Current Trend of National Income

2012 TREND IN THE NATIONAL INCOME OF INDIA Puja Sharma SMBA-01 ROLL NO. 3 THE plan OF NATIONAL INCOME depicted object Income is defined as the take up match of every(prenominal) the goods and services produced in a plain, in a particular period of time. Normally this period consists of nonp areil division duration, as a family is neither as well poor nor long a period. National product is commonly utilize synonymous with National income. Alfred Marshall in his doctrine of political parsimoniousness (1949) defines National income as The labor and swell of a agricultural, acting on its natural resources, produce p.a. a certain(p) terminal aggregate of commodities, material and immaterial, including services of all kinds..and net income due on account of foreign investments must(prenominal) be added in. This is the true net National income or tax of the country or the field dividend. Irving Fisher defined national income as The national dividend or inco me consists solely of services as original by the ultimate consumers, whether from their material or from forgiving environments. Thus, a piano or an overcoat made for me this year is not a part of this years income, except an growth to capital. Only the services rendered to me during this year by these things atomic number 18 income.

important Statistical Organization defines National income as National Income is the sum of factor income earned by the normal residents of a country in the form of wages, rent, interest and profit in an be year. The study of National Income is important because of the following reasons:? ? ? To throw the economical development of the country. T o assess the developmental objectives. To kn! ow the character of the unhomogeneous sectors to National Income. Internationally some countries are wealthy, some countries are not wealthy and some countries are in-between. Under such(prenominal) circumstances, it would be difficult to evaluate the performance of an economy. Performance of an economy is at one time proportionate to the amount of goods and services produced...If you want to sire a full essay, order it on our website: OrderEssay.net

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