National Income - NI
National Income - NI
National Income:
The total amount of income accruing to a country from economic activities in a years time is known as national income. It includes payments made to all resources in the form of wages, interest, rent and profits. J.M.Keynes, a famous economist defined national income as follows -
"National Income is the money value of all goods and services produced in u country during a year".
Importance of National Income Analysis:
1. Economy:
National income data are of great importance for the economy of a country These days the national income data are regarded as accounts of the economy, which are known as social accounts. These refer to net national income and net national expenditure, which ultimately equal each other.
2. National Policies:
National income data form the basis of national policies such as employment policy, because these figures enable us to know the direction in which the industrial output, investment and savings, etc. change, and proper measures can be adopted to bring the economy to the right path.
3. Economic Planning:
For economic planning, it is essential that the data pertaining to a country's gross income, output. saving and consumption from different sources be available. Without these, planning is not possible.
Students / Parents Reviews [10]
A marvelous experience with Abhyas. I am glad to share that my ward has achieved more than enough at the Ambala ABHYAS centre. Years have passed on and more and more he has gained. May the centre flourish and develop day by day by the grace of God.
Archit Segal
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Cheshta
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Manish Kumar
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Aman Kumar Shrivastava
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Ayan Ghosh
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7thMy experience with Abhyas academy is very good. I did not think that my every subject coming here will be so strong. The main thing is that the online tests had made me learn here more things.
