Question

Methods of measuring national income .And explain those are followed in india

Answer 1

following are the three method measuring nation income.

In the first method, it is straightway the national output that is evaluated.

In the second method, it is the income accruing from production and sale of goods and services which is accounted for.

And in the third method, it is the expenditure on these goods and services which is estimated.

In the case of India, output method is used.orIn the combination of a mixed method, both the output method and the income method have been used. The output method has been used largely in the commodity producing sectors like agriculture and manufacturing.