Current Affairs : January 30-31, 2012

India’s Per Capita Income: Rs 53,331 per annum

• The latest Quick Estimates of National Income released by the Central Statistical Office (CSO) show that India’s per capita income grew by 15.6 per cent to Rs 53,331 per annum in 2010-11, crossing the half-a-lakh rupees mark for the first time. Last year, the income was Rs. 46,117 per annum.
• Per capita income is the earnings of each Indian if the national income is evenly divided among the country’s population of around 120 crore. The Per Capita Income is an important indicator of overall prosperity in the country.
• The above figures is on current prices. The increase in per capita income at constant 2004-05 prices, after discounting for inflation, was about 6.4 per cent in 2010-11. It was 35,993 rupees in 2010-11, as against 33,843 rupees in the previous year.

Kaushik Basu presents outlook for the economy in 2012-13

• Chief Economic Advisor, Kaushik Basu presents the outlook for the economy in 2012-13.
• He expressed the hope that the inflation rate will come down soon to below 7 per cent & expected that this will help in accelerating the growth rate faster than the current year.
• Growth achieved during the first half of the current year, was 7.3 per cent. There was a sharp improvement in industrial performance in November last year and overall growth bounced back to 5.9 per cent.

Test Flight of ‘Lakshya’ Successful

• Indigenously developed micro-light and pilot-less target aircraft ‘Lakshya’ successfully test flown from the Integrated Test Range (ITR) at Chandipur in Balasore district of Odisha
• The objective of the latest test flight was to check the validity of its engine and duration enhancement.
• Lakshya is a sub-sonic, re-usable aerial target system remote controlled from the ground and designed to impart training to both air borne and air defence pilots. The aircraft has been developed by India’s Aeronautic Development Establishment (ADE), Bangalore to perform discreet aerial reconnaissance of battle-field and target acquisition. Lakshya has already been inducted into the Indian Air Force since 2000. Lakshya-II pilot-less target aircraft was successfully test flown from the same base on the 25th and 27th of this month.

Sports Ministry releases Rs. 8 Crore for Medal Hopefuls in London Olympics

• The Union Sports Ministry sanctions Rs 8 crore for imparting customized training to elite sportspersons who are medal prospects in the forthcoming London Olympics- 2012 and other international events.
• Fund has been sanctioned from National Sports Development Fund, NSDF, to 45 sportspersons and 12 coaches under the Operation Excellence 2012.

India’s Economic growth revised down to 8.4%

• Ministry of Statistics and Programme Implementation releases the Quick Estimates of economic growth. As per these latest estimates, India’s economic growth rate is slated to be 8.4% for 2010-11 financial year, slightly down to 8.4 per cent from the earlier estimate of 8.5 per cent.
• Major source of growth in the GDP has been from the services sector, which has grown at the rate of 9.3 per cent.
• The agriculture sector growth has also been impressive at 7 per cent during the year 2010-11.
• The growth of secondary sector, which includes manufacturing and construction sector, stood at 7.2 per cent.
• Finance, insurance, real estate and business services expanded by 10.4 per cent in 2010-11, against a growth rate of 9.4 per cent in the previous fiscal.
• Trade, hotels and restaurants expanded by 9 per cent in 2010-11, against a growth rate of 7.8 per cent in 2009-10. Construction sector grew by 8 per cent during the year under review, against 7 per cent in the previous fiscal.
• The mining and quarrying sectors registered 5 per cent growth, against 6.3 per cent expansion in the previous fiscal. Manufacturing grew by 7.6 per cent in 2010-11, compared to a growth of 9.7 per cent in 2009-10.
• Electricity, gas and water production recorded 3 per cent growth, compared to 6.3 per cent. As per the data, the GDP at constant prices at market prices during the year 2010-11 has grown at 9.6 per cent.

‘Me-Dam-Me-Phi’ festival celebrated across Assam

• ‘Me-Dam-Me-Phi’ festival of the Tai Ahom community has been celebrated across Assam with religious fervour and traditional gaiety.
• The Tai-Ahoms offer oblations to their departed ancestors and offer sacrifices to Gods in traditional manner on this day.
• The Tai-Ahoms believe that their worthy ancestors are still living in the Heaven. It is one of the important festivals observed by the Tai Ahoms from very ancient times.
• The Ahom Kings, who ruled Assam for around six hundred years till 1826, performed this annual ‘ancestor worship’ initially at Charaideo, the erstwhile capital of the Ahom Kingdom, now at Sibsagar in Upper Assam.

RBI to issue ` 500 note with rupee symbol

• The Reserve Bank of India, RBI says that it will soon issue 500 rupees denomination bank-notes incorporating new rupee symbol without inset letter.
• The new notes will bear the signature of RBI Governor D Subbaro and the year of printing 2011 printed on the back of the bank note.
• The design of these notes to be issued now is similar in all respects to the bank-notes of 500 denomination in Mahatma Gandhi Series-2005 issued earlier, except for the new symbol.

Government releases ` 250cr for Saranda Action Plan in Jharkhand

• In Jharkhand, Union Rural Development Minister Jairam Ramesh released funds of Rs. 250 crores for ‘Saranda Action Plan’.
• The Action Plan which was prepared after recovering the area from the Maoists last year, targets 900 square Kilometers of the Saranda forest range in West Singhbhum district of Jharkhand.

Indian Hockey team for London Olympic Qualifiers Announced

• Hockey India announces the 18-member Indian team that will play in the London Olympic Qualifiers.
• London Olympic Qualifiers will be held at the Major Dhyan Chand National Stadium in New Delhi from the 18th February.
• The team for the tournament will be led by goalkeeper Bharat Chetri. The participating teams in the event are Canada, France, Italy, Poland and Singapore, besides India.

India Remembers Mahatma Gandhi on his death anniversary

• Mahatma Gandhi was remembered on his 64th death anniversary.
• President, Prime Minister and other leaders of nation paid floral tributes at Gandhi’s memorial in Rajghat in New Delhi at a function organised on Monday morning.

Amalraj wins Senior National Table Tennis title

• A Amalraj deafeated reigning champion Achanta Sharath Kamal to notch up his maiden Senior National Table Tennis title.
• However, his overt celebration earned him a 25 pc fine of his prize money.
• Senior National Table Tennis was organized in Lucknow.

Guru Nanak Darbar: Largest Gurdwara in Gulf region opens

• Guru Nanak Darbar has been built at a cost of 20 million US dollars. Even though Dubai has around 50,000 Sikhs residing there, it had no Gurudwara so far.
• The Vice-president and Prime minister of Dubai, Sheikh Mohammed bin Rashid Al Makhtoum, had granted 25,400 square feet land for the Gurdwara in Jebel Ali area.
• The ruler of Sharjah Dr Sheikh Sultan III bin Mohammed Al Qasimi had given 10 acres for a new crematorium for Hindus and Sikhs in the first week of January. This move is being seen as a graceful gesture from UAE and is a reflection of deepening of ties b/w India and UAE.

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Month: Current Affairs - February, 2012