Question

What are the trends of National Income in India?​

Answer 1

Answer:

Moreover, the national income in India at current prices has increased from Rs. 9,142 crore in 1950-51 to Rs. 10,93,962 crore in 1996-97 which shows a growth of 119 times during this period of 46 years. Again the per capita income figure at constant prices (1980-81) has increased from Rs.

Answer 2

A study, of the trend of the national income in India over the last 60 years, in detail, is very much essential for attaining a clear understanding about the impact of planning on the Indian economy. Both the national income and per capita income are first collected at current prices and then at constant prices for eliminating the effect of any change of price level during that period.

This trend in national income also reflects on the standard of living of the people of India. Thus the national income at current prices is influenced by both the increase in production of goods and services and the rise in prices. In order to make the national income figures comparable, these figures are deflated at constant prices just for eliminating the effect of any change in the price level of the country.

India's per capita net national income or NNI was around 135 thousand rupees in financial year 2020. In contrast, the gross national income at constant prices stood at over 128 trillion rupees.

It can be seen that the national income of India at 1980- 81 prices has increased from Rs. 40,454 crore in 1950-51 to Rs. 2,58.465 crore in 1996-97 registering a growth rate of 538.9 per cent during last 46 years.

Top 8 Features of National Income in India

Excessive Dependence on Agriculture: ...
Poor Growth Rate of GDP and Per Capita Income: ...
Unequal Distribution and Poor Standard of Living: ...
Growing Contribution of Tertiary Sector: ...
Unequal Growth of Different Sectors: ...
Regional Disparity: ...
Urban and Rural Disparity: ...
Public and Private Sector: