Growth and Indicators

Economic Affairs

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Indian Economy - Understanding the basics of Indian economic system

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The term National Income represents

gross national product at market prices minus depreciations

gross national product at market prices minus depreciation plus net factor income from abroad

gross national product at market prices minus depreciation and indirect taxes plus subsidies

gross national product at market prices minus net factor income from abroad

Explanation:

National income is the total value a country’s final output of all new goods and services produced in one year.
It is the gross national product at market prices minus depreciation and indirect taxes plus subsidies.

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