Question

From the following data, estimate the value of net indirect taxes: 

S. No.	Particulars	Amount (in ₹ crore)
(i)	Net National Product at Market Price (NNPMP)	1,400
(ii)	Net Factor Income from abroad	(−) 10
(iii)	Gross National Product at Factor Cost (GNPFC)	1,300
(iv)	Consumption of fixed capital	80

Answer 1

NNP^MP = GNP^FC + NIT− Depreciation

1,400 = 1300 + NIT − 80

NIT = 1,400 − 1,300 + 80

NIT= ₹ 180