01 September, 2020

  • GDP falls 23.9% in first quarter + No calm before COVID-19 storm (data point) - (Indian Economy)
  • PLA aggression blocked at Pangong Tso - (International Relation)
  • 'China controls 1,000 sq. km in Ladakh- (International Relation)
  • GST reform needs a new grand bargain - (Indian Economy)
  • Ex­President Pranab Mukherjee passes away - (Polity & Governance)
  • Prelims revision
  • Question of the day (Indian Economy)

Prelims Quiz

    Solution.

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    Description

    GDP FALLS 23.9% IN FIRST QUARTER + RBI MOVES TO EASE LIQUIDITY FURTHER   

    The lockdown imposed due to COVID-19 has led to both demand and supply side disruption to the Indian Economy. According to a recent report published by National Statistical Office (NSO), the GDP has contracted by 24% in the first quarter (April-June) of 2020-21 as compared to 5% growth registered in Q1 2019-20. It is for the first time that India has recorded contraction in the quarterly GDP data since it started publishing GDP data on a quarterly basis since 1996. Further, India has seen contraction in GDP for the first time in the last 41 years since 1979.

    • Contraction of Economy
    • Highlights of the GDP Estimates
    • Economic Recession in India
    • Reasons for present Economic Slowdown
    • Decoding Investment Slowdown
    • Trends in Investment Rates
    • Reasons for decline in Investment

     

    PLA AGGRESSION BLOCKED AT PANGONG TSO + CHINA CONTROLS 1000 SQ. KM IN LADAKH  

    PLA troops violated the previous consensus arrived at during military and diplomatic engagements during the ongoing standoff in Eastern Ladakh and carried out provocative military movements to change the status quo.

    • Ongoing standoff in Eastern Ladakh
    • Changing status quo on the south bank of Pangong Tso
    • China controls 1000 sq. km in Ladakh

     

    GST REFORM NEEDS A NEW GRAND BARGAIN

    As the impacts of Covid-19 pandemic are increasingly becoming clearer, the acute shortages of revenues have made it difficult for the states to run the government. One of the reasons is that the centre is going back on promise to compensate the states for revenue losses due to GST implementation. In this regard, this article suggests new measures.

    • Centre going back on GST Promise
    • GST Act
    • GST Compensation Cess
    • Why centre is on a wrong footing while denying to stick to its promise?
    • A low, moderate and Uniform Tax rate is the need of hour

     

    EX-PRESIDENT PRANAB MUKHERJEE PASSES AWAY 

    Former President Bharat Ratna Pranab Mukherjee passed away at the age of 84 and has been cremated with state honours at the Lodhi Road crematorium in New Delhi. Pranab Mukherjee had a long political career where  he served as Member of Parliament seven times and helmed important post during the Prime Ministership of Indira Gandhi and Dr. Manmohan Singh. His contributions are

    • Doing away with the term “His Excellency”
    • Commuting Mercy Petitions
    • Teaching School Children
    • New Museum in Rashtrapati Bhavan
    • Smartgram' Initiative
    • General Anti Avoidance Rules
    Comments

    Vikram gurjar 3 months ago

    only after 2008 wala question is poorly framed .
    as far as i know upsc will not confuse us with such statement. 
    that only means upsc is stating a fact that in 2008 india faced recession and asking us to answer if we faced recession again after 2008.