is CA Mohnish Vora (MVSIR Q Faculty for CA Foundation- Business Economics & BCK CA Intermediate- Financial Management & Economics Known for making concepts Chilltu (Easy) and amazing notes G Amongst the TOP educators on Unacademy 3+ years of Teaching Experience 10th & 12th Merit Student (CBSE) Q National Level Roller Hockey PlayerPe UUme cies) ry Renken ot cal CHAPTER 1 Determination of National Income (Weightage : 8 to 12 Marks) REVISION , thenCA Intermediate - Nov 2022 Exa Cover FM & EFF with CA Mohnish Vora (MVSIR) pear ae ea Starting Date 6t June 2022 1st June 2022 Days Mon, Tue, Wed Thu, Fri, Sat Time 2.30 PM to 4.30 PM 2.30 PM to 4.30 PM Chapters Covered FM Chp 4, 5, 6 EFF Chp 1, 2, 3, 4 FM Chp 1, 2, 3, 7, 8, 9, 10 How to watch Step 1: Install Unacademy Learning App Step 2: Take Unacademy Plus/Iconic Subscription using code - “MVSIR" for max discount Step 1: Install Unacademy Learning App ‘Step 2: “Follow CA Mohnish Vora” classes ? eae ; : . a o p 3: Start watching Special and start watching Phe Classes es per | CLASSES as per above schedule for at schedule. 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Lugaldy Ratios (Bart 2) Lec 02 FM Chapter3 > play ‘uit Rato (Part), cages ksempeaa ent:Pe UUme cies) ry Renken ot cal CHAPTER 1 Determination of National Income Unit 1 Macro Economic Aggregates and Measurement of National Income , then‘National Income - Basics > The performance of an economy depends on output of goods & services produced by if, whichis measured by National Income. > National Income is defined as the - net value of a final feconomie goods and services produced Within the domestic teritery of a country ‘nan aecounting year lus the net fector income from abroad, > According to the Central Statistical Organisation (C50) ‘Nation income is the sum Total of fecTor incomes generated by the normal residents of a country in the form of wages, rent, interest ond profit inon accountng year’ Usefulness And Significance Of National Income Estimates Tt provides « framework for analyzing the short-run performance. ‘The distribution pattern of national income helps businesses to forecast future demand, 3) Economic welfare depends on magnitude and distribution of national income 4) NE shows composition and structure of NI of different sectors & variations in them Helps fo make comparisons of trend and speed of development 5) Provides quantitative besis)for fssessing, Choosing & evaluating economic polices 6) Shows income distribution and possible inequality in its distribution. Make comparizons of statistics, such as ratioe of investment, taxes, to GDP Provided guide to Wake polices for growth and inflation Tn order to ealelate National Income, first wwe need to understand the concept of GDP. Grose domestic product (GDP) is a measure of > monetary value of > all final > econamie goods and sePices, > gross of depreciation, > produced. within the domestic Monetary Valve Money enables. us 10 measure and find cagregate of different types of products expressed In different units of measurement by omverting them in Intermediate goods Final Sends > Intermediate goods refer to those goods which ore used either for Final goods are used either epee >for consumption (Household || Se duction in the same yor. sector]; or ‘They do not end up in final consumption, nd > for investment. [Business | | THY as ether oa are not capital goods either. > They have derived demand. Intermediate goods are used up in the some year: if ‘they remain for’ more than one year ‘They ore neither resold nor undergo further transformation Feestery of country impress of production > daring @ sven tne period eelceneees Creer oes ‘hen they ore treated a final goods ‘Economie Activities 2 types sed in production process which are NI4 GDP isa flow’ measure of output er time period ond. includes ‘low Measure =| | eset al reent aloret eel NE GDP includes these 6/5, which ore | | counted in GDP produced through economic activity, which ore ‘exchanged in markst & valued at market price 1) Capital goods ond 2) Inventory investment = Closing Stock - Opening StockExclusions from GDP. Real GDP Real GDP ov GDP at constant prices refers to the total money value of the final goods and services produced within the domestic fervitory of a country during on accounting year, eftimated using bese year prices 11s on inflaton adjusted measure Tris not affected by changes ih prices! 11 changes only whenithere. i= change’ in the amount of output produced inthe economy. Real GD?P is a better measure of economic well being a it shows the ‘ue picture ofthe change in production of an economy. > Transfer Payments - Government making « payment, without goods or services. being received in return. E9- sociol security benefits, Unemployment compensation etc. > Financial transactions - Stocks & bonds which ore exchanged during ‘the period are not included ~ de not directly involve current production However, value of services that accompany sale and purchase (eg, fees paid 70 realestate agents and lowyers) is included, > Sale of 2% Hand goods _Nen-reperted output - illegal transactions. Eg - narcotics ond gombli ‘Nominal 6D? ‘GDP Deflator| > Nominal DP" or = GDP estimated on basis of Nominal 6D? current year's market prices, tis called 60? Detar «§ x 100 > Nominal 6DP changes from year to year for two reasons: - - 1) The amount of goods and services produced changes, and - rr in Yo 2) When market prices change. Changes in GDP due to changes in Sees eer rae nea catiefe Ca ECO) prices fail to correctly explain performance of economy, (GDP Deflator in Vr 1 st erie onl sei asc tlre lc > the 9 nfkih referee nore rene of « || | Sxabes fn etn, ferein | nuded | eves coal up By be win er cere the neste Sere Oe ere theo cteie the cemartic | > [profits cared inh by conpary forrowed firm | _mcbded | Besded compared to the term ‘domestic. 3, | Earhings of Thdian corporations versear Excluded | Included Darel tN come detect ateresertetcseh ya | emit ofan rarer wary rare Encoded | elded people WITHIN the domestic territory | rod erpod by Conpany Vien nSoriearpary niUE Excluded | Tneluded‘Net Factor income from abroad (NETA) Factor income earned by domestic factors of production ‘employed in rest of world Operating Surplus Income from Property + Income from Entrepreneurship oR Rent + Interest + Profit Factor income earned by factors ‘of production of rest of world employed in domestic teritery ‘Market Value Ve Factor Cost Me = FC + Indivect Tox - Subsidy OR Mp = FC + Net Indirect Tax Mixed Thcome of Self Employed Difficult to separate labour income from capital income when people provide both labour and capital services. Eg self-employed lke lawyers, engineers, proprietors ete (AKA ~ Domestic tne Fector Theome earned in Domestic Territory) NDP MP Indirect Taxes + Subsidies oR NDP AP Net Indirect Taxes Gross Domestic Product at Factor Cost (GDP FC) {GDP MP ~ Indirect Taxes + Subsidies Compensation of employees: Operating Surplus (rentsinfereste profit) Mixed Tncome of Self employed Depreciation GDP Per Copita al GDP / Totel Population Measure of country's economic output per person. Indicator of the standard of living of a country Personal Tncome Income received by household PE (Basic Formule) sector including "Non-Profit Instittions| "serving National Income Households from all sources income reod but not cored PE (3 Formula) ‘National Income - income earned but tot reed OR Compensation of employees Tncone from prop & ent ‘eceruing 10 govt admin dep PE (@ Formula) Operating Surplis (rent + interest profit) = | Saving of non-dept ent National Income Mixed Tacome of Self-employed ‘Soving of private corporates || ~ Undistributed profits “Corporate profit tox . ‘National debt interest Net interest payments made by households Corporate Tox Current transfers from ‘government and ROW “Tr Pay to householdsDisposable Personal Income (DE) 11 is a meosure of amount of money in the honds of the individuals that is available for their consumption or savings. DE = Personal Income ~ Personal Income Tax - Non Tax Payments i Domestic Income (NDPfc) has 2 parts Part 1: Income from domestic product accruing to the public sector~ =Ineome from P/E accruing to\govt admin dep + Savings of Non dep enterprize: Where, Departmental Enterprise nclude- Rallnays Post & telegraph ete Non-Deportmental Enterprise inclide- TOCL, GAIL, LIC ete Port 2: Income from domestic product accruing to private eter =: NOPfe ~ Tne, from P/E accruing to govt admin dep Savings of Non dep ent. — Private Income | Treame from domestic product Tt is @ measure of the acerving to private sector income (both factor income || Tye Ineo (oat factor income | [= [Net factor income from ebroad ‘sccrues to pevate sector | |=] National debt interest rom all sources within and | Too From See * | government & rest of world = Private Income = Undistrbuted Profits - Corporate Tax Trebder rs Erte Jn eed or ot eed | Aaeters ed icone reed Houthld ‘ satires Tranter Don eed Nera / Tarved coe reed or ot eat Income t Prvate Sector Tronfer cone ed rot ed |Past Ben Demeter [norte - rite ecortrone | Prats Sector ‘Giccular flow of income Methods of National Income Caledation & Date Circular flow of income refers to the continuous cinculation of- Laaninaal hemline asta prodetion, income generction &\ expentore Valve Added Method Irving ifferentcrors ofthe economy, There are 3 pases: fortroduct Method | The sum of net vahes added by all the | Contribution of are ar Industral Origin | prodicng enterprise of the entry | production units SAI Firms produce G75 with help of factor services or Net Output Method actor Income Method EPRI Bi fw of Fate fasnes ee fon of ran) | RTT ee | Tt oer ames sented nthe | Relive contrition CS Woses. interest and profits from firms to the |'| orbistributed Share _| Production of geeds ond-servies | of foctor owners BPR ocscctcsocure Sim of ep of S spending wi | Foy of comamption [ZEIGE Income received by factors is spent on consumption ) | Expenditure method | 1. government. ae RS MEP of 6/5 ond investment goods. This exp. leads to ||| oF Income Disposal | 2. consumer households, and ‘expenditures POPPA further production of 6/5 & sustains circuiar flow. 3. producing enterprises (Firms)Vale of pit WPS Value of Oupst in Vee of Outpat nS Conpensation of Employees =[mermedateGnsinPS| [=] tntermediane coin 5] _|=[tntemedire cons. in TS = [ Operating Srp.) =| eva bys I4F| = eva by ss We [=[eva by 75 + [iced treone of Sef-Eng i NDP fe Gros Value Added ot Markt Price (6VA mp) or GDP mp_ | efnea “he vales af The follwing font ore clo Tf Van of Outlet aan separate = [ NNPife (Netonl teens) Included 0s per Product Method Vale of Ont Tncome earned by owners of primary factors of prod. ave 4) own occount production of Fixed assets included. Thus, while woges of labourers will be included, 1) Tmputed value of production of goods for | Sales + Change in Stock Pend ti retired workers will be exch. ‘self consumption (e9- agriclture) ©) imputed rent of owner occupied houses Gross Domestic Fixed Capital Formation, ie Invt in Fixed. Assets. by household, Pv Business, Govt > Changes in Tnientory OR Inventory Investment Exp. on Final Goods by Households & NPISH Exports - Imports Exports depict the perce rade by predwed in Bomestic country + Value of primary products Which produced for om eons. + Payments for domestic Services which one household Fenders to another, Government expenditure fon pensions, scholarships, Unemployment allowance fete. should. be excluded because these are “transfer payments. > Net Acquisition of Valuables Qader be + Net exp. on foreign financial essets or net Foreign it. DerMinistry of Statistics and Programme Implementation (MOSPI) ‘Measurement Of Netional Tne ‘Therefore, a combination of output method and income method is wed. + 7 Yalue-aded method 5 used n- commodity producing sectors Ike egricltre and manufacturing Central Statistics Office > National Accaunts Division Income method Notional Account? Statistics (NAS) Tn India Reliable statistical data isnot avaloble, thus its not possible to estimate India's NE wholly by one method Insmall cole sector net value adsed's estimated by the income method ond > Tneanstruction sector net value added is estimated by the expenditure method also. Method considered suitable for measurement of National Income of developed economies ‘be mast suitable for developed economies where data in respect of factor income is readily avalable: With the growing facility in the use of the commodity flow method of estimating expenditures, an increasing Broportion of the national income i being estimated by expenditure method ‘System Of Regional Accounts In Tndia State Income or Net State Domestic Product (NSDP) is @ measure in monetary terms of volume of all 6/5. produced in state within a given period of time (generally ‘Syeor) accounted without duplication Per Capita State Income is cbtained by dividing the NSDP (State Income) by the midyear projected population of the state. ‘State level estimates are prepored by the’ State Thcome Units of respective State Directorates of Economics and ‘Statistics (DES). CSO assists & advices in preparation Certein octiities such oF allways, communications honking and insurance ond central” government administration, that cut acrost state boundaries, ond thus their economic contribution canpot be assigned to any one state directly ore krawn os the '‘Supra-regionel sectors of the economy. The estimates for these ‘ctivities are compiled for economy as a whole ond Gllocated to states on basis of relevant indicators. | Gan GDP o country be taken a2 an inde fare? |] No, since GDP, measures exclude the following which are critical for the overall wellbeing of citizens. 2) Income distributions || by quality improvements in systems ond processes He due to “technological as” well os managerial Inovations, ©). Productions hidden from govt., either they are evading Taxes or because it is illegal (drugs, gambling ete). Non-market production ond _Non-econamie contributors to well-being for example: heath of |] alcountrys citizens, education levels etc ©) Economic ‘bads! for example: crime, pollution, |] snaffic congestion ete which make us worse off. 4) Volunteer work rendered without remuneration 9) Mony things thot contribute to. our economic welfare such as, leisure time, folness, gender ‘equality, security of community feeling ete Limitations And Challenges Of ‘National Income Computation ° » 9 3 2 A » lack of an agreed definition of national income, ‘accurate distinction between final goods” ond intermediate goods, issue of transfer payments, difficulty of incorporating distribution of income, Yeluation of a new geod ot ‘constant prices, ond Tnadequacy of data ond lack ‘of reliabity of aveilble ote, of recording of incomes due 10 literacy ond ignorance, lack of proper occupational classification, and ‘eccurate estimation of consumption of fixed capitalPe UUme cies) ry Renken ot cal CHAPTER 1 Determination of National Income Unit 2 The Keynesian Theory of Determination & of National Income , thenin previous unit, Tex post (realized) velues were used Eq. aggregate consumption (C) denotes what people have. cectually consumed > In this unit variables are defined in ‘ex-ante (enticipeted) terms or in terms of what is intended or planned. In theoretical madel of economy” which (Giseussed in this unt), ‘ex ante’ values of these ‘variables ore our primary concern Eq. here ‘consumption - what people in an economy plan 40 Exonte values ore used, if we wont to predict what brium value of eutput or GDP is. Before Keynes, classical economists said that economy, is self-regulating ond is olways capable’ of ‘utomatically achieving equilibrium at natural level of real GDP. However, Keynes in his “General Theory of oyment’ Interest ond Money (1936)" argued: ‘that markets would not utomaticaly lead to Full employment equilibrium Keyresians believe thot prced|and Wades are hot so flexible: they are sticky (gid), especialy downward. This prevents economy from returning’ to naturel level of reel GOP. So, output will remain at less than full employment level unless there i incufficient spending, Keynesian” theory of. presented in 3 models 1) Two-sector = household «business, 2) Three-sector = household + business + government, '3) Four-sector = household + business govt + foreign > income determination is ‘Giredlar Flow in-a Simple Two-sector Medel ‘The circular flow of Income is a process where the national income and expenditure of on economy flow in circular manner continously through time Two sector economy model assumes only two sectors in economy viz, househalds and firms, with only consumption and investment culays Households are azumed to- ‘own all factors of prediction ond they sell their actor services fo earn factor incomes D_Income is entirely spent to consume all final G/S preduced by business firms. Business Firms ore assumed to- {Ohire factors of production from the households: |B they produce and sell goods and services to the households and O They'do not save, There are ne corporations, corporate savings or retained earings. Since theres nogovt,Y = Yd. > Assumtions Gall prices (Including factor prices), supply of ‘apital end technolegy remain constant. La Thegovernment sector does not exist Tt is closed economy, no exports and imports. 1D All ivestment outlay i autonomous &net > Inthe figure- G cireslor broken lines - factor and product flows: “real flows: 2 Continous line with arrows show money flows ‘These flows ore in opposite directions and the valve of real flows equal the money flows becouse the factor payments are eqal te household incomes. Factor Payments Household Income = Household Expenditure = Vole of Output = Total Receipts of Firms > No injections into or leakages from system. Since whole of household income is spent on 6/5 produced by firms, household exp, = receipts of firms = value of output‘Consumption function Aver te Cons yoo Cae The ~earsumption function || The ratio of otal consumption to pron sme feet, describes the functional || total income is known as APC o | 0 | 0] - | -= |] teome not spent on consumption is saved SSevings function shows functional. relationship between netional incom and ving 5A), aPC = C7 ¥ Consumption is decreasing function of level of income, ‘Marginal Propensity to Consume ‘mec = "b") Increment to consumer expenditure per unit of increment Yo income relationship between consumption {pending and disposable income C=a+bYd 100 | 125 | -25 | 07s | 02s | 125 | 025 200 | 200 | 0 | 075 | 025 | 100 | 0 300 | 275 | 25 | 075 | 025 | oa | 008 “400 | 380 | 80 | 075 | 025 | 088 | oz cy ‘Marginal Propensity to Save ‘Average Propensity to Sove Mpc BC 7 B) Increment in saving per unit increase in ‘The rotio of total saving to Keyres_essmes that commotion | | Spotie meme, ‘ora ncone clea APS Infees with an urease mY but Wis 7S / AY 21 b eee shat ineense means comeeseinYs |) ac ws «Bo; WeSO«b <1 || Som snceasng ncn of so hb slo of ngs Ine ict of eae Tec tei tp of conampion ne _)) YeCs ‘Aggregate Supply (AS) ¢ YP DigaraTssee In the figure, the consumption and saving function are graphed. Saving function shows level of soving (5) at each level of disposoble income (U). Saving curve has negative intercept (-2) ‘on axis and its magnitude isthe some as the positive intercept (of the consumption carve tion at zero level of income is postive (equal Yo e), ond ‘0 such there shoud be dissaving cleo of the some magnitude, By definition, national income ¥ = C+ S, which shows thot alsposabe income is, by defintion, consumption plus saving, ‘Therefore, S = ¥~ C. When nationl income is equal to Y1, C=Y ‘and saving curve crosses X axis ‘Thus, when we represent the theory of the consumption income relationship, it also implicitly establishes ‘the saving-income relationship. Ex ante or planned aggregate supply is the total supply of goods and aervices which firms in o ‘ational economy plan on zelling during @ specific ‘ime peri. AS = Ago. Production = Factor Poyments Factor incomes [Netional Income? YI ‘Agaregate Demand (AD) ‘Aggregate demand (AD) is total planed ‘expenditure in the economy, Equilibrium output Equilbriom output occurs when desired amount of output demanded in economy exactly equals eietl peed iertierere‘Two Sector Mode! > Household Sector & Business Sector only oA +I (Tisassumed tobe constant) +8 Equilibrium is achieved when — AD=AS of Co re Saving tovetnet +3 or a a ¥ Three Sector Model > Household + Business + Government Sector >» AD=C+1+6 (£46 ere assumed to be constant) PASeC+S+T > Equilbrium is achieved whe AD=aS or CelsG2C*SeT or +62 5+ 70 ‘Government tector aide folowing flows fo Household + Business + Govt. + Foreign Sector > AD=C+I+6+(X-M) (1,6 4X are assumed tobe constant) > AS=C+5+T > Equilibrium is achieved when AD=AS of Col4G>KaM)=CoSeT or iG+XsS2T+M Foreign sector adds Following lows to circuler flow ‘of 3 sector model: 1) exports, 2) imports ond 3) net capital inflow which is the difference Tf > M) ie ve ‘then NE increases. If > M) is -ve ‘then NE decreases, Sze: a< Determination of Equilibrium theme in Two Sector Model Determination of Equilibrium Tneome "in Three Sector Model Determination oF Equllbrim Tazome in Four Sector ModelDefi Xf AD is for on amount of output less thon full employment level of utput, then we soy there is deficient demand. Leckoge & Injection Leakage: TF is referred to 08 on outflow of income from ‘the circular flow model. Leakages are thot part of the Income which is not used to purchase goods or what Fouseholdswrthdraws > In2 sector Model Leokages = Savings > In3 sector Model: Leokages = Savings + Toxes 5 tnd sector Model: Leakages = Savings + Taxes + Imports A njection- 1+ is an inflow of Income to the circuler flow. Due fe injection, the volume of income increases. > In2 sector Model Injection = Investment > In3 sector Model: Injection = Investment + Govt Exp Fn 4 sector Model : Injection = Investment + Govt Exp + Exports When AS = AD > Leakages = Injections ‘Then national income wil ben eqillium, When AS > AD > Leakages » Injections ‘Stock Surplss or Deficient Demond = it means that peeple fre spending lesser volume of money on consumption. Thus Inventories of goods wil ple up. Consequently, firms Would decrease their production in future which would lead Yo fell in output ard income in futur. (NE wil fll) When AS « AD > Leakages « Injections ‘Stock Shortage or Excess Demand = Excess demand mokes businesses to sell more than what ‘they currently produce. The unexpected soles would draw down inventories and result in less inventory investment ‘than business firms planned. They will react by hiring more workers and expanding production. This will increase the nation's aggregate income. (NI will rise) If there is ony devition from equilibrium, the process of ‘readjustment wil bring the economy back to equilibrium. Deficient demand gives rise to.0"4eflatinary gop or ‘recessionary. gop'or ‘contractlnary gop. Tt occurs then ecanomy fn contraction. Firms will experiene®) unplanned build-up of inventories of unsold goods and they will respond by cutting production and employment leading to decrease’ in output and income until the under= rium ig reached at E. Inflationary Gop TF AD is for on amount of output greater thon ful employment level of output, then we sty there is ‘excess demand, Excess demand gives rise 10 ‘inflationary gop’, Tt ‘occurs during expansion and sets in motion forces ‘hat will eause demand pull inflation ‘The real output will be constont, but the rise in the price level will couse on increase in the nominal utput until the new egulibrium is reached ot point E i i of i a Given intercept (a), steeper AD (high MPC) implies «higher level of equilibrium income. {Given MPC, higher level of autonomous spending implies higher equilibrium level of income ‘Thus, change in aggregate spending wil shift equilibrium & wil change level of NE increase in aggregate spending -> AD shift upward -> Equilibrium point shift upword > causing increase in NI Likewise, fall in oggregate spending couses fall in NE > The above concept tells us only direction of change in NI from change in AD. Tt does not ‘ell magnitude of change in NE Investment multiplier provides answer this problem.Tvestment Mattilier re ed ea oleae ele eters nde varten epee eel reek wet ek poets eed quorum lve of NE Tastnent Autti 00 eoplaie how many tines equim NE ae ae eee ate eer Lop Lo ge “ar © Tome MPS Wee sh eandereped cours ext irenealy weten| ef tlt ig tow. Die. te strctral adequcies, erease ih escent este femepted ey liereen al predeto ‘The more powerful leakages are - the smaller will be value of multiplier. The leakages are caused due to 1, progressive rates of taxation which result in mo oppreciable increase in consumption despte increase in income high liquidity preference and idle sovng or holding of cash balices 3 increased demand for goods met out of existing stocks or through imports 4. addition! income spent on purchasing existing wealth or purchase of government {securities and shores from shereholders or bond holders 5. undistributed profits of corporations 6: part of increment in income Used for payment of debts 7. cate of fll employment, aditiona Investment will only lead to inflation and 8 scarety of goods and services desprte having high MPC ‘Summa > 2 Sector Model -> of Multiplier 7(-b) > Sector Model Tf proportional tax (1) is not given -> If proportional tax (1) is given -> K = (Tox Maliplies) 1/0-8) 7 een > 4 Sector Model TF proportional tax (1) not given => K=1/ (1-6 +m) (Foreign Trade Multiplier) Tf proportional tax () is given -> K= 1 / 1~ (b(1-t)] + m Inport “Import has an altoromous component (M) and other part is assumed to ‘depend on income(Y) Thus, import functions Me + my ‘Marginal propensity to import -> m= AM/AY ... is assumed to be constant a H ibrium NEC”) & multi ‘Step 1: Find Disposable Income (Vd) in terms of Y= Y-T-t¥+ TR. 2 *\ ‘Step 2 ‘Input the above vlue of Yd in consumption function > C= a+ bYd Step 3: At equilibrium > AS=AD-> Thus, 2166+ 0c) ‘Step 4 + Input value of °C" in above equation & find Y. ‘Step 5 : Find value of multiplier as per data given in question and the summary on left side oma ese Re Ce MRC NSCS} “Follow Unacademy App- www.unacademy.com/@camohnis ee ea ee ae eee Me eee ere ayUnacademy Classes Paid Classes on Unacademy App by India's Top Educators is Plus. > 1:1 Live Mentorship. > PRINTED Reference Books > Chat-based doubt ‘solving with subject ‘matter experts Live tests & quizzes Unlimited access to all course and educators of respective courseSiete) 3 e e = ae _ wos — == — = & MSR x a MVSIR xWea Use code “MVSIR” to get 10 % discount on CA Foundation and CA Inter “ Subscriptions Ny (OV)