Daily : February 1, 2018

Economic Survey 2017-18

Economic Survey, 2017-18

Question: According to the Economic Survey, 2017-18 presented in Parliament on January 29, 2018, what percentage of growth rate is estimated to be of GDP growth rate for year 2017-18?
(a) 7.5 percent
(b) 6.5 percent
(c) 8.0 percent
(d) 6.75 percent
Answer: (d) 
Related Facts:

  • On January 29th, 2018, Union Finance and Corporate Affairs Minister Arun Jaitley presented ‘Economic Survey- 2017-18’ on the table of Parliament.
  • The main point ofEconomic Survey, 2017-18-
  • It is estimated that the growth rate of real gross domestic product (GDP) will remain 6.75 percent in2017-18.
  • GDP is estimated to be 7 to7.5 percent in the coming fiscal year 2018-19.
  • As per the first Advance Estimates (1st AE), released by Central Statistics Office (CSO), growth rate of Gross Value of Added (GVA) at constant basic prices is estimated at 6.1 per cent in 2017-18, as compared to 6.6 per cent in 2016-17.
  • Similarly ‘Agriculture & allied’, and ‘Industry’ sector, are expected to grow at 2.1 per cent and 4.4 per cent respectively.
  • In 2017-18, service sector is expected to grow at 8.3 per cent, as compared to 7.7 per cent in 2016-17.
  • During the year 2017-18, the average inflation rate remained at the lowest in the last 6 years.
  • Headline inflation as per Consumer Price Index – Combined (CPI-C) declined to 3.3 per cent in 2017-18.
  • India remained the eighth largest exporter of commercial services in the world in 2016 (WTO, 2017) with a share of 3.4 per cent.
  • This is double the share of India’s merchandise exports in the world.
  • India’s services export growth returned to positive territory with 5.7 per cent growth in 2016-17 from growth of (-) 2.4 per cent in 2015- 16.
  • Services exports recorded a robust growth of 16.2 per cent during April-September 2017.
  • India’s service sector imports also exhibited a much higher growth of 17.4 per cent in April-September 2017.
  • Net services receipts rose by 14.6 per cent during April-September of 2017-18 as compared to H1 of 2016-17.
  • The Industrial Production Index (IIP), which is a volume index with base year, has shown an increase of 3.2% in the industrial production during the period April-November in year 2017-18.
  • In November 2017, the IIP registered a growth of 8.4 per cent to take the April-November growth to 3.2 per cent over the corresponding period of previous year.
  • The eight Core infrastructure supportive industries, viz. coal, crude oil, natural gas, petroleum refinery products, fertilizers, steel, cement and electricity that have a total weight of nearly 40 per cent in the IIP.
  • All theses infrastructure attained a cumulative growth of 3.9 per cent during April-November 2017- 18 over the corresponding period of previous year.
  • The production growth of coal, natural gas, refinery products, steel, cement and electricity were positive
  • Steel production has seen a significant increase while crude oil and fertilizer production recorded a slight decline during this period.
  • Total foreign direct investment inflows increased by 8 percent, i.e., to 60.08 billion dollars during the year 2016-17, compared to 55.56 billion dollars in the previous year.
  • In the year 2017-18 (April-September), the total FDI inflow was $ 33.75 billion.
  • By the end of September, 2017, the total number of mobile connections in India was 1207.04 million, of these 501.99 million were in rural areas and 705.05 million in urban areas.
  • 2017-18 (April-September) the number of domestic air travelers in the country was 57.5 million.
  • These recorded an increase of 16 percent compared to the same period last year.
  • Describing the achievements of the energy sectorSurvey, the energy capacity of India has increased to 3, 30,860.6 MW by November 2017.
  • During the year 2017-18 (April-October), FDI equity inflows in service sector increased by 15.0 percent.
  • In the first eight months of the GST of July 1, 2017, the number of indirect tax payers increased by 50 percent.
  • The increase in the direct tax collection ofcenter has been consistent with the previous year and is expected to meet its target of 13.7 percent, while indirect taxes increased by 18.3 percent during April-November, 2017.
  • India’s share of 70 percent of Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana.
  • India’s internal business share in the field of goods and services is 60 percent of GDP.
  • Total food grain production was 275.7 million tones (fourth advance estimate) during the year 2016-17.
  • According to the budget estimate 2017-18 Fiscal deficit is 3.2 percent of the gross domestic product.
  • The country’s foreign exchange reserves reached $ 409.4 billion by December 2017, while it was $ 370.3 billion in 2016-17.
  • 12 January 2018, the total foreign exchange reserves went up to 413.8 billion dollars.
  • As a proportion of the GDP, the expenditure on social services by the Central and the States was being made in the period of 2012-13 to 2014-15 in the range of 6 per cent.
  • Expenditure on social services is 6.6 percent in the year 2017-18 (budget estimate).


IPL 2018: Auction of Players

Question: On 27-28 January, 2018, for the 11th edition of IPL 2018, foreign player Ben Stokes remained the most expensive (Rs 12.5 crore) player in the auction. Which of the following Indian players got most expensive bid?
(a) KL Rahul
(b) Rishabh Pant
(c) Manish Pandey
(d) Jaydev Unadkat
Answer: (d) 
Related Facts:

  • The auction of players for the 11th edition of Indian Premier League, 2018, concluded in Bangalore. (27-28 January, 2018)
  • England’s Ben Stokes remained the most expensive player in the auction this year too.
  • Tram Rajasthan Royals bought him for Rs 12.50 crore.
  • Jaydev Unadkat was the most expensive Indian player bought by Rajasthan Royals for Rs 11.50 crore.
  • Followings are the most expensive five players respectively:
  1. Ben Stokes, 12.50 crores, Team-Rajasthan Royals
  2. Jaydev Unadkat, Rs 11.50 crores, Team-Rajasthan Royals
  3. Manish Pandey, Rs 11 crores, Team-Sunrise Hyderabad
  4. KL Rahul, Rs. 11 crore rupees, Team-Kings Eleven Punjab
  5. Chris Lynn, Rs 9.60 crore, Team-Kolkata Knight Riders
  • Four Afghan players have the IPL 2018 season for the first time.
  • Mujeeb Zadran (Kings XI Punjab), Mohammad Nabi and Rashid Khan Sunrises Hyderabad and Spinner Zahir Khan were bought by Rajasthan Royals made debut for the first time.
  • On the second day ofauction, Nepal’s leg-spinner Sandeep Lamichhane
  • has bought for the base price of Rs 20 lakh by the Delhi Daredevils team.
  • Sandeep will be the first Nepali cricketer to play in the IPL.
  • This time the ‘Right to Match Card’ (RTM) was used in the auction first time.
  • ‘Right to Match Card’ is given to all the franchises.
  • This card can buy back your player sold during the auction.
  • When the auction is over to buy the player, it has to match the bids sold.
  • They have to match the bids sold at the end of the auction to buy the player.
  • It means at the same price the player’s price is worth, the franchisee can get his old player.
  • Shikhar Dhawan, the most expensive player to return to his team through
  • Dhawan was acquired by Kings Eleven Punjab for 5 crore 20 lakhs, but Hyderabad used the RTM card to include Dhawan back in his team.
  • IPL 2018 will be held in different cities of India from April 7th, 2018 to May 27th, 2018.
  • Administrator- BCCI
  • Cricket format- T-20 tournament format- Double round robin and playoffs knockout
  • IPL Governing Council had included total 580 players for the auction, out of which 361 were Indian players.


World Leprosy Day

World Leprosy Day

Question: When is the ‘World Leprosy’ celebrated?
(a) on the first Sunday of January
(b) on the last Sunday of January
(c) on the first Friday of January
(d) on the last Friday of January
Reply- (b) 
related facts:

  • On January 28TH, 2018, World Leprosy Day was celebrated across the world.
  • This year, its theme was set ‘Zero Disability in Boys’ and Girls’.
  • Significantly, this day is celebrated on the last Sunday of January every year.
  • The purpose of celebrating this day is to create awareness about the help of people suffering from leprosy and to train people who care for people suffering from this disease.
  • It is known that leprosy is a chronic infectious disease caused by Mycobacterium leprae.
  • As a result of which there are severe unpleasant lesions on the skin and the nerves of the hands and feet are damaged.
  • This disease is also known as Hansen’s disease (named after Dr. Armor Hansen, a doctor who searches for bacterial disease of this disease).
  • According to the WHO recommendation, effective treatment of leprosy can be done by multidrug therapy (MDT).


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