Argutes

Monthly current affairs summary – September 2020

Current affairs play a vital role in UPSC civil service exam preparation. The daily current affairs from the daily news’ are one of this important area. This section gives you a very brief summary of the important topics to be covered. You may use this section for revising your preparation. Nevertheless, we recommend you visit our daily current affairs section that gives a comprehensive analysis of the topics needed to be studied for the UPSC civil service exam.

Current affairs summary – 30 September 2020

Harijan Sevak Sangh – Foundation day celebration.

In News:

Harijan Sevak Sangh was founded on September 30, 1932. Harijan Sevak Sangh celebrates its foundation day today.

Topics:

Harijan Sevak Sangh:
  • Harijan Sevak Sangh was founded by Mahatma Gandhi in 1932.
  • It is also called as All India Anti-Untouchability League.

Current affairs summary – 29 September 2020

RBI postpones MPC meeting

In News:

The Reserve Bank of India has postponed the MPC meeting as the tenure of three external members of MPC is ending before the policy meeting day.

Topics:

MPC:
  • The Monetary Policy Committee (MPC) is a committee of the Reserve Bank of India, headed by the RBI Governor, which is entrusted with the task of fixing the benchmark policy interest rate (repo rate) to contain inflation within the specified target level.
  • Monetary Policy Committee will have six members:
    • the RBI Governor (Chairperson),
    • the RBI Deputy Governor in charge of monetary policy,
    • one official nominated by the RBI Board and
    • the remaining three members would represent the Government of India.

Current affairs summary – 28 September 2020

JIMEX 2020

In News:

The fourth edition of the India-Japan Maritime Bilateral exercise is being conducted in the North Arabian Sea from 26th September to 28th September.

Topics

JIMEX
  • India and Japan are conducting Naval Exercise called JIMEX.
  • It is conducted biennially between the Indian Navy and the Japanese Maritime Self-Defense Force (JMSDF).

Current affairs summary – 26 September 2020

CWMA  meeting on September 25th, 2020

In News:

There were heated discussions of the Mekadatu dam Project in CWMA meet on 25th Sep 2020 between Karnataka and Tamilnadu.

Topics:

Cauvery Water Disputes Tribunal:
  • Central Government, in the exercise of the powers conferred by section 4 of the Inter-State River Water Disputes Act, 1956 (33 of 1956) had constituted the Cauvery Water Disputes Tribunal to adjudicate upon the water dispute regarding the Inter-State river Cauvery and the river valley thereof among the States of Karnataka, Kerala, Tamil Nadu and Union territory of Puducherry.
Cauvery Water Management Authority:
  • In exercise of the powers conferred by section 6A of the said Act, the Central Government notified the Cauvery Water Management Scheme on 01st June 2018, inter alia, constituting the ‘Cauvery Water Management Authority’ and the ‘Cauvery Water Regulation Committee’ to give effect to the decision of the Cauvery Water Disputes Tribunal as modified by the Hon’ble Supreme Court vide its Order, dated 16th February 2018.
  • CWMA consists of 2 full-time, 2 part-time, and 4 members from the States of  Kerala, Karnataka, Tamil Nadu, and Union Territory of Puducherry
Functions of CWMA:
  • The Authority shall exercise such power and shall discharge such duty to do any or all things necessary, sufficient and expedient for securing compliance and implementation of the Award of the Tribunal as modified by the Hon’ble Supreme Court vide Order dated the 16th February 2018 including:
    • (i) storage, apportionment, regulation, and control of Cauvery waters;
    • (ii) supervision of the operation of reservoirs and with the regulation of water releases therefrom with the assistance of Regulation Committee;
    • (iii) regulated release by Karnataka, at the inter-State contact point presently identified as Billigundulu gauge and discharge station, located on the common border of Karnataka and Tamil Nadu.

Current affairs summary – 25 September 2020

IBC pause extended for three more months

In News

The Central government has suspended the operation of the Insolvency and Bankruptcy Code, 2016 (IBC) by another three months in order to protect companies in distress due to the COVID pandemic.

Topics

IBC
  • Insolvency and Bankruptcy Code is an Act to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms, and individuals in a time-bound manner.
  • Adjudicating authority for LLPs and companies: National Company Law Tribunal
  • Adjudicating Authority for Individuals and Partnership firms: Debt Recovery Tribunal
  • The corporate insolvency resolution process shall mandatorily be completed within a period of three hundred and thirty days(330 days) from the insolvency commencement date

Current affairs summary – 24 September 2020

G4 calls for reforms in UNSC

In News

G4 countries met virtually on September 23, 2020, and called for reforms in UN Security Council(UNSC) in a time-bound manner.

Topics

G4
  • India
  • Brazil
  • Japan
  • Germany

are the G4 countries.

UNSC:

5 permanent + 10 non-permanent members in UNSC

5 permanent members of UNSC
  • China
  • France
  • Russia
  • the United Kingdom and
  • the United States.

India has been elected as a non-permanent member from 2021 for a two-year term

Current affairs summary – 23 September 2020

Lok Sabha passes labour bills

In News:

The Lok Sabha passed three bills on the labour code. The new legislations are Occupational Safety, Health And Working Conditions Code, 2020, the Industrial Relations Code, 2020, and the Code On Social Security, 2020.

Topics:

  • The Occupational Safety, Health And Working Conditions Code, 2020 will consolidate and amend the laws regulating the occupational safety, health, and working conditions of the persons employed in an establishment and related matters.
  • The Industrial Relations Code, 2020 seeks to consolidate and amend the laws relating to Trade Unions, conditions of employment in industrial establishment or undertaking, investigation, and settlement of industrial disputes.
  • The Code On Social Security, 2020 will amend and consolidate the laws relating to social security with the goal to extend social security to all employees and workers either in the organized or unorganized sectors.

Current affairs summary – 22 September 2020

FCRA Amendment Bill 2020

In News:

The Lok Sabha passed the Foreign Contribution Regulation (Amendment) Bill 2020 (FCRA) by a voice vote on 21st September 2020.

Topics

FCRA:
  • FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto.
  • FCRA comes under the purview of the Ministry of Home Affairs.
FCRA Amendment Bill Highlights:
  • FCRA Amendment Bill seeks to make providing the Aadhar numbers of the office-bearers of any NGO mandatory for registration.
  • Public servants will be barred from receiving funds from abroad.

Current affairs summary – 21 September 2020

MSP

In News:

There were a lot of mentions about MSP last few days in the news.

Topics:

MSP
  • MSP is the Minimum Price at which the Government will buy the produce from farmers.
  • It is a form of market intervention by the Government of India to save agricultural producers from a sharp fall in farm prices.
  • Cabinet Committee on Economic Affairs announces MSP

 

Current affairs summary – 19 September 2020

1. E-Way Bill generation in August tops.

In News

E- Way Bill generation in August topped and valued at over ₹13.85 lakh crore. Approximately more than 4.37 crore e-way bills were generated by businesses and transporters in August.

Topics

E-Way Bill:
  • Electronic way, or e-way bills, are required for inter-State movement of goods worth over ₹50,000.
  • For the intra-State movement, the limits vary from State to State.
  • E-Way Bill is one of the projects of the Goods and Services Tax Network(GSTN)

2. VAIBHAV summit

In News:

VAIBHAV summit will be held online and will be inaugurated by Hon’ble Prime Minister of India on October 2.

Topics:

VAIBHAV summit
  • Vaishwik Bharatiya Vaigyanik (VAIBHAV) Summit is a collaborative initiative by S&T and Academic Organisations of India to enable deliberations on thought processes, practices, and R&D culture with a problem-solving approach for well-defined objectives.
  • The VAIBHAV initiative aims to bring out the comprehensive roadmap to leverage the expertise and knowledge of global Indian researchers for solving emerging challenges.
  • By bringing the Indian Overseas and Resident academicians/scientists together a structure of association will be evolved.

Current affairs summary – 18 September 2020

1. SAARC Video conference meeting on Sep 24

In News

Hon’ble External Affairs Minister of India Shri. Jaishankar will be attending the SAARC video conference meeting on September 24. All member countries including Pakistan is expected to join the video conference meeting.

Topics

SAARC:

SAARC:
  • The South Asian Association for Regional Cooperation was founded in 1985.
  • It is dedicated to improving the welfare of South Asia through economic growth, social progress, and cultural development in the region.
  • Members of SAARC are
    • Afghanistan
    • Bangladesh
    • Bhutan
    • India
    • Nepal
    • Maldives
    • Pakistan
    • Sri Lanka

2. US keen to make India sign BECA

In News

The next U.S.- India 2+2 ministerial dialogue is likely to be held in October end and at that event, the US is keen that  India signs the last foundational agreement BECA.

Topics

India-US Foundational Agreements:
  • India has already signed three of four foundational agreements with the U.S.  till date namely:
    • Logistics Exchange Memorandum of Agreement(LEMOA)
    • the Communications Compatibility and Security Agreement (COMCASA)
    • the General Security of Military Information Agreement (GSOMIA)
  • India has still not signed the Basic Exchange and Cooperation Agreement (BECA) for Geo-Spatial Cooperation with the US.

Current affairs summary – 17 September 2020

1. The Trade Deficit with China fell to $5.48 billion

In News

India’s Trade Deficit with China fell to $5.48 billion during April-June this fiscal year when compared to the Trade deficit of $13.1 billion last year.

Topics

Trade Deficit:
  • A trade deficit occurs when a country’s imports are exceeding its exports during a given time period.
  • It is also referred to as a negative balance of trade (BOT).
Balance of Trade:
  • Balance of trade (BOT) is the difference between the value of a country’s imports and exports for a given period.

2. Lok Sabha passes Banking Regulation(Amendment) Bill, 2020

In News

Lok Sabha passed the Banking Regulation (Amendment) Bill, 2020 on September 16, 2020. This Bill replaces the Banking Regulation (Amendment) Ordinance which was promulgated on 26th June 2020.

Topics

Banking Regulation (Amendment) Bill 2020:
  • The Bill aims to bring cooperative banks under the direct supervision of RBI.
  • The bill also allows the Reserve Bank of India (RBI) to make a scheme for reconstruction or amalgamation of co-operative banks to secure its proper management, and in the interest of depositors.

3. Russia’s Sputnik V vaccine to India-pact inked

In News

Russia Direct Investment Fund(RDIF) has partnered with India’s Dr.Reddy Laboratories to test and supply the Sputnik V vaccines to India subject to the regulatory approvals in India.

Topics

Sputnik V
  • Sputnik V is the first registered COVID-19 vaccine in the world.
  • Sputnik V has been developed by the Gamaleya National Research Institute of Epidemiology and Microbiology, Russia.

Current affairs summary – 16 September 2020

1. ADB predicts the Indian economy to shrink by 9%

In News

Asian Development Bank has projected that the Indian economy would contract by 9% in this Financial year 2020-2021.

ADB

  • Asian Development Bank was established in the year 1966.
  • ADB provides loans, grants, technical assistance to its members to promote social and economic development.
  • Headquarters: Manila, Philippines.
  • India is a founding member of ADB from 1966. 

2. Lok Sabha passes the Essential Commodities Amendment bill

In News

Lok Sabha passed the Essential Commodities (Amendment) Bill, 2020 on September 5, 2020.

Topics

Essential Commodities Act:

The Essential Commodities Act, 1955 (10 of 1955) was enacted to regulate the production, supply, and distribution of, and trade and commerce in, certain commodities which are declared as essential commodities and specified in the Schedule to that Act.

Amendment highlights:

Supply of certain food items including cereals, pulses, potato, onions, edible oilseeds, and oils, can be regulated by the government under extraordinary circumstances as per the provisions of this bill.  The extraordinary circumstances include war, famine, extraordinary price rise, and natural calamity of grave nature.

The stock limit can be imposed only if there is—
(i) 100% increase in the retail price of horticultural produce; or
(ii) 50% increase in the retail price of non-perishable agricultural foodstuffs.

Current affairs summary – 15 September 2020

1. Telecom Regulatory Authority of India

In News:

Telecom Regulatory Authority of India in its recommendation on the ‘Regulatory Framework for OTT Communication Services’ said that a regulatory framework set-up is not needed as of now to regulate the various aspects of OTT(Over-The-Top) services like Whatsapp, Hike, Skype, etc.

Topics

TRAI
  • The Telecom Regulatory Authority of India (TRAI) was established with effect from 20th February 1997 by an Act of Parliament, called the Telecom Regulatory Authority of India Act, 1997, to regulate telecom services, including fixation/revision of tariffs for telecom services which were earlier vested in the Central Government.
  • TRAI is a statutory body.
TDSAT:
  • The TRAI Act was amended by an ordinance, effective from 24 January 2000, establishing a Telecommunications Dispute Settlement and Appellate Tribunal (TDSAT) to take over the adjudicatory and disputes functions from TRAI.
  • TDSAT was set up to adjudicate any dispute between a licensor and a licensee, between two or more service providers, between a service provider and a group of consumers, and to hear and dispose of appeals against any direction, decision, or order of TRAI.

Current affairs summary – 14 September 2020

1. Status Quo on LAC

In News:

Status Quo on Line of Actual Control(LAC) in Eastern Ladakh has been ensured after Hon’ble External Affairs Minister Shri. Jaishankar and his Chinese counterpart Wang Yi met in Moscow on September 10.

Topics:

Line of Actual Control(LAC)
  • Line of Actual Control(LAC) is a clear demarcation between Indian and Chinese controlled areas
  • It is divided into three sectors
    • Eastern sector: Arunachal Pradesh and Sikkim
    • Middle Sector: Uttarakhand and Himachal Pradesh
    • Western Sector: Ladakh
Pangong Tso Lake:
  • Pangong Tso Lake is in Ladakh.
  • Pangong Lake, situated at a height of almost 4,350m, is the world’s highest saltwater lake.

Current affairs summary – 13 September 2020

Singapore Convention on Mediation enters into force

In News:

The Singapore Convention on Mediation (Convention) entered into force on September 12, 2020, marking a significant development in international commercial dispute resolution.

Topics

Singapore Convention on Mediation
  • Singapore Convention on Mediation is also known as the United Nations (UN) Convention on International Settlement Agreements Resulting from Mediation and is the first UN treaty to be named after Singapore.
  • As of 1 September 2020, the Convention has 53 signatories, including the United States, China, and India.

Deep Vein Thrombosis

In News

A team from Sree Chitra Tirunal Institute for Medical Sciences and Technology, Trivandrum (SCTIMST), an autonomous institute of the Department of Science and Technology, has developed a device for the prevention of Deep Vein Thrombosis at a rate considerably cheaper than the currently imported devices.

Topics

Deep Vein Thrombosis
  • Deep vein thrombosis (DVT) is a blood clot that occurs in a deep vein; that is, a vein that is not on the surface of the skin.
  • DVT can occur anywhere but is most often seen in the leg.
New indigenous device for prevention of blood clot in Deep Vein:
  • The newly developed device works by compressing the veins in the legs in sequence so that the flow of blood from the veins in the legs is facilitated.
  • It is equipped with closed-loop monitoring of compression pressure and also has controls through valves which are driven by an electronic circuit.
  • Dedicated software and a control circuit are provided in the device to ensure that safe compression levels are always maintained and device functions in six modes.

Current affairs summary – 12 September 2020

1. Index of Industrial Production shrinks

In News:

Index of Industrial Production(IIP) contracted 10.4% in July 2020 as the economic recovery is slow although this contraction is significantly better than the contraction seen during the April month.

Topics:

IIP:
  • Index of Industrial Production is an index that tracks manufacturing activity in various sectors of the economy.
  • The three broad sectors of IIP:
    • Mining,
    • Manufacturing,
    • Electricity
  • IIP data is compiled and released monthly by the Central Statistical Organisation, Ministry of Statistics and Programme Implementation.

2. Mandatory fees for forest use

In News:

The Secretary of the Environment Ministry has refused to grant an exemption to the Mines Ministry request as NPV is a Supreme Court-mandated fee.

Topics:

NPV:
  • The Net Present Value (NPV) is a value to compensate, in money terms, for the loss of tangible as well as intangible benefits flowing from the forest lands due to its diversion to a non-forest use.
  • The new user of the forest land is expected to bear the cost of these losses by the payment of NPV and the Hon’ble Supreme Court has mandated that NPV must be paid by those who use forest land for non-forestry purposes.

Current affairs summary – 11 September 2020

1. FCRA Registration to Golden Temple, Amritsar

In News:

The Ministry of Home Affairs has granted Foreign Contribution Regulation Act(FCRA) registration to Gurudwara Harmandir Sahib which is also famously known as the Golden Temple, Amritsar.

Topics:

FCRA:
  • FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto.
  • FCRA comes under the purview of the Ministry of Home Affairs.

2. India and Japan sign logistics agreement

In News:

India and Japan signed an Agreement between the two countries concerning the Reciprocal Provision of Supplies and Services between the Armed Forces of India and The Self-Defense Forces of Japan

Topics:

Significance of India-Japan Logistics agreement:
  • This agreement establishes the enabling framework for closer cooperation between the Armed Forces of India and Japan in the reciprocal provision of supplies and services while engaged in bilateral training activities, United Nations Peacekeeping Operations, Humanitarian International Relief and other mutually agreed activities.
  • The agreement will also enhance the interoperability between the Armed Force of India and Japan.

Current affairs summary – 10 September 2020

1. GM Cotton and GEAC

In News:

Genetically Modified(GM) cotton is being cultivated in India but it has brought only modest benefits and there are discrepancies between yield and the deployment of Bt-Cotton.

Topics:

GM Cotton:
  • Genetically modified (GM) cotton is a plant containing the pesticide gene from the bacteria Bacillus thuringiensis (Bt).
  • Bt. cotton is the only GM crop approved by the Genetic Engineering Appraisal Committee (GEAC) in 2002 for commercial cultivation in India.
GEAC:
  • The Genetic Engineering Appraisal Committee (GEAC) functions in the Ministry of Environment, Forest, and Climate Change (MoEF&CC).
  • The committee is also responsible for the appraisal of proposals relating to the release of genetically engineered (GE) organisms and products into the environment including experimental field trials.

Current affairs summary – 09 September 2020

1. Health in India’ report of the National Statistical Organization.

In News:

As per the ‘Health in India’ report released by the National Statistical Organisation, 2 out of 5 children in India do not complete their immunization program although they are vaccinated against tuberculosis and receive their birth dose of polio vaccine.

Topics:

Mission Indradhanush:
  • The ultimate goal of Mission Indradhanush is to ensure full immunization with all available vaccines for children up to two years of age and pregnant women.
Intensified Mission Indradhanush 2.0:
  • To boost the routine immunization coverage in the country, the Government of India has introduced Intensified Mission Indradhanush 2.0 to ensure reaching the unreached with all available vaccines and accelerate the coverage of children and pregnant women in the identified districts and blocks from December 2019-March 2020.

Current affairs summary – 07 September 2020

FCRA

In News

Not relevant to the exam. It is Political news.

Topics:

FCRA:
  • Foreign Contribution Regulation Act, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto.
  • FCRA comes under the purview of the Ministry of Home Affairs.

Current affairs summary – 06 September 2020

1.SPICe+

In News

Public notice/advertisement

Topics

SPICe+:
  • SPICe+ is an integrated Web form offering 10 services by 3 Central Govt Ministries & Departments. (Ministry of Corporate Affairs, Ministry of Labour & Department of Revenue in the Ministry of Finance) and One State Government (Maharashtra), thereby saving as many procedures, time, and cost for Starting a Business in India.
  • SPICe+ is part of various initiatives and commitments of the Government of India towards Ease of Doing Business (EODB) and SPICe+ has two parts.

GST Compensation to States

In News

THE 41st GST Council meeting was held recently and the main focus of the meeting was to devise a solution for the compensation to be made to the states as part of the implementation of the GST.

Topics

GST:(Goods and Services Tax)
  • GST was introduced by the 101st Amendment act 2016
  • Removal of all indirect taxes took place and a single indirect tax GST was introduced.
GST Compensation:
  • As per the 101st Amendment Act 2016, “Parliament shall, by law, on the recommendation of the Goods and Services Tax Council, provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five years.” Here five years refer from 2017-2022.

Current affairs summary – 05 September 2020

1. RBI releases revised Priority Sector Lending guidelines.

In News

Reserve Bank of India has reviewed the Priority Sector Lending (PSL) Guidelines to align it with emerging national priorities and bring a sharper focus on inclusive development

Topics

Priority Sector Lending:
  • Priority Sector includes the following categories:
      • (i) Agriculture
      • (ii) Micro, Small and Medium Enterprises
      • (iii) Export Credit
      • (iv) Education
      • (v) Housing
      • (vi) Social Infrastructure
      • (vii) Renewable Energy
      • (viii) Others
  • Bank finance to start-ups (up to ₹50 crores); loans to farmers for installation of solar power plants for solarisation of grid-connected agriculture pumps and loans for setting up Compressed Bio-Gas (CBG) plants have been included as fresh categories eligible for finance under priority sector.
  • This move will help in easier access to credit.

Current affairs summary – 04 September 2020

1. EESL to procure electric vehicles from Tata and Hyundai

In News:

Energy Efficiency Services Limited will be procuring 250 electric vehicles from Tata Motor and Hyundai Motor India which will reduce the dependence on oil imports and promote power capacity addition in India as part of the National e-Mobility Programme.

Topics:

EESL:
  • Energy Efficiency Services Limited (EESL) is a Super Energy Service Company (ESCO), which enables consumers, industries, and governments to effectively manage their energy needs through energy-efficient technologies.
  • EESL is promoted by the Ministry of Power, Government of India as a Joint Venture of four reputed public- sector undertakings NTPC Limited, Power Finance Corporation Limited, REC Limited, and POWERGRID Corporation of India Limited.
National e- Mobility Programme:
  • The objective of the National e-Mobility program is to provide an impetus for Indian vehicle manufacturers, charging infrastructure companies, fleet operators, service providers, etc. to gain efficiencies of scale and drive down costs, create local manufacturing facilities, grow technical competencies for the long-term growth of the electric vehicle (EV) industry in India and to enable Indian EV manufacturers to emerge as major global players.

Current affairs summary – 03 September 2020

Cap on MEIS benefits.

In News:

A maximum limit of Rs.2 crore has been imposed on total rewards under the Merchandise Exports from India Scheme (MEIS).

Topics:
Merchandise Exports from India Scheme (MEIS) Scheme:
  • Merchandise Exports from India Scheme(MEIS) is a scheme designed to provide rewards to exporters to offset infrastructural inefficiencies and associated costs.
  • The objective of the Merchandise Exports from India Scheme (MEIS) is to promote the manufacture and export of notified goods/ products.

Mission Karmayogi to train Govt. Officials.

In News:

The Union Cabinet has approved “Mission Karmayogi”- National Programme for Civil Services Capacity Building (NPCSCB), a new national capacity-building and performance evaluation program for civil servants.

Topics
Mission Karmayogi
  • Mission Karmayogi aims to prepare the Indian Civil Servant for the future by making him more creative, constructive, imaginative, innovative, proactive, professional, progressive, energetic, enabling, transparent, and technology-enabled.
  • The Programme will be delivered by setting up an Integrated Government Online Training-iGOTKarmayogi Platform.

Current affairs summary – 02 September 2020

1. India and Russia to conduct naval drills.

In News

India and Russia will be holding the Bilateral Naval Exercise in the Andaman Sea this week.

Topics:

Indra 2020:

  • Indra 2020 is the bilateral naval exercise conducted between India and Russia.
  • This year(2020), Indra will be conducted in the Andaman Sea close to the strategic Malacca Strait

Current affairs summary – 01 September 2020

1.GDP shrinks by a record of 23.9% in April-June Quarter.

In News
  • The Indian economy saw its worst contraction in the last 40 years with GDP shrinking by a record of 23.9% in the April to June quarter due to the COVID-19 pandemic.
  • Modest growth of 3.4% in year-on-year terms was recorded only in the Agriculture sector
Topics:

GDP:

  • Gross Domestic Product is the total value of all finished goods and services produced within a country during a specific period
GVA:
  • Gross Value Added = Value of output –value of intermediate consumption
  • GVA is a measure of contribution to GDP by a producer, industry or sector
  • GVA= rupee value of goods and services – the cost of inputs and raw materials.

2. RBI aims to ease liquidity further

In News
  • RBI has said that it would conduct additional special Open Mark Operations(OMO)s involving the simultaneous purchase and sale of Government securities
  • It will be for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each to ease liquidity and ensure orderly market conditions
  • RBI has said that it would conduct Repo operations for Rs. 1 lakh crore to help banks cut costs.
Topics

Open Market Operations:

  • The RBI manages the liquidity conditions, rupee strength through a tool called Open Market Operations(OMO).
  • OMO is nothing but the sale and purchase of Government Securities.
  • If the liquidity conditions are tight, RBI will purchase Government Securities. This will release liquidity into the market.
  • If there is excess liquidity in the market, then RBI will sell Government Securities. This will suck out the rupee liquidity.

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