●India becomes 5th largest economy, overtakes UK, France
•According to a US-based think tank World Population Review, India’s economy is the fifth largest in the world with a GDP of $2.94 trillion
•The size of the UK economy is USD 2.83 trillion and that of France is USD 2.71 trillion
1. U.S. Nominal GDP: $21.44 trillion
2. China Nominal GDP: $14.14 trillion
3. Japan Nominal GDP: $5.15 trillion
4. Germany Nominal GDP: $3.86 trillion
5. India Nominal GDP: $2.94 trillion
6. U.K. Nominal GDP: $2.74 trillion
7. France Nominal GDP: $2.71 trillion
•Currently, India’s service sector is the fast-growing sector in the world accounting for 60% of the economy and 28% of employment
●FATF has decided to keep PAK into ‘grey list’ again
•The International Co-operation Review Group (ICRG) of the Financial Action Task Force (FATF) has recommended that Pakistan be retained on the “Grey List”, given the country’s failure to completely implement the 27-point action plan to check terror financing
•Financial Action Task Force (FATF);-
~Is an intergovernmental organization founded in 1989 on the initiative of G7 to develop policies to combat money laundering.(also included terrorism financing in 2001)
~grey list can hurt Pakistan’s economy as well as its international standing.
【As of now there are only two countries in the blacklist — Iran and North Korea — and seven on the grey list, including Pakistan, Sri Lanka, Syria and Yemen.】
●Bill for Two-Child Policy Norm
•Recently, a Private Member’s Constitution Amendment Bill has been introduced in the Rajya Sabha proposing incentives in taxation, education and employment for people who limit their family size to two children
•The Bill proposes for the incorporation of a new provision — Article 47A(Duty of the State to promote small family norm) — in Part IV of the Constitution.
•India’s population has already crossed 125 crores and India is expected to surpass the world’s most populous nation-China ( probably by 2027)
•India’s birthrate is slowing down to sustainable levels. [In 2000, the fertility rate was still relatively high at 3.2 children per woman. By 2016, that number had already fallen to 2.3 children]
◽14 private member’s bills have become law so far.[The last time a private member’s bill was passed by both Houses was in 1970.]
●Moody’s Global Macro Outlook Report 2020
•Revised India’s growth forecasts to 5.4% for 2020 and 5.8% for 2021, down from previous projections of 6.6% and 6.7% respectively
•However,it says that the coronavirus outbreak in China is expected to cause disruption in the first quarter.
•Moody’s is an essential component of the global capital markets.
•It provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets.
●India-Norway Task Force on Blue Economy for Sustainable Development
•It was inaugrated jointly by both the countries. [This task force was launched during Norwegian Prime Minister’s visit to India earlier in 2019.]
•The India-Norway cooperation in the field of oceans is based on a shared interest in the blue economy and the sustainable use of marine resources
•India has signed a Double Taxation Avoidance Agreement (DTAA) with Norway in 1986 which was revised in February 2011.
【Total bilateral trade between India and Norway stands around $1.1 billion in 2015-16】
●National Statistical Commission (NSC) Bill
•The Bill seeks to establish NSC as the nodal, autonomous and statutory body for all core statistical activities. It also proposes the NSC to be a body corporate. The current body lacks statutory backing.
•Government of India through a resolution dated 1st June, 2005 set up the National Statistical Commission (NSC), on the recommendations of the Rangarajan Commission
•National Statistical Commission (NSC) is a recommending body that helps the national statistical system in evolving better strategies to improve the functioning of the system
●Northern European Enclosure Dam (NEED)Hide — uploads.disquscdn.com
• Scientists have proposed the construction of the Northern European Enclosure Dam (NEED) enclosing all of the North Sea to protect economic regions of 15 Northern European countries from Sea-level Rise (SLR) as a result of climate change
•The proposed NEED aims to construct two dams of a combined length of 637 km.
The first between northern Scotland and western Norway (476 km) and the second between France and southwestern England (161 km).
●Kala Kumbh – Handicrafts Thematic Exhibition’
•Ministry of Textiles is organizing ‘Kala Kumbh – Handicrafts Thematic Exhibition’ in various parts of the country from 14th – 23rd February, 2020
•The objective is to promote Geographical Indication (GI) crafts and heritage of India
•It is sponsored by the Export Promotion Council for Handicrafts (EPCH).
•The EPCH was established under Companies Act in the year 1986-87 and is a non-profit organisation, with an object to promote, support, protect, maintain and increase the export of handicrafts
●National e-Governance Service Delivery Assessment (NeSDA) 2019
• Released by the Department of Administrative Reforms and Public Grievances(DARPG) with NASSCOM as the designated knowledge partner.
•It aimed at improving the overall e-Government development by evaluating the efficiency of service delivery mechanism from a citizen’s perspective
•Kerala has topped the index(As Expected:)
•It was followed by Goa at the second spot and Haryana at the third spot
●Madhav National Park,MP
•Madhav National park is situated near Shivpuri town in Madhya Pradesh. It is a part of the upper Vindhyan hills.
•The Park was the hunting ground of Mughal emperors and Maharaja of Gwalior.It got the status of a National Park in 1958
•The park is home to Particularly Vulnerable Tribal Groups (PVTG)s like Saharia