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Q: The economist who for the first time scientifically determined National Income in India is-
  • A. Jagdish Bhagwati
  • B. V. K. R. V. Rao
  • C. Kaushik Basu
  • D. Manmohan Singh
Correct Answer: Option B - Dadabhai Naoroji made the first crude estimates National Income for year 1867-68 in the year 1876. In 1934, V.K.R.V. Rao publish ''An Essay on India's National Income 1925-29'', which was regarded as the first scientific determination of National Income in India. In 1949, Govt. of India appointed National Income Committee under chairmanship of P.C. Mahalnobis
B. Dadabhai Naoroji made the first crude estimates National Income for year 1867-68 in the year 1876. In 1934, V.K.R.V. Rao publish ''An Essay on India's National Income 1925-29'', which was regarded as the first scientific determination of National Income in India. In 1949, Govt. of India appointed National Income Committee under chairmanship of P.C. Mahalnobis

Explanations:

Dadabhai Naoroji made the first crude estimates National Income for year 1867-68 in the year 1876. In 1934, V.K.R.V. Rao publish ''An Essay on India's National Income 1925-29'', which was regarded as the first scientific determination of National Income in India. In 1949, Govt. of India appointed National Income Committee under chairmanship of P.C. Mahalnobis