GDP

Gross domestic product (GDP) refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living.

1. Expenditure method:
GDP = private consumption + gross investment + government spending + (exports imports)

2. Total income Approach :

GDP = compensation of employees + gross operating surplus + gross mixed income + taxes less subsidies on production and imports GDP = COE + GOS + GMI + TP & M SP & M

3. Production approach
Gross Value Added = Value of output Value of Intermediate Consumption. Value of Output = Value of the total sales of goods and services + Value of changes in the inventories. The sum of Gross Value Added in various economic activities is known as GDP at factor cost. GDP at factor cost plus indirect taxes less subsidies on products is GDP at Producer Price.

GNP

Gross National Product (GNP) is the market value of all products and services produced in one year by labor and property supplied by the residents of a country.

DIFFERENCE B/W GDP AND GNP

GNP measures the output generated by a country's enterprises (whether physically located domestically or abroad) GDP measures the total output produced within a country's borders whether produced by that country's own firms or not.

NNI

Net national income (NNI) is an economics term used in national income accounting. It can be defined as the net national product (NNP) minus indirect taxes. Net national income encompasses the income of households, businesses, and the government. It can be expressed as: NNI = C + I + G + (NX) + net foreign factor income - indirect taxes - depreciation where: C = Consumption I = Investments G = Government spending NX = net exports (exports minus imports)

PCI

Per capita income or income per person is a measure of mean income within an economic aggregate, such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population. It does not attempt to reflect the distribution of income or wealth.

PLANNING COMMISSION
The Planning Commission is an institution in the Government of India, which formulates India's Five-Year Plans, among other functions. first began in India in 1930s under the British Raj, and the colonial government of India formally established a planning board that functioned from 1944 to 1946