Ayyayo, in exam we just write: National Income at Factor Cost = GDP at Market Price minus Depreciation minus Net Indirect Taxes plus Net Factor Income from Abroad. But yaar, our village’s real "national income" is my Ammi's lemon trees yielding even in heat—while the factory at the highway shows big GDP but pays no attention to our drying borewell. So these book formulas feel like counting leaves without seeing the roots.
#india#national-team
Jump in to reply — no account needed.