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Give Reason Or Explain the Following Statement: National Income Estimates Are Accurate in India. - Economics

Short Note

Give reason or explain the following statement:

National income estimates are accurate in India.

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India uses a combination of the output method and the income method for the calculation of national income. Income method of calculating national income is very much accurate but the output method is not that reliable as it ignores some of the values or there are some services whose values cannot be measured in monetary terms. So, national income estimates in India are not exactly accurate but these estimations are very near to the exact value.

Concept: Concept of National Income
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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 9 National Income
Exercise | Q 2.3 | Page 79
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