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Is remittance part of GNP ? Is it transfer payment ?


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Source : Vivek Sir's Book

Factor income is basically the income earned by the four factors of production i.e. profit, rent, 
interest and wages but it does not include the transfer incomes/payments. Hence GNP is the sum of  GDP  and  factor income  and it does not include transfer payments  (free money)  received from the rest of the world (for example remittances). 
National Disposable Income = National Income + Transfer payments (free money)
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