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Consider the following statements about Economic Census (EC):
1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.
2. It is a centrally sponsored scheme.
3. Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.
4. It is conducted every four years.
5. The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.
Which of the statements given above is/are correct? 
  • a)
    1, 2 and 4 only
  • b)
    2, 3 and 4 only
  • c)
    1, 2, 3 and 5 only
  • d)
    1, 2, 3, 4 and 5 
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements about Economic Census (EC):1. It is ...
Economic Census Statements
  • Statement 1: Economic Census provides essential entrepreneurial data for planning and development in the States, especially for unorganized sectors of the economy. This statement is correct.
  • Statement 2: The Economic Census is a centrally sponsored scheme under the Ministry of Statistics and Program Implementation. Hence, this statement is correct.
  • Statement 3: The Ministry of Statistics and Program Implementation serves as the nodal agency for conducting the Economic Census in the country. This statement is also correct.
  • Statement 4: The Economic Census is conducted every five years, not every four years. Therefore, this statement is incorrect.
  • Statement 5: The seventh Economic Census aims to capture recent changes in the economy, such as demonetization, the Goods and Services Tax, and reductions in corporate taxes. This statement is correct.
The correct answer is: 1, 2, 3 and 5 Only.
In News
  • The Central government mentioned delays in releasing the results of the Seventh Economic Census, which provides crucial data on formal and informal nonfarm enterprises nationwide, to the Parliament’s Standing Committee on Finance.
Key Points - Economic Census:
  • Economic Census offers fundamental entrepreneurial data for planning and development, especially in unorganized sectors.
  • It is a centrally sponsored scheme by the Ministry of Statistics and Program Implementation, Government of India.
  • The Census is conducted every five years and captures detailed information about employment, ownership patterns, and finance sources.
  • The latest seventh Economic Census reflects changes in India's economic landscape post-policy shifts like demonetization and GST implementation.
  • Historically, several Economic Censuses have been conducted across different years to provide updated economic information.
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Consider the following statements about Economic Census (EC):1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.2.It is acentrally sponsored scheme.3.Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.4. It is conducted every four years.5.The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.Which of the statements given above is/are correct?a)1, 2 and 4 onlyb)2, 3 and 4 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4 and 5Correct answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements about Economic Census (EC):1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.2.It is acentrally sponsored scheme.3.Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.4. It is conducted every four years.5.The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.Which of the statements given above is/are correct?a)1, 2 and 4 onlyb)2, 3 and 4 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4 and 5Correct answer is option 'C'. Can you explain this answer? for UGC NET 2024 is part of UGC NET preparation. The Question and answers have been prepared according to the UGC NET exam syllabus. Information about Consider the following statements about Economic Census (EC):1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.2.It is acentrally sponsored scheme.3.Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.4. It is conducted every four years.5.The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.Which of the statements given above is/are correct?a)1, 2 and 4 onlyb)2, 3 and 4 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4 and 5Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UGC NET 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements about Economic Census (EC):1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.2.It is acentrally sponsored scheme.3.Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.4. It is conducted every four years.5.The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.Which of the statements given above is/are correct?a)1, 2 and 4 onlyb)2, 3 and 4 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4 and 5Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements about Economic Census (EC):1. It is the basic entrepreneurial data for planning and development in the State specially for unorganized sectors of the economy.2.It is acentrally sponsored scheme.3.Ministry of Statistics and Program Implementation is the nodal agency for conducting Economic Census in the country.4. It is conducted every four years.5.The seventh EC is expected to capture the recent changes such as demonetisation, the Goods and Services Tax and paring of corporate taxes.Which of the statements given above is/are correct?a)1, 2 and 4 onlyb)2, 3 and 4 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4 and 5Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UGC NET. Download more important topics, notes, lectures and mock test series for UGC NET Exam by signing up for free.
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