12 AUGUST 2017 Current Affairs from The Hindu
Kunal Sir, Published On:12-Aug-2017
· For the first time yesterday, the government presented a second or a mid-year economic survey for the year 2017-18 highlighting the new factors that the economy faces since the last such exercise in February.
· It says, Achieving the high end of the 6.75-7.5 percent growth projected previously will be difficult due to appreciation of rupee, farm loan waivers and transitionary challenges from implementing GST.
· It also said that the scope for monetary easing was considerable and this, coupled with reform to address the twin balance sheetchallenge, will help the economy achieve its full potential quicker.
· The Economic Survey said that a number of indicators-- GDP, IIP, credit, investment and capacity utilisation, point to a deceleration in real activity since first quarter of 2016-17and a further deceleration since the third quarter.
· The first volume of the Survey in February had predicted the range of GDP growth of between 6.75-7.5 percent, factoring in more buoyant exports, a post-demonetisation catch-up in consumption and a relaxation in monetary conditions consequent upon demonetisation.
· Since then all the new factors-- real exchange rate appreciation, farm loan waivers, increasing stress to balance sheet in power, telecom, agricultural stress and transitional challenges from implementing the GST -- impart a deflationary bias to activity, according to the survey.
· Since February 2017, the rupee has appreciated by about 1.5 percent.
· According to the survey, he balance of risk to achieving the 6.75-7.5 percent growth has shifted to the downside.
Source: The Hindu
· Jammu & Kashmir’s chief minister Mehbooba Mufti discussed article 35A with Prime Minister Narendra Modi.
· She said, For the "idea of India to accommodate the idea of Jammu & Kashmir", Article 35A that grants special status to the State "should not" be removed.
· Article 35A is being challenged in the Supreme Court. It empowers the Jammu and Kashmir legislature to define the state's "permanent residents" and their special rights and privileges.
· The controversy erupted in 2014 after an NGO 'We the Citizens' filed a PIL in the Supreme Court seeking that Article 35A be struck down. The Article was added to the Constitution by a Presidential order in 1954.
· While the State government contested the petition, saying the President had the power to incorporate a new provision in the Constitution by way of an order, the Centre, recently, expressed its reservations.
· Article 35A provides the right to purchase and own property, seek government jobs, aid, college admissions and scholarships in the state. Those who emigrated from the state to Pakistan during Partition are considered state subjects for two generations, but those who migrated from other than POK and settled in J&K, post Partition, are ineligible.
· J&K has three distinct parts, Jammu, Kashmir and Ladakh. There are no major objections to the Article’s abrogation in Jammu; in fact the region desires its removal, as recent forum discussions have indicated, while Ladakh seeks a union territory status. However, the Valley remains solely averse. It is unlikely that the Article can be considered for removal in one part of the state, while it remains in the others.
Source: The Hindu
· Ted Corbett, the former cricket correspondent of the Daily Star, and a long-term columnist of the Hindu, has died at the age of 82.
· Corbett, whose career began as a tea-boy on the Yorkshire Evening Press, enjoyed a long and varied career that was launched in earnest in 1951, when travelled to Japan on national service, and ended up being based in Tokyo as editor of the armed forces' newspaper, Japan News.
· He worked for a variety of publications on his return to England, including the Daily Herald, Daily Mirror, The Daily Telegraph and Daily Express, before being appointed the Daily Star cricket correspondent in 1982.
· In 1989, Corbett set up his own sports agency, and went on to become a regular contributor to The Hindu and its sister publication, Sportstar, an association that spanned 25 years.
· Corbett was an ever-cheerful and engaging presence in a variety of press boxes across the world. "I followed England for 300 Tests and 500 one-day internationals and, like Fred Trueman, I am bloody tired after all the effort," he said last year, after finally retiring at the age of 81.
· In the course of his career, Corbett also reported on rugby, football, snooker, golf and athletics. He wrote one work of fiction, The Great Cricket Betting Scandal, which was published in 2000, in addition to a variety of cricket books, including Cricket on the Run: 25 Years of Conflict (1990) and the Wisden Book of Test Captains (1991), which he compiled in conjunction with his long-term partner, Joanne King.
SOURCE: The Hindu
· The 163-MW Athirappilly hydro-electric project was proposed in 1996 by the Kerala State Electricity Board, which was to include a dam of 23-metre height, with a storage capacity of 8.44MCM, on the Chalakkudy river in the Vazhachal Forest Division, Kerala.
· The project was in limbo for several years owing to widespread opposition from many quarters. To begin with, environment activists alleged that the waterfall could dry up in future were alleged and human rights groups pointed out that the primitive tribal group would be displaced in the process.
· Though the Kerala Ministry of Environment and Forests approved the project in 2005 and Environment Impact Assessment (EIA) clearance was given, Kerala High Court quashed the clearance and ordered a public hearing the following year.
· In 2011, Madhav Gadgil, chairman of Western Ghats Ecology Expert Panel, alleged that the clearance for the project was not properly issued and that the project could not be carried out until the Forest Rights Act was implemented in its true sense.
· In 2015, the Expert Appraisal Committee (EAC) for River Valley and hydro-electric projects approved the project.
· The eight settlements of Kadar tribal people opposed the project on the basis of Community Forest Rights (CFR). Representatives of the community had expressed their opposition to the project in a letter submitted to the Union Minister in February.
SOURCE: The Hindu
· Uhuru Kenyatta has been re-elected as president in Kenya, with final official results giving the incumbent a substantial margin of victory over the veteran opposition politician RailaOdinga.
· The 55-year-old, in power since 2013, also called on his compatriots to “remember that we are brothers and sisters” and shun “division”.
Source: The Hindu
QUESTIONS BASED ON
CURRENT AFFAIRS: 12.08.2017
1. India’s first economic survey was presented for which financial year?
2. Which article of Indian Constitution empowers the Jammu and Kashmir legislature to define the state's "permanent residents" and their special rights and privileges?
3. Article 35A Article was added to the Constitution by a Presidential order in _______.
4. Athirappilly hydro-electric project included a dam to be constructed on a river named ___________.