Q. Consider the following statements:

1. Gross Domestic Product (GDP) is the value of all final goods and services produced within a country during a particular year.
2. In India, the mammoth task of measuring GDP is undertaken by the NITI Aayog.

Which of the above is / are correct?
Answer: Only 1
Notes: Only the first statement is correct. Gross Domestic Product (GDP) is the value of all final goods and services produced within a country during a particular year. In India, the mammoth task of measuring GDP is undertaken by a central government ministry. This Ministry, with the help of various government departments of all the Indian states and union territories, collects information relating to total volume of goods and services and their prices and then estimates the GDP.

This question is part of UPSC Daily 20 MCQ Series Course on GKToday Android app.