सामयिक विषय: Economics

Funds for Mandal level animal health fairs approved

Funds for Divisional level Animal Health Fairs approved

Question: How much amount has been sanctioned in the current financial year by Uttar Pradesh government for PT. Deen Dayal Upadhyay Animal Health Fair?
(a) 2 Crore15 Lakh
(b) 2 Crore 50 Lakh
(c) 3 Crore 25 Lakh
(d) 4 Crore 20 Lakh
Answer: (b)
Related Facts:

  • On February 13th, 2018, the amount of Rs.2 Crore 50 Lakh was sanctioned by Uttar Pradesh government in the current financial year for PT. Deen Dayal Upadhyay Animal Health Fair.
  • Under the Scheme, Animal Health Fair at the districts of all the divisional headquarters of the state used to be organized at divisional level Pandit Deendayal by the Department of Livestock.
  • At this fair, free medical treatment of cow and buffaloes, neutrophication Castration, vaccination, animal-infertility treatment etc. are provided by experts as well as information about new technology for animal husbandry is provided to the cattle-holders.
  • On the same day, Uttar Pradesh government sanctioned Rs. 1.62 crore for the State Ground Water Conservation Mission.

Reference:
http://information.up.nic.in/attachments/files/5a82e593-68c4-49c2-b828-76080af72573.pdf

GDP growth in India to accelerate over coming year HSBC

Estimates of economic growth of HSBC

Question: According to recently issued estimates of the growth by Hong-Kong Shanghai Banking Corporation, the growth percentage of Indian economy is likely to remain at which percentage for 2019-20?
(a) 7.6 percent
(b) 7.8 percent
(c) 8.0 percent
(d) 7.5 percent
Answer: (a)
Related Facts:

  • In January 2018, Hong-Kong Shanghai Banking Corporation (HSBC) released the growth prospects of the Indian economy.
  • According to this, the growth rate of India’s GDP is likely to increase from 6.5 percent to 7.0 percent of current fiscal in 2018-19.
  • It is likely to become 7.6 percent in 2019-20.
  • In the recent possibilities, the development of India by HSBC has been described in two short-term parts.
  • The first part includes slowdown and gradual improvement during the short term of 2018 and 2019.
  • These improvements have been achieved as gradual improvement after the interruption related to the implementation of GST.
  • The second part is of bright growth prospects in mid-term (2020 and later).
  • The benefits of recent structural reforms are visible in this section.
  • According to HSBC, the growth rate of the Indian economy is estimated at 6.5 percent in the year 2017-18.
  • According to HSBC, inflation will continue to remain around 4% targeted by RBI as soon as the effect of the transient factors decreases.
  • HSBC has estimated inflation at an average of 3.4 percent during the financial year 2018.
  • However, at the end of the financial year in March, it is estimated to be 4.3 percent.

Reference:
http://www.moneycontrol.com/news/business/economy/gdp-growth-in-india-to-accelerate-over-coming-year-hsbc-2473413.html
http://www.btvi.in/article/read/economy/48426/gdp-growth-in-india-to-accelerate-over-coming-year–hsbc
https://www.deccanchronicle.com/business/economy/020118/gdp-growth-in-india-to-accelerate-over-coming-year-hsbc.html
https://www.businesstoday.in/pti-feed/gdp-growth-in-india-to-accelerate-over-coming-year-hsbc/story/267144.html

Sixth Bi-monthly Monetary Policy Statement, 2017-18

Sixth Bi-monthly Monetary Policy Statement, 2017-18

Question- On February 7th, 2018, the Governor of Reserve Bank of India Dr Urjit Patel and Monetary Policy Committee (MPC) released the sixth bi-monthly monetary policy statement, 2017-18. According to what percentage of the policy repo rate has been retained?
(a) 6.25 percent
(b) 6.50 percent
(c) 6.75 percent
(d) 6.0 percent
Answer: (d)
Related Facts:

  • On February 7th, 2018, Governor of Reserve Bank of India, Dr. Urjit Patel and Monetary Policy Committee (MPC) released sixth bi-monthly monetary policy statement, 2017-18.
  • Reserve Bank of India has kept policy rates, reserve cash ratio, net demand and periodic liabilities unchanged in the sixth bi-monthly monetary policy statement.
  • Policy repo rate under the liquidity adjustment facility (LAF) kept unchanged at 6.0 per cent.
  • Earlier, on December 6th, 2017, the fifth bi-monthly policy had been issued, in which policy rates were kept unchanged.
  • It is known that in the third bi-monetary policy statement, 2017-18 issued on August 2nd, 2017 the RBI had reduced the policy repo rate from 6.25 percent to 6.0 percent by decreasing basis points by 25.
  • The Statutory Liquidity Ratio (SLR) of scheduled commercial banks is kept unchanged at 19.50 percent.
  • Keeping the Cash Reserve Ratio (CRR) of scheduled commercial banks unchanged, it retained 4 percent of Net Demand and Time Liabilities (NDTL).
  • As a result, the Reverse Repo Rate under the liquidity adjustment facility is 5.75 and the Marginal Standing Facility Rate (MSF) and Bank Rate is 6.25 percent.
  • The real gross value added (GVA) growth as per the first advance estimates (FAE) released by the Central Statistics Office (CSO) is estimated to decelerate to 6.1 per cent in 2017-18 from 7.1 per cent in 2016-17.
  • Turning to the growth outlook, GVA growth for 2017-18 is projected at 6.6 per cent.

Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43078

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