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The Government and policy makers use statistical development to formulate suitable policies of economic development. Illustrate with two examples. |
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Answer» The statistical data is important for Government and policy makers to formulate suitable policies of economic development. 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. It is clear from examples. 1. It can be ascertained by using statistical techniques whether the policy of family planning is effective in checking the problem of rapidly growing population. 2. In preparing annual Government budgets, previous data of Government expenditures and Government resources are taken into consideration for estimating the allocation of funds among various projects. |
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