India Economic Summit
- World Economic Forum’s 33rd edition of the India Economic Summit is going to be organized in New Delhi.
- It is jointly organized by the Ministry of Commerce and Industry and industry body CII.
- The theme of the summit is ‘Innovating for India: Strengthening South Asia, Impacting the World’.
- It will host world leaders to discuss issues like Inclusive growth, the environment and innovation.
- Medicines from the sky initiative launched to deliver essential medicines by using drones .It is to be noted that state of Telangana
Paryatan Parv 2019 ( GS 3)
- Ministry of Tourism is organizing Paryatan Parv 2019 dedicated to 150th Birth Anniversary of Mahatma Gandhi.
- Its objective is to encourage Indians to visit various tourist destinations of the country and also to spread the message of ‘Tourism for All’.
- The three components of Paryatan Parv, are:
- Dekho Apna Desh: To encourage Indians to visit their own country
- Tourism for All: Tourism Events at sites across all States in the country are being organised
- Tourism & Governance: Interactive Sessions & Workshops with Stakeholders on varied themes will be organised across the Country2
Current Account Deficit
According to the data released by the Reserve Bank of India (RBI), the Current Account Deficit (CAD) of the country came down to 2% of GDP in the first quarter of the current financial year (April 2019- June 2019) from 2.3% of GDP, reported during the same period in the previous year (2018).
- declined on a year-on-year basis, because of a number of factors such as:
- Invisible Account: Higher invisible receipts For e.g., rise in net earnings from travel, financial services, and telecommunications, computer and information services.
- Trade Visible: Trade deficit has been lower recently, due to lower crude oil prices and also due to the declining demand.
- Rising Private transfers (Remittances).
- The current account measures the flow of goods, services, and investments into and out of the country. It represents a country’s foreign transactions and, like the capital account, is a component of a country’s Balance of Payments (BOP).
- There is a deficit in Current Account if the value of the goods and services imported exceeds the value of those exported.
- Trade of goods,
- Services, and
- Net earnings on overseas investments and net transfer of payments over a period of time, such as remittances.
- It is measured as a percentage of GDP
- In India, the Current Account Deficit could be reduced by boosting exports and curbing non-essential imports such as gold, mobiles, and electronics.
The Gandhian Challenge
the 150th birth Anniversary of Mahatma Gandhi, the Atal Innovation Mission (AIM), NITI Aayog’s Atal Tinkering Labs (ATL) and United Nations Children’s Fund (UNICEF) India has launched ‘the Gandhian Challenge’.
- This innovation challenge provides a platform for every child across India to ideate innovative solutions for a sustainable India of their dreams, using Gandhi’s principles.
- The most innovative, sustainable solutions/ideas will be showcased as a symbol of a larger movement by children taking root in every district of India.
Atal Innovation Mission (AIM)
- AIM is the NITI Ayog’s initiative to promote a culture of innovation and entrepreneurship in the country.
Prime Minister of India proposed the “Einstein Challenge” as a tribute to Mahatma Gandhi.
- Albert Einstein’s famous words on Gandhi says that “Generations to come will scarce believe that such a one as this ever in flesh and blood walked upon this earth.”
- Considering the above statement Einstein Challenge invites thinkers, entrepreneurs, and tech leaders to be at the forefront of spreading Gandhi’s ideas through innovation to make it reach future generations