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National Income Trends And Sectoral Contribution

Telangana Open School (TOSS) · Class 12 · Economics

Quick revision notes for National Income Trends And Sectoral Contribution — Telangana Open School (TOSS) Class 12 Economics. Key concepts, formulas, and definitions for last-minute revision.

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Key Topics to Revise

1

History of National Income Accounting in India

  • Dadabhai Nauroji was the first to estimate India's national income in 1867–68, placing per capita income at ₹20.
  • Other early estimators include William Digby (1899), Shirras (1911, 1922), Shah and Khambatta (1921), and R.C. Desai (1931–40).
  • Prof. V.K.R.V. Rao made the first scientific estimate in 1931–32, dividing the economy into sectors like agriculture and corporate.
2

Trends in National Income and Per Capita Income

  • National income and per capita income have steadily increased since 1950–51.
  • In 1950–51, national income was ₹4,48,483 crores (constant prices) and rose to ₹1,25,19,976 crores in 2021–22.
  • Per capita income grew from ₹12,493 in 1950–51 to ₹91,481 in 2021–22 (constant prices).
3

Sectoral Contribution to National Income

  • The economy is divided into three sectors: Primary (agriculture, mining), Secondary (manufacturing, construction), and Tertiary (services).
  • In 1950–51, the primary sector dominated with 57.2% share in national income.
  • By 2020–21, the tertiary (service) sector became the largest contributor with 53.89% share.

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Full Notes

Key Concepts

National income is the total marketIt is the average income earnedThe economy is divided into threeBefore independence

Frequently Asked Questions

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National Income Trends And Sectoral Contribution covers several key topics that are frequently asked in Telangana Open School (TOSS) Class 12 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
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Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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