Which of the following will not be included in the estimation of national income?

All of the above

The correct answer is Option 4: All of the above

Each of the listed transactions would not be included in the estimation of national income for the following reasons:

• Rajan sold his 2nd hand car: The sale of a used car is a transfer of ownership of an existing asset and does not involve the production of new goods or services.

• Value of rice while preparing rice flour: This is a part of intermediate goods used in the production process, but since national income measures final goods and services, intermediate goods are not included separately.

• Sale of equity shares of SBI: The sale of financial assets like equity shares does not involve the production of new goods or services and thus does not contribute to national income.