GDP or Gross Domestic Product

GDP or Gross Domestic Product GDP or Gross domestic product refers to total market value of all the final goods and services produced in an economy in a given period of time. For India, this time period is from 1st April to 31st March. This means it measures the value of final goods and services produced within a geographic boundary regardless of the nationality of the individual or firm. For instance, cars manufactured in India by Japanese company will be included in Indian GDP. Similarly, the Jaguar cars manufactured in UK by Tata will not be counted in India’s GDP. It refers to only final output of such goods and services. The rule that only finished or final goods must be counted is necessary to avoid double or triple counting of raw materials, intermediate products, and final products. For example, the value of automobiles already includes the value of the steel, glass, rubber, and other components that have been used to make them. To be precise, we define the following: a) Final Output: Goods and Services purchased for final use. b) Intermediate Goods/Factors of Production/Raw Materials: Products used as input in the production of some other product. There are two ways to take into account double counting: i. Calculate only the value of the final product. ii. Calculate the value added at each stage of production, from the beginning of the process to the end. Specifically, it is derived by subtracting the value of the intermediate good from the value of the sale.

Comments

History of Ladakh

History of Ladakh History of India The standoff at Galwan river raised the question of the significance of Ladakh to India and China. History 1. Ladakh was initially part of Tibetan empire but later broke off in 742 CE after the assassination of King Langdarma. 2. Until the Dogra invasion in 1834, Ladakh was an independent Himalayan state similar to Sikkim and Bhutan. 3. It was integrated into the state of Jammu and Kashmir by the Dogra ruler Gulab Singh. 4. In 1841, Tibet under the Qing dynasty of China tried to invade Ladakh but was defeated by the Sikhs. This led to the Treaty of Chushul by which Tibet agreed to not invade again. 5. After the Anglo-Sikh war in 1845-46, Ladakh was brought under British suzerainty. Significance of Ladakh 1. Ladakh served as an entrepot between Central Asia and Kashmir. Tibetan pashmina shawl was traded through Ladakh to Kashmir. 2. Trade flourished from Karakoram pass to Yarkand and Kashgar to Chinese Turkestan. China’s inte...

Apple is testing a ChatGPT-like AI chatbot

According to a recent report by Bloomberg's Mark Gurman, Apple is making significant strides in the development of artificial intelligence tools to rival the likes of OpenAI and Google. Internally referred to as "Apple GPT," the tech giant has created a chatbot using its proprietary framework called "Ajax." This framework, built on Google Cloud with Google JAX, enables the creation of large language models similar to ChatGPT and Google's Bard. While Apple is yet to finalize its strategy for consumer release, it is reportedly planning a major AI-related announcement next year. The chatbot's internal rollout faced delays due to security concerns related to generative AI. However, it has been made available to a growing number of Apple employees with special approval, primarily for product prototyping purposes. Apple's chatbot can summarize text and answer questions based on its training data. Although it shares similarities with commercially availabl...

Most Important Topics. International , Science , UPSC, BPSC..

International Relations Prev First in-Person Meeting of Quad Countries Star marking (1-5) indicates the importance of topic for CSE Tags: GS Paper - 2 Groupings & Agreements Involving India and/or Affecting India's Interests Why in News Recently, the first in-person meeting of Quad leaders was hosted by the US. Issues like climate change, Covid-19 pandemic and challenges in the Indo Pacific, amidst China's growing military presence in the strategic region, were discussed in the meeting. Key Points Background: In November 2017, India, Japan, the US and Australia gave shape to the long-pending proposal of setting up the Quad to develop a new strategy to keep the critical sea routes in the Indo-Pacific free of any influence. China claims nearly all of the disputed South China Sea , though Taiwan, the Philippines, Brunei, Malaysia and Vietnam all claim parts of it. The South China Sea is an arm of the Western ...

The discovery of Gravitational Waves.

वैज्ञानिकों ने अंतरिक्ष में गुरूत्वीय तरंगों की ऐतिहासिक की: वैज्ञानिकों ने 11 फरवरी 2016 को घोषणा की कि उन्होंने अंतत: उन गुरूत्वीय तरंगों की खोज कर ली है, जिसकी भविष्यवाणी महान वैज्ञानिक आइंस्टीन ने एक सदी पहले कर दी थी। ब्रह्मांड में जोरदार टक्करों के कारण पैदा होने वाली इन तरंगों की खोज खगोलविदों को इसलिए उत्साहित कर रही है क्योंकि इससे ब्रह्मांड का अवलोकन उसकी क्रमबद्धता में करने का एक नया रास्ता खुल गया है। इस नयी खोज में खगोलविदों ने अत्याधुनिक एवं बेहद संवेदनशील लेजर इंटरफेरोमीटर ग्रेविटेशनल वेव ऑबजर्वेटरी (लीगो) का इस्तेमाल किया, जिसकी लागत 1.1 अरब डॉलर है। लीगो की मदद से उन्होंने दूर दो ब्लैक होल के बीच हुई हालिया टक्कर में पैदा हुई गुरूत्वीय तरंग का पता लगाया। गुरूत्वीय तरंगों की सबसे पहली व्याख्या आंइस्टीन ने वर्ष 1916 में अपने सापेक्षिता के सामान्य सिद्धांत के तहत की थी। ये चौथी विमा दिक्-काल में असाधारण रूप से कमजोर तरंगें हैं। जब बड़े लेकिन सघन पिंड, जैसे ब्लैक होल या न्यूट्रॉन स्टार आपस में टकराते हैं तो उनके गुरूत्...

■ Can India Become A Technology Leader? India

■ Can India Become A Technology Leader? ✅India is presently not a major player in the field of technology due to certain challenges and on the other side, there are many celebrated Indian technologists around the world as many of the technology giants choose an India- born techie as their leader. ✅The conversation around Indian executives at the helm of top tech companies has gathered some momentum with Parag Agrawal taking over as Twitter CEO. The major technology companies like Google and its parent company Alphabet, Microsoft and Twitter, Adobe and IBM are all headed by Indians. ● The Case of the U.S: ✅The Indian immigrants in the U.S are the part of the most educated and professionally accomplished communities in that country. ✅As of 2019, there were 2.7 million Indian immigrants in the U.S. ✅The government of the U.S has been instrumental in the triumphs of enterprise and the free market. ✅The governmental agencies have been actively supporting the research and develo...

World News -Foreign Diplomacy-TechNews-Artificial_Intelligence-BurningIssues

Search This Blog