National Income / राष्ट्रीय आय
National Income refers to the aggregate value of goods and services produced in an economy over a year. The source introduces important aggregates such as GDP, NDP, GNP and NNP.
National Income किसी economy में one year के दौरान produced goods and services के aggregate value से संबंधित concept है। Source GDP, NDP, GNP और NNP जैसे important aggregates explain करता है।
Gross Domestic Product – GDP / सकल घरेलू उत्पाद
GDP is the final value of goods and services produced within the geographical boundaries of a country during a year.
GDP किसी country की geographical boundaries के भीतर one year में produced final goods and services का value है।
Net Domestic Product – NDP / शुद्ध घरेलू उत्पाद
NDP = GDP – Depreciation.
NDP प्राप्त करने के लिए GDP से depreciation अर्थात capital goods में value loss subtract किया जाता है।
Gross National Product – GNP / सकल राष्ट्रीय उत्पाद
GNP is the total value of final products and services produced during a given period by nationals of a country, as described in the source.
Source GNP को country के nationals द्वारा given period में produced final products और services के total value से relate करता है।
Net National Product – NNP / शुद्ध राष्ट्रीय उत्पाद
NNP = GNP – Depreciation.
GNP से depreciation subtract करने पर NNP प्राप्त होता है।
National Income at Factor Cost / साधन लागत पर राष्ट्रीय आय
The source states that when NNP is obtained at factor cost it is called National Income. It is derived by deducting indirect taxes and adding subsidies to NNP at market price.
Source के अनुसार NNP at Factor Cost को National Income कहा जाता है। NNP at market price से indirect taxes deduct करके तथा subsidies add करके इसे calculate किया जाता है।
Direct Taxes / प्रत्यक्ष कर
A direct tax is paid directly to the government by the person upon whom it is imposed.
Direct Tax वह tax है जो जिस person पर impose किया जाता है वही directly government को pay करता है।
Examples listed in the source include income tax, corporate income tax, capital gains tax, stamp duty, land tax, estate duty and wealth tax.
Indirect Taxes / अप्रत्यक्ष कर
An indirect tax is collected by an intermediary from the person who ultimately bears the economic burden.
Indirect Tax में tax intermediary द्वारा collect किया जाता है जबकि final economic burden किसी अन्य consumer या person पर पड़ सकता है।
Examples in the source include sales tax or VAT, customs duty, excise duties and electricity duty.
Goods and Services Tax – GST / वस्तु एवं सेवा कर
The source describes GST as a system seeking a unified tax framework for goods and services.
Source GST को goods तथा services के लिए unified taxation framework के रूप में describe करता है।
Introduction / शुरुआत
The source states that GST was first proposed in the Union Budget speech of 2006-07 and came into effect on 1 July 2017.
Source के अनुसार GST पहली बार Union Budget 2006-07 में propose किया गया और 1 July 2017 से लागू हुआ।
Input Tax Credit / इनपुट टैक्स क्रेडिट
A major feature highlighted in the source is availability of tax credit at each stage of the value chain.
GST की important feature value chain के each stage पर tax credit की availability है।
Formula Revision / सूत्र पुनरावृत्ति
- NDP = GDP – Depreciation
- NNP = GNP – Depreciation
- National Income = NNP at Factor Cost
- GDP → Domestic geographical boundaries
- GNP → Nationals of country
- GST implementation → 1 July 2017