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Current Affairs 05.01.2024

  1. Indian Heritage
  • Culture
  • Modern Indian history
  • The Freedom Struggle
  • Post-independence
  • Indian Society

A. population and associated issues

B. poverty and developmental issues

C.urbanization

   7. Geographical features

8.Indian Constitution

9. Polity

10. Governance

A. institutions

B. regulatory

C. Government policies

D. role of NGOs

E. measures

11. Social Justice

A. Welfare schemes

B Health

C. Education

D. Human Resources

E. poverty and hunger

12. International relations

A. India and its neighbourhood

B. groupings and agreements

C.Indian diaspora

13. Economic Development

A. Government Budgeting

FIRST ADVANCE ESTIMATES OF NATIONAL INCOME, 2023-24

he National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is releasing in this Press Note the First Advance Estimates (FAE) of National Income for the financial year 2023-24, both at Constant (2011-12) and Current Prices.

2.         Estimates of Gross/ Net National Income and Per Capita Income along with Gross Value Added (GVA) at Basic Prices by kind of economic activity and the Expenditure Components of GDP for the years 2021-22, 2022-23 and 2023-24 at Constant (2011-12) and Current Prices are given in Statements 1 to 4.

3.         Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated to attain a level of ₹171.79 lakh crore, as against the Provisional Estimate of GDP for the year 2022-23 of ₹160.06 lakh crore, released on 31st May, 2023. The growth in real GDP during 2023-24 is estimated at 7.3 per cent as compared to 7.2 per cent in 2022-23.

4.         Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated at ₹296.58 lakh crore, as against the Provisional Estimate of GDP for the year 2022-23 of ₹272.41 lakh crore, released on 31st May, 2023. The growth in nominal GDP during 2023-24 is estimated at 8.9 per cent as compared to 16.1 per cent in 2022-23.

5.         The Advance Estimates of National Income are indicator-based and are compiled using the benchmark-indicator method i.e. the estimates available for the previous year (2022-23) are extrapolated using the relevant indicators reflecting the performance of sectors. Data sourced from various Ministries/ Departments/ Private Agencies serve as valuable inputs in the compilation of these estimates. The sector-wise estimates have been compiled using indicators like (i) Index of Industrial Production (IIP), (ii) Financial performance of Listed Companies in the Private Corporate sector available for Q1 and Q2 of 2023-24, (iii) Crop production targets and First Advance Estimates of Crop Production for 2023-24, (iv) Production targets and summer season production estimates of Major Livestock Products for 2023-24 and (v) Fish Production, (vi) Production/ Consumption of Cement and Steel, (vii) Net Tonne Kilometres and Passenger Kilometres for Railways, (viii) Passenger and Cargo traffic handled by Civil Aviation, (ix) Cargo traffic handled at Major and Minor Sea Ports, (x) Sales of Commercial Vehicles, (xi) Bank Deposits & Credits, (xii) Accounts of Central & State Governments, etc., available for first 6-8 months of the financial year 2023-24. Percentage changes in the main indicators used in the estimation are given in the Annexure.

6.         The total tax revenue used for GDP compilation includes non-GST revenue as well as GST revenue. The Budget Estimates of tax revenue for 2023-24 along with latest information available on the websites of Controller General of Accounts (CGA) and Comptroller and Auditor General of India (CAG) have been used for estimating taxes on products at current prices. For obtaining taxes on products at constant Prices, volume extrapolation is done using volume growth of taxed goods and services and aggregated to get the total volume of taxes. The total product subsidies were compiled using the latest information on major subsidies viz. Food, Urea, Petroleum and Nutrient based subsidy as available on CGA website and the expenditure incurred on subsidies by most States up to November, 2023 as available on CAG website along with the Centre/ State-wise BE provision for 2023-24. Information available on Revenue expenditure, Interest payments, Subsidies etc. based on detailed analysis of budget documents of Centre and States for 2023-24 were put to use for estimating Government Final Consumption Expenditure (GFCE).

7.         However, these are early projections for 2023-24. Improved data coverage, actual tax collections and expenditure incurred on subsidies, data revisions made by source agencies etc. would have a bearing on subsequent revisions of these estimates. The First Revised Estimates for 2022-23 (benchmark year), due for release on 29.02.2024, may also lead to revision in growth rates reflected in FAE. Estimates are, therefore, likely to undergo revisions for the aforesaid causes in due course, as per the release calendar. Users should take this into consideration while interpreting the figures.

B. industrial

Bharatmala Pariyojana:

The Bharatmala Pariyojana was launched with the primary focus on optimizing the efficiency of the movement of goods and people across the country. Phase I of the Bharatmala Pariyojana approved in October 2017, focuses on bridging critical infrastructure gaps through development of 34,800 km of National Highways. The Pariyojana emphasised a “corridor based National Highway development” to ensure infrastructure symmetry and consistent road user experience. The key components of the Pariyojana are Economic Corridors development, Inter-corridor and feeder routes development, National Corridors Efficiency Improvement, Border, and International Connectivity Roads, Coastal and Port Connectivity Roads and Expressways.

Status of Bharatmala Pariyojana Phase 1:

The status of Bharatmala Pariyojana Phase 1 entails a total length of 34,800 km in 31 States and UTs, 550+ Districts. The length awarded is 27,384 km and the length constructed is 15,045 km.

E.issues

14. Technology

scheme “PRITHvi VIgyan (PRITHVI)” of the Ministry of Earth Sciences

The Union Cabinet Chaired by the Prime Minister, Shri Narendra Modi has approved the overarching scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences, for implementation during the period from 2021-26 at an overall cost of Rs. 4,797 crore. The scheme encompasses five ongoing sub-schemes namely “Atmosphere & Climate Research-Modelling Observing Systems & Services (ACROSS)”, “Ocean Services, Modelling Application, Resources and Technology (O-SMART)”, “Polar Science and Cryosphere Research (PACER)”, “Seismology and Geosciences (SAGE)” and “Research, Education, Training and Outreach (REACHOUT)”.

The major Objectives of the overarching Prithvi Scheme are:

· Augmentation and sustainance of long-term observations of the atmosphere, ocean, geosphere, cryosphere and solid earth to record the vital signs of the Earth System and change

· Development of modelling systems for understanding and predicting weather, ocean and climate hazards and understanding the science of climate change

· Exploration polar and high seas regions of the Earth towards discovery of new phenomena and resources;

· Development of technology for exploration and sustainable harnessing of oceanic resources for societal applications

· Translation of knowledge and insights from Earth systems science into services for societal, environmental and economic benefit.    

Ministry of Earth Sciences (MoES) is mandated to translate Science to Services for the Society in providing services for weather, climate, ocean and coastal state, hydrology, seismology, and natural hazards; to explore and harness marine living and non-living resources in a sustainable manner for the country and to explore the three poles of the Earth (Arctic, Antarctic and Himalayas). These services include weather forecasts (both on land and in the Oceans) and warnings for various natural disasters like tropical cyclones, storm surge, floods, heat waves, thunderstorm and lightning; alerts for Tsunamis and monitoring of earthquakes, etc. The services provided by the Ministry are being effectively used by different agencies and state governments for saving human lives and minimising damages to the properties due to natural disasters.

The research & development and operational (services) activities of MoES are carried out by ten Institutes of MoES, viz. India Meteorological Department (IMD), National Centre for Medium Range Weather Forecasting (NCMRWF), Centre for Marine Living Resources and Ecology (CMLRE), National Centre for Coastal Research (NCCR), National Centre for Seismology (NCS), National Institute of Ocean Technology (NIOT), Indian National Centre for Ocean Information Service (INCOIS), Hyderabad, National Centre for Polar and Ocean Research (NCPOR), Goa, Indian Institute of Tropical Meteorology (IITM), Pune and National Centre for Earth Science Studies (NCESS). A fleet of oceanographic and coastal research vessels of the Ministry provide required research support for scheme.

 

15. Environment

16. Security

17. Disaster Management