Important Economy terms for TNPSC | Prepare with Oliveboard

Tamil Nadu Public Service Commission (TNPSC) has released the notification of TNPSC Group 2 Exam 2022 on 23rd February 2022. The last date to apply for the exam is 23rd March 2022. The preliminary exam is scheduled to be conducted on 21st May 2022. TNUSRB SI Notification is expected on 8 March 2022. Annual Planner released by TNPSC gives you an approximate timeline of when to expect the notifications of various exams. Static GK is an important segment in various TNPSC exams. Questions from the Economy are commonly asked. To help you in your preparation, we have come up with an ebook on ‘Economy terms for TNPSC’.

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1. GDP: Gross Domestic Product (GDP). The final value of the goods and services produced within the geographic boundaries of a country during a specified period, normally a year.

2. GNP: Gross National Product (GNP). The total money value of all final goods and services produced by the residents of a country in one year period

3. NDP: Net Domestic Product: NDP = GDP – Depreciation

4. NNP: Net National Product: NNP = GNP – Depreciation

5. Depreciation: A decrease in the value of an asset over time due to wear and tear

6. Monetary Policy: Process by which the central bank in a country (RBI in India) controls the supply of money

7. REPO rate: Re-Purchase Option (REPO). Rate at which the RBI gives loans to other banks

8. Reverse REPO rate: Rate at which the RBI borrows from other banks. It is lower than the REPO rate.

9. CRR: Cash Reserve Ratio (CRR). The amount of funds that the banks must keep with RBI

10. SLR: Statutory Liquidity Ratio (SLR). The amount a commercial bank needs to maintain in the form of cash, gold, or govt. approved securities (Bonds) before providing credit to its customer

11. MSF: Marginal Standing Facility (MSF). The window for banks to borrow from the Reserve Bank of India in an emergency situation when inter-bank liquidity dries up completely.

12. Bank Rate : The rate of interest which a central bank charges on the loans and advances that it extends to commercial banks and other financial intermediaries

13. CRAR: Capital to Risk Weighted Assets Ratio (CRAR). It indicates the ratio of a bank’s capital to its risk

14. Fiscal Policy :  Use of government spending and tax policies to influence economic conditions, especially macroeconomic conditions, including aggregate demand for goods and services, employment, inflation, and economic growth

15. Fiscal Deficit: Means by which the government adjusts its spending levels and tax rates to monitor and influence the nation’s economy

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