Consider the following statements : 1. Government of India has recently upgraded the National Industrial Classification from NIC-1987 to NIC-2008. 2. NIC is an essential statistical standard for developing and maintaining comparable database according to

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Q: 71 (CDS-II/2014)
Consider the following statements :
1. Government of India has recently upgraded the National Industrial Classification from NIC-1987 to NIC-2008.
2. NIC is an essential statistical standard for developing and maintaining comparable database according to economic activities.
Which of the statements given above is/are correct?

question_subject: 

Current Affairs

question_exam: 

CDS-II

stats: 

0,19,5,0,4,19,1

keywords: 

{'nic': [0, 0, 0, 1], 'national industrial classification': [0, 0, 0, 1], 'essential statistical standard': [0, 0, 0, 1], 'comparable database': [0, 0, 0, 1]}

The correct answer is option 3, both statements 1 and 2 are correct.

Statement 1 is accurate as the Government of India has indeed upgraded the National Industrial Classification from NIC-1987 to NIC-2008. This upgrade reflects changes in the industrial landscape and helps in capturing and categorizing economic activities accurately for statistical purposes.

Statement 2 is also correct as the NIC serves as an essential statistical standard for developing and maintaining a comparable database according to economic activities. It provides a standardized framework for classifying industries and is used to collect and analyze data on economic activities in a systematic and meaningful way.

Therefore, both statements are accurate and highlight the importance of the National Industrial Classification in maintaining consistent and comparable data on economic activities in India.