National Income Concepts

National Income Concepts include
1.    Gross Domestic Product: This equal to gross domestic product at cost plus indirect taxes.
2.    Indirect taxes which includes excise duties, sates tax, stamps, imports and exports.
3.    Net factor income form abroad
4.    Transfer of income form government and other private sectors.
5.    Corporate tax which are direct taxes on companies.
6.    Mixed income which consists of wages of workers and profit of the enterprises.
7.    Industry comprising of registered menu-factures, constructions, electricity etc.
8.    Services: Services includes services rendered by hospitals, hotels, railways, banks, insurance
        firms, defense and legal services.
9.    Savings of private sectors
10.  Direct taxes paid by households
Apart from these, educational services, R&D, entertainment, agriculture, fishery, forestry, etc. come under the national income.

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