Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). **Assertion (A):** The National Income Committee, appointed in 1949 under the chairmanship of P.C. Mahalanobis, faced severe limitations due to the lack of reliable statistical data. **Reason (R):** The committee had to rely on arbitrary imputations for non-monetized transactions, which constituted a significant portion of the Indian economy at the time. In the context of the above statements, which of the following is correct?

Options:

  • A: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  • B: Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
  • C: Assertion (A) is true but Reason (R) is false.
  • D: Assertion (A) is false but Reason (R) is true.

Related Practice Questions: