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Wednesday, January 8, 2020

Prelims booster(Micro notes), current affairs with static portions - 08 January,2020

GDP growth 
GDP growth

  • GDP growth rate for 2019-20 expected to be 5%.
  • GDP decline in 2019-20 s attributed to slowdown in Manufacturing (2%) and Construction sector (3.2%).
  • Gross Domestic product(GDP) is the total monetary  of all the finished goods and services produced within a country’s borders in a specific time period.
  • Gross value Addition(GVA)=GDP+ Subsidies on Products−Taxes on Products.
  • GVA-gives picture of economy in producer side; GDP-gives picture of economy consumer side.
Snow and Avalanche Study Establishment (SASE)

  • SASE which is a laboratory of the Defence Research and Development Organization (DRDO) has issued an Avalanche warning to Leh in Ladakh region.
  • HQ of SASE is located near Manali, Himachal Pradesh.
  • it’s objective: To be a centre of excellence in ‘Cryospheric(frozen water part of the Earth system) Science and Technology’ to facilitate high operational mobility for troops in snow bound regions of Indian Himalayas.

  • National Pension System (NPS)
    • National Pension System (NPS) is a government-sponsored pension scheme launched in January 2004 for government employees. However, in 2009, it was opened to all sections.
    •  NPS is being implemented and regulated by PFRDA(Pension Fund Regulatory and Development Authority) – a statutory body established by PFRDA Act, 2013
    • Indian citizen (Both Resident and Non-Resident) between 18 and 60 years can join NPS through fulfilling know your customer (KYC) norms.
    • OCI (Overseas Citizens of India) and PIO (Person of Indian Origin) card holders and Hindu Undivided Family (HUFs) are not eligible for opening of NPS account.
    10% reservation Quota for Economically Weaker Sections
    • Centre has held that it is States’ prerogative to provide 10% economic reservation in government jobs and admission to education institutions.
    • It was 103rd Constitutional Amendment Act that introduced provide 10 per cent reservation in government jobs and education (except in minority educational institutions) to economically backward section in the general category.
    • The act inserted Articles 15(6) and 16(6) of the Constitution that provided for these reservations.

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