What does NSDP mean? What is the full form of NSDP?
The Full Form of NSDP is Net State Domestic Product.
State Domestic Product, or SDP, is the total value of goods and services produced during any financial year within the geographical boundaries of a state. Also called the state income, SDP is always calculated or estimated in monetary terms, and is instrumental in the evaluation of per capita income. State here refers to a country subdivision, as in the states of the United States and the states of India. While GDP gives a good estimate of the entire nation’s output, SDP provides more detailed economic details about subnational territories.
KEY TAKEAWAYS
- The net domestic product (NDP) is an annual measure of the economic output of a nation that is adjusted to account for depreciation and is calculated by subtracting depreciation from the gross domestic product (GDP).
- Net domestic product, along with GDP, gross national income (GNI), disposable income, and personal income, is one of the key gauges of economic growth that is reported on a quarterly basis by the bureau of economic analysis (BEA).
- An increase in NDP would indicate growing economic stagnation, while a decrease would indicate ongoing economic health.
Net domestic product (NDP) accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. The depreciation accounted for is often referred to as capital consumption allowance and represents the amount needed to replace those depreciated assets.
NDP = GDP – Depreciation
NSDP
means
Net State Domestic Product
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