- 7/2/2025
Category
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CreativityTranscript
00:00:00Three methods start from the moment, correct?
00:00:30So again, this updated material is available on the website, you can refer to it.
00:00:47Part A changes are included in part B from the beginning.
00:00:53Part A and Part B are split. Part A is completed in table formats, full content given in table format.
00:01:02Part B of the topic, first topic, there is no content, like what you said.
00:01:10Usefulness of national income accounting, use fund row.
00:01:14So, in other cases, we can use fund row.
00:01:16Hope I am audible, can you confirm am I audible?
00:01:23Yeah, fine.
00:01:36I have done with this three prices also.
00:01:39I have to start from here, I think.
00:01:45Three methods to evaluate, correct?
00:01:47We will start from here.
00:01:49Okay.
00:01:51Actually, the start is done.
00:01:55Income method.
00:01:57Income method.
00:01:59Income method.
00:02:01Income method.
00:02:03Actually, the three methods.
00:02:07GDP at NP at market price arrive one row, the table B3 follow when you go to national income, there is net national product arrive.
00:02:17So, I will be able to get the value method, income method and expenditure method.
00:02:24If I give you 10,000 rupees now, how much do you have now?
00:02:30If I give you 10,000 rupees now, how much do I have now?
00:02:35If I give you 10,000 rupees now, how much do I have now?
00:02:40If I give you 10,000 rupees now, I will sell you.
00:02:45If I give you 10,000 rupees now, how much do I have now?
00:02:49Income is 10,000 rupees.
00:02:51How much do I have now?
00:02:54So, the income method is the factor income method.
00:02:58You know the factors of production, land, labour.
00:03:01So, that is based on income.
00:03:03And factor payment method.
00:03:05So, payment in the sense, form or organization.
00:03:08So, we pay for that angle.
00:03:11And distributed share method.
00:03:13So, the number of people are selling.
00:03:15Label, land, rent, and the number of people are selling.
00:03:17So, if I give you 10,000 rupees, I will distribute it.
00:03:20That is the income of the generator.
00:03:22So, it is different names.
00:03:24But all the different names are suitable over here.
00:03:26Right?
00:03:27So, suitability.
00:03:28Where is the income method suitable?
00:03:31Is definitely developed countries where they properly file their IT returns.
00:03:37This is the problem.
00:03:38If you file the IT returns properly, how much the income and expenditure can be done.
00:03:42If you file the IT returns properly, it is a problem.
00:03:45So, let's look at that angle.
00:03:47One second.
00:03:49One second.
00:03:51Okay?
00:03:52Okay.
00:03:53Okay?
00:03:54And, you see what you will see here.
00:03:57Because, you have all the local terms of the residents and non-residents data.
00:04:00What factor payments included in your family as a resident?
00:04:03Take a look at that.
00:04:05Take a look at that.
00:04:06Take a look at that.
00:04:07If you're looking at this, only includes and excludes are important.
00:04:09That is the important problem of the view.
00:04:11So within the territory are resident or non-resident.
00:04:15Residents are 182 days in India.
00:04:18So resident or non-resident,
00:04:20they are not the payment in our territory.
00:04:24So generation of income is domestic territory.
00:04:27India will say this is factor payments of residents and non-residents within the territory.
00:04:32So it is included.
00:04:34National net product at factor price.
00:04:37National income, NDP at factor price plus NFIA add.
00:04:44Net income from abroad add.
00:04:46In the table, E follow.
00:04:49This is table B1.
00:04:50The very first table is income method.
00:04:53Income method and income method.
00:04:57So it is not repeating.
00:04:58C, O, M, D,
00:05:01GDP at factor price.
00:05:03At factor price.
00:05:04And then net of indirect taxes.
00:05:06Which is I minus S.
00:05:07This is at market price.
00:05:09And then table B3.
00:05:11Follow item.
00:05:12So just the same as table 1.
00:05:14Right?
00:05:15Okay.
00:05:16And third method.
00:05:18Okay.
00:05:19Some note.
00:05:20Yes.
00:05:21This is very important.
00:05:22So as I was telling
00:05:23I had not a style.
00:05:24As I said.
00:05:25In the same time.
00:05:26Inclusions and exclusions.
00:05:27You can talk about that.
00:05:28In a text book.
00:05:30The topic we want to do.
00:05:31In a topic in the session.
00:05:33You just go through the chapter.
00:05:36And find the inclusions.
00:05:37And inclusions given.
00:05:38Line by line.
00:05:39The conclusion.
00:05:40See the values.
00:05:41You have to miss a continuity and miss a value.
00:05:44So on the purpose, I have made this or I have tabulated the data here.
00:05:49Data and the censored points.
00:05:51What to include and exclude?
00:05:55Imputed value.
00:05:57Imputed is actually rent.
00:06:00We will occupy this.
00:06:02In case you have a rent.
00:06:04If you don't have a house,
00:06:06what do you do?
00:06:08If you don't have an office space,
00:06:11you can have an office space.
00:06:14Then, self-occupied houses can be done correctly.
00:06:18Probably, you have a very big place.
00:06:21If you don't have a residential house,
00:06:24you can rent it.
00:06:26You can rent it.
00:06:28You can rent it.
00:06:29But if you don't have a house,
00:06:31you enjoy a space.
00:06:33If you don't have a car parking,
00:06:35you can rent it.
00:06:37You can rent it.
00:06:38You can rent it.
00:06:39You can rent it.
00:06:40You can rent it.
00:06:41You can rent it.
00:06:42Why?
00:06:43Because we have each and every extra space matters of it.
00:06:46But what do we pay extra?
00:06:48You can rent it.
00:06:49That's why self-occupied houses
00:06:51has a value fixed.
00:06:53That is, in terms of money,
00:06:54we value it.
00:06:55It's not actually sold in the market.
00:06:58That factory is not actually sold in the market.
00:07:00That factory is not actually sold in the market.
00:07:01That's why we pay imputed value.
00:07:03Okay?
00:07:04And service provided by owners of production units.
00:07:08Like,
00:07:09why don't you help us?
00:07:11Most of the entrepreneurs
00:07:13are going to have labor reserve.
00:07:15So,
00:07:16we don't use the term laborers.
00:07:17Why do you say,
00:07:18we are going to have a wife,
00:07:20we are going to have a wife,
00:07:21we are going to have a husband,
00:07:22we are going to have a parents.
00:07:23So,
00:07:24we manage it.
00:07:25In case,
00:07:26you have to have a business
00:07:28and we are going to have a business.
00:07:29So,
00:07:30we are going to have a business.
00:07:31We are going to have labor.
00:07:32So,
00:07:33imputed is not actually,
00:07:35but it has to be valued.
00:07:36Everything has a value.
00:07:37And,
00:07:38private sector,
00:07:39business,
00:07:40profits,
00:07:41we value.
00:07:42So,
00:07:43imputed value.
00:07:44So,
00:07:45this is one first category
00:07:46where the inclusions are noted.
00:07:47Second,
00:07:48labor income,
00:07:49labor income,
00:07:50labor income,
00:07:51we have a problem.
00:07:52And,
00:07:53you might have done it.
00:07:54Direct tax,
00:07:55income from salaries,
00:07:56bonus,
00:07:57乐,
00:07:59P.F.
00:08:00That is an IEO,
00:08:01that is equal to the definition.
00:08:02Then,
00:08:03what does it include in it?
00:08:04Wages,
00:08:05salary,
00:08:06bonus,
00:08:07dearness,
00:08:08finance,
00:08:09brokerage,
00:08:10employer contribution.
00:08:11Please,
00:08:12let me call,
00:08:13where is,
00:08:14the donor,
00:08:15employee contribution?
00:08:16So,
00:08:17the short term is employer contribution.
00:08:19Employee contribution to the savings.
00:08:21Employer contribution is price from the savings.
00:08:22Ample of the income there.
00:08:23That's one way,
00:08:24that's income.
00:08:25That's the very angle.
00:08:26and imputed value of compensation, so imputed value of compensation so imputed value of compensation
00:08:45and the second category, is it okay? non-labor income is a category, non-labor income is a actual or imputed rent is included, labor is a particular category
00:09:02labor is a particular category, labor is a particular category, for example imputed category is a rent
00:09:10in general rent, actual rent collect in the world, you self occupied house, royalty, interest on loans available for proactive services
00:09:23dividends, under distributed profits of corporations before tax, profits on unincorporated enterprises and of government enterprises
00:09:36it is non-labor income, which means something related with capital and interest, so it is included, so this is third category, so it is inclusion list
00:09:46then I proceed for exclusion list, exclusion list is transfer payments, transfer payments is a pension amount, social insurance,
00:09:56not the transfer payments is a term, it is transfer payments is a low, in the transfer payments government namakhaag tharaddu, okay?
00:10:03so where any particular service khaagala, you can work and receive what you need, and government namakhaag tharaddu, so the government namakhaag.
00:10:09and receipts of sale of second hand goods, yes, beautiful concept is a concept.
00:10:20you can work and receive what you need to do, but the second hand goods is duplication, do you agree with me?
00:10:31see, you can get income, but what do you think about income in particular person all over the nation, that is national income, so GDP, NFIA,
00:10:41this is the duplication we have seen some duplication, we have seen some duplication, so for example, number of cars,
00:10:50for example, 10,000 cars, this month, 10,000 cars manufacture each week, so the value addition method is like 10,000 cars,
00:11:02In that time, one car can sell over 100,000 cars.
00:11:06At the same time, the car sale was $1.00.
00:11:10Then, what is it?
00:11:12The car has a property.
00:11:14Obviously, the asset is being offered.
00:11:17He has generated some income for this.
00:11:22Actually, it is a match for income.
00:11:26That's why he uses visits.
00:11:28But, it is not a problem.
00:11:30If the income is fixed by any angle, you can fix it.
00:11:34Then X is fixed.
00:11:35Which means he is receiving some amount inside.
00:11:38But if X is saved by the person,
00:11:40then the car is one car.
00:11:44How do you get my point?
00:11:46When the car is in the automobile industry,
00:11:4810,000 cars manufactured,
00:11:50then it is added.
00:11:52This is already added in the national income.
00:11:55If you know how to save,
00:11:57it is a duplicate.
00:11:59So, unduplicated values that we are doing.
00:12:02So, this is the sale of second hand goods,
00:12:04as there is no new flow of goods.
00:12:06In this case,
00:12:08one flow term,
00:12:10and one stock term.
00:12:12Stock is constant.
00:12:14Constant is called.
00:12:16That means stock.
00:12:18Flow is called.
00:12:20That is flow.
00:12:22So, stock and flow are used.
00:12:25Now,
00:12:26you can use it.
00:12:27You can use it.
00:12:28You can use it.
00:12:29But next topic,
00:12:30you can use it.
00:12:31Winfall gains.
00:12:32Yes,
00:12:33lotteries are big.
00:12:34Yeah.
00:12:35See,
00:12:36income and accounting.
00:12:37Where are you based on it?
00:12:38GDP are based on it.
00:12:39GDP are based on it.
00:12:40GDP are definition repeat.
00:12:41You try to understand.
00:12:42It is market value of all final goods and services.
00:12:48And this goods and services is something related with the productive activity.
00:12:53as lotteries is not falling under this category,
00:12:55Lotteries could be one example.
00:12:57So, generally,
00:12:58windfall gains is that we will be little.
00:13:01Any expense I need to go to it?
00:13:02That's what I desire.
00:13:03We are going to go to it.
00:13:04All right.
00:13:05And corporate profit.
00:13:07Yes.
00:13:08It should not be separately included.
00:13:09I want to be a profit as a value to us.
00:13:12And,
00:13:13you are going to be another profit.
00:13:14Obviously,
00:13:16you are going to be dividend.
00:13:17You are going to go to the government.
00:13:18You are going to go the VK and earnings.
00:13:20So, in this case corporate profit is already included, so to avoid the duplication work and exclude it.
00:13:30Done? Clear?
00:13:32Next, capital gains, yes.
00:13:34Now, we don't need the receipts of second hand goods.
00:13:37That is capital gains.
00:13:39Capital gains is the same thing.
00:13:42So, that is unduplication.
00:13:44That is, duplication is the same thing.
00:13:47If you want to say, save is the same thing.
00:13:50If you want to say, save is the same thing.
00:13:52Reconciliation is the same thing.
00:13:54Financial assets and payments related to past savings.
00:13:57Yes, past savings is the same thing.
00:13:59And interest paid on public debt,
00:14:02Conception loans,
00:14:04By one firm to another.
00:14:06If you want to categorize the same thing,
00:14:08How do you do the value?
00:14:10How do you do the additions?
00:14:12That is why we avoid duplication.
00:14:14So, if you want to understand the same thing,
00:14:17If you want to understand the same thing,
00:14:18then you can understand the same thing.
00:14:20So, there are also unduplicated values that are considered as exclusions.
00:14:24Yes, can you please go through?
00:14:26Okay so some other things for calculation purpose and then I include on the income from people
00:14:37over the world.
00:14:39Jobs is self-employment.
00:14:42We include labor income and profits of private sector business.
00:14:49Yes, it has to be included in the non-labor income and rent income from ownership of the
00:14:53land.
00:14:54That's the imputed value.
00:14:55That's what we include.
00:14:56So the particular one is the pair of us.
00:14:59Confusions, doubt and doubt.
00:15:04I have included.
00:15:05Okay.
00:15:06Third one is the expenditure method.
00:15:09That's it.
00:15:10If you don't know how much you are going to do it.
00:15:13So you can dispose of your income.
00:15:17It's an outlay method.
00:15:21How can you expand your income?
00:15:23You can see how many categories are in this method.
00:15:27Every category means how many categories are in the sector.
00:15:29Why do you value this method?
00:15:31Why do you value this method?
00:15:33How many categories are in recreation clubs?
00:15:37How many categories are in the theater and watch?
00:15:40How many categories are outings?
00:15:43How many functions are in the functions?
00:15:46If you have a normal average or middle class family, you can invite all the functions.
00:15:53So this spending is different, right?
00:15:56Then there is a lot of spending in one area.
00:16:00Everyone has a lot of money.
00:16:02Then we know how much spending is needed.
00:16:06We know how essential commodities.
00:16:08In covid time, we don't know how much money is needed.
00:16:11We don't know how much money is needed.
00:16:14So this is an outlay method.
00:16:16So how much money is needed?
00:16:20How suitable is it?
00:16:22Commodity flow.
00:16:24So that's what I was telling.
00:16:26Increasing proportion in the national income is the same.
00:16:30That is expenditure is the same.
00:16:32Aggregate demand method.
00:16:36I will take sum of all the values.
00:16:39Demand is the same as normal demand.
00:16:42Demand is the same as supply.
00:16:46That's equilibrium statement.
00:16:48Demand is the same as supply.
00:16:50Industries and factories.
00:16:52Income method, expenditure method.
00:16:54What method is the same.
00:16:56So this is called aggregate demand method also.
00:16:59So normally final expenditure is the same as supply.
00:17:03So that's why you use the term as aggregate.
00:17:05Aggregate.
00:17:07Put together.
00:17:09This is the same as supply.
00:17:10If you look at the market and the market's market.
00:17:11So that's what you see.
00:17:12If you look at it, you will see private market.
00:17:13Probably households.
00:17:14So see.
00:17:15So see.
00:17:16So see is gentle and day to day life.
00:17:18Consumptions are not.
00:17:20What are the options that do?
00:17:22For example, there is a farmer who is eating rice.
00:17:27He has harvested 10,000 tons of rice.
00:17:32He has a sale for 10,000 tons.
00:17:37He has to pay investment.
00:17:40He has to distribute 9,000 tons.
00:17:44He has to distribute 500 tons.
00:17:48And primarily 500 tons of investment, conceptions.
00:17:52If you have 9,000 tons of rice,
00:17:56you can go to rice.
00:17:58You can go to rice.
00:18:00This is a house force.
00:18:02Or governments.
00:18:04If you have a house force,
00:18:06it is a conception category.
00:18:08It is a government.
00:18:10It is a G for government.
00:18:14It is a capital formation.
00:18:18And export category.
00:18:20Is it okay?
00:18:22Export category is net exposed.
00:18:24Please make a note.
00:18:26Net exports.
00:18:28Net imports.
00:18:30Net exports.
00:18:32M for imports.
00:18:33It is not M minus X.
00:18:34M minus X.
00:18:35M minus X is negative.
00:18:36Negative.
00:18:37Negative.
00:18:38Okay.
00:18:39So, net exports.
00:18:40Which is X for exports.
00:18:42M for imports.
00:18:43X minus M category.
00:18:44So, C plus G plus I plus X minus M category.
00:18:49GDP at MP category.
00:18:51That is as usual.
00:18:52As usual.
00:18:53Table 3.
00:18:54Okay.
00:18:55So, this is what I have mentioned here.
00:18:56Net imports.
00:18:57It is m minus X.
00:18:59Here is what I have mentioned.
00:19:00So, this is what I have mentioned here.
00:19:02Net imports.
00:19:03This means M minus X minus M.
00:19:04Which means reverse.
00:19:05The way we can add.
00:19:07Net exports.
00:19:08Net imports.
00:19:09We can subtract.
00:19:10So, we need to note.
00:19:12Inputs or exports.
00:19:14So, we need to know.
00:19:15So, we need to know.
00:19:16We need to know.
00:19:17We need to know.
00:19:18and with respect to the overall load all the methods should align equal value all the methods
00:19:25it is 3D view
00:19:26one of the production is done
00:19:30in the production is done
00:19:32one of the one of the one of the one of the conservation
00:19:36that is how to expand
00:19:39this is the circular flow of income
00:19:42this is the four coming pages we discussed
00:19:44this is the circular flow of income
00:19:46measurement errors is what we have to avoid
00:19:50so I want to avoid the measurement errors
00:19:52one of the method is complementing
00:19:54one of the method is complementing
00:19:56one of the method is what we have to do
00:19:58so we have to miss it
00:20:00it is like checking
00:20:02so different methods
00:20:04different insights
00:20:06how I look
00:20:08the structure of icon
00:20:10different angle
00:20:12value addition method
00:20:14sector
00:20:18sub sector
00:20:20primary
00:20:22secondary
00:20:24tertiary
00:20:26quarter
00:20:28territorial
00:20:30labor
00:20:31capital
00:20:32and entrepreneur
00:20:33four factors of production
00:20:34so I have missed upon the four here
00:20:36and expansion method
00:20:38four economic sectors
00:20:40household
00:20:42firms
00:20:43governments
00:20:44and external
00:20:46okay
00:20:48different structure of the economy
00:20:50different methods
00:20:52and
00:20:54all the other
00:20:56it is giving a highlight
00:20:58national income
00:21:00national income
00:21:02national income
00:21:04national income
00:21:06national income
00:21:08or private income
00:21:10national income
00:21:12stands for personal income
00:21:14DPI stands for disposable personal income
00:21:16personal income
00:21:18personal income
00:21:20okay
00:21:30okay
00:21:31personal income
00:21:32okay
00:21:33so
00:21:34national income
00:21:36you can see
00:21:38national income
00:21:39one of the
00:21:40inclusions
00:21:41one of the exclusions
00:21:42one of the exclusions
00:21:43you can see
00:21:44subsequent illustration problems
00:21:46in the textbook
00:21:47illustration problems
00:21:48you can fit in the format
00:21:50so I have tried to make it in that format
00:21:52how to include
00:21:54what is the inclusions
00:21:56category
00:21:57income
00:21:58receive
00:21:59and you earn
00:22:00do
00:22:01you
00:22:02earn
00:22:03so
00:22:04that's income
00:22:05so
00:22:06transfer payments
00:22:07to households
00:22:08from governments
00:22:09and firms
00:22:10transfer payments
00:22:11are
00:22:12pensions
00:22:13social insurance
00:22:14who are doing
00:22:15governments
00:22:16are doing
00:22:17unemployment
00:22:19and
00:22:20households
00:22:21transfer payments
00:22:22so
00:22:24this is
00:22:25income
00:22:26received
00:22:27that's
00:22:28that's
00:22:29that's
00:22:30that's
00:22:31that's
00:22:32that's
00:22:33that's
00:22:34that's
00:22:35that's
00:22:36current transfers
00:22:37from firms
00:22:38governments
00:22:39and rest of the world
00:22:40current transfers
00:22:41from
00:22:42donations
00:22:43fees
00:22:44scholarship
00:22:45fines
00:22:46federal state
00:22:47federal state
00:22:48where
00:22:49government
00:22:50pay
00:22:51households
00:22:52firms
00:22:53government
00:22:54other
00:22:55economic
00:22:56sector
00:22:57and
00:22:58interest
00:22:59on
00:23:00national
00:23:01debt
00:23:02this
00:23:03inclusion
00:23:04category
00:23:05which means
00:23:06your money
00:23:07can be utilized for any purpose
00:23:08but
00:23:09what
00:23:10second category
00:23:11is
00:23:12income
00:23:13that
00:23:14is
00:23:15income
00:23:16that
00:23:17is
00:23:18income
00:23:19that
00:23:20is
00:23:21income
00:23:22that
00:23:23is
00:23:24income
00:23:25earned
00:23:26but
00:23:27it's not
00:23:40received
00:23:41it's not in your hands
00:23:42it's not
00:23:43it's not in your hands
00:23:44that's
00:23:57undistributed profits
00:23:58like
00:23:59like
00:24:00shares
00:24:01you have the ownership
00:24:02you have the ownership rights
00:24:03and
00:24:04how do you generate profit
00:24:05it's not in your hands
00:24:06it's not in your hands
00:24:07it's not in your hands
00:24:08it's not in your hands
00:24:09it's not in your hands
00:24:10declared dividend
00:24:11and
00:24:12net
00:24:13interest
00:24:14payments
00:24:15made by
00:24:16households
00:24:17to
00:24:18firms
00:24:19income
00:24:20from
00:24:21property
00:24:22entrepreneurship
00:24:23which is
00:24:24accruing to the
00:24:25government
00:24:26administrative
00:24:27departments
00:24:28income
00:24:29from
00:24:30domestic
00:24:31product
00:24:32accruing to government
00:24:33savings of
00:24:34non-departmental
00:24:35enterprises
00:24:36steel
00:24:37manufacturing
00:24:38oil
00:24:39exploration
00:24:40savings
00:24:41revenue
00:24:42we can do
00:24:43personal income
00:24:44because
00:24:45personal income
00:24:46we can do
00:24:47national income
00:24:49we can do
00:24:50national income
00:24:51in this
00:24:52national income category
00:24:53this is
00:24:54shareholder
00:24:55profit
00:24:56and
00:24:57dividend
00:24:58declare
00:24:59profit
00:25:00so
00:25:01corporate
00:25:03all related
00:25:04tax
00:25:05this
00:25:06is
00:25:07corporate
00:25:08income
00:25:09so
00:25:10exclusions
00:25:11included
00:25:12so
00:25:13private
00:25:14sector
00:25:15contribution
00:25:16to employees
00:25:17to social security
00:25:18excluded
00:25:19and
00:25:20to
00:25:21pay
00:25:22to
00:25:23pay
00:25:25taxes
00:25:26and
00:25:27some
00:25:28of
00:25:29non-tax
00:25:30payments
00:25:31will be there
00:25:32that's
00:25:33that's why
00:25:34that's why
00:25:35you call this
00:25:36is
00:25:37disposed
00:25:38what are the different
00:25:39transfer payments
00:25:40what are the different
00:25:41transfer payments
00:25:42what are the different
00:25:43what are the different
00:25:44payments
00:25:45what are the different
00:25:46payments
00:25:47what are the different
00:25:48transfer payments
00:25:50what are the different
00:25:51transfer payments
00:25:52what are the different
00:25:53transfer payments
00:25:54what are the different
00:25:55how are the different
00:25:56income
00:25:58that's why
00:25:59you call this
00:26:00what are the different
00:26:01transfer payments
00:26:03what are the different
00:26:04what are the different
00:26:05transfer payments
00:26:06that's why
00:26:07social security
00:26:08unemployed compensation
00:26:09unemployment compensation
00:26:10welfare payments
00:26:11Unemployment compensation, welfare payments, that is included in your transfer payments.
00:26:18Personal income is excluded from retained earnings, corporate taxes, that is GST, indirect taxes related to business, that is excluded.
00:26:27Social transfers, pension, relief subsidy, that is included in your social transfers.
00:26:32Included is not included in your example.
00:26:36And you know this disposable personal income, consumption or savings.
00:26:41Okay, if you have the money in your hand, this must be a problem.
00:26:46I may be having different types of expenditure, medicine, family, as I was telling you, recreation, function.
00:26:54So, it is not only conception.
00:26:57Okay, the term in the usement is disposable, which means that it is in my hand I can dispose it.
00:27:02If you have a share of profit, it is not worth it.
00:27:08It is not worth it.
00:27:09It is not worth it.
00:27:10You can use the details of that.
00:27:12You can use the ownership rights.
00:27:14You can enjoy ownership rights.
00:27:15That is not worth it.
00:27:16Conception is ready for conception.
00:27:17Which means, if you have a solution, what you need to do.
00:27:19You need to do savings.
00:27:19Savings to do.
00:27:20It is not worth it.
00:27:21It is not worth it.
00:27:22With respect to individuals, households to pay.
00:27:24And it is mostly available for conception.
00:27:27See, in the conception term, where is it?
00:27:29In the conception term, where is it?
00:27:30In the conception term, I would say how much money I buy, that is the customer returns.
00:27:36And MNDI and GNDI that is gross net domestic income sorry national domestic income and
00:27:49national gross national domestic income net national and gross national income completely
00:27:55I will go for net national income MNDI table H and GNDI net national income N and I which is net national
00:28:19product adha net national income is oled irklaunga. It is one of the net current transfers from
00:28:26rest of the world. Look at rest of the world outside foreign and the net correct transfers
00:28:33appo receipts minus the payments irklaunga. It is general income kaadha tax pay kandha
00:28:42wealth kaadha related arhu karudhu. Adhi marindu social contributions irklaunga. So indha marindu
00:28:47cases mutten you particular maundi upan. Okay. So net national disposable income ungalithu
00:28:52net national income ungalithu orus illa inclusions pannabbo enak varadha net national disposable
00:28:58income. Adhani vandhu depreciation include panningana. Yenna net dhani edhu. Depreciation include panningana
00:29:05there is conception of fixed capital you will get the gross value. Okay. So GNI or GNP minus
00:29:12depreciation is nothing but N and N and N. Adhani so later mawara. And current transfers
00:29:17is primary income illaam. Inche agar laame current transfers is so loo. So it is agar laame
00:29:21general outlook. Next I will go for domestic income. So personal income on the angle paatho
00:29:27yipo domestic income. Domestic income is number nation, number territory kullo n aatakara
00:29:33issue. Now national income paatho domestic income paatho domestic income paatho
00:29:37perst and income nalikabde oogarha paatho maari fee varukko. Meri ooyayun wishita
00:29:41naadhojkoon gdp. Anngaladha th thun chukun chuma variations paatho naadhojkoon. So domestic
00:29:45income is number India that is number territory la alukka public sector on project sector on inna
00:29:49caddie pagdharada mawara Also public sector gourtawa, so farna
00:29:56include income from property gonewara entrepreneurship so say you go some non departmental enterprises
00:30:02idallam include ādharuki. Private sector on a deadlines paatho yimpala.
00:30:08this one. It is a difference. Public sector and private sector. Income from property and entrepreneurship accruing to government department and department. So, and savings of non-departmental enterprises.
00:30:21This is a difference. This is a difference. Public and private sector is a difference. That is public and government inclusions. Government and private sector is a difference.
00:30:45So, the net team is a difference. The net domestic product is a difference. So, it includes private sector. It includes everything. Departmental, non-departmental. Departmental included. And this is non-departmental included.
00:31:01So, this is a difference. This is government under control. Departmental, what is the income generated from property, what is the income from property, what is the income related?
00:31:14So, that is what is the difference. Non-departmental enterprises are more than the revenue. That is what is the income. So, that is what is the difference.
00:31:23So, that is what is the difference. So, that is the difference. So, that is the difference. So, that is the difference in domestic income.
00:31:30Private and public sector. So, more particular on private income which accrues only accrues term which accrues whatever income is. Okay.
00:31:40To private sector from all sectors within and outside the country. Please, please make a note within and outside. Okay.
00:31:50Okay.
00:31:52Who earns it? From where he earns it? Where the income is generated?
00:31:57from where he earns it, where the income is generated
00:32:01in the income one will generate higher
00:32:04within or outside the territory
00:32:07where it is located in India
00:32:13where the income is generated in India
00:32:15where it comes from maybe from outside India
00:32:17we are not worried about that
00:32:19and factory income, transfer income
00:32:22so this is about table J
00:32:25in particular, so NDP at factor cost
00:32:29that is when you remove it
00:32:31and the private sector
00:32:33this is what we saw earlier
00:32:35this is what we saw
00:32:37this is what we saw
00:32:39the national debt interest
00:32:41government here
00:32:43external work here
00:32:45this is what we saw
00:32:47private income
00:32:49yes finally go through
00:32:51so non-departmental enterprises
00:32:53what do you mean by that?
00:32:55government steel manufacturing, oil exploration
00:32:57in the category
00:32:59is it okay?
00:33:01so other miscellaneous concepts
00:33:03so in the miscellaneous concepts
00:33:05we have to proceed with part A
00:33:07then we have to proceed with part B
00:33:09part B is a very general issue
00:33:11what do we mean by stock?
00:33:13static
00:33:15commodity
00:33:17and then we have to go through
00:33:19some point of time we will see it's constant
00:33:21probably stop 100
00:33:23all the time has been done
00:33:25how do we use it?
00:33:27year end
00:33:2931st March
00:33:31But when we close the value, we use the term flow which means it is changing
00:33:39So, if we differentiate each other, it is static and dynamic to differentiate
00:33:44And it has something called as TQLI, Physical Quality of Life Index
00:33:49So, if we look at GDP, how can we measure it?
00:33:54There are no discussions about it
00:33:56How can we measure the physical quality of life index better in this textbook?
00:34:04So, physical quality of life index is the quality of life
00:34:08So, if we look at GDP in the sense of GDP in the sense of national income
00:34:15So, if we look at the economic welfare, the better indicator is the PQLI index
00:34:21That is Physical Quality of Life Index is the abbreviations
00:34:24If we look at the national income, if we look at the loss of natural resources, we can value
00:34:31Oil exploration, minerals, and now the reason for the cold field is the cold events
00:34:39So, if we look at the natural resources, we lose
00:34:43We lose the water and social news
00:34:46Now, the buildings like a lake, a pond, are building constructs
00:34:51So, we have lost something
00:34:52If we look at the fact that we are going to do, we don't do anything
00:34:56We don't do anything else
00:34:57We don't do anything else
00:34:58We can explore the mines
00:35:01We can explore the mines
00:35:03We can explore the mines
00:35:05Dubai is meant for petrol
00:35:07Dubai is meant for petrol
00:35:08Dubai is not petrol
00:35:11Dubai is not petrol
00:35:12Dubai is not a country
00:35:13Dubai is not a country
00:35:15So, there is a problem
00:35:17Right?
00:35:18Purchasing power parity
00:35:20Dubai is not a country
00:35:21This is a country
00:35:22Dubai is not a country
00:35:23So, US dollars
00:35:24Where are we going to value?
00:35:25We have no currency
00:35:26Indian currency
00:35:28Rupees
00:35:29Where are we going to value?
00:35:30That is not a country
00:35:31US dollar
00:35:32Actually, US dollar is a dominating currency
00:35:33American dollar is a dominating currency
00:35:35So, you have to value to the American dollar
00:35:51There is a change of value
00:35:52In the interest of the dollar
00:35:53There is a change of value
00:35:54In the interest of the dollar
00:35:55There is a change of value
00:35:57Today, if you have the value
00:35:58As you can see
00:35:59What is the value
00:36:01In the interest of the dollar
00:36:03But it is a dominating currency, that is why the whole country has the US million dollars value.
00:36:12National income, yes we have gone through this as a macroeconomic aggregate, it equals the value of the aggregate supply.
00:36:19We discussed that in expedition method, aggregate demand is on, aggregate supply is on.
00:36:25Equilibrium status, supply and demand is on.
00:36:29Again, if you are looking at equilibrium, we will talk about the next topic.
00:36:35We will discuss about equilibrium, equilibrium, equilibrium.
00:36:38If you are talking about a factory production, you can produce anything.
00:36:44If you produce it, you can use it.
00:36:47So, it is not making a stock.
00:36:49It is not making a stock.
00:36:51It is not making any stock.
00:36:54It is not making any stock.
00:36:55So, in that case, if you buy any stock, you can sell any stock.
00:37:00It is not making any stock.
00:37:02That is equilibrium state.
00:37:04If you are talking about equilibrium in that angle, there is a controversy.
00:37:09If you buy any stock, you can sell any stock.
00:37:11If you buy any stock, you can sell any stock.
00:37:15You can buy any stock.
00:37:16If you buy any stock and you buy stock, you will sell any stock.
00:37:18By doing so, if you buy it.
00:37:19If you buy anything, morally and money, we can sell any.
00:37:20That would be something about lending.
00:37:21How corporations should haveата income asset interfere?
00:37:22Ohh, comment oaks share is located.
00:37:23If you want to invest some kind of the funding.
00:37:24About this, you show how enable stock.
00:37:25But it is not something else based on a business and coax.
00:37:30A lot of time is saying about debt.
00:37:33And one more concept here is with respect to GDP deflation which is also called as price
00:37:38index.
00:37:39You usually have nominal GDP, that is the real GDP, what is nominal GDP, current year
00:37:46we will use the term called as GDP price, value, so P and Q, real GDP divided by real
00:37:58GDP.
00:37:59Now P and Q which means quantity is not changing, value is originality and P1 divided by P0 into
00:38:12100, actually P1 by P0 the index is over, and the related index is price related index,
00:38:20that is why I determine the price related index, deflation is over, now base here compare
00:38:25value upon number values will have a different nature, annaranda the GDP deflate and so on,
00:38:30is it okay.
00:38:31And constant price in the value upon number, national income at constant price will be national
00:38:36income at constant price with respect to this index has to be calculated in the point search
00:38:40number.
00:38:41So, N9 which will be taken at current price with respect to P1 divided by P0.
00:38:48So, now inflation rate, then deflate to the value of the value, then deflate to the value
00:38:55of the value is original value, then original value is inflation rate.
00:38:59In the inflation rate nth year GDP deflator, GDP deflator in the capital in the pandemic
00:39:06nth year minus the previous year n minus 1th year divided by n minus 1th year GDP
00:39:14you will get the difference, that difference is what you call as the inflation rate and
00:39:19so forth.
00:39:20So more on GDP what is included and what is excluded, so included in the service fee
00:39:26capital goods, if you purchase plant and machinery, that capital goods include inventory investment
00:39:32exclusion, transfer payments, financial transactions, illegal activities, it's not properly
00:39:39accountable, so non-reported output and intermediate goods duplication.
00:39:45And one extra concept here is GDP per capita or per capita income is a loop which means
00:39:52we divide the real GDP by total population. Is it okay? And per capita state level you find
00:40:06Vereal around which is, NSDP that is Net State Domestic Product .
00:40:10And when you think national, you name your domestic product. Net State or Domestic Product.
00:40:12You wonder if you how you value this?
00:40:15You think you value this? You value it? You value it. You value it. You have accounts,
00:40:19not even accounting. You value it. You value it. You care to control GDP, you care to
00:40:21any national product you value it. You value it. That is what you value it.
00:40:24And divided by state population and state population is the mid year of the projected
00:40:32state population is it okay and state income is the normal duplicate so it is not due.
00:40:38So measuring and analysing it national income accounting in the term macroeconomic sort
00:40:45of farther than this I have given that in the last page the last page in the sense that
00:40:53abbreviations forever annexure tool.
00:40:57So he is John Maynard Keyneson, he is the father of macroeconomics, macroeconomics
00:41:02is one of the things that he has written in the 4th sector, the household sector, the
00:41:07firm and the 4th sector, he has written in detail and he has written in detail and he has written
00:41:13it.
00:41:14National income accounting in particular is Simon Kuznets and Lizard Stone.
00:41:22It's a macroeconomic aggregate and forms the basis of modern macroeconomics and it provides
00:41:26all the detailed measures.
00:41:27all the detailed measures.
00:41:28like value, national output, income generation, composition, income generation, composition,
00:41:29all the put together.
00:41:30It is a macroeconomic aggregate and forms the basis of modern macroeconomics and it provides
00:41:34all the detailed measures.
00:41:35like value, national output, income generation, composition, all the put together.
00:42:06usefulness and significance of national income estimates .
00:42:08So now we can do national income, because we will consider what the use of the shoulders
00:42:13and what the use of the shoulders is.
00:42:14The short term performance is a short term.
00:42:15in reality, and evaluate.
00:42:16There is a lot of performance and analyze and evaluate.
00:42:19A nation's economic activity, national income level,
00:42:24based on the high level or low level,
00:42:28economic activity is less.
00:42:31Our development is related and aggregate demand
00:42:34because of economic performance.
00:42:37So it is one important category.
00:42:40There is a disadvantage.
00:42:42What is a disadvantage?
00:42:43It is not always the same.
00:42:45It is not just the same.
00:42:47In 100,000 income category,
00:42:4950 or 70% of the income,
00:42:5110% of the population.
00:42:53Okay.
00:42:55This is your costing.
00:42:57ABC costing.
00:42:5970% of the income,
00:43:0110% of the population,
00:43:0310% of the population.
00:43:05Okay.
00:43:07This is your costing.
00:43:09ABC costing.
00:43:1170% of the income,
00:43:13which category?
00:43:1510% of the population.
00:43:17Probably block up, split,
00:43:1970% of the income in the category.
00:43:23So like highly rich person,
00:43:26billionaires, millionaires.
00:43:27And remaining on the 30% population.
00:43:31is the costing.
00:43:33And the costing.
00:43:35But originally they earn less income.
00:43:37Distribution pattern,
00:43:39analyze it helpful.
00:43:41And economic welfare.
00:43:43Different measures,
00:43:45that is,
00:43:46magnitudinally different measures
00:43:47we are doing.
00:43:48So the different measures
00:43:49analyze it helpful.
00:43:51Like national income,
00:43:52size of corporate capital income,
00:43:54growth.
00:43:55It is an analyzing measures.
00:43:57Okay.
00:43:58Next one,
00:44:00composition and structure of national income.
00:44:02Private sector,
00:44:03non-private sector,
00:44:04labor income,
00:44:05non-labor income.
00:44:06Distribution.
00:44:07Different sectors.
00:44:08Periodical variations,
00:44:09sectoral shifts.
00:44:11Right.
00:44:12And it will also make temporal and spartial comparisons.
00:44:18Temporal and spartial,
00:44:19what do you call it?
00:44:20Chronological.
00:44:21Okay.
00:44:22Time series is over.
00:44:24So government will fix the various sectors,
00:44:29specific development targets.
00:44:30Sometimes most of the cities,
00:44:33India,
00:44:35they are making smart cities.
00:44:37Metro cities,
00:44:38Chennai,
00:44:39Delhi,
00:44:40Bombay,
00:44:41Calcutta.
00:44:42These are metro cities.
00:44:43Four metro cities.
00:44:44Next level,
00:44:46that is,
00:44:47three tier cities,
00:44:48smart cities.
00:44:49Buildings.
00:44:50Buildings.
00:44:51Roads.
00:44:52Walk out.
00:44:53So,
00:44:54you know,
00:44:55the road is here.
00:44:56Smart city project.
00:44:58Why do you have parks?
00:45:00This is one of the development.
00:45:02Sometimes,
00:45:03the nation is providing
00:45:05or allocating the budget amount
00:45:07for making smart cities.
00:45:09Sometimes,
00:45:10medicine,
00:45:11sometimes,
00:45:12health.
00:45:13In the covid pandemic time,
00:45:14the two years,
00:45:15how to prepare
00:45:17health,
00:45:18free medicine.
00:45:19Vaccination,
00:45:20free.
00:45:21Then,
00:45:22you know,
00:45:23private,
00:45:242,000 rupees.
00:45:25government is ready to provide everything.
00:45:28You know,
00:45:29necessity based.
00:45:30At any time,
00:45:31NMR is a necessity.
00:45:32You can decide.
00:45:33You can decide.
00:45:34You can decide.
00:45:35You can decide.
00:45:36You can decide.
00:45:37You can decide.
00:45:38You can decide.
00:45:39You can decide.
00:45:40If you plan.
00:45:41So it provides a quantitative basis, quantitative basis can calculate, measure, evaluate and political judgements relate and influence.
00:45:52And 6.1 it throws like income distribution, so we have three methods, expenditure side, income method and this is helpful for comparison.
00:46:04So this is very important for international comparison, GDP order value, national income means GDP, GDP value means ranking.
00:46:16So for example if I go for GDP of India, GDP of India, just highlight and recall, GDP ranking of India.
00:46:322020.
00:46:362022.
00:46:38Let's see.
00:46:40Fifth rank.
00:46:44Okay.
00:46:46Fifth rank.
00:46:48Fifth rank.
00:46:52Top 15 countries.
00:47:06Last time, increase in the United States.
00:47:10America, United States, China, China, China, Japan, Germany, UK, India, France, Italy, Canada.
00:47:26So, this is one of the nice information.
00:47:28So, our country is in any state, how we are going to go to the country.
00:47:33So, every ranking is a positive measure.
00:47:37So, this is an international comparison.
00:47:41If you think about this, we can do anything about this.
00:47:44We can say that we can do anything daily.
00:47:48In this path, there is an investment.
00:47:52If you just say income, you can say investment angle.
00:47:57If you say investment angle, you can say,
00:48:00okay, in the country, GDP is 6th ranking.
00:48:04It is more focusing on goods and services, more focusing on production activity.
00:48:09In the country, we invest in the production area.
00:48:12Foreign investment is a globalized market.
00:48:17Again, that will uplift the GDP.
00:48:20So, this is a change.
00:48:22Eighth one is monetary data, financial data.
00:48:25We combine both growth policies and inflation related policies.
00:48:30It is helpful.
00:48:32And 11 components.
00:48:34So, we have nine points on the significance.
00:48:35That is the importance of national income.
00:48:36And we look on to some different concepts of national income.
00:48:49So, the fråga one has to say.
00:48:50After all, we know that our first one is SNA.
00:48:53SNA is a definition of one.
00:48:54One is going to finish definitions.
00:48:55One is going to finish definitions.
00:48:57One is going to finish definitions.
00:48:58One is going to finish.
00:48:59One is going to finish a system of national accounts.
00:49:01So, SNA is a system of national accounts.
00:49:04So, S stands for system.
00:49:06One is the UN, United Nations.
00:49:10One is national accounts.
00:49:11Even though the one is the concept definitions.
00:49:13That is how we follow up on it.
00:49:15So it is providing a detailed framework. Comprehensive Conception and Accounting Framework.
00:49:20What does national income mean?
00:49:25S&A definition.
00:49:27It is a total flow.
00:49:33So they are using the term flow of the earnings of the factored owners which they receive through the production of goods and services.
00:49:40The sum total of all the incomes accruing over a specific period of time to the residence which is consisting of wages, salaries, profits, rents, interest.
00:49:50So GDP is a production activity.
00:49:53Production boundaries to the term are defined.
00:49:56So system of national accounts is NIC classification.
00:50:00NIC classification is over product classification name.
00:50:06National industrial classification.
00:50:08National industrial classification name.
00:50:10This product is still in the category of all.
00:50:13So it is classified.
00:50:15Is it okay?
00:50:16Measurement of national income in India.
00:50:19The number of national markets you do.
00:50:25The number of policies are in the category of national account statistics.
00:50:26So the number of policies is NAC, which is National Account Statistics.
00:50:34Actually NAC is NSA.
00:50:37Okay, this is NSA, NSA, so National Accounts Statistics, sorry, N-A-S, National Accounts Statistics, complied by National Accounts Division, which is Central Statistical Organization.
00:51:00Earlier, we said that the Ministry of Statistics and Program is one of the divisions, so we are looking at the competition, and we are doing it, and we are doing it.
00:51:13Key source material, complete macro economic data, is the key source material, how to prepare it.
00:51:20It's a physical, sorry, not physical, Fiscal Responsibility and Budget Management Act, 2003 Act, GDP, current price, value, nominal GDP, real GDP.
00:51:41That means the Ministry of Finance, so we have a specific act on that.
00:51:48So, Fiscal Targets to find, this is helpful.
00:51:52A-K-Pitt revisions, Ministry of Statistical Program and Department, A-K-Pitt revisions.
00:51:59That is a division, it seems to be a division ofonos, the Basis 위에 made, 2004-2005, 2011-2012.
00:52:04Just a statistical organization, JAN 2015, the sector versus estimates, fact and positive profit, basic prices are made.
00:52:14Is it okay ?
00:52:15And, circular flow of income.
00:52:17If you look at the three phases, see, one is produce.
00:52:22Okay, produce.
00:52:26Now, a laptop is produce.
00:52:29I'm talking about one laptop.
00:52:32One is rent.
00:52:36Land.
00:52:38One is labor.
00:52:40Salary or wages.
00:52:42One is interest.
00:52:44Capital.
00:52:46One is profit.
00:52:48The number is complete.
00:52:50Dispose.
00:52:51Which is actually distributed.
00:52:53That is the second.
00:52:55It is distributed as factor.
00:52:57Distribute.
00:52:59How do you do it?
00:53:01How do you do it?
00:53:03How do you do it?
00:53:05This is the consumer.
00:53:07This is the production.
00:53:09This is the distribution.
00:53:11Disposition.
00:53:13How do you do it?
00:53:15You can talk about rent.
00:53:17For example.
00:53:18This is the circle of law of income.
00:53:20This is the circle of law of income.
00:53:22This is the circle of law of income.
00:53:24This is the rent.
00:53:26This is the rent.
00:53:28This is the salary.
00:53:29This is the salary.
00:53:30You can pay the rent.
00:53:34This is the rent.
00:53:35This is the income.
00:53:36This money is the mortgage.
00:53:37How do you do it?
00:53:39This is the income.
00:53:40This income.
00:53:41Okay, interest is 10,000.
00:53:46And what is pending?
00:53:49Profit.
00:53:51So, 30, 40, 50.
00:53:5350,000.
00:53:54Why did he pay for 50,000?
00:53:56Why did he pay for it?
00:53:58He was going to go out.
00:54:00He was going to go into 3 methods.
00:54:03Production, Value Addition, Income method and Expandition.
00:54:09So we have production method and income or distribution method or generation method and
00:54:16expenditure or disposition method.
00:54:19So it flows simultaneously.
00:54:21If you want to go here, go here, go there, go there, go there, go there, go there, go there.
00:54:26It's not static.
00:54:30It's always happening, happening, happening.
00:54:32So it flows simultaneously.
00:54:34So it flows correctly, it flows correctly.
00:54:38If you want to pay the rent, you can pay the rent.
00:54:41It's not the market.
00:54:43If you want to pay one lakh, one lakh, one lakh.
00:54:46One lakh, two lakhs.
00:54:48He may be having a factory all over India.
00:54:50He may have a single stake in a factory.
00:54:53He can pay the rent in a single place.
00:54:55So everything is happening in 17th.
00:54:57And everyone is going to pay.
00:54:59One lakh, one lakh, one lakh.
00:55:01One lakh, three phases of or three methods of national income accounting.
00:55:05So it's a route.
00:55:07One lakh, one lakh, one lakh.
00:55:09Here.
00:55:10And the explanation method, we can say, government, that is, house flow spend,
00:55:15consumption angle.
00:55:17Okay.
00:55:18And government spend spend spend, jean.
00:55:21Government spend spend spend.
00:55:23One lakh goes that you need a small interest.
00:55:25And private interest increase.
00:55:27And again, external, Net Impulse.
00:55:31So, the one lakh four categories come.
00:55:33And every event is a little detail.
00:55:34In the final conception, the two angles,
00:55:39One lakh, private final conception expenditure.
00:55:41Private Final Conception Expenditure, PFC, is called Government Public Final Conception Expenditure
00:55:48which means, government, if a nation-wise, it is government language.
00:55:52PFC, I am not abbreviating it.
00:55:57Private Final Conception Expenditure which means directly going to the host of a Conception.
00:56:03That means, people can use it.
00:56:09This is the level of volume.
00:56:11That is the summation of all the values, multiplied with the market price.
00:56:15If you want to note, this is not a long-term.
00:56:17Households are not a long-term.
00:56:19See, I want to use it and consume it.
00:56:21Then, I want to host food.
00:56:23These are non-profit institutions.
00:56:25The host fund.
00:56:27You can help with customers.
00:56:29You don't want to charity.
00:56:31Then, there is a start-up which means,
00:56:33they acquire for giving or serving to the households
00:56:37and they will not use it for production.
00:56:39And there is a case in case.
00:56:41No.
00:56:42How does it include?
00:56:43Primary products, produced for own conception.
00:56:46How does it include primary products?
00:56:48Domestic service, payment, and household.
00:56:50How does it include?
00:56:52How does it include?
00:56:54How does it include?
00:56:56How does it include?
00:56:58So, if it comes to household land and buildings,
00:57:02you need to include the property and property andCo.
00:57:04Where are the local assets the property?
00:57:06How does it include?
00:57:07How does it include the property and property?
00:57:09How does it include the property?
00:57:11In the land and buildings,
00:57:20So it is a public final concept which is the government.
00:57:23Government is one of the services like collective services.
00:57:26Collective services is the police card spend.
00:57:29If the police are paying for this,
00:57:33If you travel with traffic inspector,
00:57:36If you go to a festival,
00:57:39If you go to a place,
00:57:40If you go to a place,
00:57:41If you go to a place,
00:57:42If you go to a place,
00:57:43If you go to a place,
00:57:44But the government has to provide.
00:57:45Which means it is not actually sold in the market.
00:57:48If the government is spending some money for collective services,
00:57:51Actually, it is not sold in the market.
00:57:54That means we value the market price.
00:57:56That is why we include it.
00:57:58If we compare the formula to it,
00:58:01It is market-mine with market price.
00:58:03That is why we value the market price.
00:58:06If we sell it,
00:58:07If we sell it,
00:58:08If we sell it,
00:58:09If we sell it,
00:58:10That is why we do it.
00:58:11If we do it,
00:58:13If we include it,
00:58:14Transfer payments not included.
00:58:16Like pensions and scholarships
00:58:17These are include
00:58:19It is because that
00:58:20We want to base the consumption angle.
00:58:21Ok?
00:58:22So, G.
00:58:23Next is capital or investment angle.
00:58:25I,
00:58:26C over G.
00:58:28Next is capital or investment.
00:58:29A country or total expenditure
00:58:31Is not consumed.
00:58:32But it is tangible,
00:58:35A asi-Aceousal stocks are.
00:58:36Capital not only fixed thing going to a meeting.
00:58:38So, if you include anything, fixers acquire, machinery, equipment, construction, inventory changes, jewelry, rewards, all of them include.
00:58:49If you have a personal jewelry, it's not included. If you have a lead, it's not included.
00:58:54Accumulation of stocks. Yes, raw materials stock hold. Fewer, finished, semi-finished, all of them include.
00:59:03If you want to use it, you can use it.
00:59:07Next is last one, X minus N category, net exports minus imports category.
00:59:12In the value, negative or positive.
00:59:16Next goes with GDP and welfare. GDP is perfect measure.
00:59:21GDP is perfect measure.
00:59:23GDP is perfect measure.
00:59:27PQ, LI, physical quality of life index.
00:59:31Why is it not perfect measure? This is considered a penalty.
00:59:36What is it considered a penalty?
00:59:38If we look at the distribution of income,
00:59:4270% of the income is top category.
00:59:4670% of the income is top category.
00:59:51How do you say this?
00:59:55Hope you get my point.
00:59:58If this population is good enough,
01:00:00all India is good enough.
01:00:02Chennai Delhi, my four metro cities.
01:00:07It's the rules as well.
01:00:08Chennai, you can show you something,
01:00:09Bombay, you can show you something.
01:00:10Bombay, you can show you something.
01:00:11Bombay, you can show you something.
01:00:12Bombay lifestyle in Australia and different.
01:00:16different than that.
01:00:18There is a small family in a small league.
01:00:22So, if you have a life style,
01:00:25you can share it later.
01:00:27The train will travel,
01:00:29you can search the net line,
01:00:31you can travel the bomb,
01:00:33you can travel the bomb,
01:00:36you can't get it.
01:00:38There is no population.
01:00:39So, there is a busy city.
01:00:42So, if you are in that way, you can say that one year.
01:00:46So, it is actually not calculated.
01:00:50Why?
01:00:50If you are doing all capital income,
01:00:53real GDP divided by total population.
01:00:57Total population is rich category, core category, middle category.
01:01:00That's what we see.
01:01:02So, if you are saying average,
01:01:05then you are saying average.
01:01:07That's not a good thing.
01:01:10So, that's a very major dropout.
01:01:12Okay.
01:01:13And quantity improvements,
01:01:15one of the technology use,
01:01:17that output is available.
01:01:19That impact is available.
01:01:22And third one,
01:01:23government authority doesn't have the issue.
01:01:26Illegal, the issue.
01:01:27Drugs, gambling,
01:01:28you can take care of it.
01:01:30Actually, drugs and gambling,
01:01:31you can take care of it.
01:01:33See, not only for our country,
01:01:35every country is there.
01:01:37And non-market production,
01:01:39non-economic contributions,
01:01:41non-economic contributions.
01:01:42This is the country,
01:01:43citizens, health.
01:01:44Education levels,
01:01:46political participation.
01:01:48We have no concern.
01:01:49What do we do here?
01:01:50What do we do here?
01:01:51We do here.
01:01:52We do here.
01:01:54Okay.
01:01:55We do here.
01:01:56How does it mean?
01:01:57The lack of leisure time.
01:01:59And leisure,
01:02:00And leisure time.
01:02:01Total hours of work,
01:02:02You don't have to use this.
01:02:04Total hours of work,
01:02:05You'll take a lot.
01:02:08You'll help to work,
01:02:09If you want to do a lot of work, it's 15-20 years, so if you want to do a maximum 5 or 10, then you want to do a maximum.
01:02:16In this time, if you want to do a job, it's a 9 to 6 job.
01:02:22It's a 10 to 5 job, it's a 9 to 6 job.
01:02:28It's a 10 to 5 job, it's a 9 to 6 job, it's a 9 to 6 job.
01:02:37If you want to work in a BPO, you can't do anything at any time.
01:02:45Most of the health-wise measures, health-wise issues, all the time is nice to work.
01:02:56There is a system, laptop work, that's the main problem.
01:03:00What do you do? If you work hard, you work hard.
01:03:04When you work more number of hours, in 24 hours, leisure time.
01:03:10Okay.
01:03:11And economic bads, crime, pollution, traffic, it's not our fault.
01:03:16It's not our fault.
01:03:17If you want to do a value, the GDP is correct.
01:03:20What do you do with GDP?
01:03:22It will lower your value.
01:03:24And volunteer work, if you want to do something,
01:03:26if you want to do something positive or negative, you can do something.
01:03:30Most of them are not working for money.
01:03:33Volunteer work services are in CSL.
01:03:36What do you do?
01:03:38What do you do?
01:03:39How do you calculate?
01:03:40And economic welfare contribute to your feeling.
01:03:43How do you contribute to your mental equality?
01:03:45Leisure time.
01:03:46How do you do?
01:03:47How do you maintain?
01:03:48Leisure time is okay.
01:03:49How far it is being maintained.
01:03:51Right?
01:03:52So, you can see it.
01:03:54How do you rest on Sunday?
01:03:57That's why you are in class.
01:03:59We don't have class.
01:04:01We don't have class.
01:04:03How do you rest on Sunday?
01:04:05We don't have class.
01:04:06We don't have class.
01:04:07We don't have class.
01:04:08We don't have class.
01:04:09We don't have class.
01:04:10We don't have class.
01:04:12Okay.
01:04:13Negative and positive externalities.
01:04:15External effects.
01:04:16So, the market will track.
01:04:19It will not form part of the transactions.
01:04:22That's why we consider it.
01:04:24And different expenditures.
01:04:26That's why you do one thing.
01:04:28That's why you sell it.
01:04:29That's why you sell it.
01:04:31So, it's not exclude.
01:04:34It's not exactly correct measure.
01:04:38So, properly it's not reflecting.
01:04:41That's why I mean.
01:04:43And one more important, beautiful concept is the production of repairs.
01:04:47When we look at second-hand goods, we consider a license.
01:04:52So, if we look at a car, if we look at a car, he is a little sophisticated life.
01:05:00See, he might have bought a second-hand goods.
01:05:03That's why he is really sophisticated.
01:05:05That's why we do it.
01:05:06That's why we do it.
01:05:07And one more thing is repairing car.
01:05:09If we look at a car, the car is repairing service.
01:05:13Then repairing service.
01:05:15That's why we do it.
01:05:16That's why we do it.
01:05:17That's why we do it.
01:05:18That's why we do it.
01:05:19That's why we can't do it.
01:05:21Then, if we look at the natural income bidding,
01:05:23It's not the issue in the national income,
01:05:25It's not the major problems.
01:05:28Then, if we look at the national income,
01:05:30What is the perfect measure to discuss this?
01:05:35It is the advantage of the significance and complete limitations, challenges or complexity or conceptual difficulties with respect to national income accounting.
01:05:43What is the definition? What is the definition of the definition?
01:05:47And there are many distinctions to make.
01:05:50Final goods and intermediate goods.
01:05:52What is the final? What is the intermediate goods?
01:05:55Now, for consumption, we can make bread.
01:06:00We can make bread.
01:06:02Now, how do you classify it?
01:06:04We can make bread.
01:06:08We can make bread.
01:06:11We can make bread.
01:06:13We can make bread.
01:06:16If you make the final goods, we can make the final goods.
01:06:22We can make bread.
01:06:23We can make the final goods.
01:06:24We can make the final goods.
01:06:25We can make the final goods.
01:06:27I hope you understand.
01:06:29So, what do you mean?
01:06:31What is the final goods?
01:06:33What is the final goods?
01:06:34If you say the definition of the final goods,
01:06:38You can make the final goods.
01:06:41Intermediate goods.
01:06:42I am going to sell it.
01:06:43You can make the final goods.
01:06:44I am going to sell it.
01:06:45I am going to sell it.
01:06:46Now, the distinction is the major problem.
01:06:48The issue of transfer payments.
01:06:49The transfer payments,
01:06:50Social Security, Pension, Unemployment Contribution,
01:06:52Unemployment Contribution,
01:06:53I am going to sell it.
01:06:54But, the distinction is the major problem.
01:06:57And, the issue of transfer payments.
01:06:59The transfer payments,
01:07:00Social Security, Pension, Unemployment Contribution.
01:07:05This is a good deal.
01:07:07I do not know a type of sophisticated life.
01:07:11But, you can make it value.
01:07:13That is a good deal.
01:07:15Durability of goods.
01:07:16That is related services.
01:07:17Incorporating of distribution of income.
01:07:19That is the difficulty.
01:07:21New goods are constant price.
01:07:23It is a problem.
01:07:24The new goods are constant price.
01:07:25What is the price of the goods?
01:07:27It is a price.
01:07:28It is a price.
01:07:30It is a price.
01:07:31The price is a price.
01:07:33It is a price.
01:07:34It is a price.
01:07:35It is a price.
01:07:36Again, you can make a value of the market price.
01:07:38You can make a constant price.
01:07:40You can make a constant price.
01:07:42When you can do it,
01:07:43You can do it.
01:07:44You can make a constant price.
01:07:45The government can do it.
01:07:46If you don't have the government.
01:07:47What does the government have changed?
01:07:48What happened after the pandemic pandemic?
01:07:50You can do it again.
01:07:51But we didn't have to go to the hospital.
01:07:52Nobody has moved.
01:07:54The government is taking complete steps.
01:07:56In the same time,
01:07:57The government is taking complete steps.
01:07:58When they are in the same path.
01:08:00To the roads clean,
01:08:01To the south side,
01:08:03To the Punjab or Himalayas.
01:08:05All the same thing is.
01:08:06This pandemic has started over six months.
01:08:09In the last pandemic,
01:08:10In 2020, the pandemic started.
01:08:12In six months culture, you can speak about Himalayas.
01:08:15I'm going to show you how to talk about it.
01:08:18Really, it's news for you.
01:08:20You can refer to it.
01:08:22In Ganges, in Ganges, it was clean.
01:08:25I think that the pandemic has come.
01:08:28In Delhi, we have 15-20 years.
01:08:33The pandemic has come.
01:08:35The pandemic has come.
01:08:37We have to share it with you.
01:08:40In 15-20 years,
01:08:43we have to talk about climate and weather.
01:08:47In a particular place,
01:08:50the climate has become red and orange.
01:08:56It has become red and orange.
01:08:59Which means it's dangerous.
01:09:02This is the pandemic.
01:09:04The government is preparing for everything.
01:09:06How do you value it?
01:09:08This is a problem.
01:09:09Right?
01:09:10How do you see your data?
01:09:11Again, it matters.
01:09:12How do you rely on it?
01:09:14Again, it matters.
01:09:15Non-monetized sector.
01:09:16How do you value it?
01:09:18How do you value it?
01:09:19How do you produce it?
01:09:21How do you produce it?
01:09:22How do you produce it?
01:09:23How do you produce it?
01:09:24How do you draw it?
01:09:40Conception of fixed capital, depreciation and estimation is again a problem.
01:09:47So there are some errors happening.
01:09:52So now the part is done.
01:09:54So go through the concepts, any doubts you can get it clarified.
01:09:57Problems you can refer to the book series case.
01:10:00Book series you can work out.
01:10:03Any doubts again you can text to me.
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