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    ​Which agency coordinates with various federal and state government agencies and departments to collect and compile the data required to calculate the
    Question

    Which agency coordinates with various federal and state government agencies and departments to collect and compile the data required to calculate the GDP in India?

    A.

    National Statistical Office

    B.

    Ministry of Commerce and Industry

    C.

    Reserve Bank of India

    D.

    Indian Statistical Institute

    Correct option is A

    The correct answer is (a) National Statistical Office

    Explanation: The National Statistical Office (NSO) coordinates with various federal and state government agencies and departments to collect and compile data for calculating India's GDP

    Information Booster: Steps taken by NSO for the above mentioned task:-

    • Data collection- The NSO collects economic data, maintains statistical records, and conducts annual industry surveys.
    • Data compilation-The NSO compiles indexes like the Consumer Price Index (CPI) and the Index of Industrial Production (IPI).
    • Data use- The NSO uses the data collected to calculate India's GDP and other figures.
    • Publication- The NSO publishes the GDP on a monthly basis, with a time lag of six weeks from the reference month.

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