- Unemployment –
- A person working 8 hours a day for 273 days of the year is regarded as employed on a standard person year basis.
- B Bhagwati committee (1973), setup by planning commission gave three estimates of unemployment –
- Usual principal status (UPS).
- Employed persons who remains unemployed for a major part of the year, also called open unemployment.
- Current weekly status (CWS).
- Unemployed persons who did not find even an hour of work during the survey week.
- Current daily status (CDS).
- Persons who did not find work on a day or some days during the survey week.
- This is comprehensive measure of unemployment including chronic as well as under unemployment.
- Usual principal status (UPS).
- Some flagship programmes of government of India –
| Programme | Inaugurated on |
| T B mission 2020 | Year 2014 |
| Sukanya samridhi yojana | 22nd January 2015 |
| Skill India | 22nd January 2015 |
| Digital India | 20th August 2014 |
| Make in India | 26th September 2014 |
| Sansad adarsh gram yojana | 11th Oct 2014 |
| Pradhan mantri krishi sinchayee yojana | Jan 2014 |
| Swatch Bharat abhiyan | 2nd October 20 |
| Soil health card scheme for every farmer | |
| Kisan TV | |
| Deendayal upadhayay gram jyoti yojana | |
| Van bandhu kalian yojana | |
| Beti bachao beti padhao yojana | |
| Shyama Prasad mukherjee rural mission | |
| Neeranchal | |
| Financial inclusion mission | |
| Housing for all by 2022 | |
| Pradhan mantra jan dhan yojana |
- National income of India.
- It is a flow concept.
- Financial year is from 1st April to 31st March.
- According to national income committee (1949) “A national income estimate measures the volume of commodities and service turned out during a given period counted without duplication”.
- When the national income is measured at the base year price, it is called national income at constant price.
- When national income is measured at the current year price it is called national income at current year price.
- NNPFC = NNPMP – indirect taxes + subsidies + government surplus
- NNP – net national product.
- FC – fact or cost.
- MP – market price.
- NI (national income) = NNP + subsidies – indirect taxes.
- NI = C + G + I + (X-M) + (R-P) – depreciation – indirect tax + subsidies.
- C – Total consumption expenditure.
- G – Total government expenditure.
- I – Total investment expenditure.
- X – Import.
- M – Export.
- (R-P) – Net fraction income from abroad.
- R – Received.
- P – Payments.
- GNP (gross national product) = depreciation – indirect taxes + subsidies.
- National income is the measurement of the production power of an economic system in a given time period.
- National wealth is the measurement of the present assets available at a given time. It is a stock concept.
- Method of measuring national income –
- Product method.
- Net value of final goods and services produced is called total final product. It represents GDP.
- Net income earned in foreign boundaries by nationals is added and depreciation is subtracted from GDP.
- Income method.
- Total net income earned by working people in different sectors and commercial enterprises is obtained.
- Income of both categories of people, paying taxes and not paying taxes are added to obtain national income.
- Consumption method / Expenditure method.
- National income is the addition of total consumption and total savings.
- Product method.
- In India a combination of production method and income method is used for estimating national income.
- In 1868, first attempt to estimate national income was made by Dadabhai naroji in his book ‘Poverty and un British rule in India’. He estimated per capita income to be 20 Rs.
- First scientific attempt to estimate national income was made by Prof. V K R V Rao in 1931-32. He divided Indian economy into 13 sectors.
- In 1949 national income committee was made, chairman was Prof. P C Mahalanobis and other two members were Prof. V K R V Rao and Prof. D R Gadgil. This committee gave its first report in 1951 and its final report in 1954.