GDP Current Affairs - 2020

Why FM allowed Five States to raise financial resources through Open Market Borrowings?

Union Finance Ministry Smt. Nirmala Sitharaman has granted permission to raise additional financial resources of Rs. 9,913 crore to five states through Open Market Borrowings (OMBs). The five states Andhra Pradesh, Telangana, Karnataka,  Goa, and Tripura. Key Facts This permission allows Karnataka to raise Rs. 4,509 crore. Andhra Pradesh can borrow Rs. 2,525 crore. Telangana Read More…

ADB’s prediction of Asian economy shrinking for the first time since 1960s: Important facts

The prediction of the Manila-based Asian Development Bank says due to pandemic hit the Asian economy is going to shrink for the first time since the early 1960s. It also stated that the period will continue until next year with a downfall in the level of growth as projected before the pandemic. What is the Read More…

Facts Box: NITI Aayog launches Nationally Determined Contributions Transport Initiative for Asia (NDC-TIA)

The NITI Aayog recently launched Nationally Determined Contributions Transport Initiative for Asia (NDC-TIA). The initiative was launched to decarbonize transport and provide technical support on Green Gas emission reduction measures. Highlights The initiative is supported by International Climate Initiative of German Ministry of Environment. The NDC-TIA team is to closely work with Government agencies, researchers, Read More…

Farm Sector grows as GDP contracts for first time in India

The National Statistical Office is to release its data for this quarter on August 31, 2020. According to the NSO officials, in spite of agricultural production going up in the country, the GDP is contracting. This is the first time India is witnessing fall in GDP in spite of agricultural production going up. The quarterly Read More…

Institute for Management Development releases World Competitive Index

The Institute of Management Development recently released the World Competitive Index. India ranked 43rd in the ranking. Highlights In 2019, India was at the 43rd ranking. Since 1989, India had ranked 41st in the World Competitiveness Ranking. However, it slipped to 45th rank in 2017 and secured 44th in 2018. The continuous low ranking of Read More…