Maharashtra State BoardHSC Commerce 12th Board Exam
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Identify and explain the following concept: Vrinda receives monthly pension of Rs. 5,000/- from the State Government. - Economics

Short Note

Identify and explain the following concept:

Vrinda receives monthly pension of  Rs. 5,000/- from the State Government.

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Solution

Concept: Transfer payments

Explanation:

Transfer payments refer to the one-way payment of money for which no money, good, or service is received in exchange. Government use transfer payments as a means of income redistribution.
E.g.: pension, scholarship, grants, unemployment allowance, etc.

Concept: Different Concepts of National Income
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 7 National Income
Exercise | Q 4. (1) | Page 69
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