measurment of national income suffers from various limitation which leads us to conclude that it is not an overall appropriate measure of the welfar of people still national income accounting is done and national income estimate are prepared . justify
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(i) National income accounting helps in identifying specific economic achievements of a country.
(ii) It provides an objective base of evaluation and review of policies implemented.
(iii) It indicates specific contribution of each sector of the economy.
In spite of certain limitations, it is a measure of economic production if not overall welfare
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