In India, we tend to obsess a lot about the growth rate of national income, worrying if it drops even a tenth of a percentage point below market expectations, and checking fiscal and monetary indicators with respect to the value of the national product. By contrast, we worry much less about the quality of that growth, or even its sectoral distribution. But surely the latter is more important, both for the conditions of people and the overall health of the economy now and in the future. According to trend seen the service-led trajectory of the Indian economy continues, while some of the more significant sectors from the point of view of employment and infrastructure have lagged behind. services have accounted for around 54 per cent of GDP in the last few years, and specifically during the tenure of the Modi government. But all services still cover only around a quarter of employment — and the bulk of those jobs are in low paid and productivity services (like pakoda selling) rather than the professional services that are expanding most rapidly in income terms. The primary sector, which continues to employ well over half the recorded work force, accounts for only around 18 per cent of GDP. Meanwhile manufacturing remains largely stable in terms of both income and employment shares, at around 18 per cent.

Which of the following is an example of "Transfer income"?

Old age pension paid by the government of India

The income received by an individual without rendering any productive service in return is known as Transfer Income. Transfer Income is a unilateral concept and is not included in National Income, as it does not involve the production of goods and services. All the options except old age pension have rendered their services to their respective organisation either in the current period or in past.