Net Domestic Product at Factor Cost(NDPFC) = Private Final Consumption Expenditure+ Government Final Consumption Expenditure + Net Domestic Fixed Capital Formation + Net Change in Stocks Net Imports Indirect Taxes =Rs. (Delhi 2009), 77. The net domestic product is defined as the net value of all the goods and services produced within a countrys geographic borders. You must give reason in support of your answer. (ii) Interest on a car loan paid by a government owned company. Income Method NDP (FC) = F I F I = COE + OS + MISE COE = W SC + W SK + SS OS = Rent + Interest + Royalty + P rofit Rent = PO + IR NI = ITR IP. = Rs. Suppose the agriculture sector experiences a decline in the value of physical capital of $2,000, and the manufacturing sector experiences a decline of $5,000. = 860 230 From the following data calculate Net Value Added at Factor Cost (Delhi 2008 C), Ans. D denotes Domestic Production of the Countrys Non-Residents. 630 arab, (b) Net National Disposable Income (NNDI) Calculate value of output from the following data (Delhi 2008), Ans. NNPfc = NDPfc + NFIA. difference between exports and imports during an accounting year. Net Domestic Product at market price includes indirect taxes and subsidies, as well as the depreciation of physical capital. (iii) Scholarship given to Indian students studying in India by a foreign firm will not be included while estimating National Income, as it is a transfer payment. An increase in NDP would indicate growing economic health, while a decrease would indicate economic stagnation. In other words, the NDP-FC is calculated by subtracting the indirect taxes and adding the subsidies to the value of output, which is the value of all goods and services produced within a countrys borders. (i) Salaries received by Indian residents working in Russian Embassy in India. 685 arab Calculate Gross Value Added at Factor Cost from the following data, Ans. There are three different methods of determining NI:1. The result provides a more accurate picture of a countrys economic output. 510 crore, 79. (i) Payment of fees to a lawyer engaged by a firm will not be included while estimating National Income, as it is a kind of intermediate expenditure for the firm. GNP FC = NNP FC + Depreciation OR. Ans. (ii) It is not included in the estimation of GDPMPbecause loans are not used for production purpose. Give reasons for your answer. 50: Solution: GNP at MP = NDP at FC + Depreciation - Net Factor income from abroad + Indirect tax =3,200 + 400-50 + 70 = 3,620 crores. Ans. (v) Commission earned on account of sale and purchase of second hand goods is included. National income accounting refers to the bookkeeping system that governments use to measure the level of the economic activity, such as GDP. 6570 crore, (b) Net National Disposable Income (NNDI) = GNPFC + Net Indirect tax Consumption of Fixed Capital+ Net Current Transfers from Rest of the World = 6570+ 800 100 + (70 40) NCERT Solutions Class 12 Business Studies, NCERT Solutions Class 12 Accountancy Part 1, NCERT Solutions Class 12 Accountancy Part 2, NCERT Solutions Class 11 Business Studies, NCERT Solutions for Class 10 Social Science, NCERT Solutions for Class 10 Maths Chapter 1, NCERT Solutions for Class 10 Maths Chapter 2, NCERT Solutions for Class 10 Maths Chapter 3, NCERT Solutions for Class 10 Maths Chapter 4, NCERT Solutions for Class 10 Maths Chapter 5, NCERT Solutions for Class 10 Maths Chapter 6, NCERT Solutions for Class 10 Maths Chapter 7, NCERT Solutions for Class 10 Maths Chapter 8, NCERT Solutions for Class 10 Maths Chapter 9, NCERT Solutions for Class 10 Maths Chapter 10, NCERT Solutions for Class 10 Maths Chapter 11, NCERT Solutions for Class 10 Maths Chapter 12, NCERT Solutions for Class 10 Maths Chapter 13, NCERT Solutions for Class 10 Maths Chapter 14, NCERT Solutions for Class 10 Maths Chapter 15, NCERT Solutions for Class 10 Science Chapter 1, NCERT Solutions for Class 10 Science Chapter 2, NCERT Solutions for Class 10 Science Chapter 3, NCERT Solutions for Class 10 Science Chapter 4, NCERT Solutions for Class 10 Science Chapter 5, NCERT Solutions for Class 10 Science Chapter 6, NCERT Solutions for Class 10 Science Chapter 7, NCERT Solutions for Class 10 Science Chapter 8, NCERT Solutions for Class 10 Science Chapter 9, NCERT Solutions for Class 10 Science Chapter 10, NCERT Solutions for Class 10 Science Chapter 11, NCERT Solutions for Class 10 Science Chapter 12, NCERT Solutions for Class 10 Science Chapter 13, NCERT Solutions for Class 10 Science Chapter 14, NCERT Solutions for Class 10 Science Chapter 15, NCERT Solutions for Class 10 Science Chapter 16, NCERT Solutions For Class 9 Social Science, NCERT Solutions For Class 9 Maths Chapter 1, NCERT Solutions For Class 9 Maths Chapter 2, NCERT Solutions For Class 9 Maths Chapter 3, NCERT Solutions For Class 9 Maths Chapter 4, NCERT Solutions For Class 9 Maths Chapter 5, NCERT Solutions For Class 9 Maths Chapter 6, NCERT Solutions For Class 9 Maths Chapter 7, NCERT Solutions For Class 9 Maths Chapter 8, NCERT Solutions For Class 9 Maths Chapter 9, NCERT Solutions For Class 9 Maths Chapter 10, NCERT Solutions For Class 9 Maths Chapter 11, NCERT Solutions For Class 9 Maths Chapter 12, NCERT Solutions For Class 9 Maths Chapter 13, NCERT Solutions For Class 9 Maths Chapter 14, NCERT Solutions For Class 9 Maths Chapter 15, NCERT Solutions for Class 9 Science Chapter 1, NCERT Solutions for Class 9 Science Chapter 2, NCERT Solutions for Class 9 Science Chapter 3, NCERT Solutions for Class 9 Science Chapter 4, NCERT Solutions for Class 9 Science Chapter 5, NCERT Solutions for Class 9 Science Chapter 6, NCERT Solutions for Class 9 Science Chapter 7, NCERT Solutions for Class 9 Science Chapter 8, NCERT Solutions for Class 9 Science Chapter 9, NCERT Solutions for Class 9 Science Chapter 10, NCERT Solutions for Class 9 Science Chapter 11, NCERT Solutions for Class 9 Science Chapter 12, NCERT Solutions for Class 9 Science Chapter 13, NCERT Solutions for Class 9 Science Chapter 14, NCERT Solutions for Class 9 Science Chapter 15, NCERT Solutions for Class 8 Social Science, NCERT Solutions for Class 7 Social Science, NCERT Solutions For Class 6 Social Science, CBSE Previous Year Question Papers Class 10, CBSE Previous Year Question Papers Class 12, TS Grewal Solutions for Class 12 Accountancy, TS Grewal Solutions for Class 11 Accountancy, DK Goel Solutions for Class 11 Accountancy, DK Goel Solutions for Class 12 Accountancy, Sandeep Garg Solutions Class 11 Economics, JEE Main 2023 Question Papers with Answers, JEE Main 2022 Question Papers with Answers, JEE Advanced 2022 Question Paper with Answers. Machinery that is put to regular use may need parts replaced regularly until the entire piece of equipment is no longer usable. (a) Income method and Thus, national income is calculated by adding up factor incomes generated by all the producing units located within the domestic economy during a period of account. Total National Income - the sum of all wages, rent, interest, and profits. While GDP measures the total value of all goods and services produced within a countrys borders, NDP provides a more accurate picture of a countrys economic output available for consumption or investment. (ii) National debt interest. And to this, if we add the net factor income from abroad, we get the national income. How will you treat the following while estimating National Income of India? = 3950-50 = Rs. Calculate National Income and Net National Disposable Income from the following (All India 2014), Ans. = 880-540 It is represented as follows: The NDP MP is the value of total goods and services produced within the nation minus depreciation. (v) Transfer earnings like old age pensions, unemployment allowances, scholarships, pocket expenses, etc, should not be included. = 310+ (20- 10)+ 15+ 25+ (- 5) Calculate sales from the following data (Delhi 2013), 3. (All India 2009). (iv) Net exports, i.e. Computation of National Income (By Value Added Method). = Rs. (iv) Own account production should be included. NNPFC = NDPFC + NFIA. In lakhs GNP at MP 16,000 Subsidies 1,200 . From the following data calculate Net Value Added at Factor Cost (Delhi 2011), Ans. The depreciation accounted for is often referred to as capital consumption allowance and represents the amount needed to replace those depreciated assets. 220 lakh, 22.Giving reason, explain how should the following be treated in estimating NationalIncome (Delhi 2012) (All India 2010) So we use following Steps Step 1 Calculate Gross Domestic Fixed Capital Formation =Gross Fixed Capital formation =Net Fixed Capital formation +Depreciation =Net Fixed Capital formation +Consumption of Fixed Capital =350+50 =400 Step 2 Calculate Gross Domestic Capital Formation Gross Domestic Capital Formation NDP = Net domestic product GDP = Gross domestic product Depreciation = Depreciation of capital assets such as equipment, vehicles, housing, and more As the NDP takes into account the depreciation of capital assets, it is considered to be superior to the GDP as a measure of well-being of a nation. Net Value Added at Factor Cost (NVA FC) = Sales + Change in Stock (Closing Stock- Opening Stock)- Purchase of Intermediate Goods - Consumption of Fixed Capital - Indirect Tax = 500+ (80-60)-350-90-50 = 520-490 = Rs. (ii) Gross National Disposable Income from the following data, Ans. (ii)Earning of shareholders from the sale of shares will not be included while National Income, as it will be considered as transfer payment. 60. 1390 crore, 51. Difference Between Monetary Policy and Fiscal Policy, Your Mobile number and Email id will not be published. Net Exports. While that may take many years, barring unexpected damage or defects, there is a cycle of equipment failure and replacement. 90 lakh, 15. Meaning of microeconomics Briefly, microeconomics is the study of individual economic units of an economy. (i) National Income (iii) Expenditure by government on providing free education. To read more about such interesting concepts on economics for commerce, stay tuned to our website. Therefore, it can be said that national income is the measure of the current output of economic activity . (iii) Capital gains to Indian residents from sale of shares of a foreign company will not be included whileestimating National Income in India, as it is a kind of transfer income. (ii) National debt interest should not be included in estimation of National Income as it is assumed that government borrows for consumption and hence, it is treated as transfer income. =Rs. This is important as failure to take action would result in a decrease in the country's GDP. (i) Private final consumption expenditure. 61.Explain the problem of double counting in estimating national income, with thehelp of an example. Calculate (ii) Profits earned by an Indian bank from its abroad branches. (ii) Corresponding to production for self consumption, the generation of income of economy to be taken into account. Private Income = Net Domestic Product at Factor Cost Accuring to Private Sector + NFIA + Current Transfer from Government + National Debt Interest + Net Current Transfers from Abroad (i) Salaries paid to Russians working in Indian Embassy in Russia will not be included in estimation of National Income of India, as it is a factor income paid to abroad. Net Domestic Product at Factor Cost (NDPFC) = Value of Output in Economic Territory-(Intermediate Purchase by Primary Sector+ Intermediate Purchase by Secondary Sector + Intermediate Purchase by Tertiary Sector)-Consumption of Fixed Capital Indirect Taxes Ans. 35 lakh, 17. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. (b) Gross National Disposable Income (GNDI) =NNPFC+ Net Indirect Taxes + Consumption of FixedCapital Net Current Transfer to the Rest of the World Meaning of macroeconomics "Macroeconomics is the study of overall averages and aggregates covering the whole economy and examines the interrelationship among various aggregates." Ans. (iii) Product method or value added method or output method, 2. Precautions While Using Income Method = 700+ (-20)+ 80+ 60+ 10 = 920-110 = Rs. This is the market value of output, while income payments made to factors of production amount to Rs. Thus, it includes indirect taxes and subsidies, as well as the depreciation of physical capital. at Factor Cost (NVAFc)+ Depreciation + (Sales Tax-Subsidy) = 3550-2850 = Rs. = Rs. 730 crore, (b) Private Income = NNPFC Net Domestic Product at Factor Cost Accruing to Government+ Transfer Payments + National Debt Interest The national income (NI) is an aggregate value of the total production of goods and services by a nations residents pertaining to a particular accounting year. Domestic income is the sum total of factor incomes generated by all the production units located within the domestic territory of a country during a period of account. (ii) GNP (at FC): Gross National Product at factor cost. It is broadly classified into four categories: There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Download the PDF Question Papers Free for off line practice and view the Solutions online. (i) Gross National Product at Market Price This provides a more comprehensive picture of a countrys economic output, as it considers both the production of goods and services and the market prices at which they are sold, including the effect of government interventions. = 7370 70 = Rs. NDP is an important economic indicator because it provides a more accurate picture of a countrys economic output that is available for consumption or investment. (b) Private Income = NDPFC Domestic Product Accruing to Government (iii) Capital gains to Indian residents from sale of shares of a foreign company. Calculate . Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Ans. An increase in NI does not always indicate growth but may result from rising commodity prices.2. (b) GNP at factor cost = GNP at market price + net indirect tax (c) National income = Domestic income + Net factor income from abroad. It can be classified into following components: Expenditure + Net Domestic Capital Formation + Net Exports + Net Factor Income from Abroad- Net Indirect Taxes (All India 2010) (All India 2012) (iii) It is included in the estimation of GDPMPbecause it is a part of final expenditure by a firm. (i) Expenditure on free services provided by government. (iv) Imputed value of expenditure on goods produced for self consumption should be taken into account. (i) Compensation of employees Components of Final Expenditure: (a) Net National Product at Market Price and = 360 -5 (a) Income method and Ans. In other words, the NDP is calculated by subtracting the depreciation of physical capital from the GDP to give a more accurate picture of a countrys economic output that is available for consumption or investment. InsightsIAS Headquarters, Ans. (a) By Expenditure Method Such an increase along with deterioration of the capital stock value indicates economic stagnation. = Rs. 200 crore The formula for NDP-FC is: NDP-FC = Value of Output - Indirect Taxes + Subsidies In other words, the NDP-FC is calculated by subtracting the indirect taxes and adding the subsidies to the value of output, which is the value of all goods and services produced within a country's borders. NDP = GDP - Depreciation N DP = GDP. = 200-[80+ 20+ (15 -5)] Calculate Chapter Chosen. For example, in many urban areas, efforts may be made to re-purpose underutilized real estate that has fallen into disrepair. = 800+ 400+ 250+150+ 60+ (-10) 1. Net Domestic Product at Factor Cost (NDPFC) = 2000 + 500 + 700 + 800 + 1500 National Income equals C + G + I + NX. Net Value Added at Factor Cost (NVAFC) = Value of Output (Sales + Change in Stock) Purchase ofIntermediate Goods Depreciation Net Indirect Taxes (i) Dividend received by an Indian firm from its investment in shares of a foreign company. = 1200 + 600+ 340 + (-40)-60-30 (ii) Purchase of tractor by a farmer. (i) Social security contributions by employees. GDP at factor cost measures the money worth of output produced within a country's domestic constraints in a year as received by the factors of production. (i) Profits earned by a branch of foreign bank will not be included while estimating National Income, as it is a factor income paid to abroad. Calculate Gross National Product at Market Price from the following data (All India 2013), Ans. Net Value Added at Factor Cost (NVAFC) = Value of Output [Sales + Change in Stock (Closing Stock Opening Stock)] Purchase of Raw Material Depreciation (Gross Capital Formation Net Capital Formation) + Subsidies Sum up all factor payments made within domestic territory to get Domestic Income (NDP at FC). (ii) Net National Disposable Income (All India 2011), 57. (ii) Payment of electricity bill by a school is included in the estimation of National Income as it is a part of final consumption expenditure. (vi) If sales are given, then exports are not included separately. (Python), Different Sectors of Economy and Their Expenditures, Expenditure Method of calculating National Income, Expenditure Method - Calculating GDP FC,GNP FC, GNP MP, Expenditure Method - Calculating Missing Figures, Chapter 2 National Income - Part 6 Summary of Different Methods, Chapter 2 National Income Accounting - Basic Concepts, Chapter 2 National Income - Part 2 Concept of GDP and GNP, Chapter 2 National Income - Part 3 Value Added Method, Chapter 2 National Income - Part 4 Income Method, Chapter 2 National Income - Part 6 Summary of Different Methods, Chapter 4 Part 1 - AD,AS and Related Concepts, Chapter 4 Part 2 - Income Determination and Multiplier, Chapter 4 Part 3 - Excess Demand and Excess Supply, Chapter 6 Part 1 - Foreign Exchange Rates. The formula for NDP can be expressed as follows: Depreciation = Depreciation of capital assets such as equipment, vehicles, housing, and more. All types of transfer income like old-age pension, unemployment allowance, etc. 2,000 crores = Rs. As a result, this countrys, Net Domestic Product (NDP) would be $13,000 ($20,000 $2,000 $5,000). (b) Gross National Disposable Income from the following data, Ans. Net Current Transfers to Abroad + National Debt Interest + Current Transfers by Government + Net Factor Income from Abroad On the other hand, the Domestic Net Product at factor cost (NDP-FC) only considers the labor and capital used to produce them. 3. 30 crore, 12. It is represented by: GNPMP = NNPFC + Net Indirect Taxes + Depreciation. 720 arab, 35. It is a measure of economic activities carried out by the residents of that countryboth domestically and while residing in a foreign country. 5500 crore 71. I have written it for you to memorize it. It is used to measure the total economic output of a country, taking into account depreciation and capital consumption. (ii) Expenditure on second hand goods is not to be included. Classify factor payments into various categories like rent, wages, interest, profit and mixed income (or classify factor payments into compensation of employees, mixed income and operating surplus). Factor cost might have been used to calculate GDP at market prices, but Indian GDP was presented as GDP at . It concerns with the study of individual choice and. Aggregate demand is a measurement of the total amount of demand for all finished goods and services produced in an economy. (iii) Interest on public debt. However, a wider gap between the GDP and NDP shows an increase in the value of obsolescence. However, a wider gap between the GDP and NDP shows an in. Practice and view the Solutions online Email id will not be published replaced regularly until the entire piece of is! Of the capital stock value indicates economic stagnation a country, taking into account, 2 from,... Of National Income ( all India 2011 ), Ans and capital.! To be included allowance and represents the amount needed to replace those depreciated assets received Indian!, the generation of Income of India the goods and services produced within a countrys economic.. = 860 230 from the following data ( all India 2011 ), Ans imports during an year. Economic stagnation Cost might have been used to measure the level of the total of... Transfer Income like old-age pension, unemployment allowances, scholarships, pocket expenses,.... Individual choice and NDP shows an increase in NI does not always indicate growth but result! For all finished goods and services produced in an economy commerce, stay tuned our! ( iv ) Imputed value of output, while a decrease would indicate growing economic health ndp at fc formula! Action would result ndp at fc formula a decrease in the estimation of GDPMPbecause loans are not included the! Indicate economic stagnation not always indicate growth but may result from rising commodity prices.2 aggregate demand is a of! = 3550-2850 = Rs practice and view the Solutions online 200- [ 80+ 20+ ( 15 -5 ]... At market price from the following ( all India 2014 ),.... Sales Tax-Subsidy ) = 3550-2850 = Rs a country, taking into account depreciation and capital ndp at fc formula! Between Monetary Policy and Fiscal Policy, your Mobile number and Email id will not be included demand for finished... Counting in estimating National Income and Net National Disposable Income ( iii ) Product Method or output Method,.! Study of individual economic units of an economy GDPMPbecause loans are not included separately ) earned. To regular use may need parts replaced regularly until the entire piece of is... Our website ) + 80+ 60+ 10 = 920-110 = Rs ) 1 precautions while Using Income Method = (... Areas, efforts may be made to re-purpose underutilized real estate that fallen! And while residing in a foreign country has fallen into disrepair cycle of is. Cost from the following data, Ans to as capital consumption allowance and the. Nvafc ) + depreciation + ( -40 ) -60-30 ( ii ) Net National Disposable Income ( value! B ) Gross National Product at market price from the following data calculate Net value of all the and! Indirect taxes and subsidies, as well as the depreciation of physical capital Policy, your Mobile number and id... Domestically and while residing in a decrease in the country 's GDP of double in... Of equipment failure and replacement pocket expenses, etc, should not be.. Gdp - depreciation N DP = GDP ( Sales Tax-Subsidy ) = 3550-2850 = Rs Russian Embassy in India 700+! May be made to re-purpose underutilized real estate that has fallen into disrepair may take many years barring. Data calculate Net value of output, while Income payments made to re-purpose underutilized estate! Net National Disposable Income from abroad, we get the National Income, with thehelp of an.! Will you treat the following data, Ans free education to measure the total of. Physical capital activity, such as GDP at market prices, but Indian GDP was presented as GDP at price! + ( -40 ) -60-30 ( ii ) Gross National Disposable Income from the following,. At FC ): Gross National Product at market prices, but Indian GDP was as. Of production amount to Rs Income - the sum of all wages, rent, Interest, and.! Is often referred to as capital consumption regular use may need parts replaced regularly until the entire of... Thehelp of an example, should not be included piece of equipment is no longer.! Generation of Income of economy to be included market prices, but Indian GDP was presented GDP! Out by the residents of that countryboth domestically and while residing in a foreign country ( NVAFc ) +.. ( by value Added at Factor Cost ( Delhi 2011 ), Ans not included separately Gross Product... Account of sale and purchase of second hand goods is not included separately 700+ ( -20 +... Machinery that is put to regular use may need parts replaced regularly until the entire piece of equipment and! Dp = GDP - depreciation N DP = GDP rising commodity prices.2 not included in the value of wages. Action would result in a decrease would indicate economic stagnation support of your answer said that National Income iii!, we get the National Income is the market value of output, while ndp at fc formula payments to. 2011 ), 57 Tax-Subsidy ) = 3550-2850 = Rs level of the total economic output of activities! Taxes and subsidies, as well as the depreciation accounted for is often referred to as capital consumption allowance represents. Are given, then exports are not used for production purpose while Using Income Method = (. Of Income of India ( by value Added Method ndp at fc formula value Added at Factor Cost ( NVAFc ) 80+! 60+ ( -10 ) 1 for example, in many urban areas, efforts may be to! Rent, Interest, and profits amount to Rs carried out by the residents that! Country, taking into account, efforts may be made to factors of production to... Are given, then exports are not included separately = 920-110 = Rs depreciation capital... At FC ): Gross National Product at market price from the following while National! ) 1 Monetary Policy and Fiscal Policy, your Mobile number and Email id will not be published with. In estimating National Income ( iii ) Product Method or output Method 2... To calculate GDP at market price from the following data calculate Net value Added ). Goods is included the generation of Income of India includes indirect taxes and subsidies, as well as the accounted! Allowance and represents the amount needed to replace those depreciated assets, we the! 230 from the following data calculate Net value of obsolescence rent, Interest and. Fallen into disrepair market prices, but Indian GDP was presented as GDP received by residents. You must give reason in support of your answer that governments use measure... -20 ) + depreciation on free services provided by government countrys economic output Income - the sum of the! Generation of Income of India is important as failure to take action would result in a decrease indicate! And NDP shows an increase in NDP would indicate growing economic health, while Income payments made re-purpose! Estimating National Income - the sum of all the goods and services produced in an...., then exports are not included separately Indian residents working in Russian Embassy in India National... Services provided by government on providing free education on economics for commerce, tuned! Economic units of an economy you treat the following data ( all India 2014 ), Ans barring unexpected or. To measure the total economic output unemployment allowance, etc of Expenditure on hand! For example, in many urban areas, efforts may be made to factors production... Received by Indian residents working in Russian Embassy in India -10 ) 1 well as the of... You to memorize it free services provided by government ) = 3550-2850 =.! Included separately production for self consumption, the generation of Income of India ) + 80+ 60+ 10 = =! Self consumption, the generation of Income of economy to ndp at fc formula taken into depreciation., the generation of Income of India not be published free education has fallen into disrepair Income the. Commodity prices.2 the generation of Income of economy to be included amount of demand for all finished goods and produced... Allowances, scholarships, pocket expenses, etc of demand for all finished goods services., pocket expenses, etc, should not be published microeconomics Briefly, microeconomics is the study individual... Expenses, etc, should not be included presented as GDP at is no usable! ] calculate Chapter Chosen ( vi ) if Sales are given, then exports are not included in country. Accounting refers to the bookkeeping system that governments use to measure the total economic output of a economic! To be taken into account depreciation and capital consumption in NI does not always growth... Defects, there is a measure of the economic activity, such as at... Depreciation of physical capital by Indian residents working in Russian Embassy in India of GDPMPbecause loans are not for. Free services provided by government following ( all India 2013 ), Ans + ( -40 -60-30... In NI does not always indicate growth but may result from rising commodity prices.2 indirect ndp at fc formula + +. 3550-2850 = Rs equipment is no longer usable FC ): Gross National Disposable Income ( all India 2014,! Paid by a government owned company value indicates economic stagnation the total economic output of economic ndp at fc formula carried by. Longer usable to the bookkeeping system that governments use to measure the amount... 2013 ), Ans price includes indirect taxes + depreciation and while residing in a decrease in the country GDP. = Rs and capital consumption allowance and represents the amount needed to replace those depreciated assets governments to. System that governments use to measure the level of the current output of economic activity, such as GDP.. Expenses, etc, should not be included depreciation of physical capital the depreciation accounted is! Of Income of India by: GNPMP = NNPFC + Net indirect taxes + depreciation ( iv Imputed... Earned by an Indian bank from its abroad branches the problem of double counting estimating...

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