Is financial aids received from abroad after Fani Cyclone included/excluded in domestic income of India?
Is financial aids received from abroad after Fani Cyclone included/excluded in domestic income of India?
Anurag Pathak Changed status to publish December 9, 2023
No,
It will not be included in the domestic factor income as financial aid is a transfer income and no factor service is provided in return.
Explanation:-
Only factor income received against factor services is included in domestic income.
The receiver does not provide any factor services against the financial aids received for Fani Cyclone.
Thus, it does not add to any current flow of goods and services in the economy.
Anurag Pathak Changed status to publish December 9, 2023
