1.As per the Moody’s Investors Service in its Global Macro Outlook 2020-21 projected the Indian economy to shrink by what per cent in the fiscal year 2020?
2.Traditional New Year festival ‘Ashadhi Bij’ is celebrated in which state of India?
3.As per the new Purchasing Power Parities (PPPs) released by the World Bank what is India’s global position as an economy in terms of PPPs?
C. The third
4.What is the budget outlay for the recently approved Animal Husbandry Infrastructure Development Fund (AHIDF) by the Union Cabinet?
A. 20,000 crores
B. 25,000 crores
C. 40,000 crores
D. 15,000 crores
5.The Union Cabinet has approved the declaration of the Kushinagar Airport as an international airport, it is located in which state?
A. Uttar Pradesh
6.Famous sportsperson K Raghunath passed away recently, he was associated with which sports?
7.Consider the following statements related to anti-dumping duty:
1.India slaps anti-dumping duty on steel from China, Vietnam, Korea.
2.The Government of India created ‘Directorate General of Anti-Dumping and Allied Duties-DGAD’ in place of ‘Directorate General of Anti-Dumping and Allied Duties-DGAD’ in the year 2016.
Which of the above statement/statements are correct?
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
8.Consider the following statements:
1.Government announces 2 per cent interest subsidy for small borrowers under Mudra Yojana.
2.Pradhan Mantri Mudra Yojana has been launched on April 8, 2014 with the objective of providing loans up to 10 lakh to non-corporate, non-agricultural small / micro enterprises.
3.Loans under PMMY are classified as MUDRA loans.
Which of the statements given above is/are correct?
A. 1 and 2 are correct
B. 1 and 3 are correct
C. 2 and 3 are correct
D. All of the above
9.Consider the following statements:
1.Union Cabinet approves formation of “IN-SPACe”.
2.It has been approved to encourage the participation of private sector in the entire range of space activities.
Moody’s Investors Service projected the Indian economy to shrink 3.1 per cent in 2020 and said clashes with China on the border also suggest rising geopolitical risks in the Asian region where countries are particularly vulnerable to changes in geopolitical dynamics.
Global Macro Outlook also indicated that China would be the only G-20 country to record growth of 1% in fiscal year 2020 and expects it to grow at 7.1% in fiscal year 2021. Moody’s also forecasted the growth of G-20 economies and expects it to contract by 4.6% in fiscal year 2020 followed by 5.2% growth in 2021.
Ashadhi Bij, the Kutchi New Year is celebrated in Kutch region of Gujarat. The Prime Minister Narendra Modi has greeted the people on the special occasion. Ashadhi Bij falls on the second day of Shukla paksha of Ashada month of Hindu calendar. The festival is associated with the beginning of rains in the Kutch region of Gujarat. During Ashadhi Bij, the moisture in the atmosphere is checked to predict which crop would do best in the coming monsoon.
Recently, the World Bank has released new Purchasing Power Parities (PPPs) for reference year 2017, under International Comparison Program (ICP) that adjusts for differences in the cost of living across economies of the world. The ICP 2017 results, revised results for 2011 and estimates of annual PPPs for the period 2012-2016 are available on the ICP website and the World Bank’s Databank and Data Catalog. In 2017, India retained and consolidated its global position, as the third largest economy and accounted for 6.7% of global GDP in terms of PPPs. China was at first position with 16.4% and the USA at the second position with 16.3%.
India is also the third largest economy in terms of its PPP-based share in Global Actual Individual Consumption (AIC) and Global Gross Fixed Capital Formation (GCF).
The government announced a Rs 15,000 crore infrastructure development fund with an interest subsidy scheme to promote investment by private players and MSMEs in dairy, meat processing and animal feed plants, a move which is expected to create 35 lakh jobs.
The fund is part of the Rs 20 lakh crore stimulus package announced in May to help people affected by the lockdown to prevent the spread of COVID-19.
Union Cabinet has given International Airport status to Kushinagar Airport in Uttar Pradesh. The International status to the Airport will end in boosting of domestic/international tourism and economic development of the regions. It will be a crucial strategic location with the international border accessible.
A 3-km-long runway strip has already been made. Now, even an enormous aircraft of Airbus can land at the airport. Kushinagar is located within the north-eastern a part of Uttar Pradesh about 50 km east of Gorakhpur and is one among the important Buddhist pilgrimage sites.
Former Karnataka basketball star K Raghunath passed away.Fondly referred to as ‘Pappachi’, Raghunath was one of the founding members of the still-popular Beagles Basketball Club.Raghunath’s tryst with basketball began in 1958, and before long he was winning accolades for the Malleswaram High School and subsequently National College and Government Science College (B.Sc).
The shooter, who was diagnosed with cancer during the Nationals in Kerala two years ago, started her career in Mumbai before shifting base to Pune.
Indian government on Tuesday imposed anti-dumping duty on imports of ”Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc” originated from China, Vietnam, South Korea for a period of five years to safeguard domestic manufacturers from cheap imports.The duty imposed is in the range of USD 13.07 per tonne to USD 173.1 per tonne on imports of ‘Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc’ from these three countries.
Directorate General of Trade Remedies (DGTR)
Meaning of dumping and anti-dumping duty?
The Union Cabinet approved a scheme for 2 per cent interest subvention to all Shishu loan accounts for a period of 12 months under the flagship Pradhan Mantri Mudra Yojana (PMMY). Under the Shishu category, collateral free loans of up to Rs 50,000 are given to beneficiaries.
Pradhan Mantri Mudra Yojana
Three types of loans were arranged under the Pradhan Mantri Mudra Yojana
Importance of the scheme
Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the establishment of Indian National Space Promotion and Authorization Centre (IN-SPACe). It has been approved to encourage the participation of private sector in the entire range of space activities. It will also enable Indian Industry in becoming an important player in global space economy.
Private Sector and India
Private Sector in Space Industry – Benefits
There has been some increase in the Indian Space Research Organization (ISRO) annual budget in recent years, reflecting the growth of ISRO, although the demand for space-based services in the country is also increasing at a rapid pace, due to which ISRO Not able to meet these demands. In such a situation, the role of the private sector becomes very important to fulfill the demand.
Many analysts believe that the overall development of the Indian space sector cannot be ensured without private sector participation. In such a situation, if India has to make overall development of the space sector, then it will have to create a favorable environment for the private sector.
By restricting space activities to ISRO only, proper utilization of the human capital present in the country is not possible. In this way, opening up the space industry to the private sector will make full use of the available human capital resources in the country.
Ensuring private sector participation in the space industry will enable the development of better and important technologies. This will lead to the integration of many other technologies such as artificial intelligence (AI) into space exploration activities.
Each space-related launch entails different types of risk, so the private sector can help share the risk of the cost factor.
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