IMF projected India’s FY’15 growth at 5.4%

The International Monetary Fund (IMF) projected 5.4% economic growth for India in 2014-15 and proposed to strengthen the inflation management polices and doing away with supply bottlenecks for better GDP.

The IMF forecast:

  • Consumer prices based inflation is expected to remain near double-digits in 2014-15, driven by high food inflation that feeds into wages and core inflation.
  • The tight monetary policy would slow the growth recovery.
  • For the fiscal year 2013-14, India’s growth will be 4.6% and will pick up to 5.4% in 2014-15 at factor cost. (These projections of India were a conclusion of its annual discussions with India).

As per India’s official estimates, the economy is probably to expand at 4.9% in 2013-14 as against 4.5% in the previous fiscal. The government expects to growth to pick up in the 2014-15 fiscal.

Month: Categories: Business & Economy Current Affairs 2018

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“Patna” – World’s Longest Free Wi-Fi Zone in India

The Chief Minister of Bihar, Mr. Nitish Kumar unveiled the world’s longest free Wi-Fi zone at the e-Bihar summit in Patna.  The free Wi-Fi zone stretched nearly 20 km between the National Institute of Technology (NIT) at the eastern end of the Ashok Rajpath and Danapur at the western end of the state capital, Patna.

  • This new free Wi-Fi zone beats the current world’s longest zone of 3.5 km in China.

In a bid to make Patna crime-free, Mr. Kumar also inaugurated the ‘city surveillance and dial 100’ project, wherein 100s’ of CCTV cameras would be installed all over the city for better safety and security.

  • A state data centre has also been opened for storing of the ‘data’ collected by these cameras.
  • This project will enable CCTVs to capture vehicle numbers and person’s identity instantly, which would be shared all over the network to nab any criminal. Every vehicle entering or exiting the city would be monitored this way.

Positive Outcome of Free Wi-Fi zone: Still, internet connectivity in India is poor and Wi-Fi hubs are rare. Also, free WiFi zones are next to negligible in the country. Such a step has put not just India on the global map but even made Bihar an example to follow for other states.

Month: Categories: Places in News 2018Science and Technology Current Affairs - 2018

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