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National  income
 

National income

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national income by mayank

national income by mayank

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    National  income National income Presentation Transcript

    • NATIONAL INCOME Presented by_ Abhishek Bhattacharya Rohan Shrivastav Mayank Bhatt
    • CONTENTIntroduction Concepts MethodsImportanceConstraints
    • INTRODUCTION“National income is the money value of all goods and service produced in a country during a year” _J. M.KEYNES
    • CONCEPTS Gross National Product: Defined as the value of all final goods and services produced during a specific period, usually one year including incomes earned abroad by nationals and excluding incomes earned locally by the foreigners. Gross Domestic Product: Defined as the market value of all final goods and services produced in the domestic economy during a period of one year including income earned locally by the foreigners excluding incomes earned abroad by the nationals.
    • METHODS OF MEASURING NATIONAL INCOME  Production production method  Income Method  ExpenditureExpenditure Income method
    • PRODUCTION METHOD Classification into sectorsEstimation of goods and services of each sectorValuation of products in terms of money
    • PRODUCTIVE SECTORS Primary secondary Territory•agriculture •industries •communications•forest •electricity •banking•fishing •trade •insurance•mining •manufacturing •health •education
    • INCOME METHOD rentIncome from wageabroad GNI profit interest
    • EXPENDITURE METHOD GrossIndividual Gov expenses expenses national income
    • IMPORTANCE OF NATIONAL INCOME To estimate economic development. To know how far development objectives were achieved. To know the contribution of various sectors to national income.
    • CONSTRAINTS TO NATIONAL INCOME Non availability of reliable statistics. The service of housewives is not included in the national income because this service is not sold in the market. Individuals do not keep correct account of their consumption. Illiteracy and ignorance Lack of proper criteria for measuring the value of services.
    • THANKS TO ALL