The net domestic product (NDP) equals the gross domestic product (GDP) minus depreciation on a country's capital goods. Net domestic item accounts for capital that has been consumed over the yr in the form of enclosure, vehicle, or perhaps machinery damage. The devaluation accounted for is often referred to as " capital intake allowance" and represents the amount of capital that would be required to replace individuals depreciated property. If the nation is not able to replace the capital inventory lost through depreciation, then GDP is going to fall. In addition , a growing difference between GROSS DOMESTIC PRODUCT and NDP indicates elevating obsolescence of capital merchandise, while a narrowing difference means that the condition of capital stock in the country is enhancing. Gross home product (GDP) is usually the market value of all officially recognized last goods and services created within a nation in a provided period of time. GDP per capita is typically considered an indicator of your country's standard of living; GDP per household is not really a measure of personal income (See Standard of living and GDP). Under economic theory, GROSS DOMESTIC PRODUCT per capita exactly equals the gross domestic profits (GDI) per capita (See Gross domestic income). GDP can be related to national accounts, a topic in macroeconomics. GDP is not to be puzzled with gross countrywide product (GNP) which usually allocates development based on ownership. The University Scholarships Commission (UGC) of India is a lawful organisation create by Union government in 1956, to get the coordination, determination and maintenance of criteria of college or university education. It offers recognition pertaining to universities in India, and supplies funds to get government-recognised universities and colleges. Prof. Ved Prakash, a mentioned academician and education officer, is the Chairman of UGC, India. It is headquarters happen to be in New Delhi, and half a dozen regional centres in Pune, Bhopal, Kolkata, Hyderabad, Guwahati and Bangalore.