The Current payment on foreign loans are not included in personal Income. In economics, personal income refers to an individual’s total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period.

Transfer paymentOne-way payment of money for which no money, good, or  service is received in exchange. Governments use such payments as means of income  redistribution by giving out money under social welfare  programs such as social security, old age or disability pensions,  student grants, unemployment compensation, etc. Subsidies  paid to exporters, farmers, manufacturers, however, are not  considered transfer payments. Transfer payments are excluded  in computing gross national product.

The Liberalization of economy is to the main factor that led to rapid expansion of Indian exports. Imposition, Recession and Diversification does not contribute to export

 A necessary level of consumption produces differences in income and saving. This implies that the poor household have lower saving rates because they cannot “afford to save” after buying the necessities.

NNPMP = GNPMP – depreciation

When new house is given on rent the factor income will increase. Hence, it will be part of National Income. Rests are part of Transfer Payment.

The CSO provides data under a new revised series in which the base year is taken as 2011–12.

Under the consideration of India economy, census of agriculture, is done by production method.