Jonah Patel
The National Income Committee was appointed by the Government of India in August 1949, with the aim of compiling authoritative estimates of national income on a scientific basis. The committee was chaired by Professor P.C. Mahalanobis, with Professor D.R. Gadgil and Dr. V.K.R.V. Rao as its members. The first report of the National Income Committee, signed on April 15, 1951, stated that the total national income for 1948-1949 was Rs. 8710 crore, with a per capita income of Rs. 225.
| Characteristics | Values |
|---|---|
| Year constituted | 1949 |
| Month constituted | August |
| Chairman | Prof. P.C. Mahalanobis |
| Members | Prof. D.R. Gadgil and Dr. V.K.R.V. Rao |
| First report | Signed on 15 April 1951 |
Explore related products
What You'll Learn
The National Income Committee was constituted in 1949
The National Income Committee was chaired by Professor P.C. Mahalanobis, with Professor D.R. Gadgil and Dr. V.K.R.V. Rao as its two members. The committee's first report was signed on April 15, 1951, and it stated that the total national income for 1948-1949 was Rs. 8710 crore, with a per capita income of Rs. 225.
The establishment of the National Income Committee was a significant step towards understanding and managing the country's economy. By compiling and analysing data on national income, the committee provided valuable insights that could inform policy decisions and economic strategies. This work laid the foundation for future economic planning and helped shape the development of India's economy in the years following its independence.
The committee's work also highlighted the importance of accurate and comprehensive data in economic decision-making. The National Income Committee's estimates were based on scientific methods and a range of factors, including indicators of economic growth, employment, and income. This comprehensive approach ensured that the estimates were as accurate and reliable as possible, providing a solid basis for economic policy-making.
The National Income Committee's work extended beyond simply calculating national income figures. By analysing various economic sectors and factors, the committee contributed to a better understanding of the Indian economy as a whole. This included examining factors such as environmental resource decay and the efforts made to compensate for any loss, as well as considering other socio-economic indicators.
The First Constitution: A Successful Experiment?
You may want to see also
Prof. PC Mahalanobis was the chairman
The Government of India appointed the National Income Committee in August 1949, with Prof. PC. Mahalanobis serving as its chairman. Prof. Mahalanobis was joined by Prof. D.R. Gadgil and Dr. V.K.R.V. Rao as the committee's two other members. The committee was tasked with the scientific compilation of national income estimates.
Prof. PC. Mahalanobis, a renowned Indian scientist and statistician, played a pivotal role in India's post-independence economic planning. As the chairman of the National Income Committee, he led the first official attempt to estimate India's national income. This endeavour was of utmost importance as it provided a baseline for economic policy formulation and decision-making in the newly independent nation.
The committee's work culminated in its first report, signed on April 15, 1951. This report presented the total national income and per capita income for the period 1948-1949. According to the report, India's national income during that period was Rs. 8710 crore, and the per capita income was Rs. 225.
Prof. Mahalanobis' leadership of the National Income Committee exemplifies his significant contributions to India's statistical and economic development. His work laid the foundation for future economic planning and policy-making in the country. The committee's reports and findings continue to be referenced and built upon as India strives for economic growth and progress.
The National Income Committee's work under Prof. Mahalanobis' chairmanship set a precedent for subsequent economic committees and initiatives in India. It demonstrated the importance of accurate data, scientific estimation, and comprehensive analysis in informing economic policies and strategies. By establishing a baseline for national income estimation, the committee's work has had a lasting impact on India's economic landscape.
The US Constitution's First Sentence: A Powerful Statement
You may want to see also
Prof. D.R. Gadgil was a member
In August 1949, the Government of India appointed the National Income Committee to compile the country's first authoritative estimates of national income. The committee was chaired by Professor P.C. Mahalanobis, with Professor D.R. Gadgil and Dr. V.K.R.V. Rao as its two members.
Professor D.R. Gadgil, an eminent Indian statistician and economist, played a pivotal role as a member of the National Income Committee. His expertise in statistics and economics contributed significantly to the committee's work. Gadgil's academic background and research in economic planning and development provided a strong foundation for his involvement in the committee. He brought a wealth of knowledge and experience to the task of estimating national income.
As a member, Gadgil actively participated in the committee's deliberations and discussions. He collaborated closely with the chairman, Professor Mahalanobis, and the other member, Dr. Rao. Their combined efforts aimed to develop a scientific and rational approach to estimating national income. Gadgil's insights and contributions helped shape the methodology and framework used by the committee in their calculations.
The National Income Committee's work was meticulous and comprehensive. They employed various statistical techniques and data sources to estimate national income accurately. Gadgil's expertise in statistics ensured that the committee's calculations were robust and reliable. He was instrumental in analysing economic data, formulating assumptions, and applying appropriate methodologies to derive meaningful insights.
The committee's first report, signed on 15 April 1951, estimated the total national income for 1948-1949 to be Rs. 8710 crore, with a per capita income of Rs. 225. This report, which included Gadgil's contributions, marked a significant milestone in India's economic history. It provided a baseline for future economic analysis and policy-making, reflecting the committee's dedication to producing authoritative and informative estimates.
Professor D.R. Gadgil's membership on the National Income Committee exemplifies his dedication to public service and economic advancement in India. His involvement contributed to the committee's success in establishing a foundation for understanding and managing the country's economy. Gadgil's work continues to influence economic policies and decisions, highlighting his enduring impact on India's economic landscape.
The Founding Words: India's Constitution First Line
You may want to see also
Explore related products
Dr. V.K.R.V. Rao was a member
In August 1949, the Government of India appointed the National Income Committee to compile the country's first authoritative estimates of national income. The committee was chaired by Professor P.C. Mahalanobis, with Professor D.R. Gadgil and Dr. V.K.R.V. Rao as its members.
Dr. V.K.R.V. Rao was a prominent economist and academic who played a significant role in shaping India's economic policies in the post-independence era. As a member of the National Income Committee, he worked alongside Prof. Mahalanobis and Prof. Gadgil to develop methods for estimating national income and calculating India's GDP. The committee's work was essential as it provided the government with data-driven insights to make informed economic decisions and formulate policies that could impact the country's economic growth and development.
The National Income Committee's first report, signed on April 15, 1951, estimated India's total national income for 1948-1949 at Rs.8710 crore, with a per capita income of Rs.225. This report set a precedent for future economic reporting and analysis in India, as it established a baseline for measuring the country's economic performance and provided a framework for subsequent committees and organisations to build upon.
Dr. V.K.R.V. Rao's contributions to the National Income Committee were significant. He brought his expertise in economics and public finance to the committee's deliberations, helping to shape the methodology and approach used to estimate national income. As a member, he was involved in collecting and analysing data, developing economic models, and formulating recommendations for the government. Rao's work on the committee demonstrated his commitment to using economic principles to address the challenges of nation-building in post-independence India.
In addition to his work on the National Income Committee, Dr. V.K.R.V. Rao held several other prominent positions throughout his career. He served as a professor of economics at various universities, including the Delhi School of Economics, and as a member of other economic committees and advisory boards. He was also a prolific writer, contributing to academic journals and publishing books on economics and public policy. Dr. Rao's body of work and his contributions to economic policy in India have left a lasting legacy that continues to influence the country's economic trajectory.
Rethinking the US Constitution: The Impactful Event
You may want to see also
The committee compiled India's national income
In August 1949, the Government of India appointed the National Income Committee to compile authoritative estimates of national income. The committee was chaired by Professor P.C. Mahalanobis, with Professor D.R. Gadgil and Dr. V.K.R.V. Rao as its members. The National Income Committee was tasked with compiling India's national income estimates rationally and on a scientific basis.
The first report of the National Income Committee was signed on April 15, 1951. According to this report, the total national income of India for 1948-1949 was Rs. 8710 crore, and the per capita income was Rs. 225. This report marked the first official attempt to estimate India's national income, and the Central Statistical Organisation (now the Central Statistical Office) has continued to formulate national income data since then.
The National Income Committee's work laid the foundation for understanding and analysing India's economic performance and provided a baseline for future comparisons. By compiling data on national income, the committee contributed to economic policymaking and planning in post-independence India. The committee's estimates also allowed for the calculation of key economic indicators such as per capita income, which provides insights into the standard of living and economic well-being of the population.
The work of the National Income Committee continues to be referenced and built upon in subsequent years. The committee's methodology and data have been further refined and improved, taking into account various parameters and indicators to enhance the accuracy of national income estimation. This ongoing work ensures that India's economic progress can be effectively monitored and evaluated over time.
The Bahamas' First Constitution: The Name and Its Legacy
You may want to see also
Frequently asked questions
The first National Income Committee was constituted in August 1949.
Professor PC Mahalanobis was the chairman of the National Income Committee.
The National Income Committee was appointed by the Government of India to compile authoritative estimates of national income on a scientific basis.
![COMMITTEE of the STATES ~ Inside the Radical Right by Cheri Seymour ~ First Ed. [Hardcover] Cheryl Seymour](https://m.media-amazon.com/images/I/4100TnUHyZL._AC_UY218_.jpg)
