Question

Who calculates the Gross Domestic Product (GDP) in India?

• A. Reserve Bank of India (RBI)
• B. Finance Ministry
• C. National Statistical Office (NSO)
• D. NITI Aayog

Hint:

NSO calculates GDP, while RBI uses GDP for monetary policy decisions like repo rate changes.

Answer 1

The Correct Option is C

Concept: Gross Domestic Product (GDP) is the total monetary value of all final goods and services produced within a country during a specific period. In India, GDP estimation is carried out by the official national statistical agency under the Government of India.

Step 1: Identify the responsible agency The

National Statistical Office (NSO) is the official body responsible for compiling and estimating India’s national income statistics, including GDP, GVA, and related macroeconomic indicators. It functions under the

Ministry of Statistics and Programme Implementation (MoSPI).

Step 2: Institutional background The NSO was formed after the merger of:

• Central Statistical Office (CSO)

• National Sample Survey Office (NSSO)
This merger created a unified structure for efficient and standardized data collection and computation of macroeconomic indicators like GDP.

Step 3: Role of other institutions

• RBI: Uses GDP data for monetary policy but does not compute GDP.

• Finance Ministry: Uses GDP for budget formulation and fiscal planning.

• NITI Aayog: Provides policy guidance but does not calculate national income.
Thus, the correct answer is NSO.