Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. 4. Why is the computation of national income important? Explain the various methods to compute national income. (250 words) Difficulty level: Moderate Reference: Insights on India Why the question: The question is part of the static syllabus of General studies …
Introduction: The provisional estimates of annual national income (2020-21), released on May 31 by the National Statistical Office, did not have any surprises, but for one, that is, there is nothing encouraging in the numbers. India’s Gross Domestic Product (GDP) contracted 7.3% in 2020-21, as per provisional National Income estimates released by the National …
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Topic– Part of static series under the heading – “National income – methods” 2) What is national income and why is it calculated? Explain the three main methods of computing national income?(250 words) Key demand of the question The question is quite self explanatory its demand. First we need to explain what NI is, how …
