June 7, 2018

WORD OF THE DAY

OUTPUT GAP

An indicator of the difference between the actual output of an economy and its maximum potential output as a percentage of GDP. Potential output is defined as the highest level of real GDP that can be sustained over the long term with the unemployment rate equal to the natural rate of unemployment.

Courtesy: Mint

 

NATIONAL NEWS

  1. The Election Commission has launched it’s online RTI Portal.
    • The portal- eci.nic.in will facilitate applicants seeking information under the Right to Information Act.
    • The portal also facilitates the online reply to applications and also for making first appeal and reply thereto.
  1. India has registered a significant decline in Maternal Mortality Ratio (MMR) recording a 22-percent reduction in such deaths since 2013.
    • According to the Sample Registration System bulletin, the MMR has declined from 167 in 2011-2013 to 130 in 2014-2016.
    • Major reduction in MMR has been seen in Empowered Action Group (EAG)states — from 246 to 188.
    • Uttar Pradesh has topped the list in reduction of maternal deaths with 30 %
    • Kerala, Maharashtra and Tamil Nadu have already met the SDG target for MMR of 70 per 1,00,000.
  1. Indian Institute of Technology, Bombay (IIT-B), Indian Institute of Science (IISc), Bangalore, and Indian Institute of Technology, Delhi (IIT-D) are in the top 200 in QS World University Rankings 2019 by QS Quacquarelli Symonds.
  • The number of Indian universities in the top 1,000 increased from 20 to 24.
  • IIT-Bombay is now the top institute in the country rising 17 positions from 2018 to 162, displacing IIT-Delhi which has remained at 172
  1. The Advisory Committee under the Ministry of Water Resources, River Development and Ganga Rejuvenation approved 2 major irrigation/multipurpose projects and 4 flood management schemes/ master plans with a cumulative cost of  84,748 crore from six states/UT.
    • The Upper Pravara (Nilwande-II) Project is of 
    • The Kaleswaram Project is of Telangana.
  1. The operation NISTAR was successful and 38 Indian Nationals were successfully evacuated from the Socotra Island.
    • This operation was performed by Indian Naval Ship Sunayna.
    • They were rescued from cyclone-hit Socotra island in Yemen under swift Humanitarian and Disaster Relief Operation (HADR) code named Operation NISTAR.
    • Indian Nationals were stranded for nearly 10 days after severe cyclonic storm Mekunu devastated area around Socotra Island.
  1. Shri Ashwani Lohani, Chairman, Railway Board has launched a document called “ Guidebook for creating a child-friendly and protective environment for children in contact with Railways” developed by National Commission for Protection of Child Rights (NCPCR).
    • The aim of this guidebook is to protect children who have run away from abusive situations at home or are lost and have reached railway platforms as they are extremely vulnerable to abuse by strangers.
    • Information Education Communication (IEC) Materials on child protection was launched in association with Save the Children to create awareness among stakeholders and people.
  1. A new portal with single window facility for job seekers and employers was launched in Kerala.
    • The facility was conceived and developed by Kerala Academy for Skills Excellence (KASE).
    • LinkedIn, a social media platform has also been associated with this portal.

 

  1. The City of Hyderabad in Telangana has ranked third in the most sound polluted city list as per Central Pollution Control Board (CPCB).
    • It is also considered among the top 10 most air-polluted metropolitan cities.
  1. According to a report of Economics and Peace in Sydney Australia, India ranked 136 on the Global Peace Index 2018.
    • Iceland got the top rank and has been ranked the most peaceful country since 2008.
    • Top 10 Peaceful Countries in 2018 GPI: Iceland (1), New Zealand (2), Austria (3), Portugal (4), Denmark (5), Canada (6), Czech Republic (7), Singapore (8), Japan (9) and Ireland (10).
    • Top 10 Least Peaceful Countries: Syria (163), Afghanistan (162), South Sudan (161), Iraq (160), Somalia (159), Yemen (158), Libya (157), Democratic Republic of Congo (156), Central African Republic (155) and Russia (154).
  1. Electric Vehicles market of India
    • The National Electric Mobility Mission Plan was launched in 2013 by then prime minister Manmohan Singh.
    • The UPA government had envisaged electric and hybrid cars reaching 6-7 million units by 2020.
    • Through Energy Efficiency Services Ltd, the govt put out a tender to procure 10,000 electric cars, which was won by Tata Motors and Mahindra & Mahindra.
    • The EV market in India was about 25,000 units at the end of 2016-17. Of the total EVs sold, nearly 92% were two-wheelers, while electric cars and four-wheelers accounted for less than 8% of total sales, according to Society of Manufacturers of the Electric Vehicles.
  1. Every third adult in rural and every fifth adult in urban areas use tobacco in some or the other form, revealed the Global Adult Tobacco Survey 2 (GATS 2), released by the Ministry of health and family welfare
    • GATS 2 revealed that 28.6% (266.8 million) of adults in India aged 15 and above currently use tobacco in some form
    • Among the adults, 9% (232.4 million) are daily tobacco users and 3.7% (34.4 million) are occasional users.
    • The most commonly used tobacco product in India is khaini and it is used by every ninth adult (11.2%).

 

INTERNATIONAL NEWS

  1. World’s first European Pressurized Reactor (EPR) nuclear reactor started its operations in Taishan, in Southern China.
    • It is being managed by China General Nuclear Power Corporation.
  2. Refugees now make up 1% of the world’s population, the highest in modern history.
    • There were 68 million refugees and internally displaced people in 2016, a rate of 910 people per 100,000.


 

BANKING AND ECONOMY

  1. Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN
    • According to the World Investment Report, 2018 by the UN Conference on Trade and Development (UNCTAD) global foreign direct investment flows fell by 23 percent in 2017, to USD 1.43 trillion from USD 1.87 trillion in 2016.
  1. RBI announced a relaxation of 180 days for MSMEs who are not classified as ‘Non-Performing’.
    • MSMEs which were standard as on August 31, 2017, shall continue to be classified as the standard by banks and NBFCs if the payments due as on September 1, 2017, and falling due thereafter up to December 31, 2018, were paid not later than 180 days from their original due date.
    • After January 2019 the rules will fall back to the normal 90 day regime for the GST registered MSMEs.
  1. The Reserve Bank of India (RBI) has announced that it will set up a Public Credit Registry (PCR) as a repository of information regarding loan information of individuals and corporate borrowers.
    • This decision has been taken as per recommendations of M. Deosthalee committee set up by the central bank.
    • PCR will work as a repository of all loan contracts, duly verified by reporting institutions for all / any lending in India, regardless of the amount of the loan.
    • PCR should also capture data such as external commercial borrowings, market borrowings, and all contingent liabilities; and should provide a holistic picture of the borrower’s indebtedness.
    • This registry will distinguish between bad borrowers and good borrowers and will offer interest rates accordingly.
  1. The Reserve Bank of India (RBI) permitted Non-Banking Financial Companies (NBFCs) to invest in infrastructure investment trusts (InvITs), in a bid to promote infrastructure development through this investment route.

 

 

APPOINTMENTS

  1. R Gandhi, former deputy governor of RBI (Reserve Bank of India) has joined the board of Electronic Payment Services (EPS)as Independent Director.
  2. West Bengal Governor Keshari Nath Tripathi was given additional charge of Tripura, during the absence of Tathagata Roy, Governor of Tripura.

 

 

AWARDS

  1. India cricket captain Virat Kohli will be presented the Polly Umrigar Award for the best international cricketer (2016-17 and 2017-18) at the BCCI Awards that will be held in Bengaluru.
    • Harmanpreet Kaur and Smriti Mandhana will be awarded the best international cricketer (women) for the 2016-17 and 2017-18 seasons respectively.
    • They will be the first recipients of this award.
  1. Anupam Kher will be presented the Lifetime Achievement honour at the 19th edition of International Indian Film Academy (IIFA) awards ceremony in Bangkok.

 

 

SPORTS

  1. Mithali Raj became the first Indian cricketer to score 2000 runs in Twenty20 Internationals (T20I)
    • Now she has 2,015 runs in 75 matches and has become the seventh woman to reach 2,000 runs.
    • The list is topped by Charlotte Edwards (2,605), Stafanie Taylor (2,582) and Suzie Bates (2,515).

 

MISCELLANEOUS

  1. The flower Impatiens Dorjeekhanduii was named after the former Arunachal Pradesh Chief Minister Dorjee Khandu.

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