Current Affairs 2019-20
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Economic activity rate is also called ‘Labor Force Participation Rate’.
The economic activity rate expresses the percentage of economically active persons (employed or seeking employment) in the reference population.
It is measured for the age group between 16 – 64.
It is the proportion of the population which offers its services on the labor market.
People who are still undergoing studies, housewives and persons above the age of 64 are not reckoned in the labor force.
It is represented in percent (%) form.
The conferment of a person, as a citizen of India, is governed by Articles 5 to 11 (Part II) of the Constitution of India.
The President of India is termed the First Citizen of India.
India has single citizenship and there is no dual citizenship.
A citizen of India is a citizen of all Indian territories.
The Pradhan Mantri Fasal Bima Yojna (PMFBY) was introduced in 2016 by Prime Minister Shri Narendra Modi.
It was introduced with all best features but without shortcomings of all previous crop insurance schemes like NAIS/MNAIS (National Agricultural Insurance Scheme/ Modified NAIS.
The Ministry of Social Justice and Empowerment introduced the Quota Bill.
Lok Sabha passed a Bill allowing 10% Quota in Employment and Education for the General Category candidates who belong to the Economically Weaker Sections.
The 10% reservation will be over and above the 50% stipulated by the Supreme Court and is expected to benefit a huge section of upper castes, including Brahmins, Rajputs (Thakurs), Jats, Marathas and Bhumihars and trading castes like Kapus and Kammas.
CAG report on Modi government’s artifice to achieve fiscal deficit target through off-budget financing.
CAG (The Comptroller and Auditor General) has presented its report on Tuesday 8 January 2019.
CAG has criticized the Narendra Modi government for borrowing through Off-Budget channels to finance capital and revenue spending in 2016-17 while maintaining deficit targets.
Off-budget financing is a practice that masks the true extent of fiscal and revenue deficits.
Audit has examined a few cases of off budget financing and analyzed impact of such operations on overall fiscal operations.
The present report discusses the compliance of the provisions of FRBM act, 2003 and the rules made thereunder by the union government for the financial year 2016-17.
Report discuss the underestimating of Public Account liability of Rs 7,63,280 crore, total liability at the end of the financial year 2016-17 would be Rs 76,69,545 crore which is 50.5 per cent of GDP rather than 45.5 per cent.
understatement of revenue expenditure at least by Rs 50,999 crore.
The short-lived legacy of appointing technocrats and experts as RBI Governors has ended with the exit of Urjit Patel. The country is back to appointing bureaucrats as RBI heads, who for most part of their professional careers, have dealt with political pressure more than with technicalities involved in economics of India.
Current Affairs 2019-20
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