Tag: Economics

Current Trends in Indian Economy  India remained the world’s larges arms importer for the five-year period between 2018 and 2022  According to the Swedish think tank Stockholm International Peace Research Institute (SIPRI), Russia was the largest supplier of arms to India from 2013 to 2022, but is share of total imports fell from 64% to 45% while France is the second largest supplier.  

ECONOMICS Money laundering laws will now cover cryptocurrency trade India’s money laundering laws will apply to trade in cryptocurrencies,  The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws,

DDWS, Jal Shakti Ministry and GoI launched the 10 Year Rural Sanitation Strategy (2019-2029) The Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti, Government of India(GoI) launched 10 Year Rural Sanitation Strategy(2019-2029) to focus on sustaining the change in sanitation behaviour that has been achieved under Swachh Bharat Mission Grameen (SBM-G). This is done to dedicate the Swachh Bharat to Mahatma Gandhi on his 150th birth anniversary by ensuring increase in access to solid and liquid waste management and also ensuring no one is left behind. ShriGajendra Singh Shekhawat, Union Minister of Jal Shakti, launched the strategy book. Key Points: Achievements: Since SBM-Gs launch in 2014, 10 crore toilets have been built in rural areas across the country and nearly 5.9 lakh villages, 699 districts, 35states and Union Territories(UT) were declared Open Defecation Free (ODF) by themselves. This strategy in planning for ODF Plus has been prepared by DDWS.

Latest Inventions on Science & Technology First Indigenous Fuel Cell System launched on CSIR Foundation Day The President of India Ramnath Kovind unveiled the first Indigenous High-Temperature Fuel Cell System. This system is developed by Council of Scientific and Industrial Research (CSIR) in partnership with Indian industries under India’s flagship program named “New Millennium Indian Technology Leadership Initiative (NMITLI)” on the occasion of CSIR Foundation Day in New Delhi. The 5.0 kW fuel cell system generates power in a green manner using methanol / bio-methane, with heat and water as bi-products for further use; amounting to greater than 70% efficiency, which otherwise may not be possible by other energy sources. Pilot Project for ‘Industry 4.0’ launched at the Modern Coach Factory, Raebareli The Ministry of Railways and Department of Science & Technology in partnership with Indian Institute of Technology(IIT) Kanpur launched a pilot project for implementation of ,‘Industry 4.0’which is a subset of the 4th industrial revolution, at Modern Coach Factory (MCF) at Raebareli, Uttar Pradesh (UP). This launched project, would be undertaken under the aegis of “Technology Mission for Indian Railways” (TMIR). Industry 4.0:It is the name given to current trends in automation and data exchange in manufacturing technologies for productivity increment. Industry 4.0 makes use of Internet of Things(IoT), Artificial Intelligence(AI), Big Data & Analytics, Machine Learning and Cloud Computing. As Industry 4.0 is a complex system, the architecture will have to be gradually expanded in phased manner only inorder to achieve Overall Equipment Effectiveness (OEE). About MCF, Raebareli: Founded: 2012. Headquarters: Raebareli, Kanpur, Uttar Pradesh. This MCF has the capacity to manufacture 1000 passenger coaches annually. It has increased its production 710 Linke Hofmann Busch(LHB) coaches in 2017-2018 to 1425 LHB coaches in 2018-2019. ISRO initiated ‘Project NETRA’- A space situational awareness step to detect debris and other hazards to Indian satellites The Indian…

New Eonomic Policy & Govt. Sector Nepal Central Bank issued 3 coins bearing Sikh emblem to commemorate 550th birth anniversary of Guru Nanak Dev The Governor of Nepal’s Central Bank ‘Nepal Rastra Bank (NRB)’,Chiranjibi Nepal & Indian Ambassador Manjeev Singh Puri have jointly released three coins(100, 1000 and 2500 Nepali rupees) bearing the Sikh symbol to commemorate the 550th Birth Anniversary of Guru Nanak Dev. These coins will be available in the market from September 30, 2019. Key points: A book titled “Sikh Heritage of Nepal” based on Sikh heritage of Nepal was also launched in the program. This book has been published by BP Koirala India-Nepal Foundation in association with the Indian Embassy in Nepal. Guru Nanak dev : He was Nirguna Bhakti saint and social reformer was born at Nankana Sahib (formerly known as Rai Bhoi Di Talwandi) near Lahore,Pakistan in April 15, 1469. He was the first Sikh Guru and founder of Sikhism. The verses composed by him were collected in Adi Granth, written in Gurmukhi script.Guru Nanak Jayanti festival celebrates the birth of Guru Nanak. He is said to have visited Balaju area on the outskirts of Kathmandu,Nepal five hundred years ago. The 550th birth anniversary of Guru Nanak Dev will be celebrated on 12 November, 2019. About NRB: Founded: 26 April 1956 Headquarters : Kathmandu, Nepal

Govt – Welfare oriented Govt schemes, their utility Gujarat launches India’s first ‘Emissions Trading Scheme (ETS)’ to combat particulate air pollution The State Government of Gujarat has launched India’s 1st trading program called “Emissions Trading Scheme (ETS)”in Surat, Gujarat to combat particulate air pollution. Key points: About ETS: ETS ,an initiative of Gujarat Pollution Control Board (GPCB) , is a market-based system where the government sets a cap on emissions and allows industries to buy and sell permits (in kilograms) to stay below the cap . For this reason, ETS is also called as a cap-and-trade market. It is designed with the help of a team of researchers from different institutions. Cap-and-trade market : Under this, the GPCB initially determine the total mass of pollution that can be put into the air over a fixed period by all factories/Industries as a whole. A permit is then created in which each is allowed some degree of pollution emissions and the total permit is equal to the maximum fixed pollution emissions. This permit is usually a number/unit that can be bought or sold. Why Surat: Surat is a densely populated industrial center where textile and dye mills emit large amounts of air pollution & it is equipped with Continuous Emission Monitoring Systems already which makes it possible to predict the mass of Particulate Matter (PM ) being released.

RupaGurunathappointed as first woman president of Tamil Nadu Cricket Association RupaGurunathwas appointed as the first woman president of Tamil Nadu Cricket Association (TNCA) at the 87th Annual General Meeting of TNCA held at Chepauk MA Chidambaram Stadium in Chennai, TamilNadu. With this appointment she also became the first woman to head a state level cricket body in the country. Key Points: Whole time director of India Cements, Rupa is the daughter of former Board of Control for Cricket in India (BCCI) chief N Srinivasan and wife of Gurunath Meiyappan, who is currently serving life ban for involvement in the 2013 Indian Premier League (IPL) spot-fixing scandal.

For the first time, Saudi Arabia to offer tourist visas Saudi Arabiawill offer tourist visas for the first time as a measure to expand its economy away from oil. As a part, it will open applications for online tourist visas to citizens of 49 countries. Enhancing tourism is a one among the targets in Vision 2030 reform programme of Crown Prince of Saudi Arabia, Mohammed bin Salman. About Saudi Arabia: Capital: Riyadh Currency: Saudi riyal

21st session of FAO-WHO Coordinating Committee of Asia for 2019 held in Panaji, Goa The 21stsession of the Food and Agriculture Organisation (FAO) and World Health Organisation (WHO) Coordinating Committee of Asia for 2019 was held at the Double Tree by Hilton Goa- Panaji, Goa from September 23-27, 2019. It was the second session of the Coordinating Committee in Asia, organized by the Food Safety and Standards Authority of India (FSSAI) in collaboration with the WHO and FAO of the United Nations (UN). Key Points: The aim of the session was to identify issues and explore best practices in food safety at primary production in the region and delegates from 18 member countries participated in the session. The committee was initially elected in July 2015 and was re-elected in July 2017 by the Codex Alimentations Commission (CAC). CIAL ranked as the best airport in terms of customer satisfaction: ACI Survey In a survey conducted by Airport Council International (ACI), Cochin International Airport Ltd(CIAL) at Kochi, Kerala was named as the best airport in terms of services it offered to passengers. It stood at the top spot in 5-15 million passenger category among the airports in the Asia-Pacific region. Key Points: In 2018, CIAL was the best airport in the 5-15 million category in the Asia Pacific region and received the recognition at the 2nd annual ACI Customer Experience Global Summit held at Bali, Indonesia. The annual Airport Service Quality (ASQ) awards by ACI ranks and awards the best airports in the world based on ASQ departure survey. ASQ is the only global airport survey based on measuring passengers’ satisfaction taken while they are at the airport. President Ram Nath Kovind launched First Indigenous High Temperature Fuel Cell System by CSIR under NMITLI in Delhi The President of India, Shri RamNathKovind, launched first IndigenousHigh Temperature Fuel Cell System developed by Council of Scientific and Industrial Research (CSIR) under flagship programme named “New Millennium Indian…

Latest Inventions on Science & Technology Second interstellar object 2I/Borisov discovered in the solar system According to the International Astronomical   Union (IAU), a second interstellar object named 2I/Borisov has been discovered in the solar system. It was discovered by amateur astronomer Gennady Borisov from MARGO observatory, Crimea on August 30, 2019 which looked like a comet from a 0.65-metre telescope built on his own. The first interstellar object was 1I/”Oumuamua Key Points: It has an orbit as hyperbolic. 2I/Borisov will make its closest approach to the sun on 7 December 2019. The conclusions of the discovery has been supported by the National Aeronautics and Space Administration’s (NASA) Jet Propulsion Laboratory (JPL) Solar System Dynamics (SSD) Group. About an interstellar object: An interstellar object is an astronomical object- an asteroid, comet or possibly planet, but not a star or substar, that is located in interstellar space and is not gravitationally bound to a star. Interstellar space is the physical space within a galaxy beyond the influence each star has upon the encompassed plasma. Mass Media & Communication G Kishan Reddy launched street crime patrol van ‘prakhar’ and emergency response number ‘112’ The Minister of State for Home Affairs Shri G Kishan Reddy, flagged off “Prakhar” street crime patrol vans in New Delhi in order to control crimes in the city and also launched single emergency helpline number 112 for immediate assistance. The main call centre has been set up at Shalimar Bagh in New Delhifor this purpose. Key Points: About helpline no: Emergency Response Support System no 112 (ERSS-112) will be a common helpline no. for all emergency services to approach police, ambulance, fire brigade and others. A person can avail help either through through dial or through mobile app. In a smartphone device, a panic call can be created by pressing the power button thrice to activate panic call…