Question
What precautions should be taken while estimating national income by value added method? Explain.
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|
S.No.
|
Particulars
|
Amount
(In $₹$ crores$)$ |
| $(i)$ |
National Income
|
$50,000$ |
| $(ii)$ |
Net Indirect Taxes
|
$1,000$ |
| $(iii)$ |
Private Final Consumption Expenditure
|
$?$ |
| $(iv)$ |
Gross Domestic Capital Formation
|
$17,000$ |
| $(v)$ |
Profits
|
$1,000$ |
| $(vi)$ |
Government Final Consumption Expenditure
|
$12,500$ |
| $(vii)$ |
Wages & Salaries
|
$20,000$ |
| $(viii)$ |
Consumption of Fixed Capital
|
$700$ |
| $(ix)$ |
Mixed Income of Self Employed
|
$13,000$ |
| $(x)$ |
Operating Surplus
|
$?$ |
| $(xi)$ |
Net Factor Income from Abroad
|
$500$ |
| $(xii)$ |
Net Exports
|
$2,000$ |
| $(₹$ crore$)$ | ||
| $(i)$ | Gross National Disposable Income | $600$ |
| $(ii)$ | Net current transfers to abroad | $(–20) $ |
| $(iii)$ | Consumption of fixed capital | $60$ |
| $(iv)$ | Current transfers from government | $30$ |
| $(v)$ | Indirect tax | $100$ |
| $(vi)$ | Income accruing to government | $80$ |
| $(vii)$ | Subsidies | $10$ |
| $(viii)$ | Net factor income to abroad | $(–10) $ |
| $(ix)$ | National debt interest | $40$ |
| $(x)$ | Personal tax | $150$ |