National Income of India

National Income of India :

Hi Everyone this is sasi, thank you for visiting my blog. In this article mainly ,I discuss about the National Income of India. 

• National income measures the net value of goods and services produced in a country and net earned foreign income during a year. National income is a flow not a stock and it measures the flow of goods and services in an economy. 
• To estimate the National Income, first attempt was made by Dadabhai Naoriji in his book, poverty and Un -British Rule in India.
• Professor VKRV Rao in 1931,divided Indian economy into 13 sectors. 
• The Government of India appointed a National Income Committee under the chairmanship of Dr PC Mahalanobis in 1949.
• In January 2015, the Central Statistical Organisation ( CSO) introduced the new series of National Account Statistics ( NSA) with the base year 2011-12 ( seventh series of the base year) in place of the previous series with the base year 2004-05.