It can be stated that Neutral can be grounded, but Ground is not neutral.
A Neutral represents a reference point within an electrical distribution system. Conductors connected to this reference point (Neutral) should, normally, be non current carrying conductors, sized to handle momentary faults (short circuits) occurring in electrical equipment. However, with the introduction of non linear loads, such as computers, electronic lighting, TVs, VCRs and other switchmode power conversion equipment, the requirements for the neutral conductor has changed (increased).
Ground or earth in a mains (AC power) electrical wiring system is a conductor that provides a low-impedance path to the earth to prevent hazardous voltages from appearing on equipment. (The terms "ground" and "earth" are used synonymously here. "Ground" is more common in North American English, and "earth" is more common in British English.) Under normal conditions, a grounding conductor does not carry current.
Neutral is a circuit conductor that normally carries current back to the source, and is connected to ground (earth) at the main electrical panel.
In the electrical trade, the conductor of a 2-wire circuit connected to the supply neutral point and earth ground is referred to as the "neutral".