National Income:
The total income of residents of an economy in a given time period after providing for capital consumption and net indirect taxes .
NI = NNP - Net indirect tax
OR
NI = NNP - Indirect tax + Subsidy
where,
NI = National Income
NNP = Net National Product
Indirect taxes are excise and sales tax.
Subsidy is government grants to supplies of goods and services.
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