explain the importance of estimation of national income of India
Answers
Answer:
National income estimates give us detailed data relating to a country's production, savings, investment, capital formation and various other economic activities in a particular year. All these data give us a comprehensive picture of the economic activities of the people during that year.
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Answer:
the importance of national income estimates is growing because of several reasons reasons
explanation
the national income estimates or statistics are very important for preparing economic plans and for framing National economic policies
2: the national income data or useful in research and distribution of National Income in the country
3: it enables us to assess the performance of each sector in the economy and interrelationship among the sectors (social accounts )
4: it is more useful in making budgetary allocations
it gives as an idea of the standard of living in the country
helps us to compare Economic growth with other countries
it gives the clear picture of the level of utilisation of natural resources in the country
it is essential to calculate per capita income in a country which reflects the Welfare and for the for this national income estimates
are necessary
it will unable us to know the role of public and private sectors in