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Consumer Confidence Survey (CCS) by the RBI The highlights of the Consumer Confidence Survey (CCS) were recently released by the RBI pointing to some all-time lows. Consumer Confidence Survey (CCS) The RBI conducts this survey every couple of months by asking households in 13 major cities such as Ahmedabad, Bhopal, Guwahati, Patna, Thiruvananthapuram about their current perceptions and future expectations on a variety of economic variables. These variables include the general economic situation, employment scenario, overall price situation, own income and spending levels. Based on these specific responses, the RBI constructs two indices: the Current Situation Index (CSI) and the Future Expectations Index (FEI). The main variables of the survey are- Economic situation, Employment, Price Level, Income and Spending. The CSI maps how people view their current situation (on income, employment etc.) vis a vis a year ago. The FEI maps how people expect the situation to be (on the same variables) a year from now. By looking at the two variables as well as their past performance, one can learn a lot about how Indians have seen themselves fairing over the years. Why does it matter? The CCS is a survey that indicates how optimistic or pessimistic consumers are regarding their expected financial situation. If the consumers are optimistic, spending will be more, whereas if they are not so confident, then their poor consumption pattern may lead to recession.  What was the main finding? As Chart 1 shows, the CSI has fallen to an all-time low of 48.5 in May. An index value of 100 is crucial here, as it distinguishes between positive and negative sentiment. At 48.5, the current consumer sentiment is more than 50 points adrift from being neutral the farthest it has ever been. It is important to note that even a year ago, the CSI had hit an all-time low. The FEI moved to the pessimistic territory for the second time since the onset of the pandemic. What are the factors responsible for pulling down the CSI and FEI respectively? The RBI states that CSI is being pulled down because of falling consumer sentiments on the "general economic situation" and "employment" scenario. So, on the "general economic situation", RBI finds that there has been a largely secular decline in both current consumer sentiment and future expectations since PM Modi's re-election in 2019. What is equally worse is that more people expect the employment situation to worsen a year from now that is why the one year ahead expectation line is below the zero marks. Big takeaways These data layout the tricky challenge facing the Indian economy. If the government's strategy for fast economic growth expecting the private sector to lead India out of this trough by investing in new capacities is to succeed, then consumer spending (especially on non-essentials) has to go up sharply. But for that to happen, household incomes have to go up; and for that to happen, the employment prospects have to brighten; and for that to happen, again, companies have to invest in new capacities. 🍁🍁🍁🍁🍁🍁🍁🍁🍁🍁 Join >> @dailynewscom Join >> @NitishPatelOfficial

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📰 News : Rengma Nagas demand autonomous council. • The Rengmas were the first tribal people in Assam who encountered the British in 1839. • The existing Rengma hills was eliminated from the political map of the state with that of Mikir Hills(now Kabri Anglong) in 1951. • Rengmas gave shelter to the Ahom refugees during the Burmese invasion in 1816 and 1819. • The petition said that the Rengma hills was partitioned in 1963 between Assam and Nagaland at the time of creation of Nagaland state and the Karbis, who were known as Mikirs till 1976, were the indigenous tribal people of Mikir hills. • Thus, the Rengma hills and Mikir hills were two separate entities till 1951. Karbis have no history in the Rengma hills. People who are presently living in Rengma hills are from Assam, Arunachal Pradesh & Meghalaya. They speak different dialects and do not know Karbi language of Karbi Anglong. • Ngada Festival is celebrated by the Rengma tribe. It is a post-harvest festival.

📰 News : Crackdown on fake medicines. • Operation Pangea was conducted in 2008. • Operation Pangea XIV was coordinated by Interpol. Indian agencies also participated in the operation, said an official of the CBI that is the nodal body of Interpol in the country. • It targets the sale of counterfeit health products, illicit medicines and medical devices. • The main aim is to remove illicit pharmaceutical products from circulation and raise awareness of the risks associated with buying medicines from unregulated websites.

Types of Writs in Indian Constitution : • What is a writ? - Writs are a written order from the Supreme Court or High Court that commands constitutional remedies for Indian Citizens against the violation of their fundamental rights. • Both Supreme Court and High Courts can issue writs. • Supreme Court can issue writs under Article 32. • High Courts can issue writs under Article 226. ● Writ of Habeas Corpus : • This writ literally means 'you may have the body'. This writ is issued to produce a person physically before the court who has been imprisoned or detained by the law and to set him free if there is no legal justification of his detention. This writ can be issued against authorities of states or organisations or individuals. ● Writ of Certiorari : • This writ literally means 'to be certified'. This writ is issued by the higher court to the lower court for quashing the order already passed by the lower court or removing a suit from the lower court to higher court for speedy disposal. ● Writ of Quo-Warranto : • This writ literally means 'by what warrants?' or 'what is your authority'. It is a writ issued by the Supreme Court or High Court with a view to restrain a person or authority from holding a public office to which he is not entitled. The writ requires the concerned person or authority to explain to the Court by what authority he/it holds the office. ●  Writ of Mandamus : •  This writ literally means 'we command'. It is a a judicial writ issued by the Supreme Court or a High Court as a command to an inferior court or tribunal or a person to perform a public or statutory duty. ● Writ of Prohibition : •  This writ is popularly known as 'Stay Order'. This writ is issued by a higher court to a lower court to stop proceeding in a case on the ground of over-stepping of jurisdiction or absence of jurisdiction. It is issued before the judgement or order is made in such cases.

□ Equator : • Equator is an imaginary line running on the globe that divides it into two equal parts. • The northern half of the earth is known as the Northern Hemisphere and Southern half is known as the Southern Hemisphere. • The equator represents the zero degrees latitude (0°). • Its distance from the equator to either of the poles is one-fourth of a circle round the earth, it will measure ¼th of 360 degrees, i.e. 90°. Thus, 90 degrees north latitude marks the North Pole and 90 degrees south latitude marks the South Pole. • Equator doesn't pass through India. • The Equator passes through 13 countries : Ecuador, Colombia, Brazil, Sao Tome & Principe, Gabon, Republic of the Congo, Democratic Republic of the Congo, Uganda, Kenya, Somalia, Maldives, Indonesia and Kiribati.

📰 News : Govt. keen on implementing labour codes. • The Labour Ministry had envisaged implementing the 4 codes on industrial relations, wages, social security and occupational health safety and working conditions. • These 4 labour codes will rationalise 44 Central labour laws. • Labour is on the Concurrent list of the Constitution therefore both the Centre and State have to notify rules under these 4 codes to make them laws of the land in their respective jurisdictions. • Under the new wages code, allowances are capped at 50%. This means half of the gross pay of an employee would be basic wages. • After the implementation of the new codes, the take home pay of employees would reduce, while the provident fund liability of employers would increase in many cases. • A provident fund is a government managed, mandatory retirement savings scheme. A worker gives a portion of his/her salary to the provident fund, and an employer should make a contribution on behalf of the employees.

📰 News : Punjab, T.N. and Kerala top the education index ranking. • Punjab, Tamil Nadu, Kerala have all scored higher than 90% in the Education Ministry's Performance Grading Index 2019 - 2020. • The Index monitors the progress that the States & Union Territories have made in school education with regard to learning outcomes, access and equity, infrastructure and facilities and governance and management process. • This is the 3rd edition of the index and uses 70 indicators to measure progress. Of these, the 16 indicators related to learning outcomes remain unchanged through all the 3 editions, as they are based on data from the 2017 National Achievement Survey, which tested students in Classes 3, 5, 8 & 10. • The remaining 54 parameters use Central databases, collating information from the school and district level. • Punjab recorded the highest score of 929 out of 1000. • The new union territory Ladakh was included separately for the first time in this edition and had the lowest score of just 545.

📰 News : One horned rhino, gaur born in Nehru Zoological Park. • Nehru Zoological Park is in Telangana. • The Indian state of Assam is home to the largest population of greater-one horned rhinos, with more than 90% in Kaziranga National Park. • IUCN status of One horned rhinoceros (Rhinoceros unicornis) - Vulnerable. • IUCN status of Indian gaur or Indian bison (Bos gaurus gaurus) - Vulnerable.

• The G7 includes the USA, Japan, Germany, Britain, France, Italy and Canada. • The G7 said it would back a minimum global corporation tax rate of at least 15% and put in place measures to ensure that taxes were paid in the countries where businesses operate. • Why a global minimum? - The major economies are aiming to discourage multinationals from shifting profits and tax revenues to low tax countries regardless of where their sales are made. • How would a global minimum tax work? - The global minimum tax rate would apply to overseas profits. Governments could still set whatever local corporate tax rate they want, but if companies pay lower rates in a particular country, their home governments could "top-up" their taxes to the minimum rate, eliminating the advantage of shifting profits. • A November 2020 study by TJN estimates that countries are losing $427 billion every year to tax havens. • According to the UK based Tax Justice Network, India suffers an annual loss of $10.3 billion from global tax abuse.

📰 News : G7 nations agree on uniform minimum corporate tax.

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List of Particularly Vulnerable Tribal Groups (PVTGs) or Primitive Tribal Groups (PTGs) in India : • 75 Tribal groups are listed as PVTGs. • Odisha had the highest number of PVTGs(13). • Andhra Pradesh (12) - Bodo Gadaba, Bondo Poroja, Chenchu, Dongria Khond, Gutob Gadaba, Khond Poroja, Kolam, Kondareddis, Konda Savaras, Kutia Khond, Parengi Poroja, Thoti. • Bihar & Jharkand (9) - Asurs, Birhor, Birjia, Hill Kharia, Korwas, Mal Paharia, Parhaiyas, Sauria Paharia, Savar. • Gujarat (5) - Kathodi, Kotwalia, Padhar, Siddi, Kolgha. • Karnataka (2) - Jenu Kuruba, Koraga. • Kerala (5) - Cholanaikayan (a section of Kattunaickans),  Kadar, Kattunayakan, Kurumbas, Koraga . • Madhya Pradesh & Chhattisgarh (7) - Abujh Marias, Baigas,  Bharias, Hill Korbas, Kamars, Saharias, Birhor. • Maharashtra (3) - Katkaria (Kathodia),  Kolam, Maria Gond. • Manipur (1) - Marram Nagas. • Odisha (13) - Birhor, Bondo, Didayi, Dongria-Khond, Juangs, Kharias, Kutia Kondh, Lanjia Sauras, Lodhas, Mankidias, Paudi Bhuyans, Soura, Chuktia Bhunjia. • Rajasthan (1) - Seharias. • Tamil Nadu (6) - Kattu Nayakans, Kotas, Kurumbas, Irulas, Paniyans, Todas. • Tripura (1) - Reangs. • Uttar Pradesh & Uttarakhand (2) - Buxas, Rajis. • West Bengal (3) - Birhor, Lodhas, Totos. • Andaman & Nicobar Island (5) - Great Andamanese, Jarawas, Onges, Sentinelese, Shom Pens.

World Environment Day • World Environment Day is celebrated on June 5, annually to encourage awareness and environmental protection. • The theme for World Environment Day 2021 is 'Ecosystem Restoration' and Pakistan will be the global host for the day. • This World Environment Day will kick off the UN Decade on Ecosystem Restoration (2021-2030), a global mission to revive billions of hectares, from forests to farmlands, from the top of mountains to the depth of the sea. Some facts • For too long, humans have been exploiting and destroying the planet’s ecosystems. • We have destroyed half of the wetlands. • As much as 50 per cent of the world's coral reefs have already been lost and up to 90 per cent of coral reefs could be lost by 2050, even if global warming is limited to an increase of 1.5 degrees Celcius. • Ecosystem loss is depriving the world of carbon sinks, like forests and wetlands, at a time when humanity can least afford it. • Global greenhouse gas emissions have grown for three consecutive years and the planet is one place for potentially catastrophic climate change. What is an ecosystem? • An ecosystem is a community of plants and animals interacting with each other in a given area, and also with their non-living environments. • The non-living environments include weather, earth, sun, soil, climate and atmosphere. • The ecosystem relates to the way that all these different organisms live in close proximity to each other and how they interact with each other. What is ecosystem restoration? • Ecosystem restoration means preventing, halting, and reversing this damage – to go from exploiting nature to healing it. • Ecosystem restoration means assisting in the recovery of ecosystems that have been degraded or destroyed, as well as conserving the ecosystems that are still intact. • Restoration can happen in many ways – for example through actively planting or by removing pressures so that nature can recover on its own. How can the ecosystem be restored? • All kinds of ecosystems can be restored, including forests, farmlands, cities, wetlands, and oceans. • Restoration initiatives can be launched by almost anyone, from governments and development agencies to businesses, communities, and individuals. That is because the causes of degradation are many and varied, and can have an impact at different scales. • For instance, degradation may result from harmful policies such as subsidies for intensive farming or weak tenure laws that encourage deforestation. • Lakes and coastlines can become polluted because of poor waste management or an industrial accident. • Commercial pressures can leave towns and cities with too much asphalt and too few green spaces. Join >> @dailynewscom Join >> @NitishPatelOfficial