National Gross Domestic Product:
▪ Suman Bery stated that there is a large gap between high-income and low-income states in the
country’s Gross Domestic Product (GDP).
✓ High-income states representing 26 percent of the country’s population contribute 44 percent to the nation’s GDP. At the same time, low-income states representing 38 percent of the population contribute only 19 percent.
▪ Compared to 2017-18, total employment increased by 15 crore in 2022-23. This includes 8 crore agricultural women workers and 4 crore unpaid family workers, stated Suman Bery.
▪ Gross Domestic Product: The total monetary value of all goods and services produced within a country’s borders during a specific period (generally 1 year).
▪ Types:
✓ Nominal GDP – At market prices.
✓ Real GDP – Adjusted for inflation.
✓ Per capita GDP – Average per person
▪ In India, the National Statistical Office (NSO) calculates GDP.
Asian Development Bank
▪ The Asian Development Bank (ADB) was established in 1966.
▪ Its headquarters is in Manila, Philippines.
▪ Objective: Economic development and social progress in Asian regions.
▪ Member countries: 68 countries (48 Asian and 20 other countries).
Benefits received by Tamil Nadu:
▪ Tamil Nadu Urban Development: Water supply, sewerage, drainage systems.
▪ Road Development: Industrial areas and state highways.
▪ Solar Power Projects: Open access solar power plants.
▪ Social Welfare Schemes: Housing for the poor, social development
