CHAPTER 8
National Income
CHAPTER OUTLINE
• Meaning and Definition of National Income
• National Income Estimates in India
• Methodology of National Income Estimation in India
• Causes for the Slow Growth of National Income in India
• Suggestions to Raise the Level and Growth Rate of National Income in India
• Major Features of National Income in India
• Difficulties or Limitations in the Estimation of National Income in India
MEANING AND DEFINITION OF NATIONAL INCOME
Keynes’ concept of ‘national income’ is somewhere between gross national product (GNP) and net national product (NNP) (as discussed below). From GNP he subtracts only the ‘user cost’, that is, reduction in ...
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