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Gross Domestic Product ( GDP ) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. · "Gross" (in " Gross Domestic Product") indicates that products are counted regardless of their subsequent use. A product can be used for consumption, for investment, or to replace an asset. In all cases, the product's final "sales receipt" will be added to the total GDP figure. · In contrast, "Net” in the Net Domestic Product (NDP) takes into account the depreciation of the asset used. NDP = GDP – Depreciation During production process fixed capital assets like machines, building etc. get depreciated and their value goes down. This is known as normal wear and tear of machinery or consumption of fixed capital or depreciation.
By which fiscal year is India projected to become the third-largest economy?
What is the name of the train initiated by IRCTC to boost tourism after the historic inauguration of the Ram Mandir in Ayodhya?
Subansiri Lower Hydro Electric Project (SLHEP) is located on the border of which two states?
Who is the newly appointed Chairman of Max Life Insurance?
Which state government has recently launched DRIMS platform in collaboration with UNICEF to facilitate efficient disaster reporting and aid delivery?
In February 2024, who was named the recipient of the People's Choice Award for Wildlife Photographer of the Year?
The book ‘Experiments with Truth’ is based on whose life?
Bhed Mata Mela is associated with which animal?