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    Question

    The NIC is a fundamental tool used in statistical

    surveys, censuses, economic research, and policy formulation. What does the letter ‘I’ in NIC stand for?
    A Institutional Correct Answer Incorrect Answer
    B Infrastructure Correct Answer Incorrect Answer
    C Industrial Correct Answer Incorrect Answer
    D Investment Correct Answer Incorrect Answer
    E Information Correct Answer Incorrect Answer

    Solution

    NIC stands for National Industrial Classification. It is India’s official classification system for economic activities, released by the Ministry of Statistics and Programme Implementation (MoSPI).

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