Daily Current Affairs Update - 31 January, 2017

Hello and welcome to exampundit. Here are the important Current Affairs of 31 January, 2017 for General Awareness section in the Banking and Insurance Exams 2017. These are important for the upcoming Syndicate PGDBF and other insurance exams.


Daily Current Affairs at a Glance - 31 January, 2017
  1. Union finance minister Arun Jaitley on Tuesday tabled the Economic Survey 2016-17 in Parliament budget session. The survey projects the economy to grow in the range of 6.75% to 7.25% in the next fiscal year 2017-18 in the post-demonetisation year. The survey prepared by chief economic adviser in the finance ministry Arvind Subramanian said the adverse impact of demonetisation on GDP growth will be transitional. The Economic Survey 2016-17 advocates the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty.
  2. The Bombay Natural History Society (BNHS) has launched climate change programme to assess the status, distribution and conservation of finches and pheasants in the Central Himalayas.
  3. India’s first dedicated space observatory ASTROSAT has captured the rare phenomenon of a 6 billion year old Vampire star preying on a bigger celestial body. The Findings were published in the journal Astrophysical Journal Letters in the fourth week of January 2017.
  4. The Union Government on 30 January 2017 launched nationwide Sparsh Leprosy Awareness Campaign (SLAC). The Campaign was launched on the occasion of Anti-Leprosy Day.
  5. Chad's Moussa Faki Mahamat on 30 January 2017 was elected as the Chairman of the African Union (AU) Commission.



Financial News:

Economic Survey 2016-17 – Highlights


  • Union finance minister Arun Jaitley on Tuesday tabled the Economic Survey 2016-17 in Parliament budget session. The survey projects the economy to grow in the range of 6.75% to 7.25% in the next fiscal year 2017-18 in the post-demonetisation year.
  • The survey prepared by chief economic adviser in the finance ministry Arvind Subramanian said the adverse impact of demonetisation on GDP growth will be transitional. The Economic Survey 2016-17 advocates the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty.

Here are the major highlights from the Economic Survey 2016-17:
  • Gross domestic product (GDP) growth in 2016-17 to dip to 6.5%, down from 7.6% in last fiscal.
  • Economic growth to rebound to 6.75 to 7.5% in 2017-18.
  • Economic Survey sees fiscal windfall from Pradhan Mantri Garib Kalyan Yojana, low oil prices.
  • Farm sector to grow at 4.1% in the current fiscal, up from 1.2% in 2015-16.
  • Fiscal gains from Goods and Services Tax (GST) will take time to realise.
  • Growth rate of industrial sector estimated to moderate to 5.2% in 2016-17 from 7.4% last fiscal.
  • The survey prepared by Chief Economic Adviser in the finance ministry Arvind Subramanian said the adverse impact of demonetisation on GDP growth will be transitional.
  • The Economic Survey 2016-17 has advocated the concept of Universal Basic Income (UBI) as an alternative to the various social welfare schemes in an effort to reduce poverty. In his budget speech earlier this month, J&K finance minister Haseeb Drabu said he would want to create a social security fund and provide a UBI to all those living below the poverty line through a direct benefit transfer system.

 Download the economic survey PDF from here.


Non-financial news – India and states:

BNHS launches climate change programme in Central Himalayas


  • The Bombay Natural History Society (BNHS) has launched climate change programme to assess the status, distribution and conservation of finches and pheasants in the Central Himalayas.
  • The first study will be funded by Oracle and facilitated by CAF-India.
  • Currently, there are nearly 50 species of pheasants and 62 species of finches in the Indian subcontinent.
  • Several of these species are listed under the ‘Globally Threatened’ category created by the International Union for Conservation of Nature (IUCN).
  • Shrinking habitat as a result of climate change and several biotic factors along with poaching and trapping have pushed both these groups to almost extinction.
  • While species that are capable of adapting to the change will survive, those that are habitat specialist and sensitive to temperature will suffer.


Vampire star caught in the act by Indian space observatory ASTROSAT


  • India’s first dedicated space observatory ASTROSAT has captured the rare phenomenon of a 6 billion year old Vampire star preying on a bigger celestial body. The Findings were published in the journal Astrophysical Journal Letters in the fourth week of January 2017.
  • The findings were made by a team of scientists from IIA, Inter-University Centre of Astronomy and Astrophysics (IUCAA), Tata Institute of Fundamental Research (TIFR), Indian Space Research Organisation (ISRO) and the Canadian Space Agency (CSA).
  • The observation of the entire Vampire star phenomenon was made through the telescope. The data from six filters of UVIT telescope were used to estimate the precise temperature of the companion star. This was possible only due to the excellent capability of the UVIT telescope.
  • The information captured will now provide valuable insights to help scientists in studying the formation of blue straggler stars.


Union Government launches Sparsh Leprosy Awareness Campaign


  • The Union Government on 30 January 2017 launched nationwide Sparsh Leprosy Awareness Campaign (SLAC). The Campaign was launched on the occasion of Anti-Leprosy Day.
  • The Anti-Leprosy Day is observed annually in the memory of Mahatma Gandhi to rememorize his selfless efforts and care for the people affected by leprosy.
  • The Sparsh Leprosy Awareness Campaign aims at communicating the importance of early detection and treatment of leprosy.
  • Under the campaign, nationwide Gram Sabhas will be organised in cooperation and coordination with allied sector of health department/ministries.


Appointments – India and World:

Dushyant Chautala appointed President of Table Tennis Federation of India

  • Dushyant Chautala on 30 January 2017 was appointed the President of the Table Tennis Federation of India (TTFI).
  • Chautala is the youngest president of the apex body. His term, which is for four years, extends until 2021.
  • The appointment was made following the Annual General Body meeting.
  • Along with Chautala, M.P. Singh was appointed as the Secretary General, and Arun Kumar Banerjee took over as the Treasurer.
  • In addition, eight Vice-Presidents, four joint secretaries and five out of eight Executive Committee members, were nominated and filled as per the TTFI constitution. The other three vacant slots in the Executive Committee were left to be chosen by the new TTFI chief.


Moussa Faki Mahamat appointed Chairman of African Union Commission


  • Chad's Moussa Faki Mahamat on 30 January 2017 was elected as the Chairman of the African Union (AU) Commission.
  • Mahamat was elected through a voting held at the bloc's headquarters in the Ethiopian capital, Addis Ababa.
  • Mahamat defeated favourites Amina Mohamed of Kenya and Senegal's Abdoulaye Bathily after seven rounds of voting.
  • The Chadian diplomat succeeds South Africa's Nkosazana Dlamini-Zuma, the first woman to lead the AU.








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