A thorough knowledge of various business and economy related terms is essential for all MBA aspirants. Following is the list of important and useful business terms for MBA entrance exams like CAT, XAT, SNAP,  BITSAT, and NMIMS.

ASSOCHAM – Associated Chamber of Commerce and Industries

BPL – Below Poverty Line

BSE – Bombay Stock Exchange

CRR – Cash reserve ratio

ED – Excise Duty

FDI – Foreign Direct Investment

FICCI – Federation of Indian Chamber of Commerce & Industries

FTZ – Free Trade Zone

GDP – Gross Domestic Product

INR – Indian Rupee “Rs.�?

IT – Income Tax

ITR – Income Tax Return

NIFTY – Benchmark index of National Stock Exchange “NSE�?

NSE – National Stock Exchange

SAARC – South Asian Association for Regional Co-operation

SAFTA -South Asia Free Trade Agreement

Sensex – Benchmark Index of Bombay Stock Exchange

SEZ – Special Economic Zone

SGDP- Sustainable Gross Domestic Product

SSI – Small Scale Industry

STPI – Software Technology Parks of India

VAT – Value Added Tax

Click here for the list of important vocabulary for CAT and other MBA entrance exams