Current Affair 1:

Currency in Circulation’ (CIC) to GDP Ratio

 

Currency in Circulation (CIC) includes notes in circulation, rupee coins and small coins. Rupee coins and small coins include the ten-rupee coins issued since October 1969, two-rupee coins issued since November 1982 and five-rupee coins issued since November 1985.

Data indicates that CIC increased year-on-year in terms of both value and volume. The ratio of CIC to Gross Domestic Product (GDP) considers the size of the Indian economy.

In the last decade, the trend in currency to GDP ratio reveals that there has been an overall increase in the last decade, from 12% in 2012-13 to 13.7% in 2021-22.

However, the Currency-GDP ratio which was 12.1% by the end of 2015-16 when the demonetization took place, dropped to 8.7% by the end of 2016-17. However, it has improved in the subsequent years, even overtaking the figure of the years before demonetization. In 2020-21, the ratio was 14.4%, up from 12.2% in 2019-20. This is the highest in the decade. By the end of 2021-22, the ratio declined to 13.7%. It remains to be seen if this trend continues in the coming years as economic activities rebound to pre-pandemic levels.

Current Affair 2:

Food and Agriculture for Sustainable Transformation Initiative – FAST

 

The COP27 Presidency launches the Food and Agriculture for Sustainable Transformation (FAST), to improve the quantity and quality of climate finance contributions to transform agriculture and food systems by 2030, supporting adaptation and maintaining a 1.5-degree pathway whilst supporting food and economic security.

FAO, in collaboration with other UN agencies, will play the role of a neutral facilitator, providing the objectivity, independence and credibility that are prerequisites for the success of the FAST initiative.

 

Current Affair 3:

The Global Carbon Project

 

The Global Carbon Project (GCP) integrates knowledge of greenhouse gases for human activities and the Earth system. Our projects include global budgets for three dominant greenhouse gases — carbon dioxide, methane, and nitrous oxide — and complementary efforts in urban, regional, cumulative, and negative emissions.

Recent reports highlights:

Current Affair 4:

Vikram-S: India’s First Privately Developed Rocket

 

India’s first private rocket was launched Friday at 11.30 am by Skyroot Aerospace, with support from the Indian Space Research Organisation (ISRO), from the Sriharikota launch pad. The historic mission, titled Prarambh (the beginning), saw the rocket Vikram-S (VKS) perform a suborbital flight with three customer payloads, and tested and validated the rocket’s technology.

The rocket flew to an altitude of 81.5 km, before splashing down in the Bay of Bengal. The success of the flight, made Hyderabad-based Skyroot Aerospace the very first private company in India to launch a rocket.

The launch was authorised and facilitated by IN-SPACe, ISRO’s new regulatory authority tasked with facilitating ISRO resource support for private startups in the country.

 

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