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Consider the following statements:
1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.
2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.
3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.
Which of the statements given above is/are correct?
- a)1 Only
- b)1 and 2 Only
- c)1 and 3 Only
- d)1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:1. The National Statistical Office ...
- Statement 1 is correct: The National Statistical Office (NSO) is indeed contemplating the use of GST data for estimating GDP, aiming to replace the Ministry of Corporate Affairs' MCA-21 database. This change is intended to improve the accuracy of GDP estimates, particularly for the Private Corporate Sector (PCS), which constitutes about 38% of GDP.
- Statement 2 is correct: The MCA-21 database was introduced in the last revision of the GDP series in 2011-12. It replaced the Annual Survey of Industries (ASI) and RBI data samples due to their limitations in capturing the full extent of value addition outside factories and the growing Private Corporate Sector.
- Statement 3 is incorrect: The use of GST data for GDP estimation has not been universally accepted. There are concerns regarding the GST dataset's validation for policy research. Therefore, the NSO has been advised to conduct pilot studies to ensure the reliability of GST data for GDP estimation.
Thus, the correct answer is Option B.
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Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. The National Statistical Office (NSO) is proposing to replace the Ministry of Corporate Affairs' MCA-21 database with Goods and Services Tax (GST) data for estimating GDP.2. The MCA-21 database was introduced in the GDP series revision of 2011-12, replacing the Annual Survey of Industries (ASI) and RBI data samples.3. The proposed use of GST data for GDP estimation has universally been accepted without any concerns.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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