Detailed explanation-4: -The correct answer is Central Statistical Organization. The National Income Unit of the Central Statistical Organisation (C.S.O.) is nowadays entrusted with the measurement of national income.
Detailed explanation-5: -In India the entire responsibility of calculating the GDP is with the Central Statistics Office under the Ministry of Statistics and Program.