GDP - IV

Other Useful fundas

• Calculating National Income From GDP

GDP calculated from the above methods is GDP at factor cost (i.e factory cost, tht means factory main us prepared products ka kya value hain)

GDP at market price = GDP at factor cost + net indirect taxes - subsidies

GNP (Gross National Product) at market price = GDP at mp + net factor income from abroad

NNP at mp = GNP at mp - Consumption of fixed capital ( depreciation)

NNP at factor cost = NNP at mp - net indirect taxes + subsidies = NATIONAL INCOME

where,net factor income from abroad is the income attributable to factor services rendered by the normal residents of the country to the rest of the world less factor services rendered to them by the rest of the world.

Note :- In India, the difference between NI and GDP in terms of value is very insignificant. As such , at time they are taken the same.

Per Capita Income = National Income / Population