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BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)
BENEVOLENT IAS ACADEMY
#25, Sri Nagar, Hope College, Peelamedu (PO), Coimbatore – 641004.Ph: +91422-4521607, Cell: +91-9787731607, 9787701067/9787701068. Web:www.benevolentacademy.com.E-Mail:[email protected]
Dated 13.11.2019
TODAY’S IMPORTANT CURRENT AFFAIRS
UPSC-IAS|IPS|IFS (PRELIMS + MAINS FOCUS)
IN NEWS The problem with re-basing GDP estimates
The National Statistical Office (NSO) has recently proposed to replace the existing base year of 2011- 12
with 2017-18 for calculating the GDP estimates in India. Such periodic change in the base year is carried out
every 7-10 years in order to reflect the changing economic structure and relative prices of the goods and
service.
Backround : Gross domestic product is the single standard indicator used across the globe to indicate the
health of a nation's economy: one single number that represents the monetary value of all the finished goods
and services produced within a country's borders in a specific period.
BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)
India's Central Statistic Office calculates the nation's gross domestic product (GDP).
India's GDP is calculated with two different methods, one based on economic activity (at factor
cost), and the second on expenditure (at market prices).
The factor cost method assesses the performance of eight different industries.
The expenditure-based method indicates how different areas of the economy, such as trade,
investments, and personal consumption, are doing.
The Factor Cost Figure
The factor cost figure is calculated by collecting data for the net change in value for each sector during a
particular time period. The following eight industry sectors are considered in this cost:
1. Agriculture, forestry, and fishing
2. Mining and quarrying
3. Manufacturing
4. Electricity, gas and water supply
5. Construction
6. Trade, hotels, transport, and communication
7. Financing, insurance, real estate, and business services
8. Community, social and personal services
The Expenditure Figure :
The expenditure (at market prices) method involves summing the domestic expenditure on final goods and
services across various streams during a particular time period. It includes consideration of expenses
towards household consumption, net investments (i.e., capital formation), government costs, and net trade
(exports minus imports).
BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)
TODAY’S IMPORTANT CURRENT AFFAIRS
TNPSC|SSC|RRB|BANK
The 6th World Congress on Rural and Agriculture Finance was held in New Delhi.
It was inaugurated by the Union Minister for Finance &
Corporate Affairs Smt. Nirmala Sitharaman.
The meeting was jointly organized by Asia-Pacific Rural
Agricultural and Credit Association (APRACA) and National Bank
for Agriculture and Rural Development (NABARD).
Government's measure:
♦ Government of India has set up top priority to put the farmers' concerns and rural development on a
larger landscape.
♦ The Government also provided soil health cards that will benefit the farmers.
♦ The Centre is already providing $200 billion of agriculture credit every year to small and marginal
farmers. It is expected that the measures aided by technology interventions will boost financial inclusion
and rural financing efforts.
♦ the meeting also highlighted the need for the farmers to contribute to the solar energy generation,
installing solar panels in his farms, participation in wind energy, etc.
♦ the meeting directed NABARD to provide immediate measures and necessary steps to extend support to
the farmers in the Union Territories of Jammu and Kashmir and Ladakh.
Participants:
The representatives of financial institutions and banks from over 40 countries, including China, Indonesia, Malaysia, Nepal, Thailand, etc.
India is to host the 19th council of heads of government of
the SCO
India is to host the 19th council of heads of government of the Shanghai
Cooperation Organisation(SCO) in 2020. This will be India's first such high-
level meeting of the eight-member grouping to be organized by New Delhi after its admission into
the grouping in 2017. The decision was made at the SCO summit held in Tashkent.
BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)
18th meeting of SCO:
The 18th meeting of SCO's council of heads of government-held at Tashkent in the month of
October 2019. Defence Minister Rajnath Singh represented India at the summit in Tashkent.
Shanghai Cooperation Organisation (SCO):
SCO is a permanent intergovernmental international organization.SCO was established in 1996.
It is headquartered in Beijing, China. It is responsible for strengthening mutual trust and
neighborliness among the member states.
The founding members of SCO are China, Russia, Kazakhstan, Kyrgyzstan, and Tajikistan. Later, Uzbekistan was admitted to the group. The declaration of SCO was signed in 2001
India and Russia are to set up cyber security
India and Russia are to set up cybersecurity cooperation in
the backdrop of cyber-attack on the Kudankulam nuclear
power plant.
Security breach:
Earlier in the year 2019, a part of a network at the
Kudankulam in Tamil Nadu was breached during a hacking
attack. The authorities believed that it is to have
originated on foreign soil. The plant is India’s largest civil nuclear facility. The attack
compromised the facility’s administrative network, but it did not compromise critical systems
linked to the functioning of the plant. The Indian authorities of the Nuclear Power Corporation
of India Limited (NPCIL) informed the Russian authorities that the plant is safe, and additional
steps have been taken to enhance its security further. After the incident, the Russian
authorities are working with Indian agencies to stop any further attacks.
Russia and India:
Russia and India have a vibrant cybersecurity partnership. The BRICS summit in Brasilia is also
focused on dealing with the challenge of terrorism and referred to setting up a number of
working groups. It aims to deal with terror financing and transnational crimes.
Kudankulam nuclear power plant:
Commission date: 22 October 2013 Location: Kudankulam, Tamil Nadu, India
Owned and operated by: Nuclear Power Corporation of India
KKNPP is the largest nuclear power station in India.
BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)
TODAY’S IMPORTANT CURRENT AFFAIRS
TNPSC Group I, II, IV & VAO
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