Question

From the following data, estimate the value of Net Indirect Taxes (NIT): 

S. No.	Particulars	Amount (in ₹ crore)
(i)	Net National Product at Market Price (NNPMP)	1,400
(ii)	Net Factor Income from abroad	(−) 20
(iii)	Gross National Product at Factor Cost (GNPFC)	1,300
(iv)	Consumption of fixed capital	100

Answer 1

NNP^MP= GNP^FC + NIT − Depreciation

1400 = 1300 + NIT − 100

1400 = 1200 + NIT

NIT = ₹ 200 crore