Question

Calculating National Income is a big challenge in India. Substantiate the statement.

Answer 1

Answer:

Steps of calculating national income through product method:

Steps of calculating national income through product method:1 classification of various sector :

Steps of calculating national income through product method:1 classification of various sector :al primary sector.

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:GVA-value of output-intermediate consumption

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:GVA-value of output-intermediate consumptionvalue of output = sales + change in stock] -intermediate

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:GVA-value of output-intermediate consumptionvalue of output = sales + change in stock] -intermediateconsumption

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:GVA-value of output-intermediate consumptionvalue of output = sales + change in stock] -intermediateconsumption3 Estimation of national income

Steps of calculating national income through product method:1 classification of various sector :al primary sector.b)Secondary sector.c)tertiary sector.Estimation of Gross value added or GDP:GVA-value of output-intermediate consumptionvalue of output = sales + change in stock] -intermediateconsumption3 Estimation of national income(1+2+3)-Depreciation-NIT+NFIA-NNPFC