17 Feb, 2018
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1) The Supreme Court on reduced the allocation of Cauvery water from Karnataka to Tamil Nadu to 177.25 tmc. Karnataka was supplying how much Cauvery water to Tamil Nadu till now? – 192 tmc
Explanation: A Special Bench of the Supreme Court, led by Chief Justice Dipak Misra, in its order of 16 February 2018 reduced 14.75 tmc (one thousand million cubic feet) from the 192 tmc Cauvery water supplied by Karnataka from its Billigundlu site to Mettur dam in Tamil Nadu. Karnataka needs to supply only 177.25 tmc Cauvery water to Tamil Nadu now.
– Though largely upholding the water-sharing arrangements finalised by the Cauvery Water Dispute Tribunal (CWDT) in its award on 5 February 2007, the court said Karnataka is entitled to marginal relief. The apex court was of the view that the CWDT in its order did not take into account Tamil Nadu’s stock of an “empirical” 20 TMC of ground water.
– Further, the court observed that Bengaluru has attained the “global status” and its drinking water requirement has increased multi-fold. It said the need for drinking water is at the top of the hierarchy.
2) What will be the new base-year for calculation of the Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) as was disclosed by the Ministry of Statistics and Programme Implementation (MoSPI) on 15 February 2018? – Year 2017-18 for GDP and IIP and Year 2018 for CPI
Explanation: Unveiling the plans of the Ministry of Statistics and Programme Implementation (MoSPI) for 2018-19 the Union Minister, MoSPI, D.V. Sadananda Gowda on 15 February disclosed that the new base year for GDP and IIP will be 2017-18 and for CPI, it will be 2018. He elaborated that base-year revision of these macro-economic indicators will begin soon.
– The current base year followed for these indices is 2011-12. It will take about two years for the revision to take effect and the new series will be available from 2020-21.
– However, economists expressed concern over the choice of 2017-18, as it was not a normal year due to effects of demonetization and the implementation of the goods and services tax.
3) Iranian President Hassan Rouhani addressed the gathering and offered Friday prayers at which historic mosque on 16 February 2018, which is first-of-its-kind of event in India associated with an Iranian premier? – Makkah Masjid (Hyderabad)
Explanation: Iran’s President Hassan Rouhani, who is on a state visit of India, offered Friday prayers at the historic Makkah Masjid in Hyderabad on 16 February 2018. He also addressed the gathering at this mosque. This is first-of-its-kind event in India associated with any Iranian President. Makkah Masjid is located near the historic Charminar in the Muslim-majority old city of Hyderabad.
– An important fact associated with Rouhani’s India visit is that he landed in Hyderabad instead of capital New Delhi as the first stage of his state visit.
– Hyderabad has historic cultural links with Iran. The city, founded by Quli Qutub Shah, was designed on the lines of Iranian city Isfahan. Mir Momin Astrabadi, who had migrated from Iran, had prepared the design of Charminar and Hyderabad.
4) In a major departure from rules, India is allowing its businesses to invest in Indian rupees in Iran, as was disclosed in the media reports on 16 February 2018. This facility has been made available for which two countries till now? – Nepal and Bhutan
Explanation: So far permission to invest in rupees has only been given to Indian businessmen investing in Nepal and Bhutan. But now an exception for Iran has been made because it has had restrictions imposed on it, barring it from dealing in dollars and euros, over its nuclear programme.
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