The 'National Income' in India was first estimated by: MCQ with Answer and Explanation

Question
The 'National Income' in India was first estimated by:
A. Dadabhai Naoroji
B. P.C. Mahalanobis
C. V.K.R.V. Rao
D. R.C. Dutt
Answer: Option C
Solution (By JKSSB Mock Tests)
V.K.R.V. Rao made the first scientific estimate of India's national income.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of globalisation in the economic sense?
A. Complete ban on cross-border capital flows
B. Increasing isolation of national economies
C. Increasing integration of national economies through trade, investment and technology
D. Only cultural exchange without economic linkages
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Correct Answer: Option C

Explanation:
Economic globalisation refers to the growing interdependence of national economies through the expansion of cross-border trade, capital flows, technology transfer and information exchange.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Multi-State Cooperative Societies Act' was enacted in which year?
A. 2006
B. 1984
C. 2012
D. 2002
Discuss
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Correct Answer: Option D

Explanation:
The Multi-State Cooperative Societies Act was enacted in 2002.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the Indian tax system after the introduction of GST?
A. Persistence of multiple cascading taxes
B. Only origin-based taxation
C. Complete elimination of all state-level taxes without dual structure
D. A unified destination-based tax on goods and services with input tax credit mechanism
Discuss
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Correct Answer: Option D

Explanation:
GST replaced a large number of cascading central and state taxes with a unified destination-based tax that permits seamless input tax credit.
This question belongs to: Economy GK Economy Set 1
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