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Ask QuestionPosted by Subhransu Sekhar Sahoo 6 years, 9 months ago
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Yogita Ingle 6 years, 9 months ago
In the initial years of planning, India followed the lines of being a socialist economy. Public sector was accorded a dominant role in the growth and development process. However, in the long run it was found that the public sector was plagued with inefficiencies and incurred huge losses. Moreover, excessive control on the private sector hampered their growth and the industrial sector lacked modernisation. All these factors lead to the stagnation of the Indian economy. Thus, in order to boast up growth in the country and to reduce the inefficiency in the public sector, India adopted moved towards being a mixed economy.
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Yogita Ingle 6 years, 9 months ago
Methods of Measuring National Income
- Product Method:Under this method, we add the values of output produced or services rendered by the different sectors of the economy during the year in order to calculate the National Income. In this method, we include only the value added by each firm in the production process in the output figure.
- Income Method: Under this method, we add all the incomes from employment and ownership of assets before taxation received from all the production activities in an economy. Thus, it is also the Factor Income method. We also need to add the undistributed profits of the private sector and the trading surplus of the public sector corporations.
- Expenditure Method:This method measures the total domestic expenditure of the economy. It consists of two elements, viz. Consumption expenditure and Investment expenditure. Consumption expenditure includes consumption expenditure of the household sector on goods and services and consumption outlays of the business sector and public authorities.
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Sia ? 6 years, 9 months ago
Franz did not want to go to school that day as he had not prepared his lesson on participles. It seemed more exciting to him to stay outdoors as it was such a bright and warm day. The idea of staying outside the school fascinated him more as he had not done his home assignment.
Aastha Saxena 6 years, 8 months ago

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