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TRENDS IN NATIONAL INCOME

TRENDS IN NATIONAL INCOME. MEANING. NATIONAL INCOME THREE APPROACHES TO DEFINE NATIONAL INCOME PRODUCT METHOD INCOME METHOD EXPENDITURE METHOD. NATIONAL INCOME IN INDIA. BEFORE INDEPENDENCE PCY DADABHAI NAOROJI - RS. 20

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TRENDS IN NATIONAL INCOME

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  1. TRENDS IN NATIONAL INCOME

  2. MEANING • NATIONAL INCOME • THREE APPROACHES TO DEFINE NATIONAL INCOME • PRODUCT METHOD • INCOME METHOD • EXPENDITURE METHOD

  3. NATIONAL INCOME IN INDIA • BEFORE INDEPENDENCE • PCY • DADABHAI NAOROJI - RS. 20 • WADIA AND JOSHI - RS. 44 SHAH AND KHAMBATA - 74 VKRV RAO ------- 62 MINISTRY OF COMMERCE---------198

  4. DIFFICULTIES IN MEASURING NI NO GOVT. AGENCY NO RELIABLE DATA NO UNIFORMITY IN METHODS ESTIMATES BASED ON CURRENT PRICES

  5. NATIONAL INCOME AFTER INDEPENDENCE • NATIONAL INCOME COMMITTEE • 1951-1954 CENTRAL STAISTICAL ORGANISATION • CONVENTIOANL SERIES-1952-67 BASE 1949 • FIRST REVISED SERIES-BASE TO 1960 • SECOND REVISED- BASE 1970 • THIRD –BASE 1980 FOURTH – BASE 1993-94 • FIFTH-1999-2000 ;; NEW SERIES-2004-05

  6. METHODS TO MEASURE NI AFTTER INDEPENDENCE • VALUE ADDED METHOD-AGRICULTURE; FORESTRY; FISHING; MINING REGISTERED MANUFACTURING VALUE ADDED = VALUE OF OUTPUT – VALUE OF INTERMEDIATE GOODS • INCOME METHOD -COTTAGE AND SMALL INDUSTRIES; UNREGISTERED MANUFACTURING; ROADS WATER TRANSPORT; HOTELS; • ADDING FACTOR INCOMES; OR PROFIT LOSS ACCOUNTS

  7. METHODS TO MEASURE NI AFTTER INDEPENDENCE • EXPENDITURE METHOD OR • RURAL CONSTRUCTION ACTIVITY ;; COMMODITY FLOW METHOD FOR URBAN CONSTRUCTION

  8. IMPORTANCE • TO ESTIMATE THE NLEVEL OF ECONOMIC DEVELOPMENT • TO CALCULATE PER CAPITA INCOME • TO ANALYSE BUSINESS CYCLES • TO HELP IN FORMULATION OF ECONOMIC • FOR INTERNATIONAL COMPARISONS • TO ANALYSE REGIONAL COMPARISONS

  9. DIFFICULTIES IN MEASURE MENT OF NATIONAL INCOME • NON MONETISED SECTOR • LACK OF DISTINCT DIFFERENTIATION IN ECONOMIC ACTIVITIES • CONCEPTUAL PROBLEMS- DEFINITION ;; BASE YEAR • BLACK MONEY • INTERREGIONAL DIFFERENCES • NO RELIABLE DATA DUE TO ILLITERACY

  10. WRONG DISCLOSURE OF DATA • DIFFICULTIES OF SAMPLING TECHNIQUES • LACK OF SKILLED – TRAINED PERSONNEL • WHAT IS NOT ICLUDED IN NI • ILLEGAL ACTS • NON ECONOMIC ACTIVITIES • BLACK MONEY

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