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Newspaper Bits 01-03-2018

A compilation of Prelims and Mains related Current Affairs from various Newspapers and PIB .

Growth in GDP increased in Third Quarter 
  • Growth in GDP was at 5.7% in the first quarter of this financial year and gross value added (GVA) is 5.6%
  • Growth in GDP was at 6.5% in the second quarter of this financial yearand  gross value added (GVA) is  6.2%
  • Growth in GDP was at  7.2% in the third quarter of this financial year and gross value added (GVA) is  6.7%
  • The GDP trends are consistent with the robust growth of the manufacturing Purchasing Manager’s Index (PMI), Index of Industrial Production (IIP) and consumer demand.
Suggested Reading : All you wanted to know about… the New IIP Series
What is the ‘Purchasing Managers’ Index
  • The Purchasing Managers’ Index (PMI) is an indicator of the economic health of the manufacturing sector by Nikkei India
  • The PMI is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
  • A PMI of more than 50 represents expansion of the manufacturing sector when compared to the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change.
CAG report unearths rampant illegal mining in Rajasthan
 
  • The mining not only violated rules and regulations but also flouted the Supreme Court’s direction to stop degradation of environment in the State’s Aravalli hills.
Static Syllabus revision topic :
  • Polity : Comptroller and Auditor General CAG (Article 148)
  • Geography : Aravalli hills
Pharma promotions tax exempt: tribunal
  • A Central Board of Direct Taxes (CBDT) circular disallows deductions that violate MCI regulations.
  • Income Tax Appellate Tribunal reversed the decision allowing pharmaceutical companies to account for their spending on doctors as a deductible expenditure has sparked off a fresh debate on ethics.
  • Doctors accepting such promotions may be violating the code of ethics of the MCI.
Value addition
  • Central Board of Direct Taxes (CBDT) falls under Department of Revenue, Ministry of Finance.
  • ITAT  functions under the Department of Legal Affairs in the Ministry of Law and Justice
  • ITAT is a quasi judicial institution
Against human rights
  • The World Justice Project Index takes into account 44 indicators in 113 countries.
  •  India’s rank in 2017-18 is 62.
  • our criminal justice system ranks is 66
  • Police encounters, which have become a common phenomenon, do contribute to our low rank on ‘rule of law’ index
  • The fundamental premise of the rule of law is that every human being, including the worst criminal, is entitled to basic human rights and due process.
  • Uttar Pradesh Control of Organised Crime Bill, 2017 based on the pattern of the regressive Maharashtra Control of Organised Crime Act (MCOCA) laws are basically examples of “rule by law” as law itself negates human rights and permits deviations from due processes.
  • Supreme Court said in the Salwa Judum case (2011): “The primordial value is that it is the responsibility of every organ of the State to function within the four corners of constitutional responsibility. That is the ultimate rule of law.”
Static Syllabus revision topic :
  • National Human Rights Commission of India (NHRC)
TERLS
 
  • Thumba Equatorial Rocket Launching Station (TERLS), or India’s first space port.
  • Indian space programme was born in 1963 with the launch of Nike-Apache sounding rockets from Thumba in Thiruvananthapuram.
  • TERLS was initiated through a unique international co-operative arrangement with
    •  NASA of USA,
    •  CNES of France and
    •  Hydro Meteorological Service of USSR.
  • presence of a strong ‘equatorial electroject’ current over Thumba, which was also very close to the geomagnetic equator, made it an ideal site for the launch of sounding rockets
  • The equatorial electrojet (EEJ) is a narrow ribbon of current flowing eastward in the day time equatorial region of the Earth’s ionosphere.
CRISIL Inclusix
 
CRISIL Inclusix measures progress on financial inclusion down to the level of each of the 666 districts in the country, and is based on data provided by the RBI, the MicroFinance Institution Network, and the Insurance Information Bureau of India.
Aadhar and PDS 
  • Complete digitisation of ration cards and linking them to Aadhaar number of beneficiaries has helped the government weed out over 2.75 crore duplicate and bogus ration cards that were used to get highly subsidised foodgrains.
  • According to government data, about 23.19 crore ration cards have been issued to people under the National Food Security Act (NFSA). While all the ration cards have been digitised, the progress of linking ration cards to Aadhaar numbers is about 82%.

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