DAILY CURRENT AFFAIRS 25 JUNE 2020
1. LARGEST ECONOMY ON PPP BASIS FOR 2017
·
In
accordance with the World Bank Data under the International Comparison Program
(ICP), revealed by India’s National Statistical Office (NSO) of Ministry of
Statistics & Programme Implementation (MoSPI), India has retained its
position as the third-largest economy in terms of purchasing power
parity (PPP) for 2017 as it accounted for 6.7% or $8,051 billion out
of world total of $119,547 billion of global Gross Domestic Product (GDP).
·
India
has followed China (16.4%) and the United States-US (16.3%) which
ranked 1st and 2nd respectively.
·
It
states that exchange rates between currencies are in equilibrium when their
purchasing power is the same in each of the two countries.
·
For
example- How much milk that Rs 75 can purchase in India and One Dollar can
purchase in the US. On this basis (PPP) the GDP of India is measured.
2. COVID-19 TO PUSH ADDITIONAL 120 MILLION CHILDREN
INTO POVERTY IN SOUTH ASIA
·
The
United Nations Children’s Fund (UNICEF) released its first
report titled “Lives Upended How COVID-19 threatens the futures of 600 million
South Asian children” focusing on the South Asian region on the impacts of
COVID-19 on children states that around 240 million children are classified as
poor and the current COVID-19 situation will affect an additional 120 million
children, a total of 360 million children will be pushed into poverty and food
insecurity in the next 6 months.
3. US GOVT SECURITIES WITH HOLDINGS
·
In
accordance with the data from the United States (US) Treasury Department, India
became the 12th largest holder of US government securities at the end of April,
2020 with holdings of worth $157.4 billion, which has increased marginally by
$0.9 billion in comparison to March month’s $156.5 billion.
·
Notably,
the holding touched a record high of $177.5 billion in February, 2020 which was
drastically reduced in March.
|
Rank
|
Country
|
US Govt Securities Holdings US$
|
|
1
|
Japan
|
1.266 trillion
|
|
2
|
China
|
1.073
trillion
|
|
3
|
UK
|
368.5 billion
|
·
The
US dollar/ Treasury Securities (Bills, Notes, Bonds, Inflation-Protected
Securities) backed by the US treasury department are one of the safest asset
class for any central bank with regards to investment, despite getting the
lowest returns.
4. WORLD’S FIRST GOLD-BACKED US DIGITAL GOLD CURRENCY
LAUNCHED IN INDIA
·
IBMC
Financial Professionals Group in
partnership with US Gold Currency Inc and Blockfills introduced
the world’s first monetary gold-backed US Gold digital currency in India, Gulf
Cooperation Council (GCC), Middle East and Africa.
·
Each
US Gold digital currency is backed by a US American Eagle one ounce
(33.931 gram) gold coin, minted by the US Federal Agency, US
Mint.
·
The
holders of the currency can redeem their digital assets as physical gold coin
or in US dollars anywhere in the world.
·
US
Gold Currency, Inc. provides the American Gold Eagle coin in a Digital
Blockchain Receipt – the “US Gold Token”, each one fully collateralized 1:1
with a 1oz American Gold Eagle coin. Referred to as “USG” – for the US Gold
Dollar.
5. YUKTI 2.0 FOR HIGHER EDUCATION INSTITUTES
·
Ramesh
Pokhriyal ‘Nishank’, The Union Minister of Human Resource Development,
launched “YUKTI 2.0” – (Young India combating
COVID with Knowledge, Technology and Innovation 2.0) , a platform to support
the startups incubated in the institutes of higher education over the
virtual platform.
·
YUKTI
2.0 is a logical extension of YUKTI, which will help in fostering the innovation
and entrepreneurship culture in the academic institutions.
·
This
will support the “Atmanirbhar Bharat” mission.
6. HOLLYWOOD DIRECTOR JOEL SCHUMACHER PASSED AWAY
·
Costume
designer cum Film Director Joel Schumacher who suffered from cancer for the
past one year passed away at the age of 80 in New York, United States of
America(USA).
·
His
most well known directed movies are St Elmo”s Fire”, “Falling Down” as well as
two “Batman” movies
7. GOVERNMENT OF HARYANA SIGNED MOU RELIANCE JIO TV
·
Kanwar
Pal, Education Minister of Haryana announced that The Government of
Haryana under the Chief Minister’s Distance Education
Programme signed an agreement with Reliance Jio TV to
benefit around 52 lakh rural students during the COVID-19 pandemic.
·
The four
channels of EDUSAT can be accessed through television, Laptop,
desktop, tablets and smartphones for free of cost which will be available on
the Jio platform.This will also provide materials for the students preparing
for competitive exams like JEE (Joint Entrance Examination)
and NEET (National Eligibility cum Entrance Test).
