Till 1993-94, the poverty line in India was based on URP data. What does 'URP' stand for?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Uniform Reference Period.
Till 1993-94, the poverty line in India was based on Uniform Reference Period (URP) data. URP refers to a method of measuring consumption expenditure by using a fixed reference period to assess household expenditure on various goods and services. This approach provided a standardized way to calculate and compare poverty levels across different regions and populations. It was later replaced by the Consumption Expenditure Survey (CES) data for more accurate poverty estimation.