Explain the difference methods used in calculating national income of india ?
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ADVERTISEMENTS: The national income of a country can be measured by three alternative methods: (i) Product Method (ii) Income Method, and (iii) Expenditure Method.
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There are mainly three methods
1.income method
2.expenditure method
3.value added method
income method includes all the income of persons residing in country or working outside but thier income lies in his own country
expenditure method includes all the expenditure of govt and persons
value added method includes the value of prices at every aspect of production
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