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प्रश्न
Differentiate between personal income and private income.
Make a comparison between private income and personal income.
State the difference between the following:
Private Income and Personal Income
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उत्तर
| Sr. No. | Personal income | Private income |
| 1. | It is the income that individuals actually receive from all the sources. | It is the income accruing to the private sector from all sources. |
| 2. | Corporate savings and corporate taxes remain excluded from personal income. | Both corporate savings and corporate taxes are parts of private income. |
| 3. | Personal Income = Private Income − (undistributed profits of the enterprises + corporate taxes + Contribution of the enterprises towards social security schemes) | Private income is income accruing from domestic product + net factor income earned abroad + interest on national debt + net current transfer payments from the government + the rest of the world. |
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संबंधित प्रश्न
Find national income and private income:
| (Rs crore) | ||
| (i) | Rent | 200 |
| (ii) | Net current transfer to abroad | 10 |
| (iii) | National debt interest | 60 |
| (iv) | Corporate tax | 100 |
| (v) | Composition of employees | 900 |
| (vi) | Current transfers from government | 150 |
| (vii) | Interest | 400 |
| (viii) | Interest | 50 |
| (ix) | Undistributed profits | 250 |
| (x) | Net factor income to abroad | (-)10 |
| (xi) | Income accruing to government | 120 |
Calculate National Income and Private Income :
| (Rs crores) | ||
| (i) | Net imports | 5 |
| (ii) | Net domestic capital formation | 15 |
| (iii) | Personal income | 90 |
| (iv) | National debt interest | 10 |
| (v) | Corporate tax | 25 |
| (vi) | Government final consumption expenditure | 20 |
| (vii) | Net factor income to abroad | (−) 5 |
| (viii) | Net indirect tax | 10 |
| (ix) | Undistributed profits | 0 |
| (x) | Private final consumption expenditure | 100 |
What is Private Income?
Which items are included in Private Income?
Which statement gives the definition of Private Income according to C.S.O.?
Private income refers to income obtained by private individuals from which source?
Which expression represents Private Income under the Domestic Product Approach?
Which expression represents Private Income under the National Income Approach (NNP at Factor Cost)?
Why is Government property & entrepreneurship income deducted from National Income in calculating Private Income?
Why are savings of non-departmental government enterprises deducted from National Income?
Why are Net current transfers from government added to National Income?
Why are Net current transfers from abroad added to National Income?
Private Income is used to assess which income for policy and tax decisions?
From which aggregate is Private Income derived by deducting government income and adding transfer payments?
Which statement correctly distinguishes Private Income from personal income?
