Understanding Concepts of National Income in Economics

Explore the concepts of national income presented by Dr. Rashmi Pandey, covering key indicators such as Gross National Product (GNP), Gross Domestic Product (GDP), Net National Product (NNP), Net Domestic Product (NDP), Personal Income, Disposable Income, Per Capita Income, and Real Income. Gain insights into components like Gross Domestic Product at Market Price (GDPMP), Net Factor Income from Abroad, Net National Product at Market Price (NNPMP), and Net Domestic Product at Market Price (NDPMP) along with their significance in economic analysis.

• National Income
• Economics
• Dr. Rashmi Pandey
• GDP
• GNP

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1. CONCEPTS OF NATIONAL INCOME CONCEPTS OF NATIONAL INCOME PRESENTED BY PRESENTED BY DR.RASHMI PANDEY DR.RASHMI PANDEY ASST.PROFRSSOR ASST.PROFRSSOR ECONOMICS ECONOMICS

2. 1. GROSS NATIONAL PRODUCT(GNP) 2. GROSS DOMESTIC PRODUCT(GDP) 3. NET NATIONAL PRODUCT(NNP) 4. NET DOMESTIC PRODUCT(NDP) 5. PERSONAL INCOME 6. DISPOSABLE INCOME 7. PER CAPITA INCOME 8. REAL INCOME

3. (GDPMP) (Gross Domestic Product at Market Price): ( ), (GDPMP) - , , ( - ) , (GDPMP)

4. (Features of Gross Domestic Product): i. ii. (Gross) (Depreciation) (Consumption of Fixed Capital) iii. , , iv. v. vi. 2006 GDP 2006 , 2005 , 2006

5. 2. (GDPMP) (Gross National Product at Market Price): , (GDPMP)

6. (Net Factor Income from Abroad): ( , , ) , ,

7. (Components of Net Factor Income from Abroad): (i) (Net Compensation of Employees): , (ii) ( ) [Net Income from Property and Entrepreneurship (Other than Retained Earnings of Resident Companies of Abroad)]: , , (iii) (Net Retained Earnings of Resident Companies Abroad):

8. 3. (NNPMP) (Net National Product at Market Price): - , (GNP) (Depreciation) (NNP) (National Income at Market Price)

9. (Components of Depreciation): i. - (Normal Wear and Tear); ii. (Obsolescence): iii. (Accidental Breakdown of Machinery):

10. 4. (NDPMP) (Net Domestic Product at Market Price): (NDPMP) (GDPMP) (NDPMP) (GDPMP) , (NDPMP) , -

12. 5. (Net Domestic Income): (NDY) (NDPFC) , , [ ] = [ ] ( + + + )

13. 6. (Gross Domestic Income) (GDPFC) (Gross Domestic Product at Factor Cost): (GDPFC) , , (GDPFC) ( ) , (NDPFC)

14. 7. (NNPFC) (Net National Product at Factor Cost) (National Income): (NNPFC) , , , ( + + ) (NNPFC)

15. (NNPFC)

16. 8. (GNPFC) (Gross National Product at Factor Cost): ( ) (GNPFC)

17. 9. (Private Income): ( , , , , ) - ( ) , , , , ,

18. 10. (Personal Income): , (Computation of Personal Income): : i. (Items to be Deducted): (a) (Corporate Income Tax): (b) (Undistributed Corporate Profit): ,

19. (c) (Deductions for Social Security): , ii. (Items to be Included): , , - ,

20. 11. (Personal Disposable Income): , ; - , - -

21. 12. (National Disposable Income, NDI): , ,