Indian History

National Income

The National Accounts Division (NAD) of the National Statistic Office(NSO) is responsible for preparation of national accounts, which include the estimates of Gross Domestic Product (GDP), National Income, Government/Private Final Consumption Expenditure, Capital Formation and Saving along with details of transactions of institutional sectors. NAD annually brings out a publication titled “National Accounts Statistics”, containing these statistics.

The new series on National Accounts Statistics (NAS) was introduced on January 30, 2015 with base year 2011-12 in place of previous series with base year 2004-05. National Income is measured in three ways i.e Prduction Method, Income Method, Expenditure Method. Net National Product (NNP) at factor cost is called Natinal Income.

NNP at factor cost = GNP at factor cost-depreciation.