27 Oct 2014 : Current Affairs, News & Facts

• India no more on the fragile five countries list-IMF.
  • Morgan Stanley coined the phrase “fragile five” in August 2013 to describe the currencies, which are particularly vulnerable because of their dependence on foreign investment to fund current-account deficits.
  • Turkey, Brazil, India, South Africa and Indonesia comes in this list.
  • India now is best prepared in emerging markets to deal with the US federal reserves monetary policies.
  • IMF also raised its 2014 india growth forecast to 5.6% as against its 5.4% april projection.
  • Fed’s tapering had led Indian rupee to become volatile and there was surge in CAD.
  • Now CAD is down from 4.7% to 1.7 of the GDP, an impressive figure a/c to IMF.
  International Relations

  
  
 
• After cyclone HUDHUD its cyclone NILOFAR to hit India.
  • Nilofar developed in the Arabian sea is expected to hit the north western region of gujrat.
  • The state administration is on alert and getting prepared and equipped to meet the emergency.
  • It may bring atmospheric changes such as rain and strong winds a/c to IMD.
  • Earlier Hudhud caused extensive damage to the city of Visakhapatnam and the neighboring districts of vizianagaram and srikakulam.Damages were estimated to be around 60,000 crores.
  Energy and Environment

  
  
 
• Small factories Bill proposed to govern wages and conditions of work in SMEs.
  • Reduces no. of compliances forms.
  • Removes bar on women operating certain machines.
  • Increases permissible overtime hours.
  • Increases laws to exempt factories from maintaining registers, filing returns.
  • SMEs account for over 30% industrial production.
  Economics

  
  
 
• Manohar lal khattar sworn in as 10th CM of Haryana.
  • It’s the first ever bjp government in Haryana.
  • Mr khattar was an rss prachark.
  • He is a first time legislator, who won the karnal seat.
  Constitution/Indian polity

  
  
 
• Vietnam,s PM Nguyen tan duang on a two day visit to india.
  • This visit will be important for india’s interest in the south china sea.
  • India will sign an MoU on prospecting by OVL(ONGC videsh ltd.) in two fields of south china sea.
  • Discussions will be held on supplying naval vessels to Vietnam.
  • The agreement will also include oil exploration, economic and cultural cooperation.
  International Relations

  
  
 
• Former union minister jairam ramesh to chair global research panel on sustainable development-future earth engagement committee.
  • Committee is instituted by organizations which includes UNEP,UNESCO and WMO.
  • The Engagement Committee is a strategic advisory group of thought-leaders from stakeholder groups including business, policy and civil society, representing the diversity of societal partners needed to address the challenges of global environmental change.
  • Jairam Ramesh, was a member of the UN Secretary General's High-Level Global Sustainability Panel between 2011 and 2012, and played a key role in the UN Climate Change Conferences at Copenhagen (2009) and Cancun (2010), has published widely on economic development, energy, environment, globalisation and India-China relations. 
  National

  
  
 
• 1ST Parliamentry elections in Tunisia.
  • Tunisians threw their dictator in 2011 revolution which started the Arab spring.
  • The Arab Spring was a series of anti-government protests, uprisings and armed rebellions that spread across the Middle East in early 2011.
  • Elections are also going on in Brazil and Ukraine.
  National