Friday Factly 26 June 2020
- June 27, 2020
- Posted by: admin1
- Category: Friday Factly
Gender based Violence
Gender and pandemic: According to a Study of the Seychelles, carried out in 2019 shows that gender-based violence leads to estimated costs of 4.625% of GDP.
Urban- Local Bodies Finance
- ULBs own revenues constitute only a third of total receipts.
- According to a study by ICRIER, property tax contributes to around 20 per cent on an average to total revenues of ULBs in India
- The average per capita property tax collection was ₹421 in 2017-18.
Global Hunger Index
- India was ranked 102 out of 117 on Global Hunger Index.
- According to a UNESCO Global Education Monitoring report 2020 about 40% of low- and lower-middle-income countries have not supported learners at risk of exclusion during this crisis, such as the poor, linguistic minorities and learners with disabilities.
- During the height of school closures in April 2020, almost 91% of students around the world were out of school.
- 55% of low-income, 73% of lower-middle-income and 93% of upper-middle-income countries adopted for online learning platforms for primary and secondary education.
Source: The Hindu
Coal is the main source of energy in India as it fulfils almost 67 per cent of the total commercial energy consumed in the country. Gondwana coal: Around 98 per cent of India’s total coal reserves are from Gondwana times. This coal is older in origin.
Tertiary coal is of younger age. It was formed from 15 to 60 million years ago.
In 2017, India had 315.14 billion metric tons (347.38 billion short tons) of coal.
Jharkhand and Odisha are top coal producing states.
The all India Production of coal during 2019-20 were 729.10 MT (Provisional) with a positive growth was 0.05%. Coal India Limited (CIL) and its subsidiaries accounted for 606.89 million tonnes during 2018-19 as compared to a production of 567.36 million tonnes in 2017-18 showing a growth of 6.9%.
In 2019-20, India imported 243 million tonnes of coal. It is about a third of its domestic output of 729 million tonnes. Coal India (largest miner) accounted for 602 million tonnes.
India- China Trade Deficit
- As per recent study India can potentially reduce its trade deficit with China by $8.4 billion over FY21-22, which is equivalent to 17.3% of the deficit with China and 0.3% of India’s GDP
- India’s imports from China totalled $65.1 billion in fiscal 2020 and exports at $16.6 billion.
- It led to a trade deficit of $48.5 billion.
- Chinese imports contributed to over 30% of India’s aggregate trade deficit.
- Over the past 3 decades, India’s exports to China grew at a CAGR of 30% but its imports expanded at 47%.
Agriculture accounts for around 17% of India’s GDP however nearly 50% of the country’s population depends on farm-based income.
World Economic Outlook
As per an update of the World Economic Outlook of the International Monetary Fund (IMF) the world’s gross domestic product (GDP) is set to contract by 4.9% in 2020.
The foreign direct investment (FDI) limit in defence manufacturing through the automatic route has now been raised from 49% to 74%.
SBI Report on income of people
The study expects India’s per capita income to fall by 5.4% to about ₹143,000 in 2020-21 from ₹152,000 last year. This contraction would be greater than the 3.8% decline expected in nominal gross domestic product. On a positive note, the report forecasts a V-shaped recovery next year, but cautions that it may take at least until 2023-24 to recover our pre-pandemic growth levels.
Source: Live Mint
India- China Trade
- India imported goods worth $70 billion from China in the financial year 2018-19
- In 2019, total merchandise imports from China were to the tune of $ 85 billion. India exported just $ 30 bn worth merchandise to China.
- Thus imports from China is 2.5 times of the export to China from India.
- 1% of India’s export was destined to China, whereas only 3% of China’s export came to India.
- On the import side, 13.7% of India’s imports came China , whereas China saw an insignificant share of its imports coming from India. The two-way trade with China registered marginal growth, with Indian exports increasing from 3.9 per cent to 5.1 per cent between 2015 and 2019, while imports from China hovered around 15 per cent.
- China accounts for a major share of India’s imports of antibiotics, nitrogen compounds, diodes and transistors, tubes and pipes of iron and steel, and electric accumulators, to take just a few examples.
- China accounts for nearly 70 per cent of the bulk drugs imported by Indian pharma companies.
Source: Indian Express
- Indian industry had a barely three per cent share in a rapidly growing global space economy which was already worth at least $360 billion.