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 

Note: 

 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 

Print Friendly, PDF & Email

Free IAS Preparation by Email

Enter your email address to subscribe to the blog followed by several Rankholders and ensure success in IAS.