This Committee was responsible for putting the national accounts estimation of India on a modern footing.
Professor Rao is justly considered to be the father of national income accounting in India. He has authored fourteen books, co-authored three others and edited four more. The book under review is the latest work by this prolific researcher and marks a return to his early field of interest, that of National Income Estimation. The book is divided into twelve chapters.
The initial chapter discusses the concept of national income estimation and its limitations. The second chapter describes the different aspects of India's economic growth and change as seen through aggregate national income data. In most Indian Government statistics the base year for constant price series is , however, the author presents an analysis of the Indian growth experience based upon prices.
The effects of the growth of money income on the sectoral distribution of income are discussed in chapter three. The analysis of change in different sectors and sub-sectors of the economy and in the product-mix by commodities and sectors of industrial origin is the subject of chapters four and five.
The sixth chapter deals with the quantum and composition of consumption and its distribution both rural and urban and by expenditure groups. The analyses of state domestic products and inter-state variation in growth and national shares and the extent of changes in inter-state inequality are presented in chapter seven, while the question of factor shares is dealt with in chapter eight, and the growth and composition of savings in chapter nine.
The volume and composition of capital formation and the changing Use this link to get back to this page. Author: Sohail J. Date: Summer From: Pakistan Development Review Vol. Publisher: Pakistan Institute of Development Economics. Document Type: Book review. The committee was chaired by Prof. Mahalanobis and had Prof D. Gadgil and Dr. Rao as members. The first report of the committee was presented in According to the first report, the National Income of India for was Rs. Since the national income estimates are being prepared by Central Statistical Organisation.
The Central Statistical Organisation has divided Indian economy into three basic sector for the purpose of evaluation of various data. They are. National Income may be calculated on current prices or at constant prices. Currently, the base year for measuring national income and per capita income at constant prices is - 05, introduced in Jan The rate of economic growth of a country is measured by the rate of growth of national income at. Toggle navigation.
National Income : Definition National Income Committee defines national income as "the value of commodities and services produced in an economy during a given period, counted without duplication. He divided the Indian Economy into two parts Agricultural Sector which included agriculture, forests, fishing and hunting.
Corporate Sector which included industries, construction, business, transport and public services. They are Primary sector comprising agriculture, forestry, fishing, mining and quarrying. Secondary sector comprising manufacturing, power generation, gas and water supply and Tertiary sector comprising transport, communication and trade, banking insurance, computer software, public administration, defence and external trade.
National Income does not include data from the following activities Income from illegal activities like smuggling, gambling etc.
Income from work done without remuneration like domestic work by housewives. Black Money Revision Questions 1.
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