- Normal Resident:
A normal resident of India is defined as someone who resides in India for at least 182 days during the last financial year.
- Option (D): An Indian citizen working abroad for more than 1 year is not considered a normal resident of India, as they are considered a non-resident for tax and other economic purposes.
Conclusion: Option (D) is the correct answer as it represents someone working abroad for an extended period, thus not a "normal resident" of India.
Read the following statements carefully:
Statement 1: Expost savings and Expost investments are equal at all levels of income.
Statement 2: Under the effective demand principle, the equilibrium output is equal to exante Aggregate Demand (AD). In the light of the given statements, choose the correct alternative from the following:
The measurement of Balance of Payments deficit is based on ……. transactions.
If in an economy the initial deposits are Rs.4,000 crore and Reserve Ratio (RR) is 10 percent. The value of total deposit created would be Rs. ______ crore.