Calculate Private income from the following data:

CBSE Class 12 CBSE Class 12 Economics
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1

Calculate (a) Net Domestic Product at Factor Cost and (b) Private income from the following data:

2

(a) $ND{{P}_{FC}}$ = Wages and Salaries + Rent + Interest Paid by Production Units + Corporation Tax + Dividends + Undistributed Profits

  • Contribution to Social Security Schemes by Employers
    = 1000+100+130+50 +100+20+200 = Rs 1600 crore
    (b) Private Income = $ND{{P}_{FC}}$ - Domestic Product Accruing to Government - Net Current Transfers to Abroad + National Debt Interest + Current Transfers by Government + Net Factor Income from Abroad
    = 1600 - 300- (- 20)+ 30 + 40 + 0 = Rs 1390 crore