Daily Current Affairs

Prelims Prominence - January 24, 2018

Economy

World Economic Forum Inclusive development Index 2018 (IDI-2018) India’s Rank - 62

  • India was ranked at 62nd place among emerging economies on Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF).
  • Norway was again remained world’s most inclusive advanced economy, while Lithuania again topped list of emerging economies
  • India’s position is much below China (26th) and Pakistan (47th).

Enlighten about Inclusive Development Index (IDI)

  • It measures progress of 103 economies on three individual pillars – growth and development; inclusion; and inter-generational equity.
  • It has been divided into two parts. The first part covers 29 advanced economies and second 74 emerging economies.
  • The index takes into account the living standards, environmental sustainability and protection of future generations from further indebtedness.

Top-five most inclusive emerging economies

  • Lithuania, Hungary, Azerbaijan, Latvia and Poland.

BRICS economies

  • Russia was ranked at 19th, followed by China (26), Brazil (37), India (62) and. South Africa (69).

Regarding India –

  • It was ranked 60th among 79 developing economies in IDI-2017. India was among ten emerging economies with ‘advancing’ trend, despites its low overall score.
  • Of three pillars that make up index, India was ranked 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity.
  • India’s neighbours: China (26th), Nepal (22), Bangladesh (34), Sri Lanka (40) and Pakistan (47th).

Appointments

Scientist S.Somanath – appointed as Director of Vikram Sarabhai Space Centre

Enlighten about Vikram Sarabhai Space Centre

  • It is a space research development centre of ISRO, under the Department of Space (DOS).
  • It is located in Thiruvananthapuram (Kerala)
  • To focus on rocket and space vehicles for India’s satellite programme.
  • It was established in 1963 as Thumba Equatorial Rocket Launching Station (TERLS)
  • It was later renamed in honour of Dr. Vikram Sarabhai, father of the Indian space program.
  • VSSC is an entirely indigenous facility working on development of sounding rockets, Rohini and Menaka launchers, and ASLV, PSLV, GSLV and GSLV Mk III families of launch vehicles.

Index/Reports

Global index of talent competitiveness India’s Rank – 81st ( 92nd last year)

Enlighten about the index

  • The index measures how countries grow, attract and retain talent
  • It is released every year on the first day of the World Economic Forum (WEF) annual meeting
  • The study was released by Adecco, Insead and Tata Communications this year

World Economic Forum

Annual Meeting – 2018 Davos, Switzerland First Indian PM to be attending Davos in over two decades

  • WEF agenda for this year - sustainable and inclusive economic development”
  • Main concern of the forum: Rising global inequality
  • The inequality worries them because it makes economic
  • (i) growth unsustainable,
  • (ii) corrodes politics and undermines democracy
  • Due to this inequality people feel that the only way to get rich is through violence, crime and corruption

Wealth data of India -

  • According to a Credit Suisse Global Wealth data for India, in 2017, 73 per cent of the increase in wealth in India went to the top one per cent
  • India now has 101 billionaires, with 17 new billionaires added last year
  • They have not all earned this wealth through hard work — 37 per cent of India’s billionaires have inherited wealth
  • There are only four women billionaires and three of them inherited family wealth

World Economic Forum

  • The World Economic Forum (WEF) is a Swiss nonprofit foundation, based in Cologny, Geneva, Switzerland.
  • Recognized by the Swiss authorities as an international body, its mission is cited as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”

Appointments

Shri O.P. Rawat New Chief Election Commissioner

  • Shri Om Prakash Rawat today assumed charge as 22nd Chief Election Commissioner (CEC) of India succeeding Shri A.K. Joti.
  • Born on 2nd December, 1953, Sh. Rawat a former Indian Administrative Service (IAS) officer of 1977 batch retired from active service in December, 2013. He served in various capacities in his cadre Madhya Pradesh as also the Centre including the post of Secretary, Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises from 3rd April 2012 to 31st December 2013.

Ministry of Social Justice & Empowerment

National Handicapped Finance and Development Corporation (NHFDC)
National Conference of State channelizing Agencies, Public Sector Banks and Regional Rural Banks of NHFDC

What –

  • A National Conference of the State channelizing Agencies, Public Sector Banks and Regional Rural Banks of National Handicapped Finance and Development Corporation (NHFDC) held
  • Why –

    • for better coordination with NHFDC and Channelising agencies for the smooth and better implementation of NHFDC Schemes for the benefit of larger number of Persons with Disabilities (Divyangjan).

Enlighten about NHFDC –

  • National Handicapped Finance and Development Corporation (NHFDC) was set up by the Department of Disability Affairs, on 24th January 1997 with the objective of serving as a catalyst in the economic development of Persons with Disabilities (PwDs) by helping them in setting up self employment projects.
  • The vision of NHFDC is to empower the Persons with Disabilities in order to break away from the dependence on others and from the depressed economic and social conditions by engaging themselves in productive ventures and thus help them to move up the social and economic ladder with dignity and pride
  • NHFDC functions as an apex financial institution of the country and provides financial assistance, in the form of loans, for wide range of income generating activities to eligible Persons with Disabilities.
  • The fund is channelised through the State Channelising Agencies (SCAs) nominated by the respective State/UT Government and Regional Rural Banks (RRBs).
  • NHFDC also provides grants to its partner agencies and reputed training institutes to conduct skill development programmes in various trades to help PwDs in self employment.

Economy

World Economy Outlook – 2018 – released by IMF Indian economy to grow at 7.4% in 2018: IMF

  • World Economic Outlook released by International Monetary Fund (IMF),
  • India is projected to grow at 7.4% of its gross domestic product (GDP) in 2018 as against China’s 6.8%.
  • The projection makes India fastest growing major economy following slowdown in 2017 due to demonetisation and implementation of goods and services tax (GST).
  • Global Economy Projection 3.9%
  • faster than 3.7% forecast earlier in October 2017.
  • . IMF projected India’s GDP growth rate at 7.4% in 2018 and 7.8% in 2019.
  • China, during the same period, is expected to grow at 6.8% and 6.4% respectively.

World Economic Outlook (WEO)

  • The report contains analysis and projections of integral elements of IMF’s surveillance of economic developments and policies in its member countries and of developments in global financial markets and economic system.
  • It is usually prepared twice a year and is used in meetings of the International Monetary and Financial Committee.

Bank recap and Comprehensive Reform Plan

  • The Government of India today unveiled details of the re-capitalisation of Public Sector Banks (PSBs) announced in October, 2017.
  • The capital infusion plan for 2017-18 includes Rs.80,000 crore through Recap Bonds and Rs.8,139 crore as budgetary support.
  • This plan addresses regulatory capital requirement of all PSBs and provides a significant amount towards growth capital for increasing lending to the economy.
  • The recap would be accompanied by a strong reforms package across six themes incorporating 30 action points.
  • The reforms agenda is based on the recommendations made at the PSB Manthan held in November, 2017
  • The reform agenda is aimed at EASE - Enhanced Access and Service Excellence, focusing on six themes of customer responsiveness, responsible banking, credit off take, PSBs as Udyami Mitra, deepening financial inclusion & digitalisation and developing personnel for brand PSB.
  • The overarching framework for the reforms agenda is “Responsive and Responsible PSBs”.

Bilateral Agreements

Japan’s Official Development Loan Assistance to India For Bengaluru Water Supply and Sewerage Project

  • The Government of Japan has committed JICA Official Development Assistance loan for an amount of Yen 45 billion (=Rs.2587 crore approx.) for the project.
  • This Project will provide residents of Bruhat Bengaluru Mahanagar Palike (BBMP) area especially in 110 villages with safe and stable water supply and sewerage services by carrying-out construction of water treatment plant and sewage treatment plants thereby improving living conditions of the residents as well as the investment environment in the concerned areas in BBMP in the State of Karnataka.

Ministry of Women and Child Development

Rapid Reporting System

For

  • Adolescent Girls

launched by

  • Ministry of Women and Child Development today

Enlighten about it –

  • The Rapid Reporting System for the Scheme for Adolescent Girls - a web based on line monitoring for the Scheme for Adolescent Girls in
  • The RRS will facilitate the monitoring of the scheme and taking corrective measures by ensuring faster flow of information, accurate targeting of the beneficiaries and reduction of leakages.
  • This Portal has been developed in collaboration with National Informatics Centre (NIC). The URL for the portal is http://sag-rrs.nic.in.

Aim -

  • to motivate school drop out girls to join school system, approved continuation of the Scheme for Adolescent Girls (SAG) for out of school girls in the age group of 11-14 years.
  • The scheme aims at providing them nutritional support @ Rs.9.50/beneficiary/day for 300 days in a year, motivating out of school girls to go back to formal schooling or skill training under non-nutrition component of the scheme.
  • Government has also approved expansion and universalisation of the Scheme for Adolescent Girls in a phased manner i.e. in additional 303 districts in 2017-18 and the remaining districts in 2018-19 with the simultaneous phasing out of Kishori Shakti Yojana.

Scheme for Adolescent Girls (SAG)

  • SAG aims at empowering out of school adolescent girls of 11 to 14 years by improving their nutritional and health status, upgrading their skills.
  • In addition to the nutritional support under the scheme, the girls are equipped with information on health, hygiene and guidance on existing public services.
  • The Scheme aims to mainstream out of school girls into formal education or non-formal education.
  • The scheme is being implemented using the platform of Integrated child Development Services Scheme.
  • Anganwadi Centres (AWCs) are the focal point for the delivery of the services. Scheme for Adolescent Girls is a centrally sponsored scheme, implemented through Centre and State share in the ratio of 50:50, for nutrition component 60:40 for the rest of the activities for State and UTs with legislation, 90:10 for NE and three Himalayan States and 100% for UTs without legislation.

Ministry of Women and Child Development

The Management Information System (MIS) Portal for Anganwadi Services Training

  • TheMinistry of Women and Child Development launched the Management Information System (MIS) portal for Anganwadi Services Training Programme
  • The Ministry of Women and Child Development in collaboration with National Informatics Centre (NIC), has developeda Management Information System (MIS) portal for submitting applications/estimates by NGOs for carrying out Anganwadi Services (ICDS) Training through AWTCs/MLTCs.
  • The Anganwadi Services Training Programme under the Umbrella Integrated Child Development Services (ICDS) Scheme is a Centrally Sponsored Scheme and the overall administration, management and monitoring of the implementation of the Scheme are being done by the respective State Government/UT Administration.

Ministry of Tourism

‘BHARAT PARV’. From 26thto 31st January, 2018 at Red Fort, Delhi

  • The ‘Bharat Parv’ event is being organized by the Government of India at the Red Fort, Delhi from 26th to 31st January, 2018 as part of the Republic Day 2018 celebrations.
  • The prime objective of organizing the event is to generate a patriotic mood, promote the rich cultural diversity of the country and to ensure wider participation of the general public.
  • The Ministry of Tourism has been designated as the nodal Ministry for the event
  • DAVP is also setting Demonstration up an exhibition on the theme “Naya Bharat Hum Karke Rahenge”.

Sources – PIB indian express,the hindu,