GS paper 3

Gross National Product, Definition, Nominal GNP and Real GNP

Gross National Product (GNP) Introducing the Gross National Product (GNP), an essential economic indicator that captures the total value of a nation's economic output. It offers valuable insights into a country's economic performance, reflecting the combined efforts of its residents,...

External Debt of India, Meaning, Impact, Significance

External Debt of India India's External Debt has become a critical subject of analysis and concern in recent years, as the country's economic landscape continues to evolve. As one of the world's fastest-growing major economies, India has experienced significant changes...

Concept of GDP, GNP, NNP and NDP, Basic Economy Terms

Concept of GDP, GNP, NNP and NDP  In the realm of economics, comprehensive measurements are crucial for assessing the health and performance of a nation's economy. Key among these indicators is GDP, GNP, NNP, and NDP, which provide insights into...

NRI Deposits, Difference Between NRE, NRO and FCNR Account

NRI Deposits NRI deposits have become a prominent aspect of India's financial landscape, serving as a key component of the country's economic growth and stability. These deposits, contributed by Non-Resident Indians, hold immense significance in bolstering India's Foreign Exchange Reserves...

Foreign Direct Investment (FDI), Types, Advantages, Disadvantages

Foreign Direct Investment Foreign Direct Investment (FDI) plays a pivotal role in shaping the global economy, driving economic growth, and fostering international business relationships. With the increasing interconnectedness of economies, countries around the world are actively seeking FDI as a...

FERA and FEMA, Objectives, Difference, Salient Features

FERA and FEMA In the ever-expanding realm of international trade and global economic integration, the management of foreign exchange plays a crucial role in maintaining a nation's financial stability and facilitating cross-border transactions. In the Indian context, the evolution of...

Capital Account Convertibility (CAC), Benefits, Examples

Capital Account Convertibility In today's interconnected global economy, the flow of capital across borders plays a crucial role in shaping financial landscapes and influencing economic growth. One key concept at the heart of this phenomenon is capital account convertibility. Capital...

NEER & REER Concept, Definition, Differences, Examples

NEER & REER The concepts of NEER (Nominal Effective Exchange Rate) and REER (Real Effective Exchange Rate) are fundamental tools used in analyzing a country's exchange rate dynamics. These indicators assist policymakers and economists in understanding a country's exchange rate...

Foreign Capital, Meaning, Types, Role in Economic Development

Foreign Capital Foreign capital holds significant importance for the economic development of countries, and governments worldwide actively seek to attract it. It refers to the influx of capital from international sources into the domestic economy, and its contribution is recognized...

National Development Council, Objectives, Members, Functions

National Development Council The National Development Council (NDC), also known as the Rashtriya Vikas Parishad, is the highest authority responsible for making decisions and engaging in discussions regarding development issues in India, with the Prime Minister as its presiding member....