NATIONAL INCOME AND METHODS OF MEASURING GDP GNI

WHAT IS NATIONAL INCOME ?

According to the National Income Committee (1994) A national income measures the net value of goods  and services produced in a country during a year and it also includes net earned foreign income, In other words a total of national income measures the flow of goods and services  In an economy

In India national income estimates are related with the financial year (April 1 to March 31)

In India the Central Statistical Organisation has been formulating national income.

National income

CONCEPT OF NATIONAL INCOME ?

*  GROSS DOMESTIC PRODUCT (GDP)

*  NET DOMESTIC PRODUCT(NDP)

*  GROSS NATIONAL INCOME(GNI)

*  NET NATIONAL PRODUCT (NNP)

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually,

The net domestic product (NDP) equals the gross domestic product (GDP) minus depreciation on a country's capital goods.

The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomesearned by foreign residents, minus income earned in the domestic economy by nonresidents 

Net national product (NNP) refers to gross all product (GNP), i.e. the total market value of all final goods and services produced by the factors of production of a country or other polity during a given time period, minus depreciation.^[1] Similarly, net domestic 

METHODS OF MEASURING NATIONAL INCOME ?

* VALUE-ADDED METHOD

* INCOME METHOD

* EXPENDITURE METHOD

Measuring national income

HI FRIENDS THE BASIC CONCEPT OF NATIONAL INCOME AND GDP,GNI FROM ECONOMIC CHAPTER AND IT'S METHOD OF CALCULATION IS PRESENT HERE, I THINK THIS WILL HELPFUL TO IMPROVE YOUR KNOWLEDGE.