If 'For example, NIPA excludes capital transfers, like estate tax receipts, which are recorded as revenue in the unified budget, and investment grants-in-aid to state and local governments, which the unified budget records as outlays.' is true, does it logically mean that 'NIPA excludes capital transfers.' also is?
For example, NIPA excludes capital transfers, like estate tax receipts, which are recorded as revenue in the unified budget, and investment grants-in-aid to state and local governments, which the unified budget records as outlays.###NIPA excludes capital transfers.