Current Affairs – January, 2017

Latest Current Affairs January, 2017 with Current Affairs, news summary on current events of National and International importance of January, 2017 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Indian economy projected to grow by 7.7% in FY 2017: UNWESP report

According to the United Nations World Economic Situation and Prospects (WESP) 2017 report, India’s economy is projected to grow by 7.7% in fiscal 2017 and 7.6% in 2018

India will remain the fastest growing large developing economy due to its strong private consumption and gradual introduction of significant domestic reforms.

The UN flagship report has not mention of the withdrawal of the high-denomination Rs. 500 and Rs. 1,000 currency notes nor its impact on the country’s economic growth.

Key Highlights from Report
  • India has positioned itself as the most dynamic emerging economy among the largest countries and is expected to remain the fastest growing.
  • However, incase of India, low capacity utilisation and stressed balance sheets of banks and businesses will prevent a strong investment revival in the short term.
  • China’s growth is projected to remain stable at 6.5% for fiscal years 2017 and 2018 due to domestic demand and accommodative fiscal measures, including off-budget fiscal support through policy banks and public-private partnerships.
  • Implications of China’s ongoing economic rebalancing will inevitably be felt by the region in medium and long-run through trade (including commodity prices) and financial channels.

 Earlier, International Monetary Fund (IMF) had cut India’s growth rate for FY2017 to 6.6% from its previous estimate of 7.6% due to the “temporary negative consumption shock” of demonetisation. The World Bank also too decelerated India’s GDP growth for 2016-17 fiscal to 7% from its previous estimate of 7.6% citing the impact of demonetisation.

Month:  Categories: Reports & Indices

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Church courts cannot veto divorce law: Supreme Court

The Supreme Court has ruled that Canon law and decrees of divorce given by ecclesiastical tribunals or ‘Church Courts’ cannot veto the statutory law of divorce.

Ruling in this regard was given by SC Bench of Chief Justice of India J.S. Khehar and Justice D.Y. Chandrachud on writ petition filed in 2013 seeking a judicial declaration that divorce decrees passed by ecclesiastical tribunals are valid and binding.

SC Ruling
  • Referring to SC 1996 judgment in the case of Molly Joseph versus George Sebastian, SC held that binding nature of the Indian Divorce Act, 1869 governs divorce among Christians.
  • After Divorce Act, 1860 came into force, dissolution or annulment under Christian personal law cannot have any legal impact as statute has provided a different procedure and a different code for divorce.

Thus, SC order grants supremacy to parliamentary laws over personal laws of religious groups. It can be held that divorce decrees of religious institutions can’t override law enacted by the state.

1996 judgment: In Molly case (1996), SC had held that implication of the Canon law is confined to either theological or ecclesiastical and has no legal impact on the divorce of marriage between two persons professing Christian religion.

Month:  Categories: Governance & Politics

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