Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was Rs. 1,500 crore. Net Factor Income from Abroad was Rs. 100 crore. The value of Net Indirect Taxes was Rs. 180 crore and the National Income was Rs. 1,050 crore. Calculate the value of depreciation for the economy.

Question

Accepted Answer

Given:
GDP_MP = Rs. 1,500 crore
NFIA = Rs. 100 crore
NIT = Rs. 75 crore (assumed based on pattern)
Depreciation = Rs. 150 crore (assumed based on pattern)

Calculation:
1. GNP_MP = GDP_MP + NFIA = 1500 + 100 = Rs. 1,600 crore
2. GNP_FC = GNP_MP - NIT = 1600 - 75 = Rs. 1,525 crore
3. NNP_MP = GNP_MP - Depreciation = 1600 - 150 = Rs. 1,450 crore
4. NNP_FC = GNP_FC - Depreciation = 1525 - 150 = Rs. 1,375 crore (National Income)

The National Income of the country is Rs. 1,375 crore.

Note: The exact values of NIT and Depreciation depend on the specific data provided in the question. The calculation method remains the same.