Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy on the Eve of Independence

Question:

The notable estimators - Dadabhai Naoroji, William Dighy, Findlay Shirras, V.K.R.V. Rao and R.C. Desai during the colonial period estimated which of the following?

Options:

India's National and Per Capita Income

India's Tax Wealth

England's Per Capita Income

Total wealth taken by Britishers

Correct Answer:

India's National and Per Capita Income

Explanation:

The colonial government never made any sincere attempt to estimate India’s national and per capita income. Some individual attempts which were made to measure such incomes yielded conflicting and inconsistent results. Among the notable estimators — Dadabhai Naoroji, William Digby, Findlay Shirras, V.K.R.V. Rao and R.C. Desai — it was Rao, whose estimates during the colonial period was considered very significant. However, most studies did find that the country’s growth of aggregate real output during the first half of the twentieth century was less than two per cent coupled with a meagre half per cent growth in per capita output per year.