CURRENT AFFAIRS

INSIGHT

(18th to 24th Jan 2016)

GNXX CAIN X03A EN16

Exports are falling consecutively

1. Inverted Duty Structure renders the manufacturing sector in an economy uncompetitive
for the past 13 months i.e. since
Import Duty is more on raw materials
December 2014
Import Duty is less on finished products
2. A joint forum of banks, led by SBI has decided to convert loan to 65% stake in Alok Industries by invoking SDR mechanism
3. Purchasing Managers Index (PMI) contracted for the first time in 2 years
It was started by USA based Institute of Supply Management in 1948.
It is an indicator of the economic health or business activity both in the manufacturing and services sectors.
50 separates growth from contraction.
It is derived from the monthly surveys of private sector companies.
The five major indicators are
New orders
Inventory levels
Production
Supplier deliveries
Employment environment
4. Union Civil Aviation Minister Ashok Gajapathi Raju said that 5/20 rule has no scientific meaning
5. FIPB clears 13 proposals worth Rs 6,500 cr
6. Because of Zika virus, several children in Brazil are being born with Microcephaly, the failure of brain to grow to normal size
7. Union Cabinet recommended for the imposition of Presidents rule in Arunachal Pradesh
8. In Start-up India, Govt. will create Rs. 10,000 cr Fund of Funds
Fund of Funds in this case will not directly invest in start-ups.
It will invest in SEBI registered venture capital firms.
This will contribute to a maximum of 50% of the daughter fund size.

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