Important Facts on Methods of National Income Estimation
Check the important facts on the Method of National Income Estimation that will help you understand the calculation method.
- The output method is used for six sectors: animal husbandry, agriculture, fishery, forestry, mining, and factory establishments.
- The income methods are used for the remaining seven sectors, i.e., small enterprises, commerce, transport and communications, banking and insurance, professions, liberal arts, domestic services, house property, public authorities, and the rest of the world.
- One of the units of CSO also calculates the remaining sector's national income by different methods.
- The CSO has three different series for India's national income estimates, i.e., Conventional Series, Revised Series, and New Series.
The National Income Estimation in India is the Responsibility of?
The cabinet secretariat set up the central statistical organization responsible for statistical activities in India on 2 May 1951. The national income estimation is the responsibility of the central statistical office.
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