National Income (Net National Income at Factor Cost)

National Income 

The Net National Product at factor cost is known as National Income (as mentioned in the class XI NCERT) 

NNP (@Factor Cost) = National Income = NNP (@Market Price) – Taxes + Subsidies 


 However, the Central Statistics Office (CSO) under the Ministry of Statistics and Program Implementation defines National Income of India as Net National Income at Market Price 

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