GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dadabhai Naoroji
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R.C. Dutta
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M.G. Ranade
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W. Hunter
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Detailed explanation-1: -20 in 1867-68, was ascertained for the first time by DadabhaiNaoroji. The average income earned per person in a particular area in a specific year is called as Per Capita Income. It is found by dividing the total income of an area by its total population.
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: -India’s per capita income also witnessed 500 times growth since India’s Independence in 1947. This increased per capita income has led to overall prosperity of the nation. In the initial years after Independence, India’s per capita income was Rs 265. This has now jumped to Rs 1, 28, 829.