5 July 2019 Current Affairs

Economic Survey 2018-19 | Longest Electrified Rail Tunnel | Tapan Ray Committee | WB Report |

Posted on Jul 05, 2019 05:38 IST in Current Affairs.

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1) What is the projected growth rate for Indian economy for 2019-20, as was disclosed in the Economic Survey for 2018-19 that was tabled in the Parliament on 4 July 2019? – 7% (The Union Govt. pegged the growth rate for the current fiscal (2019-20) at 7%, marginally up from the five-year low of 6.8% recorded in the previous fiscal. The previous fiscal is considered to be lowest during last five years. The Economic Survey for 2018-19 was tabled in both houses of Parliament by Finance Minister Nirmala Sitharaman. The fiscal deficit, as per the survey deteriorated to 5.8% of the GDP as compared to 3.4% for 2018-19 estimated in the interim Budget)

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2) Recently India’s longest electrified railway tunnel was commissioned in which railway division of the Indian Railway? – South Central Railway (The South Central Railway (SCR) commissioned India’s longest electrified railway tunnel of 6.6 km length built at a total cost of Rs. 460 crore between Cherlopalli and Rapuru stations in Andhra Pradesh. This tunnel has reduced distance between Krishnapatnam Port and hinterland areas by 60 km. The tunnel will facilitate operating freight trains on Obulavaripalli-Venkatachalam-Krishnapatnam Port new railway line for a distance of 113 km)

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3) The RBI on 3 July 2019 constituted a 6-member committee to strengthen the corporate governance framework of systematically important Core Investment Companies (CICs). Who is heading this committee? – Tapan Ray (Tapan Ray, former Secretary in Union Ministry of Corporate Affairs (MCA) and non-executive Chairman of the Central Bank of India, is heading the 6-member committee constituted by the Reserve Bank of India (RBI) to review the regulatory guidelines and supervisory framework for CICs. CICs are the Non-Banking Financial Companies (NBFCs) which have their assets predominantly as investments in shares for holding stake in group companies but not for trading. CICs also do not carry out any other financial activity)

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4) Which South Asian country climbed into the upper-middle-income group for the fiscal year (FY) 2020 according to the World Bank’s classification of countries by income levels that was released during July 2019? – Sri Lanka (Sri Lanka became the second South Asian country after Maldives to enter World Bank’s classified upper-middle-income group. This was disclosed in its annual report on classification of countries by income levels. Sri Lanka’s per capita income stood at $4,060 or Rs. 2,77,542 during the year. Sri Lanka entered the lower-middle-income group in FY 1999, from the low-income category and continued for over two decades, before moving to the upper-middle-income group this year. With a per capita income of $2,020 or Rs. 1,38,087, India continues to be a lower-middle-income country along with 46 others. Among fellow developing economies- BRICS- India is the only country in the lower-middle-income group)

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