Why interest paid by banks on …
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Meghna Thapar 5 years ago
Interest paid by banks on deposits by individuals. Payment of interest by a government firm. Yes, it will be included in the national income as such interest is paid on loan taken for productive purpose. No, as national income is at factor cost so no subsidy would be accounted. It is not included in national income because national income is found out at 'factor cost' which excludes subsidies from the government which are nothing but economic assistance given by the government to reduce the market price of a commodity.
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