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Economic and Business current Affairs July 23 2013



Economist Vallabh Das Mehta passes away
Gandhian thinker and well-known economist, Dr Vallabh Das Mehta died here after prolonged illness. He was 84
The economist had written a number of books and had been honoured for his work in the educational field. Dr Mehta retired from the Hamidia College in 1991


Southwest Airlines Boeing 737 collapses in a nose-first landing at New York airport
Eight people were injured after the front landing gear of a Southwest Airlines plane with 150 people on board collapsed on landing at New York's La Guardia airport.
The accident yesterday left the Boeing 737-700 with its nose resting against the runway and forced the temporary closure of the airport, which mostly handles flights to and from other US cities.
The airline confirmed that emergency services had helped with the evacuation of the passengers and crew of flight 345 from Nashville.

 

Poverty declines to 21.9% in the country in 2011-12

Poverty Ratio
 

Year

Urban

Rural

Overall

Actual Number

2011-12

13.7

25.7

29.1

26.93 crore

2004-05

25.7

41.8

37.2

40.71 crore


Suresh Tendulkar Committee: Methodology: In 2011-12 for rural areas, the national poverty line is estimated at Rs 816 per capita per month in villages and Rs 1,000 per capita per month in cities. This would mean that the persons whose consumption of goods and services exceed Rs 33.33 in cities and Rs 27.20 per capita per day in villages are not poor.
The Commission said that for a family of five, the all India poverty line in terms of consumption expenditure would amount of Rs 4,080 per month in rural areas and Rs 5,000 per month in urban areas.

Poverty ratio Cities Having Highest Poverty Ratio
Chhattisgarh at 39.93 per cent
Jharkhand (36.96%),
Manipur (36.89%),
Arunachal Pradesh (34.67%)  
Bihar (33.47%).

Among the union territories:
Dadra and Nagar Haveli (39.31%)
Chandigarh at (21.81%).

Cities Having Least Poverty Ratio
Goa (5.09%)
Kerala (7.05%)
Himachal Pradesh (8.06%)
Sikkim (8.19%), Punjab (8.26%)
Andhra Pradesh (9.20%).

 

ECB balance sheet shrinks to 2.4 trillion euros

The balance sheet of the European Central Bank and the euro zone's 17 national central banks shrank by 4.374 billion euros ($5.77 billion) to 2.399 trillion in the week ending July 19.
Gold holdings remained unchanged at 319.968 billion euros, the ECB said in its weekly consolidated financial statement. Net foreign exchange reserves in the Eurosystem of central banks were unchanged at 212.1 billion euros.

 

Indian-origin peer, Ajay Kakkar, appointd to Lords post Indian-origin peer
Ajay Kakkar has been made the chairman of the influential House of Lords
Appointed by: British Prime Minister David Cameron.
Term: Single non-renewable term of five years
Effective from: October 1.
Commission's Role: To select new independent members of the House of Lords and to vet party-political nominations put forward by the political parties.
Brief about Ajay Kakkar: Lord Kakkar is Professor of Surgery at University College London (UCL) and Consultant Surgeon University College London Hospitals NHS Foundation Trust since 2011.
His research interests focus on the prevention and treatment of venous and arterial thromboembolic disease and cancer associated thrombosis.
He was appointed an independent non-party-political peer by the House of Lords Appointments Commission in 2010 and is a member of EU Sub-Committee B.
He is chair of the Health Honours Committee, a member of the General Medical Council (GMC) and a Commissioner of the Royal Hospital in Chelsea.

 


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