The National Income is estimated by the Central Statistical Organisation.
It works under the Ministry of Statistics and Programme Implementation and carries out statistical activities in India, including National Income Accounting, Economic Census, etc.
Established in 1955, the CSO employs the Product method, Income method, and Expenditure method to calculate the National Income. It has divided the economy into Primary, Secondary, and Tertiary sectors for the evaluation of data.
The National Income Unit of CSO is responsible for estimating the major part of national income.
Calculation of National Income helps to determine a conceptual and comprehensive framework for understanding the short-run performance of the economy.
The important factors to determine the national income are GDP (Gross Domestic Product), GNP (Gross National Product), NNP (Net National Product), personal income, disposable income, etc.
The National Income Committee, formed in 1949, calculated the National Income of India and compiled statistics in the post-independence period. It was headed by PC Mahalanobis and the members were D.R Gadgil and V.K.R.V Rao.
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