Saturday, 30 April 2016

Current Affairs (April 2016):

1.The first direct container MV Harbour-1 Vessel between India and Bangladesh carrying cotton was flagged off from Krishnapatnam of Andhra Pradesh to Chittagong on 28 March.The voyage was started as a part of a coastal shipping agreement to facilitate trade between India and Bangladesh. The trade agreements were earlier signed during the reign of the then Indian Prime Minister Indira Gandhi in 1974 and they were revived back after a period of four decades during Prime Minister Narendra Modi’s visit to Dhaka in June 2015.

2.India’s biggest ever land, naval and homeland security exhibition Defence Expo 2016 began in Goa. The four-day biennial event was inaugurated by the Union Defence Minister Manohar Parrikar. This for the first time, the Expo is being held outside the national capital New Delhi. Defence Minister Manohar Parrikar on 28 March unveiled Defence Procurement Policy during the ninth edition ?of Defence Expo India-2016. The 2016 theme is “Rise of Futurism” and its vision is to make India prosperous by establishing world class science and technology base in defence sector.”

3.The Union Government has notified the Aadhaar (Targeted Delivery of Financial and other Subsidies, benefits and services) Act, 2016. The Act will provide statutory backing for transfer of subsidies and benefits to eligible people having Aadhaar (UID) number. Aadhaar Act seeks to provide efficient, transparent and targeted delivery of subsidies, benefits and services to individuals residing in India by assigning them unique identity numbers (UID) or Aadhaar number. It will be used for all benefit that will be linked to consolidated fund of India or the expenditure incurred from it. The Act gives statutory for establishment of the Unique Identification Authority of India consisting of a Chairperson (part time or full time) and two Members (part time). Those individuals not having Aadhaar number shall be offered alternate and viable means of identification for delivery of the subsidies, benefits or service.

4.President Pranab Mukherjee has imposed President’s Rule (State Emergency) in the state of Uttarakhand on 27 March in the wake of constitutional breakdown under Article 356 of Constitution. In this regard, President has signed the proclamation state Emergency based on the recommendation of the Union Cabinet. With this proclamation, Congress Government headed by Chief Minister Harish Rawat ceased to function and the state Assembly has been suspended. Background The constitutional breakdown in state was due rebellion in the ruling Congress Government after its nine rebel MLAs rebelled, bringing government in minority in the state legislature. These 9 rebel MLAs were disqualified by the speaker under the anti-defection law. This disqualification had reduced the strength of the 70-member house to 61. So the final tally of Congress MLAs was 27 and BJP had 28 MLAs.

5.An India-born academician Surya Deva has been appointed as the United Nations (UN) Adviser on Human Rights and Businesses. He was appointed by the Geneva-based UN Human Rights Council (UNHRC) as the Asia-Pacific representative of the UN Working Group on the issue of human rights and transnational corporations and other business enterprises. Surya Deva is an associate professor at the School of Law of City University of Hong Kong. His research interests lie in Business and Human Rights, India-China Constitutional Law, Corporate Social Responsibility (CSR) and Sustainable Development.

6.Htin Kyaw (69) sworn in as the first elected civilian (non-military) President of Myanmar after 53 years of military rule. Myanmar’s Army was in power since 1962 coup. He belongs to National League for Democracy (NLD) Party and succeeds Thein Sein, who had stepped down after end of five years of army-backed rule.

7.The Russian Government has approved a deal of ONGC Videsh Ltd (OVL) to acquire 15% stake in Vankor oilfield from Rosneft. The deal was signed between the OVL and Rosneft in September 2015 and is worth 1.3 billion US dollars. Vankor is Russia’s second biggest oil field with capacity of total 2.5 billion recoverable reserves barrels (or 500 million tonnes).

8.Haryana became the first state in the country to implement the use of injectable contraceptives as a family planning measure. In this regard, Chief Minister Manohar Lal Khattar has launched ‘Project Salamati’ in assistance of Pathfinder International.

9.The Central Board of Direct Taxes (CBDT) has signed 11 unilateral Advance Pricing Agreements (APAs). With this CBDT has so far entered into 59 bilateral or unilateral APAs. 50 of these agreements have been signed in the current financial year i.e. 2016-17.

10.Renowned playback singer P. Susheela Mohan created a new world record for singing highest number of songs. She has now been recognised by both the Guinness Book of World Records for singing most number of songs in Indian languages. Guinness Book of World Records officially credited her for singing record 17,695 songs (solo, duet and chorus backed songs) in twelve Indian languages.

11.Govt to infuse Rs. 5,050 crore in PSU banks soon. Likely contenders for the fresh round of infusion include Central Bank of India, Indian Bank, UCO Bank, Oriental Bank of Commerce, Vijaya Bank and United Bank of India.

12.The Indian Space Research Organisation (ISRO) is set to script history by launching a record number of 22 satellites in a single mission in May 2016.

13.The Haryana Assembly on 29 Mar 2016 passed the Haryana Backward Classes (Reservation in Services and Admission in Educational Institutions) Bill, 2016 to provide reservation for Jats and four other communities in government jobs and education.

14.India ranks third among countries with high number of financial Trojan infections, where cyber criminals defraud customers of online banking services.

15.Media and communications agency Maxus India on 29 Mar 2016 said it has bagged the media duties for online classifieds platform OLX following a multi-agency pitch.

16.Pallavi Fauzdar from Agra became the first woman solo biker in the Limca Book of Records to reach the tip of Mana pass in Uttarakhand, arguably the world’s highest motorable mountain pass.

17.American poet and novelist Jim Harrison, best known for his collection of three novellas Legends Of The Fall, passed away on 26 March.

18.The Union Ministry of Health and Family Welfare launched India’s first indigenous rotavirus vaccine named Rotavac to combat infant mortality due to diarrhoea. It was launched by Union Health Minister J.P. Nadda as part of country’s ambitious Universal Immunisation Programme (UIP). The vaccine is being introduced initially in four States Andhra Pradesh, Haryana, Himachal Pradesh (first to launch it) and Odisha. The vaccine is administered orally to infants in three dose course at ages of six, ten and fourteen weeks.

19. China has launched its first cybersecurity public organisation aimed at better safeguarding national cybersecurity and guiding internet companies in perform their duties, the media reported on 26 Mar 2016.

20.Indian-American Nandita Bakshi (57) has been appointed the President and Chief Executive Officer (CEO) of Bank of the West, a subsidiary unit of French banking giant BNP Paribas.

21.Indian Test Captain Virat Kohli has replaced Aaron Finch as the number one batsman in the latest ICC T20 rankings.

22.European Union, through the European Investment Bank (EIB), will lend India €450 million (approximately Rs. 3,300 crore) towards constructing a 23-km long Lucknow Metro rail line and a purchasing a fleet of new trains.

23.The government of India has approved a $1.5 billion (approximate Rs 9,000 crore) to support Swachh Bharat Mission (SBM) in rural areas.

24.The 4 days National AROGYA fair is going to be started from 26 March in Goa. The fair will be organised by AYUSH Ministry and Confederation of Indian industry.

25.Kadhaprasangam maestro and actor VD Rajappan has passed away at a private hospital in Kottayam.

26.The Union Ministry of health and welfare has been taking consistent efforts to develop new medicines and keep the contagious diseases under control. Recently, the minister of Health and Welfare launched the Rota virus vaccine.

27.Intel’s former Chief Executive Officer (CEO) and Chairman Andrew Grove passed due to away Parkinson’s disease.

28.The Reliance Defence and Engineering Ltd (RDEL), which was previously known as Pipavav Defence, has decided to further diversify into design and development of naval weapons and sensors, which cost about 60 per cent of a weapons platform.

29.To ensure minimum damage to the ecosystem of the Sundarbans during this polling season, the district administration and political parties have decided to minimise the carbon footprint in the islands.

30.India Post has released a customised commemorative stamp on Hindustan Aeronautics Limited (HAL) in recognition of the company’s 75 years services to the nation.

31.Prime Minister Narendra Modi arrived in Brussels on the first leg of his three-nation tour to Belgium, the US and Saudi Arabia.

32.Finance Minister Arun Jaitley has launched Make in India conference in Sydney and asked Australian businesses to be the part of India's growth story.

33.India’s first indigenous composites sonar dome, a ship’s underwater eyes and ears, was today flagged off by Defence Minister Manohar Parrikar from here to be delivered to Mazgaon docks in Mumbai.

34.The government permitted 100% FDI in the marketplace format of e-commerce retailing with a view to attract more foreign investors.

35.The Reserve Bank of India (RBI) said in a statement that it has cancelled registration of 22 non-banking financial companies (NBFCs) including Amazan Capital and Mascot Commerce.

36.Asia's biggest telescope has been launched by Prime Minister Narendra Modi and Belgian Prime Minister Charles Michel. The telescope has been located at a height of 2,500 metres at Devasthal in Nainital district. The site was chosen for getting a clear view of the sky. The telescope has mirror of 3.6 m diameter.

37.Dr. Najma Heptulla, the Union Minister for Minority Affairs launched innovative entrepreneurship and skill development programme of Maulana Azad National Academy for Skills (MANAS)– through leading national/ international experts in different skill sets in New Delhi. She also inaugurated online two training centres of Beauty & Wellness Sector, one in Okhla and another in Daryaganj area.

38.J P Nadda, Union Minister of Health and Family Welfare launched two major Digital initiatives to provide easy access to health services to the public: GIS-enabled HMIS application and the self-printing of e-CGHS cards, in New Delhi.

39.State-run Vijaya Bank said the government has approved a capital infusion of Rs 220 crore in lieu of preferential allotment of shares.

40.Kachhabali village in Bhim tehsil of Rajsamand district has become the 1st in the state to vote to close down its lone liquor shop.

41.Indian Direct Selling Association (IDSA) has announced Jitendra Jagota as the new Chairman in its new Executive Committee at the General Body Meeting held in New Delhi.

42.The Oscar winning US actress Patty Duke has passed away recently. She was 69 year old. She won Oscar for playing Helen Keller in The Miracle Worker in 1963. Her cause of death was sepsis from a ruptured intestine.

43.Indian Test Captain Virat Kohli kept his Performance at the top helped his side into the semifinals of the World Twenty20 after defeating Australia. He has replaced Aaron Finch as the number one batsman in the latest ICC T20 rankings. Number-one ranked India will go head to head with third- ranked West Indies in Mumbai , while in the first semi-final in Delhi while second-ranked New Zealand will square-off against fifth-ranked England.

44.According to a United Nations Industrial Development Organisation (UNIDO) report, India ranked sixth among the world's top 10 manufacturing countries.

45.India's fastest train, the Gatimaan Express, is all set to be launched on April 4, opening a new chapter in the history of the Indian Railways.The inaugural run of Gatimaan Express from Hazrat Nizamuddin, Delhi, to Agra Cantt. is scheduled for April 5, the Divisional Railway Manager's office said in a statement.

46.World Autism Awareness Day is an internationally recognized day on the 2nd of April every year. This year the theme is "Autism and the 2030 Agenda: Inclusion and Neurodiversity".

47.India is hopeful of receiving the first loan issued by the newly formed Asian Infrastructure Investment Bank (AIIB) in the second half of the year. The country is looking for funds on lower interest rates for its ambitious solar power project that intends to scale the capacity to 100 gigawatts by 2022.

48.The government has issued a new set of income tax return (ITR) forms that require people with an income of Rs 50 lakh and above per annum to disclose their assets.The new forms are for assessment year 2016-17.The finance ministry published a gazette order in this regard and taxpayers can file their their ITRs till the stipulated deadline of July 31.

49.Veteran journalist and writer Babu Bharadwaj passed away due to cardiac arrest in Kozhikode, Kerala. He was 68. As a journalist, he was part of prominent print and television media in Kerala.

50.Germany’s Development Bank KfW to provide loan assistance to metro system for Nagpur.

51.West Indies have won the World T20 final in stunning fashion with four straight sixes in the final over to beat England by four wickets.

52.Ace Indian boxer Shiva Thapa has won the silver medal at the Asian/Oceania Qualifying Tournament held in Qian’an, China in the 56 Kilogram category final.

53.Germany’s Development Bank KfW will provide loan assistance of 3750 crore rupees for the modern and sustainable metro system for Nagpur city.

54.The Union Finance Minister has extended the safeguard duty on import of some steel products by two years i.e till March 2018.

55.India expects $500M AIIB loan for solar power projects in 2016.

56.US, Saudi Arabia impose joint sanction on fundraising for terrorists.

57.The National Stock Exchange (NSE) has launched a new index Nifty MidSmallcap 400. It will represent the mid and small market capitalization segments of the stock market. The new index will comprise of 400 companies which are the constituents of Nifty Midcap 150 and Nifty Smallcap 250 indices.

58.In a major step towards improvement of infrastructure for cancer cure, Maharashtra tied up with the Tata Trusts to link all government colleges and medical colleges to the national cancer grid for uniform cancer profiling and quality treatment.

59.Consumer loans became cheaper with banks moving to a new way of setting lending rates following RBI’s diktat to ensure faster and effective transmission of its policy rate cuts to borrowers. A number of banks, including ICICI, Bank of India, IDBI today joined their peers like SBI, HDFC Bank and Axis Bank to make a shift to lending rates based on marginal cost of funds. Other banks that have adopted new methodology for calculating lending rates include Kotak Mahindra Bank, Yes Bank and Oriental Bank of Commerce. Banking major SBI, HDFC Bank, Axis Bank, among others would move to new methodology for setting lending rates from April 1. RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1. The lending rate based on marginal cost of funds is lower than base rate in some cases resulting in lower EMIs for borrowers. Most of the banks were deciding lending rates based on their average cost of funds.

60.Ace Indian boxer Shiva Thapa has won the silver medal at the Asian/Oceania Qualifying Tournament held in Qian’an, China in the 56 Kilogram category final.

61.Pakistan’s Sikh religious body elected a caretaker president after its first chief Sham Singh died. Tara Singh was elected the caretaker “pardhan” at a meeting of the Pakistan Sikh Gurdwara Parbandhak Committee.

62.Bhartiya Nabhikiya Vidyut Nigam Ltd (BHAVINI) has appointed the Kallol Roy as its new chairman and managing director (CMD).

63.Bollywood star Ranveer Singh, who brought alive the role of Maratha warrior Peshwa Bajirao II on the silver screen through Sanjay Leela Bhansali’s “Bajirao Mastani”, will on Friday be feted with the ‘Maharashtrian Of The Year’

64.Australian pacer Clint McKay has announced his retirement from international cricket after his first-class team Victoria Bushrangers won the Sheffield Shield tournament.

65.Blackstone To Acquire HP's 60% Stake In Mphasis.

66.World’s largest oil firm Aramco to invest in India.

67.IIT Madras and IIM Bangalore have topped the list of top educational institutes unveiled by the Ministry of Human Resource and Development.

68.Mining conglomerate Vedanta said its subsidiary Talwandi Sabo Power (TSPL) has set the Guinness World Record for planting 2,08,751 saplings at a single location in less than an hour.

69.The mobile application 'Vidyut Pravah' has been launched by Mr. Piyush Goyal, the minister of state (Independent Charge) for Power, coal, new and renewable energy, to empower Common People to Demand 24x7 Power from The States.

70.Delhi Chief Minister Arvind Kejriwal has launched the first phase of the Green Delhi initiative by planting trees at the Triangular Park near ITO Chowk.

71.Reserve Bank of India (RBI) today cuts the Repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5% in its first bi-monthly monetary policy review for the 2016-17 fiscal.

72.Former Mumbai Ranji Trophy cricketer Ranjan Baindoor passed away at his residence following a massive heart attack.

73.Kenya’s Cyprian Kotut claimed a double in the French capital within a month when he won this year’s Paris Marathon in personal best of 2 hours, 07 minutes and 13 seconds.

74.5 times world chess champion Viswanathan Anand will be honoured with the Hridaynath Award, which felicitates and recognises successful individuals across the country from various walks of life.

75.The world’s first public dengue vaccination programme was launched in the Philippines as nurses began injecting the first batch of a million children with a French drug to combat the sometimes deadly disease.

76.The Government has released Rs. 25,834 crore to FCI as Food Subsidy. In addition to this, wage and means advance of Rs. 10,000 crore will be released shortly.

77.Unique Identification Authority of India (UIDAI) had generated 100 crore Aadhaar numbers in five-and half years since the first Aadhaar was issued in 2010.

78.Shivraj Singh Chouhan, the Chief Minister of Madhya Pradesh along with Union Environment Minister Prakash Javadekar and other dignitaries have inaugurated the world's first wildlife sanctuary for white tigers in Madhya Pradesh.

79.India's first cash giving app has launched by a fin-tech company called Tslc Pte Ltd. The app is named as CASHe.

80.Union Government has released Indian Intellectual Property (IP) Panorama to increase awareness and build sensitivity towards IP in the SME sector, academia and researchers. The IP Panorma is a single window interface for information on IP and guidance on leveraging it for competitive advantage. It can be accessed at http://ict-ipr.in/index.php/ip-panorama.

81.The Prime Minister Narendra Modi on 5 April 2016 launched Stand Up India Scheme to promote entrepreneurship among Scheduled Caste/Scheduled Tribes and Women entrepreneurs.

82.Mother Dairy, an Indian FMCG company has partnered with Indian Premium League (IPL) cricket team Delhi Daredevils as its principal sponsor.

83.Pranab Mukherjee, the President of India conferred the National Geoscience Awards 2014 at a function to be held at RashtrapatiBhavan in New Delhi. The National Geoscience Awards was  previously known as the National Mineral Awards and was instituted by the Ministry of Mines in 1966.

84.Odisha government has launched 100 AdarshaVidyalayas and CBSE-affiliated English medium schools in 14 districts of the state

85.The Chief Minister of Bihar Mr. Nitish Kumar has declared total ban on the sale of all forms of alcohol with immediate effect.

86.To improve air connectivity, government plans to develop 25 regional airports.

87.India has signed a memorandum of understanding with the Islamic Development Bank (IDB) for a possible $100 million line of credit to simplify exports to IDB’s member countries.

88.The Union Government on 5 April 2016 constituted a high-level committee to suggest ways to strengthen the border protection along the border with Pakistan. It will also address the issue of gaps and vulnerability in border fencing along Indo-Pakistan border.

89.Mumbai has got its first air-conditioned suburban local train. which was flagged off from Integral Coach Factory in Chennai on March 31, has finally arrived in the metropolis, and its trial run would take place within a week.

90.Delhi government has passed a proposal to build a memorial for late President APJ Abdul Kalam at DilliHaat, south Delhi.

91.The World Health Day is a global health awareness day celebrated every year on 7 April, under the sponsorship of the World Health Organization (WHO) from 1950.

92.Reliance Foundation Chairperson Nita Ambani has been named the most powerful businesswoman in Asia by Forbes, leading a list of 50 women leaders from the region that includes eight from India.

93.KamlaAdvani (83-years),wife of senior BJP leader L.K. Advani died at the All India Institute of Medical Sciences (AIIMS) due to cardiac arrest.

94.The annual fees for undergraduate courses (UG) in IITs will be hiked from existing Rs. 90,000 to Rs. two lakh from upcoming academic session.

95.Iceland ruling coalition Government has named SigurdurIngi Johannsson (53- years) as the new Prime Minister after igmundur Gunnlaugsson had stepped down .

96.A three-day North East-ASEAN Business Summit begins this afternoon at the City Convention Centre in Imphal, Manipur.

97.Indian men have won the Asian Nations Cup Chess 2016 tournament with a 3-1 victory over Vietnam in the final round played in Abu Dhabi.

98.To promote the Swachh Bharat Mission, Union Urban development Minister Venkaiah Naidu inaugurated 'Namma Toilet' in the national capital Delhi.

99.Minister of State for Petroleum & Natural Gas Dharmendra Pradhan dedicated 36 new CNG stations located in Delhi and NCR to the public.

100.American multinational information technology company HR Inc (Hewlett-Packard) has launched eight new personal products including the world thinnest laptop. The laptop is having 10.4 mm thickness. According to the company ‘Spectre’ is the world’s thinnest laptop and has a battery life of up to nine and a half hours.

101.The Cabinet Committee on Economic Affairs (CCEA) cleared conversion of Working Capital Term Loan (WCTL) of Bank of Baroda's (BoB) 29.91 crore rupees loan to Andrew Yule & Co. Ltd. (AYCL) into equity shares.

102.Snapdeal has partnered with 9 non governmental organisations (NGOs) to launch Snapdeal Sunshine, a platform where users can make donations to causes under education, health, sports, women empowerment, disaster relief and old age care.

103.The veteran journalist and author Yogendra Bali has passed away on Thursday due to a heart attack. He was 85 year old.

104.American country music legend Merle Haggard died of pneumonia at his home in Northern California, the day was his 79th birthday.

105.India sat again on the top of the Credit Suisse Emerging Consumer Scorecard 2016. In accordance with the report, Indian consumers stay more optimistic about their present and future funds and moderately low inflation expectations.

106.Capital city of Manipur, Imphal, has been hosting North East-ASEAN Business Summit 2016at the City Convention Centre.

107.The Vasundhara Raje-led government has managed to pass the Rajasthan Urban Land(Certification of Titles) Bills 2016 in the state assembly.

108.On the occasion of World Health Day 2016 that was celebrated on April 7 with theme “Halt the rise: Beat Diabetes”, WHO has released its first Global Report on Diabetes.

109.Washington, D.C. Headquartered World Bank presented its ambitious climate action plan that will help nations to create an additional 30 gigawatts of renewable energy, early warning frameworks and in creating climate smart agriculture investment plans for at least 40 nations.

110.Kochi based Federal Bank has signed pact with Phillip Capital,for managing the NRI Portfolio Investment Scheme (PIS).

111.The Vietnamese parliament  elected Former deputy prime minister of Vietnam  elected Nguyen XuanPhuc as the 8th Prime Mininster of Vietname parliament . He was succeeded Nguyen Tan Dung who was removed from office on 6 April 2016.

112.Amitabh Coomar, a former divisional manager for brand marketing at ITC  has appointed as CEO of GoJavas and Jai Vohra, the Head of Marketplace at Jabong.Com will appointed as headof  the company’s Strategy and Planning functions.

113.India Open Super Series Defeat costs SainaNehwal and KidambiSrikanth dearly as the top Indian shuttlers slipped down the order in the latest BWF World ranking.

114.Kansai Nerolac Paints Ltd has signed up with the Gujarat Lions franchise as associate sponsor for the ninth edition of the Indian Premier League (IPL) which will start on April 9,2016.

115.Delhi CM, ArvindKejriwal has launched actor EmraanHashmi’s book titled, ”The Kiss of Life How a Superhero and my son defeated cancer”.

116.Merle Haggard, one of the most successful singers in the history of country music died at his farm in California on April 6, He was 79.

117.In one of the worst tragedies to hit Kerala, at least 106 people were killed and 383 injured in a devastating fire that engulfed the 100-year-old Puttingal Devi Temple complex near Kollam during an unauthorised display of fireworks early on Sunday.

118.U.S. Secretary of State John Kerry visited the revered memorial to Hiroshima's atomic bombing on Monday, delivering a message of peace and hope for a nuclear-free world seven decades after United States used the weapon for the first time in history.

119.The IMF on Sunday defended negative interest rates set by central banks, given "significant risks" of slow growth, while acknowledging potential for dangerous boom-and-bust cycles.

120.Japanese electronics giant Panasonic has appointed senior executive Manish Sharma to its global executive council, inducting an Indian onto the coveted decision-making body of the $80-billion company for the first time ever.

121.The Architect or father of the Madras Atomic Power Station (MAPS), Mr. MyneniHari Prasad Rao has passed away in Chennai. He was 88 year old. He is survived by three daughters and a son.

122.Bihar Chief Minister Nitish Kumar was on Sunday elected as the Janata Dal-United president, a move that would put him in complete command of the party as its seeks to expand beyond the state and prepares for the 2019 Lok Sabha polls.

123.US Defence Secretary Ashton Carter began a three-day visit to India on Sunday, seeking to advance a relatively new defence relationship. Washington sees India as a counterweight to the growing power of China.

124.India is ready to invest $20 billion in the development of Iran's Chabahar port and has requested it to allocate adequate land in the Chabahar Special Economic Zone (SEZ), state-run Oil and Natural Gas Corp (ONGC) said in a statement in New Delhi on Sunday.

125.German Justice Minister Heiko Maas appealed in a newspaper interview to media to hand over the Panama Papers that show how offshore firms are used to stash the wealth of the world's elite.

126.Ukrainian Prime Minister Arseny Yatseniuk tendered his resignation in a televised broadcast on Sunday and signalled support for parliamentary speaker and presidential ally Volodymyr Groysman to take over his post.

127.East Coast Railway (ECoR) has emerged as the largest freight loading railway zone of Indian Railways in 2015-16. ECoR loaded 173.49 million tonnes of freight compared to 161.91 million tonnes achieved in the corresponding period previous year and registered an increase of 7.1 per cent, its officials said.

128.Gujarat chief Minister Anandiben Patel officially launched the state-wide implementation of National Food Security Act, which has been renamed as Maa Annapurna Yojna (Scheme) by the state government.

129.Delhi girl, Priyadarshini Chatterjee was announced as the winner of FBB Femina Miss India World by Bollywood superstar Shah Rukh Khan during a star-studded ceremony.

130.Britain’s Anthony Joshua won the International Boxing Federation heavyweight title in London with a second-round knockout of Charles Martin.

131.Union government is set to issue universal identity cards to the physically challenged with the objective of providing them easy access to various benefits being extended by the government.

132.Union Power Minister Piyush Goyal laid the foundation stone for underground cabling work under Integrated Power Development Scheme (IPDS) in Varanasi. The Ministry has sanctioned Rs. 432 crores for the project.

133.Akilesh Yadav led Uttar Pradesh government has directed all the district magistrates for plantation of 5 crore trees at 6,500 sites in 24 hours on a date fixed in month of July under the ‘Green UP – Clean UP initiative .

134.The government will provide electricity to all villages in Uttar Pradesh located in remote locations and aims to provide electricity 24/7 to every household in India by 2019.

135.Prime Minister visited the Puttingal Devi temple at Kollam, following fire mishap. The mishap happened due to the display of fireworks occurred on the last day of the seven-day ‘MeenaBharani’ festivities.

136.Dubai plans to build a tower that will stand higher than its Burj Khalifa, currently the world’s tallest skyscraper, will be built by property developer Emaar. The total cost will be USD 1 billion.

137.The US Navy is leading 30-nation maritime exercise across Middle East Waters. The International Mine Countermeasures Exercise (IMCMEX) started with a conference in Bahrain.

138.India has offered to invest up to $20 billion in Iran announced by Oil Minister Dharmendra Pradha during his two day visit to Iran. This was the first visit by an Indian minister since the US and other western powers lifted sanctions against Iran in January.

139.Tamil descendent Judge Navanetham Pillay, South Africa’s first non-white woman judge who is of Indian origin, has been convened upon the highest French civilian the Legion of Honour.

140.Prime Minister Narendra Modi has inaugurated the “3rd Asia Ministerial Conference” on the Tiger Conservation in New Delhi.

141.Union Govt. has appointed senior IPS officer Ms. Meeran C. Borwankar as the Director General  in the Bureau of Police Research & Development (BPR&D).

142.The G7 Foreign Ministers' Meeting is one of the ministerial meetings that held in advance of the G7 Summit in Hiroshima on 10th & 11th April, 2016.

143.Sanmar Chemicals, India's private sector petrochemical firm, will receive Rs.1,996 crore equity investment from Fairfax India Holdings, reported Reuters.

144.India leading telecom company Bharti Airtel received its payment bank license that is had applied for in partnership with Kotak Mahindra Bank, a move that will help the companies take Indian government's financial inclusion plans to the next level.

145.Virat Kohli Named As Brand Ambassador Of Premier Futsal Football League.

146.Industry body Internet and Mobile Association of India, has appointed Paytm founder Vijay Shekhar Sharma, chairman of its the newly formed payments banks group.

147.India's men's and women's teams have won both the category’s championship titles at the third Asian Kho-Kho championship organised in Indore.

148.India and Germany signed an agreement on the implementation Agreement for Ganga Rejuvenation under the Namami Gange Programme.

149.Leading actor Ajay Devgn and his actress wife Kajol will serve as brand ambassadors of Andhra Pradesh tourism.

150.Haryana Government has decided to rename Gurgaon as Gurugram. State government also has renamed Mewat as Nuh.

151.Fitch Ratings expects India to be on the top of the global growth ladder and expanding by 7.7 per cent in the current fiscal.

152.IMF in its latest, World Economic Outlook report said, India’s growth is projected to notch up to 7.5 per cent in 2016-17, overtaking China’s GDP by more than 1 per cent.

153.The Department of Post will launch its payments bank by January next year and top management of the new-age venture would be in-place by July, a senior official said today.

154.Former Indian Army Chief General (retd.) JJ Singh was conferred with the highest French civilian distinction, Officer of the Legion of Honour.

155.Dogri Poetess and novelist Padma Sachdev (76) has been chosen for the prestigious Saraswati Samman for the year 2015.

156.India remained the world’s largest remittance recipient in 2015 despite experiencing a one billion US dollar drop from the previous year.

157.PM Narendra Modi today launched Gram Uday Se Bharat UdayAbhiyan on 125th birth anniversary of Dr. BhimRaoAmbedkar at Mhow, Madhya Pradesh.

158.Democratic presidential hopeful Bernie Sanders has won Time magazine’s readers’ poll of the world’s 100 most influential people, garnering more than three times as many votes as his rival Hillary Clinton.

159.The Republic of Nauru, a tiny South Pacific island nation in Pacific Ocean became the 189th member of the International Monetary Fund (IMF) and World Bank.

160.India ranked 44th among 50 different countries in the 2016 Global Connectivity Index (GCI) report compiled by Chinese telecom giant Huawei. United States has topped the index, Singapore ranks second and Sweden ranks third in the list.

161.Australia defeated India by 4-0 to lift ninth Sultan Azlan Shah Cup title.

162.Union Labour Minister Bandaru Dattatreya has said that the government has decided to bring out an executive order to increase minimum wages to 10,000 rupees per month for contract labourers across the country.

163.As part of its steps to support budding entrepreneurs, the government on April 21 will launch a new service, Twitter Seva, to address various queries of startups in a time bound manner.

164.The Indian Army conducted major battle exercise named as ‘Shatrujeet’ in the Thar Desert of Rajasthan near to the border with Pakistan.

165.Union government to compensate of Rs 8.5 lakh for SC/ST victim of gang rape, murder or an acid attack including 47 offen cesto get the compensation from a state government, The new rules have come into force immediately.

166.Forbes in its inaugural edition of Global Game Changers List launched this year has ranked some of the biggest names in business.

167.A US grand jury has slapped $ 940 million fine on two companies of India’s Tata group namely Tata Consultancy Services (TCS) and Tata America International Corporation.

168.Google's massive book-scanning project cleared its final legal hurdle Monday as the US Supreme Court denied an appeal contending it violates copyright law.

169.For the first time, United Nations observed the birth anniversary of Dr. BR Ambedkar.

170.The Maharashtra legislature has unanimously passed the Maharashtra Prohibition of People from Social Boycott (Prevention, Prohibition and Redressal) Bill, 2016 to end the menace social boycott practiced by extra-judicial institutions like caste and community panchayats.

171.The International Earth Day has been celebrated every year around the worldon 22nd April. This year’s theme is ‘Trees for the Earth’, it sets the goal of planting 7.8 billion trees over the next five years.

172.The Centre has decided to release 10,000 metric tonnes of pulses, mainly Tur and Urad, from buffer stock to ensure their availability at reasonable prices.

173.Chad’s veteran leader and incumbent President Idriss Deby(63-years) has won a fifth term in office after taking more than 60 percent of the vote in the first round of presidential polls.

174.Pop music superstar Prince Rogers Nelson(57-years), popularly known as Prince was found dead at his home in suburban Minneapolis.

175.Senior IAS officer of Kerala cadre A Ajith Kumar has been appointed as the chairman of Rubber Board, Kottayam, Kerala.

176.The five-time Bafta-winning actress and comedian Victoria Wood (62-years) has died at her London home after a short illness with cancer.

177.Scientists from Indian Space Research Organisation (ISRO) have indigenously developed world’s lightest synthetic material called ‘silica aerogel’ or ‘blue air’.

178.Europe has become the world’s first region to wipe out malaria with zero cases reported in the year 2015.

179.Breaking gender barrier,Indian Navy has granted permanent commission to seven Short Service Commission (SSC) women officers who joined the service in 2008-09.

180.Women were permitted entry to the ‘garbhagriha‘ of the Trimbakeshwar temple in Nashik District of Maharashtra.

181.Govt. has decided Chandigarh to host the International yoga day. The first International Day of Yoga was observed world over by millions on June 21, 2015.

182.Former WWE women’s champion and reality TV star Chyna (45-years) real name Joanie Laurer has died at her home in Southern California.

183.The Union Cabinet has given its approval for operationalisation of new Indian Institute of Science Education and Research (IISER) at Tirupati, Andhra Pradesh.

184.India and China have agreed to adhere to peaceful negotiations to settle the border issue and reach a fair, reasonable and mutually acceptable solution.

185.President Pranab Mukherjee honoured the Chinese professor GeFuping with the George Grierson prize for his remarkable works done for the propagation of Hindi abroad.

186.The Uttarakhand high court on revoke the imposition of President’ rule in the state and revived the Congress government headed by Harish Rawat, who has been asked to prove his majority on 29 April.

187.Union Government has notified that the Department of Disinvestment is renamed as Department of Investment and Public Asset Management (DIPAM).

188.The Board of Control for Cricket in India (BCCI) has announced Rahul Johri as its first-ever chief executive officer (CEO).

189.US President Barack Obama has nominated Indian-American Geeta Pasi as the country’s next envoy to central African nation Chad.

190.Laos’s National Assembly appointed Communist Party chief Bounnhang Vorachit as the country’s new president and named foreign minister Thongloun Sisoulith as prime minister.

191.The Goa govt. has appointed former Chief Justice of Patna High Court Justice P.K. Mishra, as Lokayukta of the State.

192.China has suspended an international anti-corruption task force earlier this year after taking over the G-20 presidency.

193.PM Narendra Modi dedicated the Shri Mata Vaishno Devi Narayana Super speciality Hospital to the people of Jammu and Kashmir in Katra belt of Reasi district. 

194.Gujarat government has announced exemption to small salt producers from industrial salt VAT.

195.The govt. has merged Rajiv Gandhi KhelAbhiyan (RGKA) with the Khelo India programme for development of sports.

196.Wholesale price-based inflation remained in negative territory for the 17th month in a row, at minus 0.85 per cent in March this year.

197.Renowned Hollywood actress Doris Roberts(90-years) passed away in Los Angeles in her sleep. She was best known for playing meddling mother Marie Barone in US sitcom Everybody Loves Raymond (1996–2005).

200.Ace tennis Player Rafael Nadal from Spain beat the defending champion, Kei Nishikori (6-4, 7-5) to win the Barcelona Open Tennis 2016 for the ninth time. With this victory, Nadal has equalled Guillermo Vilas’ (Argentina) decade’s old record of 49 clay-court titles. Rafael Nadal has won 14 Grand Slam singles titles, 28 titles in ATP World Tour Masters 1000 events and 16 ATP World Tour 500 tournaments. 

202.World Malaria Day (WMD) is being observed every year on 25 April across the world to recognise the global efforts to control preventable vector borne disease malaria. The World Malaria Day was established by the 60th session of the World Health Assembly, a decision-making body of World Health Organization (WHO) in May 2007.

203.Every year April 24 is being observed as National Panchayati Raj (PR) Diwas across India. On the occasion of National Panchayati Raj Diwas, PM Narendra Modi has addressed the Panchayat across the country from Jamshedpur (Jharkhand). Panchayat Raj system was first adopted by the state of Rajsthan in Nagaur district on 2nd Oct 1959.

204.Former Congolese Finance Minister Mouamba Clement has been appointed as as the new Prime Minister of the central African country. He will be responsible for forming a government in consultation with the president in accordance with the 25 October 2015 constitution. Earlier,Sassou Nguesso had led Congo between 1979 and 1992 and again had returned to power after a civil war in 1997.

205.The Union Social Justice and Empowerment Ministry has notified new rules on Babasaheb Ambedkar’s birth anniversary to give effect amended Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act, 1989 to ensure speedy justice to members of the SC/ST community. The new rule includes the provision of completing an investigation and filing a charge sheet in the court within 60 days of the filing of complaint by a member of SC/ST community. There is also provision of relief for offences of rape and gang rape, introduced for the first time.

206.India will host the 2018 Commonwealth Judo Championships in Jaipur. The Commonwealth Judo Championships had allotted to India, by the Commonwealth Judo Congress held at Port Elizabeth, South Africa. This will be the first time that Commonwealth Judo Championships will be held in India.

207.The BCCI is all set to host its first-ever day and night cricket Test with the pink ball when New Zealand tour India. Before that, Duleep Trophy will act as a dress rehearsal for the day-night Test match. The main objective of the Duleep Trophy will be to check how the pink kookaburra behaves under the light in sub-continental conditions.

208.Indian shooter Mairaj Ahmed Khan (40-years) has won the silver medal in the Men’s Skeet event of the ISSF Shooting World Cup in Rio De Janerio. Mairaj’s feat, gave India its first skeet medal at a World Cup. Earlier,he became India’s first ever skeet shooter to win an Olympic quota place after finishing at sixth place in last year’s ISSF Shotgun World Cup in Italy.

209.Sushila Karki has become the first female acting Chief Justice of Nepal’s Supreme Court ending the male domination in higher posts in the judiciary. She replaced Kalyan Shrestha.

210.People in Kerala are celebrating the harvest festival, Vishu . Devotees across the state are visiting temples, performing special pujas and exchanging gifts to mark the occasion.

211.Every year World Intellectual Property Day (WIPD) is being observed on 26 April to highlight importance of intellectual property rights (patents, trademarks, industrial designs, copyright) in encouraging innovation and creativity.

212.Union Sports Ministry has decided to provide one lakh rupees per month as out of pocket allowance to the sports persons under the Target Olympic Podium (TOP) scheme in their preparation for the Olympics and Paralympics Games at Rio de Janeiro.

213.Haryana Government has decided to give free laptops to first 500 meritorious students, who would secure a minimum of 95%  marks in annual Board examination of Class X in 2016-17.

214.Taxi operator Uber has partnered with Election Commission in Tamil Nadu to spread awareness on voting among the electorate for the May 16 assembly polls.

215.Heart of Asia (HoA) conference begins in New Delhi. The conference is with the objective of bringing peace and stability to Afghanistan and speeding up its reconstruction with a focus on enhancing investment and connectivity to the country.

216.The Western Railway has launched a unique service through which commuters would be able to know the running status of local trains from simply giving a missed call.

217.The Union Govt. has recently constituted 8-member inter-ministerial Ashok Dalwai committee to prepare a blueprint for doubling farmer’s income by 2022.

218.Parliament has passed the Sikh Gurdwaras (Amendment) Bill, 2016 to remove given to Sahjdhari Sikhs to vote in the elections to members of the Board and the Committees.

219.Finance Ministry has approved 8.7 per cent interest on Provident Fund deposits for over five crore subscribers of Employee Provident Fund Organisation, EPFO for 2015-16.

220.Indian rower Dattu Bhokanal qualified for the Rio Olympics after winning a silver in the finals of men’s single sculls at the 2016 FISA Asian and Oceania Olympic Qualification Regatta at Chung-ju in South Korea.

221.Riyad Mahrez has become the first African football player ever to receive the Professional Footballers’ Association Player of the Year award.

222.Global data analytics company Experian, launched its ‘Hunter Fraud Score’, a new scoring mechanism that measures the probability of fraud in a credit application across banking and insurance industries.

223.The Tibetan government-in-exile re-elected Lobsang Sangey as the Prime Minister for a second consecutive term.

224.Income Tax department will now add interest amount to a delayed refund made on excess Tax Deducted at Source (TDS) deductions and will also not litigate with the deductor on this issue in the future.

225.India’s Deepika Kumari has equalled the world record in Women’s Recurve event at the qualifying stage of Archery World Cup being held in Shanghai.

226.The Union Railway Ministry has decided to create a 1 lakh crore rupees safety fund named Rashtriya Rail SanrakshaKosh to strengthen safety measures on the rail network to prevent accidents.

227.Badminton ace Nandu Natekar has been inducted into the Legends Club, founded by the late Cricket Club of India president Raj Singh Dungarpur.

228.The former prime minister of Thailand, Banharn Silpa-archa was passed away in Bangkok. He was 83.

229.New Zealand’s Kane Williamson was named the Wisden’s Leading Cricketer in the World for the year 2015.

230.For the first time, United Nations observed the birth anniversary of Dr. BR Ambedkar on 14th April.

231.Road Transport and Highways Minister Nitin Gadkari has said government plans to make it mandatory to set aside one per cent of total cost of any highway project for road safety.

232.Jammu and Kashmir(J&K) govt. has approved 5% interest subvention to flood-hit traders with effect from 1st April this year.

233.Renowned Kerala cartoonist V T Thomas passed away in Kottayam, Kerala. He was popularly known as Toms and had created the legendary cartoon characters Boban and Molly (Bobanum Moliyum).

234.India has successfully put into orbit its seventh and final navigation satellite( IRNSS-1G) with its own rocket PSLV C 33.

235.Renowned artist Sudarsan Pattnaik (39-year) has won the gold medal at ninth Moscow Sand Sculpture Championship at Russia.

236.South Africa's great bowler Allan Donald has been appointed as bowling coach of Australia cricket team for their upcoming tour of Sri Lanka, while Stuart Law will mentor the batsmen.

237.New Zealand have appointed Kane Williamson as their captain in all three formats of the game (cricket).


238.Former Sri Lanka captain Sanath Jayasuriya has been reappointed as the country’s chief selector, a little more than a year after he stepped down from the position.
What is Non Performing Assets (NPA)?

A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.

Description: Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets.

1. Substandard assets: Assets which has remained NPA for a period less than or equal to 12 months.

2. Doubtful assets: An asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months.

3. Loss assets: As per RBI, "Loss asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted, although there may be some salvage or recovery value."
Current Affairs (Daily Dose):

1.Nagaland’s capital Kohima has been declared as a ‘smoke-free city’.

2.The Railway Ministry has decided to set up two new Directorates tasked with increasing the speed of trains and boosting non-fare revenues and advertisement.

3.Senior IPS officer (1982 batch) of Uttara khand cadre Surender Kumar Bhagat has been appointed as the Director General (DG) of Railways Protection Force (RPF).

4.The Election Commission of India has launched an innovative mobile application titled “e-voter” with comprehensive details about the coming assembly polls in Kerala.

5.Russia has successfully launched the first rocket from its newly built Vostochny Cosmodrome in the Amur Oblast, in Russian Far East region bordering China.

6.Indian Naval Ships (INS) Veer and Nipat were decommissioned at the Naval Dockyard in Mumbai, Maharashtra.

7.Gujarat Government will issue an ordinance on 1st May to provide 10% reservation to economically backwards of higher caste.

8.China has developed the world’s first graphene electronic paper which will catapult the material to a new level.

9.Chief Minister Naveen Patnaik of Odisha dedicated to the people 100 piped water supply projects for rural areas and pledged to make piped water provision in all gram panchayats by 2017.

10.Garima Chaudhary has won gold medal (63-kg junior category)at the 2016 Commonwealth Judo Championship finals at Port Elizabeth in South Africa.

Friday, 29 April 2016

What is 'Trade Deficit'?

Trade deficit is an economic measure of a negative balance of trade in which a country's imports exceeds its exports. A trade deficit represents an outflow of domestic currency to foreign markets.

Explanation: Economic theory dictates that a trade deficit is not necessarily a bad situation because it often corrects itself over time. However, a deficit has been reported and growing in the United States for the past few decades, which has some economists worried. This means that large amounts of the U.S. dollar are being held by foreign nations, which may decide to sell at any time. A large increase in dollar sales can drive the value of the currency down, making it more costly to purchase imports.
Current Affairs (Daily Dose):

1.Road Transport and Highways Minister Nitin Gadkari has said government plans to make it mandatory to set aside one per cent of total cost of any highway project for road safety.

2.Jammu and Kashmir(J&K) govt. has approved 5% interest subvention to flood-hit traders with effect from 1st April this year.

3.Renowned Kerala cartoonist V T Thomas passed away in Kottayam, Kerala. He was popularly known as Toms and had created the legendary cartoon characters Boban and Molly (Bobanum Moliyum).

4.India has successfully put into orbit its seventh and final navigation satellite( IRNSS-1G) with its own rocket PSLV C 33.

5.Renowned artist Sudarsan Pattnaik (39-year) has won the gold medal at ninth Moscow Sand Sculpture Championship at Russia.

6.South Africa's great bowler Allan Donald has been appointed as bowling coach of Australia cricket team for their upcoming tour of Sri Lanka, while Stuart Law will mentor the batsmen.

7.New Zealand have appointed Kane Williamson as their captain in all three formats of the game (cricket).

8.Former Sri Lanka captain Sanath Jayasuriya has been reappointed as the country’s chief selector, a little more than a year after he stepped down from the position.

Thursday, 28 April 2016

Some Important Synonyms and Antonyms:

S.No. Words – Synonyms (Antonyms)

1. Enormous – colossal, mammoth (diminutive, negligible)
2. Endeavour – undertake, aspire (cease, quit)
3. Encumbrance – hindrance, obstacle (incentive, stimulant)
4. Eloquence – expression, fluency (halting, stammering)
5. Eliminate – expel, oust (restore, accept)
6. Elevate – dignify, heighten (deprecate, denounce)
7. Efface – destroy, obliterate (retain, maintain)
8. Ecstasy – delight, exultation (despair, calamity, depression)
9. Eccentric – strange, abnormal (natural, conventional)
10. Fabricate – construct, produce (destroy, dismantle)
11. Frugality – economy, providence (lavishness, extravagance)
12. Frivolous – petty, worthless (solemn, significant)
13. Frantic – violent, agitated (subdued, gentle)
14. Fragile – weak, infirm (enduring, tough)
15. Forsake – desert, renounce (hold maintain)
What is Antivirus program?

Alternatively referred to as an antivirus software, AVS, antivir, or just AV. An antivirus program is a software utility designed to protect your computer or network against computer viruses. If and when a virus is detected, the computer displays a warning asking what action should be done, often giving the options to remove, ignore, or move the file to the vault.
If a virus infected a computer without an antivirus program, it may delete files, prevent access to files, send spam, spy on you, or perform other malicious actions.
What is a 'Liability'?

A liability is a company's legal debt or obligation that arises during the course of business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.

Explanation: Recorded on the balance sheet (right side), liabilities include loans, accounts payable, mortgages, deferred revenues and accrued expenses. Liabilities are a vital aspect of a company's operations because they are used to finance operations and pay for large expansions. They can also make transactions between businesses more efficient. For example, the outstanding money that a company owes to its suppliers would be considered a liability.

Outside of accounting and finance this term simply refers to any money or service that is currently owed to another party. One form of liability, for example, would be the property taxes that a homeowner owes to the municipal government.

Current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period.
Current Affairs (Daily Dose):

1.Riyad Mahrez has become the first African football player ever to receive the Professional Footballers’ Association Player of the Year award.

2.Global data analytics company Experian, launched its ‘Hunter Fraud Score’, a new scoring mechanism that measures the probability of fraud in a credit application across banking and insurance industries.

3.The Tibetan government-in-exile re-elected Lobsang Sangey as the Prime Minister for a second consecutive term.

4.Income Tax department will now add interest amount to a delayed refund made on excess Tax Deducted at Source (TDS) deductions and will also not litigate with the deductor on this issue in the future.

5.India’s Deepika Kumari has equalled the world record in Women’s Recurve event at the qualifying stage of Archery World Cup being held in Shanghai.

6.The Union Railway Ministry has decided to create a 1 lakh crore rupees safety fund named Rashtriya Rail SanrakshaKosh to strengthen safety measures on the rail network to prevent accidents.

7.Badminton ace Nandu Natekar has been inducted into the Legends Club, founded by the late Cricket Club of India president Raj Singh Dungarpur.

8.The former prime minister of Thailand, Banharn Silpa-archa was passed away in Bangkok. He was 83.

Wednesday, 27 April 2016

What is a 'Deficit'?

A deficit is the amount by which a resource falls short of a mark, most often used to describe a difference between cash inflows and outflows. Deficit is the opposite of surplus and is synonymous with shortfall or loss.

Explanation: The term deficit is generally prefixed by another term to refer to a specific situation, a trade deficit or budget deficit, for example.

A trade deficit exists when a nation has exports of $2 billion and imports of $3 billion in a given year. The country’s deficit is at $1 billion for that year.

A budget deficit occurs when a government has revenues lower than its expenditures. Lets say a small country has $10 billion worth of revenue for a year and its expenditures were at $12 billion for that same year, it would be running a deficit of $2 billion.

An income deficit isn’t quite the same as a budget or trade deficit. A measurement used by the U.S. Census, an income deficit is the dollar amount by which a family’s income falls short of being at or above the poverty line. If the poverty line is $17,000 a year for a family of three, and the family income is at $15,000, then the family’s income deficit is $2,000.

Primary and Total Deficits:

While there are different types of deficits depending on context, even within a specific context there are different ways to measure deficit. When measuring a government deficit, there are two different ways to measure.

Primary deficit refers to the deficit without including interest payments on loans taken out to finance the operation of the government.

Total deficit measures the deficit while including interest payments on loans taken out to finance the operation of the government as well as the interest on the loans.

The size of these deficits can vary depending on the economic and political climate. If a country economy is expanding, increased tax receipts and other inflows of government income will reduce or eliminate government deficits and may lead to government surpluses. Specific goods can be taxed at higher rates, like in OPEC nations or Norway and Russia where oil and gas play important roles in the funding of public spending.

Intentionally Running a Deficit:

It’s not uncommon that in a recession, a government will intentionally run a deficit. The theory behind running a deficit is that by reducing taxes and increasing spending on infrastructure while maintaining government programs and expenditures, the public’s purchasing power will be increased and can then stimulate the economy. While running a deficit, a government can finance its expenditures with bonds, or from loans from foreign countries.

This tactic is by no means universally agreed upon. The Ricardian equivalence hypothesis, originally brought up by member of Parliament and economist David Ricardo, argues that households, anticipating a rise in taxes in the future necessary to pay current government deficits will keep money saved instead of spending it. However, for Ricardian equivalence to apply, the deficit spending would have to be permanent as opposed to a one time stimulus through deficit spending.

Another hypothesis, called crowding out says that when a government borrows to offset the deficit they’re running, interest rates rise as a response to increased demand, decreasing the incentive for private investment.

The experience of governments that have run persistent deficits in the 20th and 21st centuries have complicated the Ricardian and neo-classical analyses of the effect of government debt on economic activity. The Great Recession, which drove up government deficits across the world from 2008 to 2013, led many neo-classical economists to speculate that government budgets would collapse under the weight of persistent spending deficits. In a particularly famous case, the Harvard economists Carmen Reinhart and Kenneth Rogoff predicted in 2010 that government debt above 90% of GDP would actively retard economic growth. Researchers at the University of Massachusetts discovered a coding error in the Excel spreadsheet Reinhart and Rogoff used that invalidated their original conclusion.

Deficit and Risk:

It used to be that government budget deficits were financed exclusively by loans from private investors and foreign countries. These loans were often seen as holding a lot of risk for the lender seeing that they were often both large and long-term. When governments began to issue bonds, which could be payable to bearer, it enabled the original lender could sell the debt - reducing risk and interest rates.

If a deficit is large enough, it can over a number of years can wipe out equity for an individual or a company's shareholders, eventually leaving bankruptcy as the only option. Although sovereign governments have a much greater capacity to sustain deficits, negative effects in such cases include lower economic growth rates (in case of budget deficits) or a devaluation of the domestic currency (in case of trade deficits).