National Income in India is measured in terms of-

Correct option is A

The correct answer is (a) Net National Product at Factor Cost.
· Net National Product (NNP) at Factor Cost: In India, national income is primarily measured in terms of Net National Product at Factor Cost. This measure reflects the net output of the economy after accounting for depreciation (wear and tear on the capital goods) and the cost of production factors, such as labor and capital. It represents the income earned by the factors of production (labor, capital, land, and entrepreneurship) within the country.
· Net National Product (NNP): It is the total market value of all final goods and services produced by the residents of a country, minus depreciation.
· Factor Cost: It includes the costs of all factors of production used in creating a good or service, excluding any taxes or subsidies.
Additional Information:
· Gross National Product (b): GNP is the total market value of all final goods and services produced by the residents of a country, including income from abroad, before accounting for depreciation.
· Net National Product at Market Price (c): This measure includes the value of goods and services at market prices after accounting for depreciation but includes indirect taxes and excludes subsidies.
· Gross Domestic Product (d): GDP is the total market value of all final goods and services produced within a country’s borders in a given period. It does not include income from abroad and is measured at market prices.