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Unit 2: National Income
Notes
!
Caution
Avoid double counting of goods.
Expenditure on purchase of second hand goods is excluded.
Expenditure on purchase of old share is excluded.
Government expenditure on all transfer payment is excluded.
Table 2.3: Calculation of National Income by Product, Income and Expenditure Methods
Tasks Find out the National Income of India for last 10 years and analyse the trend.
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