Economics • Indian EconomyHard
What institutional role does the 'National Statistical Office' (NSO) play within the Ministry of Statistics and Programme Implementation in India?
A. Formulating monetary policy benchmarks and fixing benchmark repo rates
B. Conducting large-scale sample surveys and compiling macroeconomic aggregates like GDP, IIP, and consumer price inflation indices✓ Correct Answer
C. Allocating central financial grants to state governments based on Finance Commission formulas
D. Regulating securities markets and protecting investor interests across stock exchanges
💡 Solution & Explanation
The National Statistical Office is responsible for the collection, compilation, and dissemination of official statistical data in India, including national accounts estimates, the Index of Industrial Production, and consumer price inflation numbers. Alternative options describe the functions of the RBI, Finance Commission, or SEBI. Reliable statistical compilation by NSO guides evidence-based macroeconomic policymaking.
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