Calculate National Income from the Following Data - Economics

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Calculate National Income from the following data:

S.No. Particulars Rs.in crores
(i) Private final consumption expenditure 900
(ii) Profit 100
(iii) Government final consumption expenditure 400
(iv) Net indirect taxes 100
(v) Gross domestic capital formation 250
(vi) Change in stock 50
(vii) Net factor income from abroad (-)40
(viii) Consumption of fixed capital 20
(ix) Net imports 30
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Solution

NNPFC = Private Final Consumption Expenditure + Government Final Consumption Expenditure − Net Imports + Gross Domestic Capital Formation − Consumption of Fixed Capital − NIT + NFIA

            = 900 + 400 − 30 + 250 − 20 − 100 + (−40)

            = Rs 1,360 crore

(Note: Change in stock is not considered as it is a part of the gross domestic capital formation)

  Is there an error in this question or solution?
2012-2013 (March) Delhi Set 1

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PASSAGE

Corona has slowed down the economy Lockdown imposed to contain the spread of Corona virus had resulted in closure of manufacturing and business activities. During this financial year, the economy is expected to move towards a contractionary phase rather than expansionary phase. This has been stated in the budget. This is the first paperless budget in the history of India. At the same time, it is the third post-independence budget to be presented at a time when the economy is shrinking. The budget shows a fiscal deficit of more than 5%.

The Union Finance Minister has presented a budget that seeks to accelerate the economy by balancing the impact of Corona on the economy on one hand and growing expectations of all sectors on the other. A significant increase in the allocation for Healthcare by 137% is a feature of this budget. In this budget, the expected revenue for the year 212-2022 is Rs. 34,35, 000crore and the expected expenditure is Rs. 35,83, 000 crore.

Attempts have been made to boost infrastructure, education, agricultural production, employment generation and industry, but the Income tax status quo has remained the same. The budget provides Rs.16.5 lakh crore for agricultural credit, Rs. 223,000 crore for health facilities, Rs. 3 lakh crore for Power Distribution Scheme, Rs. 15,700 crore for Small and Medium Enterprises and Rs. 20,000 crore for Government Bank Capital.

  1. What is the percentage increase in the provision for Healthcare? (1 mark) 
  2. Mention the sectors that have been promoted in this budget. (1 mark) 
  3. Express your personal opinion based on the above information regarding the budget ( 2 marks)

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The volume of commodities and services turned out during a given period counted without duplication.


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Explain the meaning of national income.


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