11.01.21 Daily [Telangana] TSPSC Current Affairs

Telanganagovernment has requested permission from theReserve Bank of India(RBI) to raise another Rs 13,562 croreloanin thefinal quarterof the current financial year.

With this, the total loan raised this year will be Rs 48,562 crore and the cumulative loan burden will reach 2.86 lakh crore. But Telangana’s fiscal health seem reasonable when compared nationally as it will still be second last in terms of the ratio of gross domestic product as a percentage of loans.

The loan requirement is mostly to feed the state’s ambitious welfare programmes. Despite the economic slowdown due to Covid-19, the state had managed to achieve a good growth rate, but the income is not enough to finance its schemes as payments for it have also increased proportionately.

This fiscal year the state government intends to implement the Dalit Bandhu scheme and has also begun releasing funds for Rythu Bandhu.

The state government was scheduled to raise Rs 8,000 crore, Rs 6,000 crore and Rs 6,295 crore in the first, second and third quarter of the year respectively, according to the original indicative loan calendar. The rest of the requirements were to be raised in the fourth quarter.

Instead, the state borrowed more than planned. In the first quarter it was Rs 15,000 crore, in second and third quarters it touched Rs 10,000 crore and in the fourth it has proposed to borrow 13,562 crore.

According to the Fiscal Responsibility and Budget Management (FRBM) Act, 25% of the state’s total GDP can be considered the upper limit of the total loans raised by the state.

The Khelo India Games were created to bring India’s sports culture back to life. Due to the COVID situation, the 2021 Khelo India Games have been postponed. It is now scheduled to take place in Haryana in January 2022.

Madhya Pradesh will host the Khelo India Youth Games in 2022-23. The Madhya Pradesh Cabinet finally enacted Bhopal as the host city for the games.

The cabinet also approved a 50-acre plot of land for the construction of an international sports center.

For the first phase, the Madhya Pradesh government set aside Rs 176.59 crores. The International Sports Complex will cost Rs 15.56 crore to operate and maintain.

According to an official statement, the Centre will host the first-ever Startup India Innovation Week starting Monday to bring together the country’s top startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and others under one platform to celebrate entrepreneurship and promote innovation, as well as to showcase the entrepreneurship across India.

According to a statement from the Commerce and Industry Ministry, the Department for Promotion of Industry and Internal Trade (DPIIT) is hosting a virtual week-long innovation celebration from January 10 to 16, which also aims to commemorate India’s 75th year of independence and is designed to showcase the spread and depth of entrepreneurship across the country.

In the startup sector, 2021 has been dubbed the “Year of Unicorns,” with more than 40 unicorns expected to be added during the year.

David Card, Joshua Angrist and Guido Imbens won the 2021 Nobel Prize for Economic Sciences.

Highlights:

David Card, Joshua Angrist and Guido Imbens won the Nobel Prize for their methodological contributions to the analysis of causal relationships.

These have provided us with new insights about the labour market and shown what conclusions about cause and effect can be drawn from natural experiments.

This might help with pharmaceutical research and making chemistry greener.

The Nobel Prize for Economic Sciences was shared into equal parts for laureates.

Their strategy has spread to other fields and revolutionised empirical research

In 1968, Sweden’s central Bank established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize.

David Julius and Ardem Patapoutian, American Scientists, won the 2021 Nobel Prize for Medicine on 4 October.

Highlights:

David Julius and Ardem Patapoutian won the Nobel Prize for their discoveries of temperature and touch receptors.

These discoveries could help create new painkillers and allows us to understand how heat, cold and mechanical force initiate the nerve impulses.

This might help in the development of treatments for several diseases and conditions.

The Nobel Prize for medicine was shared into equal parts for laureates.

There were also recommendations for COVID 19 vaccines developers to be rewarded with Nobel Prizes.

Syukuro Manabe, Klaus Hasselmann won the 2021 Nobel Prize for Physics, and Giorgio Parisi won.

Highlights:

Syukuro Manabe, Klaus Hasselmann, and Giorgio Parisi won the Nobel Prize for their contributions to our understanding of complex physical systems.

Syukuro Manabe from Princeton University, USA and Klaus Hasselmann from Max Planck Institute for Meteorology, Hamburg, Germany were awarded for the physical modelling of Earth’s climate, quantifying variability and reliably predicting global warming”.

Giorgio Parisi from Sapienza University of Rome, Italy, was awarded for discovering the interaction of disorder and variations in physical systems from atomic to planetary scales.