GDP expands at 7.1% in FY17, but slows to 6.1% in Q4 as demonetisation bites

GDP expands at 7.1% in FY17, but slows to 6.1% in Q4 as demonetisation bites

GDP expands at 7.1% in FY17, but slows to 6.1% in Q4 as demonetisation bites

The Indian economy grew 7.1% in 2016-17, the government said on Wednesday in new estimates, identical to the expected expansion in February but slower than the 8% growth of the previous year.

A growth of 6.1 percent in January-March, however, revealed that the economy continues to suffer from shock demonetization which resulted in a sharp decline in high-value bills and limited access to spend cash and to Business investment.

Private final consumption expenditure (CCTB), a measure to measure household expenditure, fell by 58.7% of GDP (at current prices), from January to March 2017, from 61.6% of the quarter And 59.1% in the fourth quarter of 2015-16.

Gross Fixed Capital Formation (GFCF), a guide to measuring investment activity, also declined to 25.5% of GDP (at current prices) from January to March 2017, down from 27% in the previous quarter and 28 5% in the fourth quarter of the previous year.

Head of Statistics TCA Anant India, however, warned against over-reading the impact of the demonetization of GDP data.

“The impact of policies such as the demonetization of GDP data can be described as post-hoc analysis,” Anant said. “The evaluation of the impact of the policy is a complex analysis of econometrics. This is not a simple argument before and after.”

The new gross domestic product (GDP) calculates the factors in plant data and inflation in wholesale prices (MPI), which have lower prices and stronger manufacturing activity compared to Previous estimates.

Earlier this month, the government issued a new set of industrial production index (IIP) and the IPM that changed the base year from 2011 to 2012, from 2004 to 2005. It also added new product categories and changed its weight to bring the Two indices of current consumption trends.

According to the released GDP data Wednesday, using consolidated IIP, gross value added (GVA) in manufacturing increased by 7.9 percent in 2016-17, up from 7.7 percent in the old series, but Slower than the 10.8 percent from the previous year.

IPM inflation is used to achieve real growth series from the nominal data. The new IPM series is still lower than the old series, which shows small deflation index values. According to the new series, WPI increased by 1.7% in 2016-17 compared to 3.7% in the previous series.

GVA VS GDP

The Central Bureau of Statistics (CSO) said the slower growth for GVA – 6.6 percent in 2016-17 – suggesting that the expansion is slower than what GDP prime numbers suggest.

GVA, which is GDP minus tax, serves as a more realistic proxy for measuring changes in the total value of goods and services produced in the economy.

In the second preliminary estimates published in February, the CSO had estimated that GVA growth, which is GDP minus net taxes, will slow to 6.7% in 2016-17. Wednesday, preliminary estimates have shown that GVA increased by 6.6% in 2016-17, or 1.3 percentage points slower than the 7.9% of the previous year.

The effect of the return of the currency in November 2016 and the resulting slowdown in consumption and investment could be hidden in the estimates of slower growth in GVA and GDP.

Higher indirect tax revenues in 2016-17 may also partly explain GDP growth forecast The Indian economy grew 7.1% in 2016-17, the government said on Wednesday in new estimates, similar to the expected expansion in February but slower than The 8% growth of the previous year.

A growth of 6.1 percent in January-March, however, revealed that the economy continues to suffer from shock demonetization which resulted in a sharp decline in high-value bills and limited access to cash and business investment.

Private final consumption expenditure (CCTB), a measure to measure household expenditure, fell by 58.7% of GDP (at current prices), from January to March 2017, from 61.6% of the quarter and 59.1% in the fourth quarter of 2015-16 .

Gross Fixed Capital Formation (GFCF), a guide to measuring investment activity, also declined to 25.5% of GDP (at current prices) from January to March 2017, down from 27% in the previous quarter and 28 5% in the fourth quarter of The previous year.

Head of Statistics TCA Anant India, however, warned against over-reading the impact of the demonetization of GDP data.

“The impact of policies such as the demonetization of GDP can be described as post-hoc analysis,” Anant said. “The evaluation of the impact of the policy is a complex analysis of econometrics. This is not a simple argument before and after.”

The new gross domestic product (GDP) calculates the factors in plant data and inflation in wholesale

Cow is pious like peacock, says Rajasthan judge ‘speaking from soul’

Cow is pious like peacock, says Rajasthan judge ‘speaking from soul’

Cow is pious like peacock, says Rajasthan judge ‘speaking from soul’

Shortly after recommending the center of the cow the national animal, Rajasthan Judge, Justice Mahesh Chandra Sharma, defended his position by stating that the cow helps us in all possible ways.

Citing the Hindu scriptures, including the Ramayana and the Vedas, Judge Sharma said that cow’s milk has been used to cure various diseases. “I made the recommendations to the center. It is the voice of my soul that speaks,” he told the media off the field.

He wondered why the cow was to be the national animal, Judge Sharma said the peacock became the national bird of India because “it is a Brahmachari.” Peacock Divine qualities like cow – Peahen does not have to have sex to get pregnant, backed up only from the “tears” of the peacock, “he said.

A woman is standing with an ox waiting for donations from pedestrians used to feed animals in Mumbai May 30, 2017.

Addressing life sentences for the slaughter of cows, Judge Sharma said his suggestion would only be enforced by the state of Rajasthan, but he hopes the legislation was eventually adopted nationwide.

Earlier, Judge Sharma said, “This problem is related to sympathy, conviction and faith, to say that protection and respect for the cow are important. We must protest against this, so we can protect our animals. To our parents, we must respect the cows, “said ANI judge of the High Court of Rajasthan, Mahesh Chandra Sharma.
Earlier in the day, a hearing on the subject Hingonia Gaushala recommends Cow Center to become the national animal, adding that the punishment for slaughter cows should be limited to perpetuity.

The Anti-Corruption Bureau (ACB) and the Deputy Director General (ADG) of the police have asked to prepare a report every three months on stability and the court also ordered the Secretary and urban development and housing Municipal Commissioner (UDH) to visit once a month.

Sharma also asked the forest department to plant 5000 plants in the granary each year.

The ruling follows the decision of the Center regarding the ban on the sale of cattle for the massacre, which faces strong opposition from the governments of the states of Kerala, Karnataka and Tripura.

At the beginning of last year, after the death of more than one hundred cows in recent weeks in a government-managed barn in Jaipur, Rajasthan, the government had requested a report on this issue and promised to improve the situation in Hingonia Gaushala

Reports indicate that cow deaths were due to a supposed shelf-life in maintaining stability.

“The Minister requested a report on Hingonia Gaushala. We developed a work plan and action plan to improve the situation there,” said Minister Rajendra Rathore Rajasthan.

According to reports, the authorities initially said that the dead cows were already sick and malnourished.

There are more than 8000 Hingonia Gaushala cows which are occupied by a team of 14 veterinarians, breeders and 24 200 other employees.

Short Notes for Various Competitive Examinations

The Government of India has started a new health scheme called AMRIT (Affordable Medicines and Reliable Implants for Treatment) Retail Pharmacy. The cancer and heart medicine will be sold at discounted and subsidized rates. At this outlet the prices of 202 cancer and 186 cardio-vascular drugs will be reduced on an average by 60 to 90 per cent. The pilot AMRIT outlet will be managed by the government-owned HLL Lifecare Ltd (HLL), which will sell both drugs and implants at significant discount on market rates. These drugs and implants will be sold based upon authentic prescrip­tions from doctors to AIIMS patients and also patients availing treatment at other hospitals. Later, HLL Lifecare Ltd will establish and run the AMRIT chain of pharmacies across the country with an aim to reduce the cost of treatment for the patients.

Save the Children

Save the Children is an inter­national non-governmental organiza­tion that promotes children’s rights, provides relief and helps support children in developing countries. It was established in the United King­dom in 1919 in order to improve the lives of children through better education, health care, and economic opportunities, as well as providing emergency aid in natural disasters, war, and other conflicts. Save the Children promotes policy changes in order to gain more rights for young people especially by enforcing the UN Declaration of the Rights of the Child. Alliance members coordinate emergency-relief efforts, helping to protect children from the effects of war and violence. Save the Children has general consultative status with the United Nations Economic and Social Council.

 

Crypto-currency

Crypto-currency is a type of digital currency that uses crypto­graphy for security and anti­counterfeiting measures. Public and private keys are often used to transfer crypto-currency between individuals. As a counter-culture movement that is often connected to cypherpunks, crypto-currency is essentially a fiat currency. This means users must reach a consensus about crypto­currency’s value and use it as an exchange medium. However, because it is not tied to a particular country, its value is not controlled by a central bank. With bitcoin, the leading func­tioning example of crypto-currency, value is determined by market supply and demand, meaning that it behaves much like precious metals, like silver and gold.

Crowd-funding

Crowd-funding is a way of raising finance by asking a large number of people each for a small amount of money. Until recently, financing a business, project or venture involved asking a few people for large sums of money. Crowd­funding switches this idea around, using the internet to talk to thousands if not millions of potential funders. Typically, those seeking funds will set up a profile of their project on a website such as those run by our members. They can then use social media, alongside traditional net­works of friends, family and work acquaintances, to raise money.

Crowd-funding has the potential to increase entrepreneurship by expanding the pool of investors from whom funds can be raised beyond the traditional circle of owners, relatives and venture capitalists.

GAGAN (GPS Aided Geo Augmented Navigation)

The Indian Space Research Orga­nization (ISRO) and Airports Autho­
rity of India (AAI) have implemented the GPS Aided Geo Augmented Navigation-GAGAN project as a Satellite Based Augmentation System (SBAS) for the Indian Airspace. The objective of GAGAN is to establish, deploy and certify satellite based augmentation system for safety-of- life civil aviation applications in India has been successfully completed. The system is inter-operable with other international SBAS systems like US-WAAS, European EGNOS, and Japanese MSAS etc. Gagan is inten­ded to provide accurate navigation services over the Bay of Bengal, South East Asia, Indian Ocean, Middle East, and African regions. GAGAN pro­vides the additional accuracy, avail­ability, and integrity necessary for all phases of flight, from enroute through approach for all qualified airports within the GAGAN service volume. GAGAN Payload is already operational through GSAT-8 and GSAT-10 satellites.

Bhuvan

Bhuvan is an interactive versatile visualization system that allows users to navigate (or ‘fly’) the entire globe, scanning satellite imagery with over­lays of natural resource information, roads, geographic •> features, and numerous other location-specific data points. Users can add their own points of interest and share them with others, chart routes, plot areas, cal­culate distances, and overlay separate images onto the application. Bhuvan connects to the Internet, making online resources available in connec­tion with particular places. Users can show or hide available layers in any combination. Using the scale and the robust measurement and terrain analysis tools, this user could plot mileages, calculate elevation differ­ence and slope angle between two or more points in the 3D View, terrain elevation profile along a path, find places of interest along the way, and link to Web sites to contact those establishments.

Bio-diesel

Bio-diesel is made from vege­table oil or animal fat (triglycerides) reacted with methanol or ethanol and a catalyst (lye), yielding bio-diesel (fatty acid methyl or pthyl esters) and glycerin as a by-product.

It can be used in any diesel engine without modifications—diesel engines run better and last longer with bio-diesel. And it can easily be made from a common waste product: used cooking oil.Bio-diesel is a much cleaner fuel than conventional fossil- fuel petroleum diesel. Bio-diesel can be used in pure form (B100) or may be blended with petroleum diesel at any concentration in most injection pump diesel engines.

Hydrogen Fuel

Hydrogen fuel is a zero-emission fuel when burned with oxygen (if one considers water not as an emission) or used in a contained cell also capable of ‘reversing’ the reaction if needed. It often uses electrochemical cells, or combustion in internal engines, to power vehicles and electric devices. It is also used in the propulsion of spacecraft and might potentially be mass-produced and commercialized for passenger vehicles and aircraft. Hydrogen can be used as the primary fuel in an internal combustion engine or in a fuel cell. A hydrogen internal com­bustion engine is similar to that of a gasoline engine, where hydrogen combusts with oxygen in the air and produces expanding hot gases that directly move the physical parts of an engine.

Bitcoin

Bitcoin is a form of digital currency, created and held electro­nically. No one controls it. Bitcoins aren’t printed, like dollars or euros— they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathe­matical problems. It’s the first example of a growing category of money known as crypto-currency. A software developer called Satoshi Nakamoto proposed Bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of- any central authority,
transferable electronically, more or less instantly, with very low trans­action fees.

Silver Notice

The Interpol proposes to add to its armoury of measures for com­batting international crime the ’Silver Notice’ that1 would enable it to keep track of and confiscate movable and immovable assets of criminals globally. The Silver Notice will assist the 190 member countries of Interpol to locate, identify, monitor, seize and confiscate the assets of international criminals and terrorist organisations. The ‘Silver Notice’ is expected to promote international action and enhance the speed of the recovery of assets located in foreign jurisdiction. Presently the Interpol has seven major International notices—namely Red, Blue, Green, Black, Orange Notices, Stolen Property Notice and Modus Operandi (MO) Sheets. The Silver Notice, devoted to the tracing and recovery of assets owned by international criminals, would add a powerful instrument to the list of International notices of Interpol.

Uday Scheme

The Union Cabinet has approved a ‘reform’ package for loss-making electricity utilities. The scheme is named Ujwal Discom Assurance Yojana (UDAY). The scheme is aimed at providing financial turnaround and revival of Power Distribution companies (DISCOMs). It also ensures a sustainable permanent solution to the problem. The scheme assures the rise of vibrant and efficient DISCOMs through a permanent resolution of past as well as potential future issues of the sector. The scheme allows DISCOMS in few selected states to convert their debt into state bonds. According to the scheme, states will take over 75% of DISCOM debt as on September 30, 2015 over two years- 50% of DISCOM debt will be taken over in 2015-16 and 25% in 2016-17.

Imprint India

President Pranab Mukherjee on November 5,         2015 launched

‘IMPRINT India’, a joint initiative of country’s top educational institutes, aimed at developing a roadmap for research to solve major engineering and technology challenges relevant
to India today. The objectives of this initiative are to identify areas of immediate relevance to society requir­ing innovation, direct scientific research into identified areas, ensure higher funding support for research into these areas and measure out­comes of the research effort with reference to impact on the standard of living in the rural and urban areas. The idea of launching IMPRINT India, which is now a joint project of IITs and IISc, originated during the conference of Chairmen, Board of Governors and Directors of Indian Institutes of Technology convened by the President in August 2014.

Continued from Page 122

  1. Which of the following state in India tops the list of fruit pro­ducer during the year 2014-15 ?
  • Maharashtra
  • West Bengal
  • Andhra Pradesh
  • Gujarat
  1. As on Monetary Policy review, on February 2, 2016, repo rate stands at—
  • 7-75% (B) 7-25%

(C) 6-75%   (D) 6-25%

  1. ‘Stand-up India’ Scheme is associated with—
  • All small entrepreneurs
  • SC/ST entrepreneurs
  • Only women entrepreneurs
  • Only entrepreneurs in Rural Areas
  1. What is the maximum age of a girl child for opening account in ‘Sukanya Samriddhi Account’ ?
  • 5 years (B) 10 years

(C) 15 years (D) 18 years

  1. Reserve Bank of India has the right of printing currency notes upto the value of—
  • ? 1,000 (B) ? 5,000

(C) ? 10,000       (D) ? 20,000

1. (B) 2. (C) 3. (B) 4. (A) 5. (C
6. (D) 7. (A) 8. (B) 9. (A) 10. (C
11. (C) 12. (A) 13. (C) 14. (B) 15. (D
16. (A) 17. (D) 18. (B) 19. (A) 20. (B)
21. (A) 22. (C) 23. (B) 24. (B) 25. (C