Economic Survey: Karnataka’s GSDP to grow by 9.5% this fiscal
Karnataka’s gross state domestic product (GSDP), which had shrunk for the first time in at least a decade during 2020-21, is estimated to grow by 9. 5% (by over Rs 1-lakh-crore) to Rs 12. 5-lakhcrore for 2021-22, the Economic Survey released on Friday shows.
While advanced estimates for 2020-21 had pegged the GSDP to shrink by 2. 6% and touch Rs 11. 1-lakh-crore, revised estimates show that the economy actually shrunk by only 0. 5% and had touched Rs 11. 4-lakh-crore.
Also, in 2021-22 all sectors have shown growth compared to the previous year that saw the industries and services sector record a dip. The survey projects the agriculture sector to grow by 2. 2% while growth rate for the industries and ser- vices sectors are pegged at 7. 4% and 9. 2% respectively.
The growth rate of the agricultural sector (2. 2%) has dipped compared to a much higher figure of 15. 1% last year as reported by the latest survey, and 6. 4% as per the survey released in March 2021. In fact, the overall GSDP and sectoral figures for the past four years — 2020-21 to 2017-18 — are different in the recent survey compared to the document released in March 2021.
The contraction in agriculture sector is attributed to a lower growth rate of crop sector to -0. 3% in 2021-22 compared to 13. 8% in 2020-21, which in turn was caused by failure of food grain production caused by the floods that affected nearly 15 lakh hectares across Karnataka.
The industry sector is anticipated to grow showing gradual recovery in industries, which was -5. 5% during the previous year. And, the services sector is expected to grow on account of growth in IT-related services (23% of the GSDP), which was –1. 5% during the previous year.
At current prices, ad- vanced estimates of the GSDP in nominal terms is pegged at Rs 20. 5-lakh-crore, up from Rs 17. 3-lakh-crore during the previous year. “In FY 22, Karnataka is estimated to grow at a robust growth rate of 18. 4%,” the survey reads.
Indo-Pacific core of Quad’s agenda: MEA
A day after the virtual Quad summit in which PM Narendra Modi called on the four-nation grouping to focus on its core principles, the MEA reiterated the same message on Friday. The agenda leaders signed up to is Indo-Pacific being at the core of the Quad agenda.
“It is something they want to push ahead. The message is clear that all four countries are trying to take forward the agenda
Digital services tax of Canada
Under the new rules of the Canadian government, a 3% digital services tax will be imposed on the companies with total annual revenue of at least 850millionandprofitsof16 million or more from providing digital services in Canada.
It is to tax large multinational corporations (MNCs) such as Facebook, Apple, and Google which do business in Canada but pay most taxes in USA or tax-havens.
USTR has argued that this tax goes against the spirit and the text of the Base Erosion and Profit Shifting (BEPS) agreement, where it was agreed that the signatories would not impose new unilateral taxes that work against the spirit of the BEPS agreement.
Global Plastic Treaty
With the bang of a gavel made of recycled plastic and a standing ovation, representatives of 175 nations agreed on Wednesday to begin writing a global treaty that would restrict the explosive growth of plastic pollution.
The agreement commits nations to work on a broad and legally binding treaty that would not only aim to improve recycling and clean up the world’s plastic waste, but would encompass curbs on plastics production itself. That could put measures like a ban on single-use plastics, a major driver of waste, on the table.
National Safety Day 2022
National Safety Day is celebrated every year. The day aims to highlight the importance of following safety regulations and measures in order to avoid workplace mishaps. The motive behind celebrations of this day is to create awareness and commitment to working safely.
The National Safety Council declared the holiday to raise public awareness of all safety principles. These also include road safety, workplace safety, human health and environmental safety.
The National Safety Council is a non-profit and self-financing organization running at the national level.
India stays conservative on gender roles, says Pew Research survey
Indians believe women make better political leaders and share an egalitarian vision of women’s place in society, but an overwhelming majority agrees that when there are few jobs available, men should have more rights to a job than women. These are the findings of the latest Pew Research Centre survey of nearly 30,000 adults throughout India interviewed on gender roles in families and societies.
According to the report, while 55% of Indians believed that men and women make equally good political leaders, “nine-in-ten Indians agree with the notion that a wife must always obey her husband”. Indian women were only slightly less likely than Indian men to agree with this sentiment (61% versus 67%). Although most Indians expressed egalitarian views on gender roles, with 62% saying that both men and women should be responsible for child care, traditional norms still held sway, with 34% convinced that child care “should be handled primarily by women”.
Similarly, while a “slim majority (54%) says that both men and women” should be responsible for earning money, as many as 43% believed that earning an income is mainly the obligation of men. Also, 80% of Indians agreed with the idea that when there are few jobs, men should have more rights to a job than women.
The survey also found that Indians with a college degree were less likely to hold traditional views on gender roles, although this did not extend to all gender-related issues. So for instance, 80% of the college-educated (as compared with 88% of those with less education) still agreed with the notion that wives must always obey their husbands.
Women and Child Development Ministry launches ‘StreeManoraksha Project
The Ministry of Women and Child Development (MoWCD) on Wednesday launched the ‘StreeManoraksha Project’ in collaboration with NIMHANS Bengaluru with an aim to improve the mental health of women in India.
The project would focus on building on capacity building of OSC (One-Stop Center) functionaries on the tools and techniques as to how to handle the cases of women approaching the One-Stop Centres, particularly the women who have suffered violence and distress with due sensitivity and care.
The project which has been outlined meticulously by NIMHANS based on the requirements projected by the Ministry will be imparted in two formats. One format will focus on basic training for all OSC functionaries including the security guards, cooks, helpers, caseworkers, counsellors, centre administrators, paramedical staff etc.KPSC Notes brings Prelims and Mains programs for KPSC Prelims and KPSC Mains Exam preparation. Various Programs initiated by KPSC Notes are as follows:-
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