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In India, the first attempt to estimate the National Income was made by
- a)C. Rajagopalachari
- b)Dadabhai Naoroji
- c)Madan Mohan Malviya
- d)Gopal Krishna Gokhale
- e)BR Ambedkar
Correct answer is option 'B'. Can you explain this answer?
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In India, the first attempt to estimate the National Income was made ...
Before independence, there was no independent body to estimate national income. 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. In 1949, National Income Committee was appointed by the Government of India and was chaired by P.C. Mahalanobis.
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In India, the first attempt to estimate the National Income was made ...
Attempt to Estimate National Income in India
Dadabhai Naoroji
Dadabhai Naoroji, also known as the "Grand Old Man of India," was a prominent Indian nationalist and political leader. He was the first Indian to become a member of the British Parliament and was also a strong advocate for Indian independence.
First Attempt to Estimate National Income
In 1867, Dadabhai Naoroji published a book titled "Poverty and Un-British Rule in India," in which he attempted to estimate India's national income. He used data on India's exports and imports, as well as information on British government expenditure in India, to arrive at an estimate of India's income.
Importance of Naoroji's Estimate
Naoroji's estimate was significant because it highlighted the extent to which India's wealth was being drained by British colonial rule. He argued that the British were taking far more from India than they were giving back, and that this was a major cause of poverty in the country.
Legacy of Naoroji's Work
Naoroji's estimate of India's national income was the first of its kind, and it paved the way for future attempts to measure the country's economic output. His work also helped to raise awareness of the economic exploitation of India by the British, and it played a role in the Indian independence movement. Today, Naoroji is remembered as a pioneering economist and a champion of Indian self-rule.
Dadabhai Naoroji
Dadabhai Naoroji, also known as the "Grand Old Man of India," was a prominent Indian nationalist and political leader. He was the first Indian to become a member of the British Parliament and was also a strong advocate for Indian independence.
First Attempt to Estimate National Income
In 1867, Dadabhai Naoroji published a book titled "Poverty and Un-British Rule in India," in which he attempted to estimate India's national income. He used data on India's exports and imports, as well as information on British government expenditure in India, to arrive at an estimate of India's income.
Importance of Naoroji's Estimate
Naoroji's estimate was significant because it highlighted the extent to which India's wealth was being drained by British colonial rule. He argued that the British were taking far more from India than they were giving back, and that this was a major cause of poverty in the country.
Legacy of Naoroji's Work
Naoroji's estimate of India's national income was the first of its kind, and it paved the way for future attempts to measure the country's economic output. His work also helped to raise awareness of the economic exploitation of India by the British, and it played a role in the Indian independence movement. Today, Naoroji is remembered as a pioneering economist and a champion of Indian self-rule.
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In India, the first attempt to estimate the National Income was made bya)C. Rajagopalacharib)Dadabhai Naorojic)Madan Mohan Malviyad)Gopal Krishna Gokhalee)BR AmbedkarCorrect answer is option 'B'. Can you explain this answer?
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