Medical devices Current Affairs - 2020

NIPER institutes at the NIRF rankings

The Ministry of Human Resources and Development recently released the National Institutional Ranking Framework (NIRF). IIT Madras had topped the list.

The NIPER (National Institutes of Pharmaceutical Education and Research) institutes this year have shown great improvements in the ranking.

Highlights

The annual ranking is released in categories namely colleges, universities, law, dental, architecture, management, engineering, pharmacy and medicine.

Under pharmacy, the NIPERs have shown great improvements. Out of seven NIPERs in the country, SAS Nagar NIPER at Mohali retained its third position. The NIPER at Ahmedabad and Hyderabad improved a rank from 2019. They are now in 5th and 8th positions respectively.

Significance

While the country fighting with COVID-19 and struggling to find a cure, the NIPER institutes have greater roles. Their improvement in rankings clearly sends signals about the improving performances to the cause of research and innovation in the field of medical devices and pharmaceuticals. This is promptly the current need of the moment.

RBI: CPI Inflation to ease from 4.8% to 4.4% in Q2

On April 9, 2020, the Reserve Bank of India projected that the consumer Price Index is to ease from 4.8% in Q1 to 4.4% in Q2 of the financial year 2020-21.

Highlights

The estimated easing of CPI implies that the aggregate demand will weaken further. RBI had reduced repo rate and cash reserve ratios during the Monetary Policy Review held in March.

The RBI further estimates that the CPI is to reduce to 2.7% in Q2 and 2.4% in Q4. With the demand weakening, RBI had injected 50 billion USD of liquidity to the banks to support the economy.

Inflation

Currently, RBI is following target inflation rate in the country. The inflation target has been set at 4% with +2% and -2% as target bands on either sides. This means that RBI will try to maintain the inflation rate between 2% and 6%.

The Inflation Targeting was adopted by GoI in 2015.

Consumer Price Index

The Consumer Price Index is weighted average of prices of consumer goods and services such as food, transportation and medical care. It is calculated by taking price changes of every item in the basket and averaging them.