Current Affairs Today - Current Affairs 2015

Union Government and RBI sign agreement to keep inflation below 6%

Union Government and the Reserve Bank of India (RBI) have signed an agreement on Monetary Policy Framework in order to move towards the RBI Governor Raghuram Rajan’s view of inflation targeting.

Presently, Union Government and RBI give inflation estimates and do not set targets. But as per this agreement government has set a target for RBI to bring down inflation below

  • 6 per cent by January 2016.
  • 4 per cent for financial year and all subsequent years with band of +/- 2 percent.

This agreement mentions that if RBI fails to meet the target, it will

  • Report to the government with the reasons for the failure to achieve the target.
  • Propose remedial actions to be taken.
  • Further estimate the time period within which the failed target would be achieved.

As per the agreement, this Monetary Policy Framework will be monitored by the RBI and it is binding on Union Government to take proactive measures for price control.

This agreement will put in place a framework of a modern monetary policy to meet the challenges of an increasingly complex economy.

Background

The agreement comes in line with the recommendations of the RBI’s Urjit Patel committee on inflation targeting aiming to smoothen the monetary policy.

During the budget 2015-16 speech Finance minister Arun Jaitley also had mentioned that government will amend the RBI Act to provide for a Monetary Policy Committee and have a memorandum of understanding with the Reserve Bank.

Election Commission launches NERPAP throughout the country

Election Commission of India (ECI) has launched National Electoral Roll Purification and Authentication Programme (NERPAP).

Objective: To bring out a totally error-free and authenticated electoral roll throughout the country.

Key facts about NERPAP

  • For the authentication purpose, Electoral Photo Identity Card (EPIC) data of electors will be linked with Aadhar data.
  • It also focuses to improve the image quality of electors along with sorting issues like corrections of errors.
  • Facility to link Aadhar number will be provided to electors through sms, email, mobile application and National Voters Service Portal using web services through ECI website.
  • Electors also can link their Aadhar number by making a call at 1950 to state call centres.
  • Under NERPAP, collection and feeding of Aadhar will also be done by Electoral Registration Officer. In this regard special Camps will be organized, Voter Facilitation Centres, e-Seva centres and Citizen Service Centres. While Booth Level Officers will conduct door-to-door surveys to collect the details.

Government appoints Baldev Sharma as chairman of National Book Trust

Union Ministry of Human Resource Development (HRD) has appointed Baldev Sharma as chairman of National Book Trust (NBT).

He will succeed veteran Malayalam writer A. Sethumadhavan who had resigned six months earlier before completion his term.

Baldev Sharma is former editor of Rashtriya Swayamsevak Sangh (RSS) mouthpiece Panchajanya. It should be noted that Panchajanya was launched in 1948 and its first editor was former Prime Minister Atal Bihari Vajpayee.

About National Book Trust (NBT)

  • NBT is an Indian publishing house. It is as an autonomous body established in 1957 under Union Ministry of HRD (then Union Ministry of Education).
  • The main activities of the NBT include promotion of books and reading assistance, Indian books abroad, authors and publishers, children’s literature.
  • It also publishes reading material in several Indian languages for all age-groups.

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