GDP growth

02.02.18 Meghalaya(MeghalayaPSC) Current Affairs

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NORTH-EASTERN STATES

  • Budget brings hope to bamboo-rich northeast

 

  • Bamboo is essentially a type of grass, but its classification as a tree for 90 years prevented the northeast, which grows 67% of India’s bamboo, from exploiting it commercially unlike China, the only country with richer bamboo genetic resources.

 

  • Now Budget 2018 has ignited farm hope for this tree-turned-grass which once fuelled insurgency in the northeastern states. The allocation of ₹1,290 crore for a restructured National Bamboo Mission (NBM) has raised hopes for a range of bamboo-based industries – from food professing to construction.

 

  • Bamboo is a wonder, multi-utility grass that more than 300 ethnic groups in the northeast have traditionally been using in every stages of life, from birth to death, besides it being a delicacy. Bamboo’s commercial journey began when it was struck off the list of trees by amending the Indian Forest Act last year.

 

  • The Budget provision is one of the best initiatives to promote holistic development of bamboo. But the restructured NBM needs to be more focussed on value-chain management and value-addition of bamboo at community level which will bring more income to the bamboo farmers and bamboo processors.

 

 

INTERNATIONAL

 

·        India Slips to 42nd Place On EIU Democracy Index, Norway Tops

 

  • India slipped to 42nd place on an annual Global Democracy Index according to the data compiled by the Economist Intelligence Unit (EIU). India has moved down from 32nd place last year.
  • The top 5 Countries in the list are

    Norway,

    Iceland,

    Sweden,

    New Zealand and

    Denmark

 

  • The index ranks 165 independent states and two territories on the basis of five categories: electoral process and pluralism, civil liberties, the functioning of government, political participation and political culture.

 

  • The list has been divided into four broad categories- full democracy, flawed democracy, the hybrid regime and authoritarian regime.

 

  • North Korea is ranked the lowest at 167th, while Syria is a notch better at 166th place.

 

 

·        India Joins Ashgabat agreement

 

  • India joined Ashgabat Agreement on the establishment of an International Transport and Transit Corridor between the Iran, Oman, Turkmenistan, and Uzbekistan.
  • The agreement was signed in 2011, which envisages facilitation of transit and transportation of goods between Central Asia and the Persian Gulf.
  • According to the External Affairs Ministry, the accession to the Agreement would diversify India’s connectivity options with Central Asia and have a positive influence on its trade and commercial ties with the region.

 

NATIONAL

 

  • Union Budget 2018: Key takeaways and sector-wise highlights

 

  • Finance Minister Arun Jaitley delivered the current government’s fifth and last full financial budget (Budget 2018 for the fiscal year 2018-19) amid subdued economic growth, challenging fiscal situation and farm distress.

 

Here are the key highlights from the Union Budget 2018:

Economic Health

  • Economy firmly on course to achieve high growth of 8%
  • GDP growth at 6.3% in the second quarter of 2017-18 signals turnaround of the economy
  • Growth in the second half likely to remain between 7.2% to 7.5%

Agriculture and Rural Economy

  • MSP for all unannounced Kharif crops increased to 150%
  • Institutional credit for agri-sector increased to Rs.10 lakh crore in 2017-18
  • Fisheries, aquaculture and animal husbandry corpus at Rs.10,000 crore
  • New scheme Operation Greens with an outlay of Rs 500 Crore
  • Govt to develop and upgrade existing 22,000 rural haats
  • Agri-Market Infrastructure Fund with a corpus of Rs.2000 crore
  • Allocation for Ministry of Food Processing doubled to Rs.1400 crore
  • Loans to Self Help Groups (SHG) of women to increase to Rs.75,000 crore by March 2019.
  • Increased allocation of National Rural Livelihood Mission to Rs 5750 crore
  • Under Ujjwala Scheme distribution of free LPG connections will be given to 8 crore poor women
  • Housing for All by 2022 – more than one crore houses to be built by 2019 in rural areas

Education, Health, and Social Protection

  • Estimated budgetary expenditure on health, education and social protection at Rs.1.38 lakh crore
  • Ekalavya Model Residential School to be set up for tribal children
  • Investments for research & infra in premier educational institutions at Rs.1 lakh crore in next 4 years
  • Allocation on National Social Assistance Programme at Rs. 9975 crore
  • NHPS to cover over 10 crore poor and vulnerable families (approximately 50 crore beneficiaries)
  • NHPS to provide coverage up to 5 lakh rupees per family per year for hospitalisation
  • Rs 1200 crore for the National Health Policy, 2017 – additional Rs.600 crore for TB patients
  • 24 new Government Medical Colleges and Hospitals

Medium, Small and Micro Enterprises (MSMEs) and Employment

  • Major thrust for Medium, Small and Micro Enterprises (MSMEs) – allocation at Rs. 3794 crore
  • Target of Rs.3 lakh crore for lending under MUDRA Yojana
  • 70 lakh formal jobs to be created this year
  • Govt to make 12% contribution of new employees in the EPF for all the sectors for 3 years
  • Outlay of Rs.7148 crore for the textile sector
  • Increase budgetary allocation on infrastructure for at Rs.5.97 lakh crore
  • To develop 10 prominent tourist sites into Iconic Tourism destinations
  • 35000 kms road construction in Phase-I at an estimated cost of Rs.5,35,000 crore

Railways

  • Railways Capital Expenditure pegged at Rs.1,48,528 crore
  • 4000 kilometers of electrified railway network slated for commissioning
  • Work on Eastern and Western, dedicated freight corridors
  • Over 3600 km of track renewal targeted in current fiscal
  • Redevelopment of 600 major railway stations
  • Mumbai’s local train network to have 90 kilometers of double line tracks at Rs.11,000 crore cost
  • 150 km of additional suburban network planned for Mumbai
  • Suburban network of 160 km at for Bengaluru metropolis

Air Transport

  • To expand airport capacity more than five times to handle a billion trips a year
  • Regional connectivity – 56 unserved airports and 31 unserved helipads to be connected
  • To establish unified authority for regulating all financial services

Digital Economy

  • NITI Aayog to initiate a national program to direct efforts in artificial intelligence
  • Department of Science & Technology to launch Mission on Cyber-Physical Systems
  • Allocation doubled on Digital India programme to Rs 3073 crore
  • To set up 5 lakh wifi hotspots to provide net-connectivity to five crore rural citizens
  • Rs. 10000 crore for creation and augmentation of telecom infrastructure

Defence

  • Development of two defence industrial production corridors.
  • Allocation of Rs 2.95 lakh crore to defence sector.

Emoluments

  • To revise emoluments to Rs.5 lakh for the President
  • Rs 4 lakhs for the Vice President
  • Rs.3.5 lakh per month to Governor
  • Pay for Members of Parliament – law for automatic revision of emoluments every 5 years
  • 150th Birth Anniversary of Mahatma Gandhi- Rs.150 crore for commemoration programme

Fiscal Management

  • Budget Revised Estimates for Expenditure at Rs.21.57 lakh crore
  • Revised Fiscal Deficit estimates at 3.5% of GDP
  • To bring down Central Government’s Debt to GDP ratio to 40%

Jaitley announces ‘world’s largest healthcare programme’

Finance Minister Arun Jaitley announced two new initiatives under the Ayushman Bharat Programme in the Union Budget 2018.

  • Under the programme, Mr. Jaitley announced a new flagship National Health Protection Scheme, providing a health insurance cover of ₹5 lakh a family per annum.
  • The scheme will cover 10 crore vulnerable families, with approximately 50 crore beneficiaries.
  • Mr. Jaitley also announced the creation of health and wellness centres, which will “bring healthcare closer to home”.
  • These centres, 1.5 lakh in number, will provide free essential drugs and diagnostic services. A sum of Rs. 1200 crore had been allocated for this.

·         Thirty Second Surajkund International Crafts Mela Begins

  • The 32nd Surajkund International CraftsMela begun in Faridabad, Haryana.

    The Mela is organized by the Surajkund Mela Authority and Haryana Tourism in collaboration with Union Ministries of Tourism, Textiles, Culture and External Affairs.

    The 17-day cultural extravaganza will see a spectacular showcase of regional and international crafts, handlooms, traditions along with some mouth-watering multi-cuisine food for the visitors.

    This year Uttar Pradesh is the theme state and Kyrgyzstan is the Partner Nation.

30.01.18 Meghalaya(MeghalayaPSC) Current Affairs

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NORTH-EASTERN STATES

  • Territorial integrity of North eastern states won’t be compromised: Rajnath

 

  • Territorial integrity of Assam and other northeastern states will not be compromised when the final Naga peace accord is inked, home minister Rajnath Singh assured Assam chief minister Sarbananda Sonowal.

 

  • The insurgent group NSCN-IM’s key demand is to integrate the Naga-inhabited areas of Arunachal Pradesh, Assam and Manipur, which has been strongly opposed by the three states, currently ruled by the BJP.

 

  • The NSCN-IM has been engaged with peace talks with the interlocutor of the central government since 1997 when it announced a ceasefire agreement after a bloody insurgency movement which started in Nagaland soon after the country’s Independence. 

     

    INTERNATIONAL

     

    • ‘Aadhaar’ is Oxford’s first Hindi word of the year

     

    • Dictionaries at the Jaipur Literature Festival.

     

    • ‘Aadhaar’ also becomes the first Oxford Dictionaries Hindi Word of the Year.

     

    • The accompanying shortlisted words include Notebandi, Swachh, Vikaas, Yoga and Bahubali.

     

    ·        India Cheapest Country To Live In After South Africa: Survey

     

    • India is ranked second only to South Africa as the cheapest country to live or retire, according to a recent survey of 112 countries by GoBankingRates.
    • The survey ranked nations on the bases of four key affordability metrics. The metrics are Local purchasing power index, rent index, Groceries index, and Consumer price index.
    • India’s local purchasing power is 20.9% lower, rent is 95.2% cheaper, groceries are 74.4% cheaper, local goods and services are 74.9% cheaper.
    • The top three most expensive countries in the survey are Bermuda (ranked 112), Bahamas (111), and Hong Kong (110).

     

     

    NATIONAL

     

    ·        Economic Survey 2018:  Brief Summary

     

    • The Economic Survey, an annual publication of the Finance Ministry, is presented in both houses of Parliament during the Budget Session. It is a review of the developments in the country’s economy over the previous one year.
    • Sticking to the practice started last year, finance minister Arun Jaitley will present Union Budget 2018 on 1 February.
    • It presents a summary of the performance of the government’s major development programmes undertaken during that period.
    • It also details the main policy initiatives of the government.

     

    • The  Survey sees FY19 GDPgrowing 7-7.5% vs 75% in FY18.

     

    • The Due to higher expected increase in imports, net exports of goods and services are slated to decline in 2017-18.

     

    • The Exports biggest source of the boost to growth.

     

    • It points out that the GDP growth has averaged 7.3% for the period from 2014-15 to 2017-18, which is the highest among the major economies of the world.

     

    • Demonetisation helped share of financial saving to rise.

     

    • The ratio of domestic saving to GDP reached 29.2 percent in 2013 to a peak of 38.3 percent in 2007, before falling back to 29 percent in 2016.

     

    • The Sanitation coverage in rural India increased substantially from 39 percent in 2014 to 76 percent in January 2018. With the launch of Swachh Bharat Mission (Gramin) on October 2, 2014, the sanitation coverage in rural India increased substantially.

     

    • So far, 296 districts and 307,349 villages all over India have been declared Open Defecation Free (ODF).

     

    • India is gradually improving its performance in Science and Technology. In 2013, India ranked 6th in the world in scientific publications. Its ranking has been increasing consistently. The growth of annual publications between 2009 to 2014 was almost 14%. This increased India’s share in global publications from 3.1% in 2009 to 4.4% in 2014 as per the Scopus Database.

     

    • The foreign exchange reserves grew by 14.1% on a year-on-year basis from the end of Dec 2016 to end of Dec 2017.

     

    • The forex reserves as per 2016-17 were estimated at USD 370 billion. It grew to USD 409.4 billion in 2017-18.

     

     

     

    ·        VINBAX: India and Vietnam hold first military exercise in Jabalpur

     

    • The India-Vietnam Bilateral Army Exercise (VINBAX-2018)was conducted at Jabalpur in Madhya Pradesh.
    • It is the first military exercise between the two countries.
    • The six-day-long military exercise (from January 29 to February 3, 2018) was conducted as part of joint training undertaken with friendly foreign countries by Indian Army.
    • VINBAX-2018 was Table Top Exercise to carry out training for Peace Keeping Operations under United Nations (UN) mandate.
    • The Defence ties between India and Vietnam have been on an upswing with the primary focus being cooperation in the maritime domain.

    ·        International Bird Festival To Be Held In Dudhwa National Park

     

    • A three-day international bird festivalwill be held at the Dudhwa National Park, Lakhimpur Kheri, Uttar Pradesh in February 2018 with nearly 200 leading ornithologists expected to attend.
    • The purpose of the international bird festival is to promote eco-tourism in Dudhwa and to give it a distinct international identity besides highlighting its traditional Tharu arts, culture, and heritage.

     

    ·        Asias biggest auto testing track inaugurated in Madhya Pradesh

     

    • Union Minister Babul Supriyo and Madhya Pradesh Industrial minister Rajendra Shukla inaugurated Asia’s biggest auto testing track in Pithampur of Dhar district, Madhya Pradesh.
    • The country’s research and development activities in the sector of automobile engineering and technology will get a boost, due to the construction of the auto testing track in Pithampur.
    • Pithampur will emerge as a hub of the automobile industry in future.
    • Union Minister further mentioned that the state government has provided 4 thousand acre land to NATRiP and the National Auto Testing Track has been developed on 3 thousand acre land.
    • Automobile units can be established by the industrialists on the remaining one thousand acre land.

     

    ·        Sandeep Lamichhane Becomes 1st Nepal Player To Get IPL Contract

     

    • Sandeep Lamichhane became the first cricketer from Nepal to land a deal an IPL contract.
    • He was picked by Delhi Daredevils in the player’s auction.
    • The 17-year-old, the only Nepal player in the IPL auction, was sold at his base price of Rs 20 lakh.
    • The leg-spinner rose to prominence with a successful outing at the 2016 U-19 World Cup where he guided Nepal to a creditable eighth place.
    • He hogged the limelight by becoming the second-highest wicket-taker in the tournament with 14 scalps in six innings.

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