Economic Survey 2014-15 Highlights PDF

A day before Prime Minister Narendra Modi government's first full Union Budget, the Economic Survey has been tabled in Parliament on 27 February 2015 by Finance Minister Arun Jaitley. It has highlighted that the Indian economy would grow by more than 8 percent in the 2015-16 fiscal year. Following are the highlights of Economic Survey 2014-15:

* GDP growth seen at 8.1–8.5 per cent in 2015-16

* Double digit growth trajectory; 8–10 per cent GDP in coming years

* Inflation shows declining trend during April-December

* Current Account Deficit (CAD) to decline to about 1 per cent in 2015-16

* To adhere to fiscal deficit target of 4.1 per cent of GDP; to aim for 3 per cent

* Committed to fiscal consolidation; to enhance revenue generation

* More reforms on anvil; Goods and Services Tax, expanding direct benefit transfers to be game-changers

* Foodgrains production for 2014-15 estimated at 257.07 million tonnes; will exceed last 5-year average by 8.5 million tonnes

* NITI Aayog, 14th Finance Commission to enhance fiscal federalism

* External Sector returning to strength, resilience

* Need balance between ‘Make in India’ and ‘Skilling India’

* Services sector negotiations at WTO crucial for India in removing many market access barriers

* Revitalise PPP model to revive investment

* Manufacturing and services equally important for growth

* Consumer inflation in 2015-16 to be between 5-5.5%

* Lower inflation opens up space for more monetary easing

* There is scope for big bang reforms

* Labour, capital, land, market reform and skills to be engines of growth

* JAM Trinity — Jan Dhan Yojana, Aadhaar, Mobile — to help transfer of funds to poor without leakage

* Shield domestic industry to promote ‘Make In India’

* Borrowings to fund investment, not for meeting expenses

* Food subsidy bill in April-Jan up 20% to Rs. 1.08 lakh cr

* Reform Railway’s structure, commercial practices, overhaul of technology

* Public investment key growth engine in short-run for Railways, but not a substitute for private investment

* More disinvestments on the anvil in current fiscal

* Under-recoveries on petroleum products to come down to Rs. 74,664 crore in 2014-15, from Rs. 1.39 lakh crore in FY14

4Ds — Deregulation, Differentiation, Diversification, Disinter (better bankruptcy laws) — to push financial sector growth

* Implementation of GST to boost GDP, exports

* Suggests medium to long term fiscal policy to target deficit, expenditure

* Global commodity prices to remain weak in 2015

* Ecommerce sector to witness 50% growth in 5 years

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Daily Current Affairs Updates: 27 February 2015

1) Annual exercise TROPEX 2015 of Indian Navy concluded:

--> The Indian Navy on 27 February 2015 concluded its annual Theatre Level Readiness and Operational Exercise (TROPEX), a month-long drill encompassing all dimensions of maritime warfare.

--> The exercise also witnessed participation of units from the India Air Force and the Indian Coast Guard.

--> The area of operations spanned the Arabian Sea and northern Indian Ocean and was aimed at validating the Indian Navy's concept of operations.

--> This assumes significance as it makes the Indian Navy only the second behind the US Navy presently capable of deploying more than one carrier task force at sea.

2) IRCTC tied up with Amazon for online shopping:

--> Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with Amazon.in to sell various products.

--> Customers who access the IRCTC portal can now buy products ranging from consumer electronics, books, shoes, apparel, bags to toys, exotic food products, personal hygiene products, pet supplies, musical instruments and many more, at the click of a button and benefit from Amazon.in's wide distribution network.

3) AB De Villiers hits fastest 150 in ODI history:

--> South African cricketer AB De Villiers has hit the fastest 150 in one-day internationals.

--> De Villiers took 64 deliveries to reach 150, beating the previous best, set by Australia's Shane Watson, in 83 balls.

--> He achieved this feat in 64 balls in World Cup Pool B match against West Indies held at Sydney.

--> De Villiers has now in his the name the fastetst 50, 100 & 150 in ODIs.

4) Justice Amitava Roy sworn in as Supreme Court judge:

--> Justice Amitava Roy was on 27 February 2015 sworn in as a judge of the Supreme Court.

--> He was the chief justice of Orissa high court.

--> With his elevation, the strength of the apex court judges has gone up to 29. The apex court has a sectioned strength of 31 judges.

--> Justice Roy will have a tenure of three years.

5) Economic Survey: GDP to grow between 8.1-8.5% next year:

--> Union Finance Minister Arun Jaitley presented the Economic Survey for 2015-16 in the Parliament on 27 February 2015.

--> Growth forecast of 8.1 to 8.5% for fiscal year 2015-16 was disclosed in the Survey.

--> With expected growth for 2015-16 to be over 8%, India is on its way to become the fastest growing major economy in the World.

6) Royal Bank of Scotland to shut down its banking operations in India:

--> Britain’s largest state-owned bank, Royal Bank of Scotland (RBS), has decided to shut down its banking operations in the country but will be retaining the back office.

--> The balance sheet exposure of RBS’s India business has also almost halved in calendar year 2014.

7) Russian opposition leader Boris Nemtsov shot dead in Moscow:

--> Russian opposition leader and fierce critic of President Vladmir Putin, Boris Nemtsov, was shot dead by an unidentified attacker who fired multiple rounds at the politician as he was walking in central Moscow on 27 February 2015.

--> The murder of the 55-year-old politician, who has been an outspoken critic of Russia's involvement in Ukraine, came ahead of a major opposition rally this weekend.

8) Kshatrapati Shivaji took over as new CMD of SIDBI:

--> Kshatrapati Shivaji, a 1986 batch IAS officer, has taken over as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI).

--> Shivaji has been appointed on deputation basis for a period of three years from the date of his taking over the charge, a Finance Ministry release said.

--> Shivaji is currently Principal Secretary (Expenditure), Finance Department in Maharashtra government.

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Current Affairs Q&A: 26 February 2015

1) Which team won the Hockey India League 2015?

(A) Ranchi Rays

(B) Punjab Warriors

(C) Delhi Wave Riders

(D) Dabang Mumbai 

2) Who took oath as Bihar Chief Minister for the fourth time on 22 February 2015?

(A) Jitan Ram Manjhi

(B) Rabri Devi

(C) Lalu Prasad Yadav

(D) Nitish Kumar

3) As per recent reports, Dilip Shanghvi overtook Mukesh Ambani as the richest Indian in terms of market value. He is the founder and MD of?

(A) Cipla

(B) Sun Pharma

(C) Glaxosmithkline

(D) Hindustan Unilever

4) International Mother Language Day was recently observed on?

(A) 21 February

(B) 22 February

(C) 25 February

(D) 14 February

5) Who was adjudged the Man of the Match in the World Cup group match game in which India defeated South Africa by 130 runs recently?

(A) Virat Kohli

(B) Ravichandran Ashwin

(C) Ajinkya Rahane

(D) Shikhar Dhawan

6) Major General Chrishantha de Silva was on 20 February 2015 appointed as the new Army Chief of which country?

(A) Bangladesh

(B) Maldives

(C) Sri Lanka

(D) Nepal

7) Government recently launched an Online Portal named _____ to redress Consular Grievances of Indian citizens living abroad?

(A) Seva

(B) Madad

(C) Prerita

(D) Salaha

8) GARUDA SHAKTI-III which concluded recently was the joint exercises between armies of India and?

(A) Nepal

(B) Bhutan

(C) Srilanka

(D) Indonesia

9) Competition Commission of India (CCI) on 20 February 2015 gave its approval for the merger between Kotak Mahindra Bank and?

(A) TamilNadu Mercantile Bank

(B) ING Vysya Bank

(C) South Indian Bank

(D) Vijayalakshmi Bank

10) World Thinking Day was celebrated annually on?

(A) February 20

(B) February 21

(C) February 22

(D) February 19

Answers

1) Ans. (A) Ranchi Rays

2) Ans. (D) Nitish Kumar

3) Ans. (B) Sun Pharma

4) Ans. (A) 21 February

5) Ans. (D) Shikhar Dhawan

6) Ans. (C) Sri Lanka

7) Ans. (B) Madad

8) Ans. (D) Indonesia

9) Ans. (B) ING Vysya Bank

10) Ans. (C) February 22

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Highlights of Railway Budget 2015-16 - PDF Download

Railway Minister Suresh Prabhu on 26 February 2015 presented the first full-fledged Rail Budget of the Modi government for 2015-16. He did not announce any new trains, saying on the ground that a review was on about the capacity to add more trains which will be announced after the review is over. Against the backdrop of talk of privatisation of railways, the Minister said Railways will continue to be a precious national asset and people of India will own railways always. Following are the highlights of the Railway Budget 2015-16:

Download as PDF: Click Here

* No increase in railway passenger fares.

* Rail tickets can now be booked 120 days in advance.

* 'Operation 5 mins', wherein passengers travellling unreserved can purchase a ticket in 5 minutes.

* Bio toilets and airplane-type vaccum toilets in trains.

* Surveillance cameras in select coaches and ladies compartments for women's safety without compromising on privacy.

* Speed on nine railway corridors to go up to 200 km per hour.

* Wi-Fi in more stations, mobile phone charging facilities in all train compartments.

* Facility of online booking of wheelchair for senior citizens.

* Satellite railway terminals in major cities.

* Centrally managed Rail Display Network is expected to be introduced in over 2K stations over the next 2 years.

* All india 24/7 helpline - 138 from March 2015 ; Toll free No.182 for security.

* 917 road under-bridges and over-bridges to be constructed to replace 3,438 railway crossings; at a cost of Rs. 6,581 crore.

* Four Railway Research Centres to start in four universities.

* 24 to 26 coaches in certain identified trains, more general class coaches, ladders to be replaced.

* 17000 more toilets to be replaced by bio-toilets.

* The facility of e-ticketing will help railways to go paper less.

* SMS alert services for passengers to inform them about arrival and departure of trains.

* Modern facilities for disabled citizens, senior citizens, patients through IRCTC.

* In 400 stations wi-fi facility will be provided.

* Rs 8.5 lakh crore will be invested in Railways in next 5 years.

* Cleanliness in Railways highest priority under Swachh Rail Swachh Bharat.

* Surveillance cameras on select mainline and ladies compartments.

* A1 category stations will be given the facility of Wi-Fi.

* Freight rate for cement, coal, others hiked by up to 10%

* More General class coaches to be added.

* On-board entertainment on select Shatabdi trains.

* A new department to keep stations, trains clean.

* Collision Avoidance System to be installed on select routes.

View Rail Budget Speech (English): Click Here

View Rail Budget Speech (Hindi): Click Here

Rail Budget Highlights: Click Here

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Daily Current Affairs Updates: 24 February 2015

1) 14th Finance commission report tabled in Lok Sabha:

--> Government has tabled the 14th Finance Commission report for the period 1st April 2015, to 31st March, 2020 in the Lok Sabha on 24 February 2015.

--> Keeping its promise to give more financial autonomy to states, the Centre accepted the recommendations of the 14th Finance Commission, paving way for a record 10 per cent increase in their share in the Union taxes.

--> The commission recommended increase in the share of states in the centre's tax revenue from the current 32% to 42%-the single largest increase ever recommended.

--> The finance commission is a body set up under Article 280 of the Constitution, primarily to recommend measures and methods on how revenues, need to be distributed the Centre and states. 

2) Chris Gayle hit the first double century in World Cup history:

--> West Indies opener batsman Chris Gayle created history by becoming the first batsman to score a double century in the World Cup.

--> He made this record by scoring 215 runs off just 138 balls in a Pool-B match against Zimbabwe held at Manuka Oval stadium in Canberra, Australia.

--> It was also only the fifth double century in all ODI cricket and the first by a non-Indian, with Rohit Sharma (two), Sachin Tendulkar and Virender Sehwag the only other batsmen to achieve the feat.

3) Delhi Govt. launched mobile app on sale of liquor:

--> The Delhi Government on 24 February 2015 announced that it had developed a mobile application “mLiquorSaleCheck” for end consumers of liquor, which will provide detailed information about the liquor being sold in the city.

4) R. K. Pachauri resigned as Chief of UN panel on climate change:

--> After facing allegations of Sexual Harassment by a junior colleague, TERI Director General, Dr. R K Pachauri has resigned as the chief of UN environment body IPCC.

--> Dr Pachauri, a leading voice on the dangers of climate change, has denied the allegations and has claimed that he is a victim of computer hacking.

5) 27 Indian satellites currently operational: Govt:

--> As many as 27 satellites, including 11 which facilitate the communication network in the country, are currently operational and one more is to be launched next month, the Lok Sabha was informed on 25 February 2015.

--> One more satellite would be launched next month while three more are in the pipeline, Minister of State in the Prime Minister’s Office Jitendra Singh said during Question Hour.

6) BJP-PDP coalation to form govt. in J&K:

--> After nearly two months of talks on formulating a common minimum programme of governance, the Bharatiya Janata Party and the Peoples Democratic Party on 24 February 2015 announced their alliance for forming a “popular’’ government in Jammu and Kashmir.

--> This is the first time that the BJP will participate in governance in Jammu and Kashmir.

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GK Updates for LIC AAO Exam 2015

1) The punch line of the advertisement of which of the following organization is "Jindagi ke sath bhi Jindagi ke bad bhi"? - Life Insurance Corporation of India

2) The central office of the Life Insurance Corporation of India (LIC) is located at? - Mumbai

3) The Life Insurance Corporation of India has how many Zonal offices in India? - Seven

4) Which of the following schemes was launched by the LIC in December 2001 with the object to lessen the burden of parents in meeting the educational expenses of their children? - Shiksha Sahyog Yojana

5) If an organization wishes to venture into Insurance Business it has to obtain a licence first from which of the following? - Insurance Regulatory and Development Authority (IRDA)

6) Who put up the most stiff resistance against the British in India? - The Marathas

7) Who among the following is considered as"Father of Indian Ballistie Missile Programme"? - APJ Abdul Kalam

8) The practice of military governorship was first introduced in India by the? - Greeks

9) Which one of the following dynasties was ruling over North India at the time of Alexander's invasion? - Nanda

10) Which cricketer recently hit the fastest century in One-Day International (ODI) cricket? - AB de Villiers

11) Who was appointed as the Chairman of Central Board of Film Certification (CBFC) recently? - Pahlaj Nihalani

12) Tansen, a great musician of his time, was in the court of? - Akbar

13) Which one of the following had supported Mahatma Gandhi on the Non-cooperation resolution at the Special Calcutta Session, 1920? - Motilal Nehru

14) Which one of the following books is the official History of Revolt of 1857? - Eighteen Fifty Seven

15) Which operation was started by the British Government to arrest the leaders of Quit India Movement? - Operation Thunderbolt

16) The gas used for artificial ripening of green fruit is? - Ethylene

17) Silent valley is situated in? - Kerala

18) Novak Djokovic won his fifth Australian Open title 2015 defeating whom? - Andy Murray

19) Union Govt. recently sold its 10% stake in which company, becoming the biggest ever share sale by any private or public sector company in India? - Coal India Limited (CIL)

20) Reserve Bank on 30 January 2015 constituted a high-powered panel to re-examine and recommend appropriate set of businesses, size, conversion and licensing terms for the urban cooperative banking sector. Who is the chairman of the committee? - R Gandhi

21) The percentage of nuclear enery in India's total energy generation is? - 2%

22) Which one of the following scientists has carried out researches both in the field of biology and physics? - Jagdish Chandra Bose

23) Who won the Australian Open women's singles title 2015? - Serena Williams

24) Sergio Mattarella was recently elected as the new President of? - Italy

25) 35th National Games was recently held at? - Kerala

More questions will be added soon... LIC AAO Study Materials: Click Here

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Daily GK Updates: 25 February 2015

1) Which is the only licensed flag production unit in India? - Karnataka Khadi Gramodyoga Samyukta Sangha in Hubli

2) Who is the founder of Banaras Hindu University (BHU) at Varanasi in 1916? - Pandit Madan Mohan Malviya

3) Who wrote ‘Indian War of Independence, 1857’? - V.D. Savarkar

4) Line demarcating the boundary between India and China is? - McMohan Line

5) The Civil Disobedience Movement was launched by Mahatma Gandhi in? - 1930

6) The most famous centre of learning during Maurya period was? - Taxila

7) Who is regarded as the 'Mother of the Indian Revolutionaries'? - Bhikaiji Cama

8) The East India Company was founded in? - 1600

9) Who introduced English in India? - Lord William Bentick

10) In November 1830 who traveled to the United Kingdom as an ambassador of the Mughal emperor to plead for his pension and allowances? - Raja Ram Mohan Roy

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Multiple Choice Current Affairs Questions: 25 February 2015

1) Which former India cricket captain has been recently awarded an honorary life membership to the Marylebone Cricket Club (MCC)?

(A) Sunil Gavaskar

(B) Sachin Tendulkar

(C) Sourav Ganguly

(D) Kapil Dev

2) Prime Minister Narendra Modi on 18 February 2015 inaugurated Aero India 2015 at?

(A) Bengaluru

(B) Kolkata

(C) Kochi

(D) Delhi

3) For the first time, which among the following secretary has been recently made a member of the Space Commission?

(A) Finance Secretary

(B) Home Secretary

(C) Defence Secretary

(D) Foreign Secretary

4) Which E-Commerce company has recently acquired luxury fashion portal Exclusively.com for an undisclosed amount?

(A) Flipkart

(B) Snapdeal

(C) Shopclues

(D) Myntra

5) Which mobile company has recently partnered with UNICEF to provide health, education and youth-focussed content to its customers in 17 African countries?

(A) Reliance

(B) Airtel

(C) Idea

(D) Vodafone 

6) Which Airport in India has been adjudged the best, among the world's most performing airports in the 25-40 million passengers per annum category by the Airport Council International (ACI) recently?

(A) Indira Gandhi International Airport, NewDelhi

(B) Trivandrum International Airport, Thiruvananthapuram

(C) Chennai International Airport, Chennai

(D) Rajiv Gandhi International Airport, Hyderabad

7) Prime Minister Narendra Modi on 19 February 2015 launched the nationwide Soil Health Card Scheme in Suratgarh town of Sriganganagar district of which state?

(A) Haryana

(B) Rajasthan

(C) Punjab

(D) Uttar Pradesh

8) Which among the following process began on 19 February 2015 with the ritual 'halwa ceremony'?

(A) Printing of Budget 2015

(B) Printing of Rail Budget 2015

(C) Printing of Economic Survey 2015

(D) None of these

9) India's longest running movie _______ ended its marathon run at Mumbai's Maratha Mandir cinema after almost 20 years recently?

(A) Deewana

(B) Dilwale Dulhania Le Jayenge

(C) Kuch Kuch Hota Hai

(D) Devdas

10) Which bank recently started Tech Learning Centres to promote tech-banking?

(A) ICICI Bank

(B) Yes Bank

(C) SBI

(D) Axis Bank

Answers

1) Ans. (C) Sourav Ganguly

2) Ans. (A) Bengaluru

3) Ans. (D) Foreign Secretary

4) Ans. (B) Snapdeal

5) Ans. (B) Airtel

6) Ans. (A) Indira Gandhi International Airport, NewDelhi

7) Ans. (B) Rajasthan

8) Ans. (A) Printing of Budget 2015

9) Ans. (B) Dilwale Dulhania Le Jayenge

10) Ans. (C) SBI

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Employment News: 21 February - 27 February 2015

1. Union Bank of India 

Name of Post -Forex Office and Economist

No. of Post- 49

Last Date-28.02.2015

2. Indian Overseas Bank, Chennai

Name of Post- Senior Manager-Credit

No. of Post- 100

Last Date- 14.03.2015

3. Kendriya Vidyala Sansthan (HQ)

Name of Post-Deputy Commissioner, Assistant Commissioner and Principal

No. of Post- 95

Last Date-  30.03.2015                          

4. NMDC Limited, Karnataka                        

Name of Post- Junior Officer (Mechanical Trainee/Electrical/Civil Trainee etc.), HEM Operator GR I Trainee etc

No. of Post- 311

Last Date- 10.03.2015

5. Brahmaputra Cracker and Polymer Limited   

Name of Post- Chief Manager (Finance & Accounts), Senior Manager (Chemical/Fire & Safety/Laboratory), Manager (Chemical/ Cpmtract etc), Deputy Manager (Chemical etc.), senior Engineer (Chemical/Instumentation/Mechanical etc.)

No. of Post- 66

Last Date-  28.02.2015       

       

6. Union Public Service Commission Notifies Indian Economic Service/Indian Statistical Service Ecamination,2015 and Combined Geo-Scienctit and Geologist Examination,2015

Last Date- 20.03.2015

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