IMPORTANT CURRENT AFFAIRS OF FEBRUARY 1st, 2018

IMPORTANT CURRENT AFFAIRS OF FEBRUARY 1st, 2018

1. Union Budget 2018-19: Complete Analysis

Budget 2018 Takeaways-
i. As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon.
ii. The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.
iii. Exports are expected to grow 15% in 2018.

2. India Slips to 42nd Place on EIU Democracy Index, Norway Tops

i. India has slipped to 42nd place on an annual Global Democracy Index according to the data compiled by the Economist Intelligence Unit (EIU). India has moved down from 32nd place last year.

The top 5 Countries in the list are- 

1.  Norway, 

2.  Iceland, 

3.  Sweden,

4.  New Zealand and

5.  Denmark.

ii. The index ranks 165 independent states. The list has been divided into four broad categories- full democracy, flawed democracy, hybrid regime and authoritarian regime. North Korea is ranked the lowest at 167th, while Syria is a notch better at 166th place.

3. FY16 GDP Growth Revised up to 8.2%, FY17 Unchanged at 7.1%- CSO

i. The Central Statistics Office (CSO) revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1%. The real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stand at Rs121.96 trillion and Rs113.86 trillion respectively, according to the CSO statement.

ii. In terms of real gross value added (GVA), it stated that the GVA at constant (2011-12) basic prices grew 7.1% in 2016- 17, as against a growth of 8.1% in 2015-16. 

4. World Bank Commits $100 million to Boost Tamil Nadu's Rural Economy

i. The government and World Bank signed a $100 million (about Rs 6,40 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.

ii. The funding aimed at promoting rural enterprises, facilitate their access to finance and create employment opportunities for youth particularly women.

5. Lt. Gen Anil Chauhan Takes Charge as DGMO of Indian Army

i. Lt. Gen Anil Chauhan took charge as the new Director General of Military Operations (DGMO) of the Indian Army. He succeeds Lt General A K Bhatt.

ii. Lt Gen Chauhan has held several important posts in the Army and is known for his expertise in counter-insurgency operations in Jammu and Kashmir and the Northeast.

6. World’s Oldest Man Passes Away at 113

i. The world's oldest man Francisco Nunez Olivera has died just over a month after celebrating his 113th birthday. 

ii. He passed away in Spain where he had lived throughout his life. He was born on December 13, 1904.