National income accounting refers to the set of methods and principles that are used by the government for measuring production and income, or in other words economic activity of a country in a given time period.

The various measures of determining national income are GDP (Gross Domestic Product), GNP (Gross National Product), and NNP (Net National Product) along with other measures such as personal income and disposable income.

National income accounting equation is an equation that shows the relationship between income and expense of an economy and other categories. It is represented by the following equation:

Y = C + I + G + (X – M)

Where

Y = National income

C = Personal consumption expenditure

I = Private investment

G = Government spending

X = Net exports

M = Imports

The most important metrics that are determined by national income accounting are GDP, GNP, NNP, disposable income, and personal income.

• As per OECD (Organisation for Economic Co-operation and Development), inclusive growth is economic growth that is distributed fairly across society and creates opportunities for all.
• UNDP has described inclusive growth as “the process and the outcome where all groups of people have participated in growth and have benefited equitably from it”.
• It lessens the fast growth rate of poverty in a country and upsurges the participation of people into the development of the country.

• Address the constraints of the excluded and marginalised.
• Participation from all sections of society
• Reduction in disparities among per capita incomes between different sectors and sections of society.
• Non – discriminatory
• Higher potential of poverty reduction
• Ensure access of people to basic infrastructure and basic services/capabilities such as basic health and education.
• Include poor, lagging socio – economic groups and lagging regions as well as they are partners in this growth.

Social Sector related schemes

The list of schemes can be found here

https://www.civilsdaily.com/type/govt-schemes/