Identify which of the following is not included while estimating national income?

Purchase of new shares of domestic company.

The correct answer is Option (4) → Purchase of new shares of domestic company.

While estimating National Income, only the value of goods and services produced during the year is included. This means production-related activities are considered.

1. Rent received from commercial banks located in Delhi: Included, as it is a factor income from a production unit within the domestic territory.

2. Salary received by an Indian from any foreign embassy: Included, because it is earned by a resident from a foreign entity operating in India, and foreign embassies are treated as part of the foreign territory, so it counts as factor income from abroad.

3. Direct purchases by foreigners from Indian markets: Included under exports, as it involves the sale of goods to non-residents.

4. Purchase of new shares of domestic company: Not included, because it is a financial transaction, not a production activity. Buying shares does not involve production of goods or services.