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Is financial assistance to flood victims included/excluded in national income?

1.70K viewsDecember 9, 2023National Income and related aggregates

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Anurag Pathak30.81K December 9, 2023 0 Comments

Is financial assistance to flood victims included/excluded in national income?

Anurag Pathak Changed status to publish December 9, 2023

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Anurag Pathak30.81K Posted December 9, 2023 0 Comments

No,

the financial assistance to flood victims will not be included in the national income as it is a transfer payment.

Explanation:-

Flood victims do not provide any factor services against financial assistance.

Thus it does not add to the current flow of goods and services in the economy.

Anurag Pathak Changed status to publish December 9, 2023

Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.