Start learning 50% faster. Sign in now
● Statement 1 incorrect: Net Domestic Product (NDP) is the GDP calculated after adjusting the weight of the value of ‘depreciation’. This is, basically, the net form of the GDP, i.e., GDP minus the total value of the ‘wear and tear’ (depreciation) that happened in the assets while the goods and services were being produced. o Thus, NDP = GDP - Depreciation. Statement 2 incorrect: The NDP of an economy has to be always lower than its GDP for the same year, since there is no way to cut the depreciation to zero. But mankind has achieved too much in this area through developments, such as ‘ballbearing’, ‘lubricants’, etc., all innovated to minimise the levels of depreciation. ● Statement 3 correct: NDP has following usage: For domestic use: to understand the historical situation of the loss due to depreciation to the economy. To understand and analyse the sectoral situation of depreciation in industry and trade in comparative periods. To show the achievements of the economy in the area of research and development, which have tried cutting the levels of depreciation in a historical time period. NDP is not used for the comparative economies since the rate of depreciation is different for different countries. In India NDP is announced by the Ministry of Commerce and Industry.
What is the objective of the National Genome Strategy presented in the UAE?
Consider the following statements about the Trade Facilitation Agreement (TFA):
I. India has ratified the Trade Facilitation Agreement (TFA) of W...
What geospatial platform was presented by India during the World Bank Land Conference 2025?
Which of the following is the primary function of the 'e-Sakshya' app launched by Union Home Minister Amit Shah?
Who has written India’s first season style book “The Class of 2006”?
The folk dance ‘Kajri’ is associated with which state of India?
Gustavo Petro has recently became the President of which country?
What was the primary objective of the Digital India Act (DIA) introduced in September 2024?
Fengyun-3G (FY-3G), was sent into space allowing scientists to monitor the Earth's precipitation from space & is one of only three such satellites in th...
Which platform was allowed to extend UPI services to its entire user base in India by NPCI?