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Sharad Yadav and Ali Anwar
Getting back on track GDP numbers are good but for growth to pick up further, we need to push private investment GDP has grown at 6.3% year on year compared to 5.7% in the first quarter Signs of revival? Can we expect a further rise in the growth rate in the rest of the year? We need to look at sectoral growth rates. The most encouraging sign is the performance of the manufacturing sector which grew at 7% against 1.2% in the previous quarter. Previous year, the growth rate was 7.7%. It appears that the manufacturing sector has come out of the disruptions caused by demonetisation + implementation of the GST. Public administration grew at 6%, much lower than the previous quarters but still reasonably high Electricity sector has done well with a growth rate of 7.6% compared to 7.0% in Q1 Growth rate in agriculture was low at 1.7% Construction sector grew at 2.6% only.
Continue Discouraging signals Most discouraging sign is the behaviour of the Gross Fixed Capital Formation (GFCF). Ratio of GFCF to GDP has fallen from 27.1% to 26.4%. Due to a decline in private investment Without a rise in the private investment rate, sustained high growth cannot be maintained. Government has set up the National Statistical Commission to give credibility to the Indian Statistical System The road ahead Glitches caused by GST have been overcome. Another factor of growth is exports- India s export performance has picked up in current year For growth to pick up in a strong way, policymakers need to address the issue of 1)-Declining investment rate. 2)-As pointed out already, GFCF ratio has fallen to 26.4%- 2014 15, the GFCF rate was 30.8% Push up private investment, even as the pace of public capital expenditures, which have shown a pick up recently, is maintained.
Q- One of the major growth hurdles of Indian economy has been subdued private investment. Explain (150 words)
Underwater reinforcements 50th anniversary of the Navy s submarine arm Sunil Lanba provided the appropriate context for the 50th anniversary of the Indian Navy s su bmarine arm, which falls on December 8 Detailed an ambitious acquisition plan for the Indian Navy that includes six diesel electric Scorpene class submarines; three SSBNs (nuclear propelled submarines equipped with a nuclear tipped ballistic missile) to follow INS Arihant; and six SSNs (nuclear propelled submarines) used in an attack role India acquired its rst submarine, the INS Kalvari, on December 8, 1967, six years after the Navy acquired its first aircraft carrier in 1961. In the intervening decades, the nation and its Navy have graduated to designing and indigenously building SSBNs the INS Arihant For the record, India is the first country in the world to move straight to designing and building an SSBN, without moving up the scale from conventional boats and then SSNs.
On taxing maintenance money Maintenance money paid by parents for the welfare of their minor child be exempted from income tax? How to curb black money in welfare funds for minors Law Commission of India after the Punjab and Haryana High Court found that it is desirable that Section 64 (1A) of the Income Tax Act of 1961 be amended to exempt the interest accrued on maintenance money an estranged parent pays for his or her minor child. Payal Mehta v. Sanjay Sarin (2016) was that interest on the amount of maintenance money deposited in the name of a minor child by the parent should not be subjected to tax. Such income should not be clubbed with the income of either of the parent for the purpose of imposing tax. High Court insisted that such an exemption should be created. Minor in whose name some business- Law Commission 1)-Such an order does not give any right to either of the child s parents under any statute. 2)-Second, of the amount of maintenance are of a temporary nature. 3)-Third Such an exemption would open the flood gates to evasion of tax.
Map Practice
Prelims Focus Facts-News Analysis Page-1-Aadhaar link deadline for subsidies to be March 31 Government intends to issue a notification on Friday extending the deadline for mandatory Aadhaar linking from December 31, 2017, to March 31, 2018, AttorneyGeneral of India K.K. Venugopal submitted before the Supreme Court extension would include 139 government subsidies, bene ts or services, which are funded out of the Consolidated Fund of India as per Section 7 of the Aadhaar Act of 2016. Constitution Bench will hear pleas against identity scheme next week
Prelims Focus Facts-News Analysis Page-1- Ministers not under RTI: Delhi High Court Court overturns CIC verdict, says direction issued by panel outside its scope Delhi High Court has set aside the Central Information Commission order declaring Ministers as public authorities and answerable under the Right to Information law Directions issued by the CIC are also wholly outside the scope of the matter before the CIC Army UAV crashes in Chinese territory An unmanned aerial vehicle (UAV) of the Army that crashed into the Chinese side of the border was on a regular training mission and lost contact with ground control due to technical problem, the Defence Ministry said here in a statement
Prelims Focus Facts-News Analysis Page-7- A woman doesn t mortgage herself to a man with marriage, asserts CJI Retains religious identity even if she marries outside her community A woman does not mortgage herself to a man by marrying him, and she retains her identity, including her religious identity, even after she exercises her right to marry outside her community under the Special Marriage Act, Chief Justice of India Dipak Misra The 1954 Act is seen as a statutory alternative for couples who choose to retain their identity in an inter religious marriage. Special Marriage Act confers on her the right of choice. Her choice is sacred. I ask myself a question: Who can take away the religious identity of a woman? The answer is only a woman can choose to curtail her own identity, said Chief Justice Misra, heading a five judge Constitution Bench.
Prelims Focus Facts-News Analysis Page-9-
Prelims Focus Facts-News Analysis Page-11- UNESCO names Kumbh Mela Intangible Cultural Heritage After yoga and Nouroz, Kumbh Mela/ KumbhMela, the largest congregation(म डल ) of pilgrims on the planet, has been listed as an Intangible(अम र त) Cultural Heritage under UNESCO (United Nations Educational, Scientifi c and Cultural Organisation)
Prelims Focus Facts-News Analysis Page-18- Neapolitan pizza twirling wins UNESCO honour Neapolitan pizza is a Traditional Speciality Guaranteed (TSG) product in Europe, the art of its making is included on UNESCO's list of intangible cultural heritage.
Prelims Focus Facts-News Analysis No change in our policy on Palestine, says India India has traditionally supported an independent Palestine as part of a two state solution. Australia legalises same sex unions Gay couples will be able to legally marry in Australia after a same sex marriage Bill sailed through Parliament Nepal polls record 67% turnout in phase 2 65% voters had exercised their franchise on November 26. No court stay on linking Aadhaar to services: UIDAI The deadline for Aadhaar linkage for bank accounts, is currently Dec. 31, 2017
Last Day- Q s- Answers The 42 nd Amendment Act of 1976 transferred 5 subjects to Concurrent List from State List. Education Forest Weight & Measures Protection of Wild animals & birds Administration of Justice; Constitution & Organisation of all Courts except the Supreme Court & High Court. Company Country Samsung - South Korea Xiaomi - China Oppo- China The "two nation theory" concept was given by "Md. Ali Jinnah" from Pakistan.
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