13 answer class 11 cbse
Answers
Yes, statistical data is essential for formulating policies of economic development as:
1.The statistical data is important for Government and policy makers to formulate suitable policies of economic development.
2.statistical data is essential for calculating and measuring a countries income and development rate.
3.It not only helps in analysing and evaluate the outcomes of the past policies but also assist them to take corrective measures and to formulate new policies accordingly.
4.In preparing annual government budget, previous data of government expenditures and government revenues are taken into consideration for estimating the allocation of funds among various projects.
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