सामयिक विषय: Economics

Revised cost estimates of the scheme of updation of National Register of Citizens, 1951 in Assam

Question- Recently, on 4th April 2018 The Cabinet Committee on Economic Affairs has approved the Revised Cost Estimates (RCE) of the scheme of Updation of National Register of Citizens (NRC), 1951. This plan is for which of the following states?
(a) Manipur
(b) Assam
(c) Mizoram
(d) Odisha
Answer: (b) 
Related Facts: 

  • On 4th April 2018 The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has approved the Revised Cost Estimates (RCE) of the scheme of Updation of National Register of Citizens (NRC), 1951 in Assam at a cost of Rs. 1220.93 crore upto 31.12.2018.
  • The scheme of NRC, 1951 is specific to state of Assam covering about 3.29 crore applicants.
  • The exercise will help in preparation of National Register of Citizens in Assam.  31stDecember, 2018 is the proposed date for publication final NRC.
  • A part Draft National Register of Citizens (NRC), Assam covering 1.90 crore persons out of 3.29 crore applicants has been published on 31st December, 2017 including names of those applicants in respect of whom the entire process of verification has been completed.
  • The preparation of NRC is the most extensive citizen engaging exercise, which touches the life of every resident of Assam.
  • It is part of the action for the fulfillment of Assam Accord and understanding arrived in a tripartite meeting held in 2005 at the level of Prime Minister.
  • The National Register of Citizens, Assam will contain the names of genuine Indian citizens and will help the government to check illegal immigration in India.

Reference:             
http://pib.gov.in/PressReleseDetail.aspx?PRID=1527702

Monthly Pension for Organic Farmers

Question: In which of the following states government recently announced the monthly pension to farmers who are indulged in organic farming?
(a) Chhattisgarh
(b) Manipur
(c) Sikkim
(d) Nagaland
Answer: (c) 
Related Facts:

  • On 3rd April, 2018, Sikkim Chief Minister Pawan Kumar Chamling announced the monthly pension to farmers who are engaged in organic farming in the state.
  • Farmers involved in organic cultivation farming will get a monthly pension of Rs 1000 by the state government.
  • State Government has already restricted the sale and consumption of non-organic agricultural and horticultural products of cereals, vegetables, spices and fruits in the state.
  • Sikkim is the first organic state of the country.
  • Organic farming is the method of agriculture that is based on experimentation or minimal experiment without synthetic fertilizers and synthetic pesticides.
  • This crop is used to save the fertility of the land, crop circle, green manure, compost manure etc.

Reference:                
http://www.business-standard.com/article/pti-stories/chamling-announces-monthly-pension-for-organic-farmers-118040300984_1.html

First Bi-monthly Monetary Policy Statement, 2018-19

Question: On April 5th, 2018, the Monetary Policy Committee (MPC), headed by the Reserve Bank of India Governor Urgit Patel, released the ‘First Bi-Monthly Monetary Policy Statement 2018-19’.  On the whole, GDP growth is projected to strengthen from 6.6 per cent in 2017-18 to what per cent in 2018-19?
(a) 6.6 percent
(b) 7.2 percent
(c) 7.4 percent
(d) 6.9 percent
Answer: (c) 
Related Fact: 

  • On April 5th, 2018, the Monetary Policy Committee (MPC), headed by the Reserve Bank of India Governor Urgit Patel, released the ‘First Bi-Monthly Monetary Policy Statement 2018-19’.
  • Reserve Bank of India has kept policy rates, reserve cash ratio, net demand and periodic liabilities unchanged in the first bi-monthly monetary policy.
  • Committee (MPC) has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.
  • Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
  • Keeping the cash reserve ratio (CRR: Cash Reserve Ratio) of scheduled commercial banks unchanged, it was retained at 4 percent of net demand and dead liabilities (NDTL: Net Demand and Time Liabilities).
  • The statutory liquidity ratio (SLR: Statutary Liquidity by Ratio) of scheduled commercial banks is kept unchanged at 19.50 percent.
  • Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
  • On the whole, GDP growth is projected to strengthen from 6.6 per cent in 2017-18 to 7.4 per cent in 2018-19.

Reference:             
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43573

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