TO AY’S IMPORTANT URR NT A AIRS€¦ · 40-month low (0.16%). But retail inflation(CPI) in the...

BENEVOLENT IAS ACADEMY, COIMBATORE (DAILY CURRENT AFFAIRS)

BENEVOLENT IAS ACADEMY

#25, Sri Nagar, Hope College, Peelamedu (PO), Coimbatore – 641004.Ph: +91422-4521607, Cell: +91-9787731607, 9787701067/9787701068. Web:www.benevolentacademy.com.E-Mail:[email protected]

Dated 16.11.2019

TODAY’S IMPORTANT CURRENT AFFAIRS

UPSC-IAS|IPS|IFS (PRELIMS + MAINS FOCUS)

IN NEWS Wholesale and retail inflation

EXAM POINT OF VIEW: GS Prelims and GS Mains III – Economy

Recent data shows that the two rates are diverging – The WPI inflation for October has touched a

40-month low (0.16%). But retail inflation(CPI) in the country for the same month has touched a 16-

month high.

This essentially means that while prices are falling or growing at a marginal rate at the wholesale

level, the trend reverses at the retail consumer level, where prices are growing at a faster rate every

successive month.

This deceleration in wholesale prices has happened despite a significant jump in wholesale food

prices.WPI food inflation rose to 7.6 per cent essentially led by surge in prices of vegetables and

pulses. But what continued to pull down overall wholesale inflation number was the continued

“deflation” (that is, prices falling from one month to the next) in manufactured goods.


Reasons for such divergence

Some part of the difference between the wholesale and retail inflation trends is explained by the

way these indices are made.

For instance, food articles have a much higher weight — over 45 per cent — in CPI or retail inflation

index. In WPI, their weight is less than 30 per cent.

So even a similar spike in food prices will show up a much higher impact in the retail inflation index

(CPI) than the wholesale inflation index.

Then there are other items such as “services” which have a weight of about 30 per cent that

can only be found in retail inflation. A spike in these prices obviously bumps up only the retail

inflation while leaving the wholesale inflation unaffected

Has this happened before?

Between 2012 to 2015 there was a growing divergence between retail and wholesale inflation

indices. By October 2015, wholesale inflation was negative — that is, actual prices were declining —

while retail inflation was over 7 per cent.

While raging food inflation was a contributor, the spike in services such as education and medical

facilities was the biggest reason for this divergence in 2015.

Impact on Policy making

If the RBI looks at retail inflation, which is at 4.6 per cent and is expected to stay above the 4 per

cent mark till March 2020, it would be expected to raise interest rates and bring down inflation.

But if it were to look at WPI, the policy advice would be completely different. The RBI would then be

expected to cut rates further



TNPSC|SSC|RRB|BANK

National Press Day is celebrated on 16th November

The day marks the presence of free and responsible press. On

this day, the Press Council of India started functioning as a moral

watchdog. It ensures that the press maintains high standards and is

not fettered by any influence or threats. Vice President M. Venkaiah

Naidu conferred excellence in journalism awards.

History:

In 1956, the First Press Commission was planned to form a

Press Council to protect freedom of the press in India. On 4

July 1966, the Press Council was established in India. It came into effect from 16 November 1966.

Therefore, 16 November is celebrated as National Press Day every year.

Press Council of India:

The Press Council of India was formed in 1966 under the Press Council Act of 1978. It exercises

authority even over the instruments of the state in its duty to safeguard the independence of the

press.

Lt Col Jyoti Sharma appointed as the Indian Army's first female Judge Advocate General officer

Lieutenant Colonel Jyoti Sharma has been appointed as the Indian Army's first female Judge

Advocate General officer to be deployed on a foreign mission. She will be appointed as the

military legal expert with the government of Seychelles. The main role of Jyoti would be to update

the government of Seychelles officials on the defence and military act.

Women in Indian Army:

The Indian Army is also preparing to induct women in the Military

Police Corps. In April 2019, the Indian Army started the process of

inducting women as jawans by starting their online registration for

recruitment in the Corps Of Military Police. India Army will induct

women in a graded manner to eventually compromise 20% of the

total Corps of Military Police


J&K Grameen Bank ranked first among the 56 RRBs across India J&K Grameen Bank secured the top position in terms of achievement

of Rupay Card transaction targets (POS and eCOM). It has been

ranked first among the 56 RRBs across the country. National

Payments Corporation of India (NPCI) survey reported that Bank had

achieved a 94.95% target for POS/ eCOM transactions for the last

financial year 2018-19.

J&K Grameen Bank:

J&K Grameen Bank (JKGB) was established on 30 June 2009 under sub-the RRB Act, 1976. It functions in

11 Districts in the Union Territory (UT) of Jammu & Kashmir and 2 Districts in UT of Ladakh. The Bank has

Six Regional Offices and 217 branches. The Bank provides all kinds of financial services in both the

Union Territories. The Chairman of the Bank is Janak Raj Angural.

India join with China, Russia, and Japan to oppose the use of a 26 GHz spectrum band for

5G operations The Countries announced their decision at the World

Radio communication Conference (WRC) 2019. China,

Russia, and Japan supported the use of alternative

bands for 5G services with around 3000 MHz of

frequencies, whereas India is yet to decide on

alternative bands.

ISRO uses 26 GHz, spectrum band:

Earlier, China and Russia have opposed 5G operations in the 26 GHz band in order to defend their

military operations. India has aligned with the countries as the 26 GHz spectrum has been used by

the Indian Space Research Organisation (ISRO) for satellite services.

Signal transmitted over low-frequency bands will provide higher coverage than the transmission in

a higher frequency band. This will also lead to a proportionate reduction in the cost of the telecom

network.

World Radiocommunication Conference (WRC) 2019:

World Radiocommunication Conference (WRC) 2019 is being held from 28 October to 22

November 2019 in Sharm El-Sheikh, Egypt. The conference is held every 3 to 4 years. WRC

reviews the international treaty that governs the use of the radio-frequency spectrum and the

geostationary-satellite and non-geostationary-satellite orbits



TNPSC Group I, II, IV & VAO

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TO AY’S IMPORTANT URR NT A AIRS€¦ · 40-month low (0.16%). But retail inflation(CPI) in the...

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