Net National Income is Gross National Income or Gross National Product less depreciation.
Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad. It measures the monetary value of all the finished goods and services produced by the country’s factors of production irrespective of their location.
Only the finished or final goods are considered as factoring intermediate goods used for manufacturing would amount to double counting. It includes taxes but does not include subsidies. When depreciation is deducted from the GNP, we get Net National Income.
Net National Income