GK Updates - 9 July | Banking Quiz

Economic Survey predicts GDP in range of 5.4 to 5.9 % in 2014-15

I. Indian economy is likely to grow in the range of 5.4 to 5.9 per cent in 2014-15 overcoming the sub-5 per cent GDP growth of past two years, even as poor monsoon and disturbed external environment remain a cause for concern, says the Economic Survey.

II. The Survey, released a day ahead of the budget for 2014-15, expects that moderation in inflation will ease the monetary policy stance and revive the confidence of investors. "...with the global economy expected to recover moderately, particularly on account of performance in some advanced economies, the economy can look forward to better growth prospects in 2014-15 and beyond," it said.

III. After recovering in 2009-10 and 2010-11, GDP growth slowed down to decade's low of 4.5 per cent in 2012-13.

ECONOMIC SURVEY HIGHLIGHTS 2013-14:

GDP growth seen at 5.4-5.9 pc in 2014/15

Growth rate of 7-8 pc can occur after 2015/16

CAD to be contained at 2.1 pc of GDP in 2014-15

Wholesale inflation expected to moderate by end-2014

Need DTC as clean modern replacement for existing I-T laws

RBI intervention in forex market behind accumulation of reserves "generally"

Rupee has stabilised, reflecting an overall sense of confidence in forex and capital markets

Capital controls under FEMA do not support rapidly globalising economy.

F-Cube Technology to promote Football at ground level launched

The Sports Authority of India (SAI) and TheFootballLink on 8 July 2014 jointly launched F-Cube, technology to promote football at the grass-root level. F-Cube technology was launched at the Weightlifting Auditorium of the Jawaharlal Nehru Stadium in New Delhi.

About F-Cube and its benefits

F-Cube is interactive software that has various entertaining and educational games and can create standardized test that can help SAI to recognise talented children and will also develop an athlete’s mental and physical attributes.

• F-Cube is an attractive medium that can entice children of all age-groups and economic backgrounds

• F-Cube will also act as a video coaching platform that will be an aid in the Technical and Tactical development of a Footballer through various educational and game/practice apps

Amit Shah is new BJP President

I. BJP leader Amit Shah and close aide of Prime Minister Narendra Modi is the party's new President.

II. He replaces the incumbent Rajnath Singh who became Home Minister after the party's victory in the Lok Sabha polls.

III. A decision in this regard was taken at the party's Parliamentary Board meeting in New Delhi today. Announcing the decision, Mr. Singh said the board has unanimously elected Shah as the party chief and expressed hope that the BJP will touch a new high under his leadership.

India and UK to launch civil nuclear cooperation

I.India and United Kingdom on 8 July 2014 decided to launch negotiations for civil nuclear cooperation. The decision was taken during the visit of UK foreign secretary of state William Hague to India. He visited India on 7- 8 July 2014.

II.The Union External Affairs Minister, Sushma Swaraj and UK foreign secretary of state William Hague had discussions on variety of issues related to bilateral, regional and global issues of mutual interest.

III.The discussions were wide-ranging and extensive and covered variety of issues like civil nuclear cooperation, extradition, counter-terrorism and cyber issues as well as security situation in Iraq and Afghanistan. The issues mainly included economic ties between the two countries.

IV.At present, the Bilateral trade between the UK and India stands at 15 billion US dollars.

Emma Watson appointed as UN Goodwill Ambassador

I. Emma Watson, the British Actress was appointed as the Goodwill Ambassador for UN Women.

II. With this appointment, the accomplished actress and humanitarian Watson will work for empowerment of young women and also as an advocate for UN Women’s campaign in promoting gender equality.

III. Watson is the first Goodwill Ambassador appointment under Phumzile Mlambo-Ngcuka’s leadership. Phumzile Mlambo-Ngcuka is the Under-Secretary-General and Executive Director of UN Women.

Supreme Court appointed three judges

I. Justice Arun Mishra, Justice Adarsh Kumar Goel and Justice Rohington F Nariman were appointed as Supreme Court judges on 7 July 2014. The three judges were administered the oath of office by Chief Justice of India, R M Lodha.

II. Justice Mishra and Justice Goel were the Chief Justice of the Calcutta High Court and the Orissa High Court, respectively. Justice Nariman was a senior advocate at the Supreme Court and has been elevated from the advocates bar.

India State of Forest Report 2013 released by Union Environment Minister

I.India State of Forest Report (ISFR) 2013 was released in New Delhi by Prakash Javadekar, Union Minister of State (Independent Charge) for Environment, Forests & Climate of 8 July 2014. The India State of Forest Report 2013 is 13th report in the series.

II.Environment Minister Prakash Javadekar released the India State of Forest Report-2013 at a function in New Delhi. The report provides information on forest cover, tree cover, mangrove cover and growing stock inside and outside forest areas.

WC '14: Germany crush hosts Brazil 7-1; Argentina Vs Netherlands in 2nd semis tonight

I. Germany handed hosts Brazil their biggest ever defeat, 7-1 to seal a shot at the Football World Cup for the fourth time. The first semi-final at Belo Horizonte witnessed Germany making a mockery of the home team's terrible defending to become the first team to score seven goals at a World Cup semi-final, with five coming in the first 29 minutes.

II. In the second semi-final, Argentina will clash with the Netherlands at Sao Paulo late tonight. All India Radio will broadcast live commentary on the match. It can be heard on FM Rainbow, Rajdhani and national channel.

III. The title clash will take place on Sunday