Is Royalty is included/Excluded in National Income
Yes,
Royalty will be included in the national income as royalty is a productive income.
It is received by the owner of the land against the land used by the producer.
As land is used in the production process. it adds to the flow of goods in the economy.
It is added to the national income through the Income method.
National Income = Compensation of Employees + Rent + Royalty + Interest + Profit + NFIA
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