National income

National Income & Related Concepts

National Income ,[object Object]

National Income at current prices ,[object Object],[object Object]

Estimates of GDP, NDP, NNP and Per Capita Income 1999-2000 to 2004-2005 (at current prices) (Rs. crore) Year GDP at factor cost (Rs. Crore) NDP at factor cost (Rs. Crore) NNP at factor cost (Rs. Crore) Per capita income (Rs.) 1993-94 Series New Series 1993-94 Series New Series 1993-94 Series New Series 1993-94 Series New Series 1999-00 1761838 1792292 1579479 1605643 1564048 1590212 15625 15886 2000-01 1902999 1930184 1705104 1727452 1686995 1704719 16555 16729 2001-02 2081474 2097446 1863795 1876285 1848229 1856217 17823 17883 2002-03 2254888 2255574 2021936 2019972 2008770 2003282 19040 18988 2003-04 2519785 2543396 2266148 2286826 2252070 2268576 20989 21142 2004-05 2830465 2843897 2553334 2549139 2535627 2531223 23241 23222 Growth rates (%) 2000-01 8 7.7 8 7.6 7.9 7.2 6 5.3 2001-02 9.4 8.7 9.3 8.6 9.6 8.9 7.7 6.9

National Income at constant prices ,[object Object],[object Object]

Estimates of GDP, NDP, NNP and Per Capita Income 1999-2000 to 2004-2005 (at constant prices) (old series at 1993-94 prices and new series at 1999-2000 prices) (Rs. crore) Year GDP at factor cost (Rs. Crore) NDP at factor cost (Rs. Crore) NNP at factor cost (Rs. Crore) Per Capita Income (Rs.) 1993-94 Series New Series 1993-94 Series New Series 1993-94 Series New Series 1993-94 Series New Series 1999-00 1148367 1792292 1019296 1605643 1008114 1590212 10071 15886 2000-01 1198592 1870388 1062492 1675633 1050338 1653088 10308 16223 2001-02 1267945 1978056 1125480 1775952 1115171 1755281 10754 16910 2003-04 1430548 2226041 1274074 2004703 1266005 1986858 11799 18517

Per Capita Income ,[object Object],[object Object],[object Object],[object Object]

Domestic Territory of a Country ,[object Object],[object Object],[object Object],[object Object],[object Object]

Normal Residents of a Country ,[object Object],[object Object]

Exceptions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Stock variables ,[object Object]

Examples of Stock Var. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Flow Variables ,[object Object]

Examples of Flow Var. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Closed Economy ,[object Object],[object Object]

Open Economy ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Net Factor Income from Abroad ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object]

Consumption ,[object Object],[object Object]

Capital Formation ,[object Object],[object Object]

Net Domestic Product at Factor Cost ,[object Object],[object Object]

NDP (FC) = Wages + Rent + Interest + Profit + Mixed Income of the self-employed NDP (FC) = compensation of employees + operating surplus + mixed income of self-employed

Gross Domestic Product ,[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object]

Gross National Product ,[object Object],[object Object]

Important features of GNP ,[object Object],[object Object],[object Object],[object Object],[object Object]

National Income ,[object Object],[object Object],[object Object],[object Object],[object Object]

NFA (6) NIT (5) 5 6 D (4) 4 4 5 6 Wages (1) 1 1 1 1 1 R+I+P (2) 2 2 2 2 2 Mixed Income (3) 3 3 3 3 3 NDP (FC) GDP (FC) GDP (MP) GNP (MP) NNP (MP) NNP (FC) NY

Important relations ,[object Object],[object Object],[object Object]

Quick Review ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Sectors of the Economy ,[object Object],[object Object],[object Object],[object Object]

Private Income ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Personal Income ,[object Object],[object Object],[object Object],[object Object]

Personal Disposable Income ,[object Object],[object Object],[object Object],[object Object]

Methods to Measure National Income

Circular Flow of National Income ,[object Object],Income Expenditure

Three phases of the circular flow ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product (Value Added) Method ,[object Object]

[object Object],[object Object]

Include: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Income Method ,[object Object],[object Object]

Include: ,[object Object],[object Object]

Exclude: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Expenditure Method ,[object Object],[object Object],[object Object],[object Object],[object Object]

Find out the Gross Value Added at Market Price: ,[object Object]

National income

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National income