Current Affairs Approach to TSPSC Reviews

Posted: Posted Date – 11:20 PM, Sun – Feb 27, 22

Hyderabad: This post follows on from last week.

Economy

Divestments – Over the past two years, the government has been actively divesting – selling its shares in public sector enterprises (PSUs). All major divestments – PSU name, divestment percentage and money from divestment are important.

Examples:

  1. Divestment from Hindustan Aeronautics Limited (HAL)
  2. HAL is the first major divestment made by the government for the financial year 2021 for which it has set an ambitious target of Rs 2.1 trillion.
  3. % of GoI shares divested: 14.82
  4. Disinvestment method: offer to sell (OFS)
  5. Revenue: Rs.4,924.23 crore
  6. GoI shareholding after divestment: 75.15% (initially it was 89.97%)

Budget – Government of India and State Government budget highlights are important. Particular emphasis should be placed on

  • Achievements of the previous year – growth rate, etc.
  • New programs announced – purpose, target segment, budget allocation, sector, etc.
  • Existing schemes discussed in the budget – continuation, renaming of the scheme, merging with a new scheme, extension of the scheme to other social groups or regions, etc.
  • Taxation proposals – increase or decrease in taxes and reasons for them, proposed new taxes (on/how much), proposed new measures and their purpose, new surcharges, etc.

Q. The union’s budget for fiscal year 2022-23 this year aims to strengthen infrastructure with a focus on which of the following?

1pm Gati Shakti

2. Financing of investments

3. Productivity improvement and investment

4. Inclusive development

5. Divestments of various UAPs

Choose the correct code.

a) 1, 2 and 5

b) 3 and 4

c) 2, 3 and 4

d) 1, 2, 3 and 4

To respond: D

Explanation:

1. The Union budget for the financial year 2022-23 aims this year to strengthen infrastructure by focusing on four priorities:

2 p.m. Gati Shakti

3. Inclusive development

4. Productivity improvement and investment, start-up opportunities, energy transition and climate action

5. Financing of investments

Q. In 2022-23, states will be allowed a budget deficit of what percentage of the GSDP?

a) 3%

b) 4%

c) 5%

d) 6%

To respond: b

In 2022-23, states will be entitled to a budget deficit of 4% of GDP, of which 0.5% will be linked to reforms in the electricity sector.

Q. Consider the following statements regarding the MSME Acceleration and Enhancement Program (RAMP)?

1. During the union budget 2022-23, it was announced that the RAMP program was to be rolled out at an estimated cost of Rs.6,000 crore

2. It aims to improve the condition of MSMEs and agricultural commercialization in India

3. RAMP will encourage fintech and increase digital lending and borrowing.

Choose the correct code.

a. 1 and 2

b. 2 and 3

vs. 1 and 3

D. 1, 2 and 3

To respond: vs

Explanation:

RAMP is a post Covid-19 resilience and recovery program. It aims to improve the condition of MSMEs in India. MSMEs have been hit hard due to the Covid-19 pandemic and lockdown. It provides better access to finance for MSMEs.

Economic Survey – This is an annual document of the Ministry of Finance, Government of India. The Department of Economic Affairs of the Ministry of Finance presents the survey to Parliament every year, just before the Union budget. It brings out the economic trends of the country and facilitates a better appreciation of the mobilization of resources and their allocation in the union budget. The Study analyzes trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves and other relevant economic factors that affect on the budget. Candidates should focus on facts related to economic investigation trends.

Economic Survey Highlights:

GDP growth rate projected in a range of 8-8.5% for the next fiscal year 2022-23 (FY23)

The agriculture least affected by the pandemic, the sector is expected to grow 3.9% in 2021-22 after growing 3.6% the previous year

Crop diversification towards oilseeds, pulses and horticulture should be prioritized

The industrial sector is expected to grow by 11.8%

Survey pegs service sector at 8.2% growth in 2021-22

India’s total exports are expected to grow by 16.5% in 2021-22, surpassing pre-pandemic levels

Imports are expected to increase by 29.4% in 2021-22

· Middle class borrowing to own property well below 21.1% year-on-year growth; also below the level of the last four years

· India has the third largest startup ecosystem in the world after the United States and China.

Delhi saw 5,000 new startups compared to 4,514 in Bangalore between April 2019 and December 2021

UPI takes center stage as the country saw 4.6 billion transactions worth Rs 8.26 million in December 2021 alone

Five sectors capture approximately 83% of the total value of the pipeline: roads (27%), railways (25%), electricity (15%), oil and gas pipelines (8%) and telecommunications (6%)

Q. Which of the following are features of this year’s Economic Survey?

1. The theme of this year’s Economic Survey is the art and science of policy-making under conditions of extreme uncertainty

2. The central theme of this year’s Economic Survey is “the agile approach”.

3. This year’s survey uses various examples to highlight the use of satellite and geospatial data to reflect the growth of infrastructure in the country.

Choose the correct code.

a) 1 and 2

b) 2 and 3

c) 1 and 3

d) 1, 2 and 3

To respond: D

PEOPLE IN THE NEWS

Candidates can expect two or three questions from this segment and should focus on:

Recently deceased people – their field, their contributions and their achievements

People who make news for their recent achievements, especially Indians, in various fields – sports, science and technology, literature, arts, etc.

Q. Which of the following statements are true regarding Lata Mangeshkar?

1. She was the first singer to receive the Bharat Ratna award for her contributions to the nation

2. She received the Dadasaheb Phalke award

3. She also received honorary doctorates from the Sangeet Natak Akademi in 1989

Which of the above statements is (are) true?

a) 2 only

b) 1 and 2

c) 2 and 3

d) 1, 2 and 3

To respond: vs

Explanation: In 2001, in recognition of her contributions to the nation, she was awarded the Bharat Ratna, India’s highest civilian honour; she is only the second singer, after MS Subbulakshmi, to receive this honor.

Q. Read the following statements and choose the correct answers.

Statement I – Mithali Raj of India has won ICC Women’s Cricketer of the Year 2021.

Statement II – Ellyse Perry of Australia was the first player to win the award.

Choose the correct code.

a) Statement I is true; Statement II is false

b) Statement I is false; Statement II is true

c) Both statements I and II are true

d) Both statements I and II are false

To respond: b

Explanation: Smriti Mandhana of India has won the 2021 ICC Women’s Cricketer of the Year award. She is the second player to win the award in the world. Ellyse Perry of Australia was the first player to win the award.

The award was introduced in 2006. It recognizes the best international cricketer based on their performance over a twelve-month period. Between 2006 and 2011, the award was given in a single category called “Female Player of the Year”. In 2017, separate categories were introduced for One Day and T20 cricket.

By Deepika Red

Director, Shikara Academy

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