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UPSC Economy GS 3

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UPSC Economy GS 3

15 Jun, 18:18

📍ESTIMATION OF NATIONAL INCOME IN INDIA

🔸In 1868, Dadabhai Naoroji wrote a book ‘Poverty and Un British Rule in India’. It was the first attempt at the calculation of National Income.

🔸The first person to estimate National Income scientifically was Dr V. K. R. V. Rao who estimated national income for the period 1925-29.

🔸After Independence National Income committee was formed in 1949 under the chairmanship of P.C. Mahalanobis.

🔸After some years Central Statistical Organisation (CSO) was formed.

1.4k 0 4

UPSC Economy GS 3

15 Jun, 17:12

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UPSC Economy GS 3

15 Jun, 09:36

📍DISPOSABLE PERSONAL INCOME

🔸Income available to individuals after deducting direct taxes.

🔸Disposable Personal Income = Personal Income – Direct Taxes
Real Income and Nominal Income-

1.7k 0 3

UPSC Economy GS 3

15 Jun, 08:23

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UPSC Economy GS 3

15 Jun, 08:23

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UPSC Economy GS 3

15 Jun, 08:23

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UPSC Economy GS 3

15 Jun, 07:11

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UPSC Economy GS 3

14 Jun, 18:34

📍PERSONAL INCOME

🔸It is the sum of all the income received by the people of the country in one year.

Personal Income = National Income + Transfer payments – Undisclosed profits of corporate + Payment for social security provisions

🔸Transfer Payments are the payments that are not against any productive work. (Example- Old Age Pension, Unemployment compensation etc.)

🔸Social Security Provisions- Payment made by employees towards PF, Insurance etc.

1.7k 0 6

UPSC Economy GS 3

14 Jun, 16:06

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UPSC Economy GS 3

14 Jun, 15:00

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UPSC Economy GS 3

14 Jun, 15:00

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UPSC Economy GS 3

14 Jun, 15:00

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UPSC Economy GS 3

14 Jun, 10:27

Репост из: UPSC Economy GS 3

📍NET NATIONAL PRODUCT

🔸It is calculated by deducting depreciation from Gross National Product (GNP)

🔸NNP = GNP – Depreciation

Note-

Factor Cost- Cost incurred to produce goods and service

Market price- For calculating market price we add Indirect taxes and deduct subsidies given by the government in Factor cost.

Market Price = Factor cost + Indirect Taxes – Subsidy

🔸NNP at factor cost = NNP at market price – Indirect taxes + subsidy

🔸Usually, we called NNP at factor cost as National Income.

🔸Likewise, NNP at factor cost, we can also calculate GDP at factor cost.

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UPSC Economy GS 3

14 Jun, 08:49

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UPSC Economy GS 3

14 Jun, 08:49

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UPSC Economy GS 3

14 Jun, 07:49

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UPSC Economy GS 3

13 Jun, 17:39

📍NET NATIONAL PRODUCT

🔸It is calculated by deducting depreciation from Gross National Product (GNP)

🔸NNP = GNP – Depreciation

Note-

Factor Cost- Cost incurred to produce goods and service

Market price- For calculating market price we add Indirect taxes and deduct subsidies given by the government in Factor cost.

Market Price = Factor cost + Indirect Taxes – Subsidy

🔸NNP at factor cost = NNP at market price – Indirect taxes + subsidy

🔸Usually, we called NNP at factor cost as National Income.

🔸Likewise, NNP at factor cost, we can also calculate GDP at factor cost.

3.3k 0 12

UPSC Economy GS 3

13 Jun, 16:19

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UPSC Economy GS 3

13 Jun, 10:22

Репост из: UPSC Economy GS 3

📍GROSS NATIONAL PRODUCT

🔸GNP is defined as the total value of the final goods and services produced by Indians in India as well as abroad during a particular period.

🔸GNP includes the value of goods produced by resident and non-resident citizens of a country whereas the income of foreigners who reside in India is excluded.

2.7k 0 2

UPSC Economy GS 3

13 Jun, 08:53

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