National Income is the:

National Income is the net domestic product at factor cost.

The net money value of all the finished goods and services produced within a nation's domestic territory over the course of a year is referred to as the nation's net domestic product at factor cost.

The term "national income" also refers to the Net National Product at Factor Cost. Net Domestic Product at Factor Cost and Net Factor Income from Abroad are put together to form Net National Product at Factor Cost.