Purchasing Managers’ Index (PMI)
- The recently released Purchasing Managers’ Index (PMI) survey shows that India’s manufacturing sector stopped shedding jobs for the first time in 16 months in July 2021.
- Manufacturing PMI had slipped into a contraction at 48.1 in June, recovered to 55.3 in July with a marginal increase in employment.
- About PMI: It is an indicator of business activity — both in the manufacturing and services sectors.
- It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
- Compilation: PMI is compiled by “IHS Markit” for more than 40 economies worldwide.
- IHS Markit is a global leader in information, analytics, and solutions for the major industries and markets that drive economies worldwide.
- Calculation of PMI: it is a survey-based measure that asks the respondents about changes in their perception of some key business variables from the month before.
- Executives from a reasonably big sample, are asked whether key indicators such as output, new orders, business expectations, and employment were stronger than the month before and are asked to rate them.
- Expansion in business activity: is denoted by a PMI above 50, compared to the previous month.
- Contraction in business activity: denoted by a PMI below 50, compared to the previous month.
- A reading at 50 indicates no change.
- Relevance of PMI:
- As it is generally released at the start of every month, it is considered a good leading indicator of economic activity.
- As the official data on industrial output, manufacturing, and GDP growth comes much later, PMI helps to make informed decisions at an earlier stage.
- Provides information about current and future business conditions to company decision-makers, analysts, and investors.
- It gives an indication of corporate earnings and is closely watched by investors as well as the bond markets.
- A good reading enhances the attractiveness of an economy vis-a-vis another competing economy.
- After the furor over the move to build a statue of Tipu Sultan in Proddatur, the Kadapa district administration (Andhra Pradesh) decided not to allow the installation of any more statues.
- About: Tipu sultan was born in 1750 and succeeded his father Haider Ali in 1782, after his death in the second Anglo-Mysore war (1780-84).
- Also known as Sher-e-Mysore (Tiger of Mysore), the sobriquet of Sher-e-Hind, and Sher-e-Mashriq (Tiger of the East).
- He was a patron of science and technology and is credited as the ‘pioneer of rocket technology in India.
- Wrote “Fathul Mujahidin”: a military manual explaining the operation of rockets.
- Founded “Jacobin Club” in 1797”: he became a member of the Jacobin Club and allowed himself to be called Citizen Tipu. He also planted the Tree of Liberty at Seringapatam.
- Wars fought by Tipu sultan: as a 17-year-old, he fought in the First Anglo-Mysore War (1767-69) which was ended with the Treaty of Madras.
- Later he also fought alongside his father against the Marathas on several occasions between 1775 and 1779 and in the Second Anglo-Mysore War (1780-84) which ended with the treaty of Mangalore.
- Third Anglo-Mysore war 1790-92: lost this war to East India Company and signed Treaty of Seringapatam under which he had to surrender a large portion of his territories to EIC led coalition and his son as collateral in case he didn’t pay war reparation charges imposed on him by EIC.
- Fourth Anglo-Mysore war 1799: In the Battle of Seringapatam, the Company ultimately won a victory against Tipu. Tipu Sultan was killed defending his capital Seringapatam.
- After the fourth Anglo-Mysore war, it was placed under the former ruling dynasty of the Wodeyars and a subsidiary alliance was imposed on the state.
Sabki Yojna Sabka Vikas
- Ministry of Panchayati Raj has launched Sabki Yojna Sabka Vikas campaign for the year 2021-22 for inclusive and holistic preparation of Gram Panchayat Development Plan (GPDP).
- It is a people’s campaign, first launched in 2018.
- Every year it is launched on 2nd
- This year, however, the government has decided to launch it well in advance to provide Gram Panchayats a full year for implementation and effective monitoring of works.
- It endeavors to converge all resources available at the Panchayat level.
- Strengthening of elected representatives and Self-Help Groups (SHGs)
- Evidence-based assessment of progress made in the last year and proposals for the next year in all 29 subjects of XI Schedule of our constitution.
- Preparation of inclusive, participatory, and evidence-based GPDP.
- Article 243 G: Mandates Panchayats for preparation and implementation of plans for economic development and social justice.
SATNAV Policy 2021
- A comprehensive and substantive policy for satellite-based navigation—SATNAV Policy 2021 has been proposed to achieve the goal of self-reliance in India’s satellite-based navigation and augmentation services sector.
- It has been proposed by the Department of Space.
- There is a need for such secured services that are exclusive to the Indian strategic
- The objective is to address the growing demands of space-based navigation and timing applications.
- It will contribute in making India self-sustained in areas of commercial, strategic, and societal applications to maximize the socio-economic benefits.
- To ensure the continuous availability of free-to-air navigation signals for civilian uses and secured navigation signals for strategic uses in the defined coverage area.
- The draft ensures guaranteed and continuous availability of the Satellite-Based Augmentation System (SBAS) for aviation safety in the defined coverage area.
- to focus on technology development for enhancing the navigation satellite systems and work towards compatibility and interoperability of Indian satellite navigation and augmentation signals with other SBAS signals.
- Continuity of NavIC (Navigation with Indian Constellation) and GAGAN (GPS Aided Geo Augmented Navigation) services, upgrading the system and ensuring the capability to operate in conjecture with other GNSS/SBAS.
- Satellite-Based navigation system: Constellation of navigation satellites that provides all-weather,3-D position, velocity, and timing data.
- NavIC or IRNSS is an Indian independent regional navigation satellite system, which is developed by ISRO.
- GAGAN is aimed at providing navigational services and providing position accuracy for the aviation sector. It is developed jointly by ISRO and AAI.
Also read- Prelims Specific Articles- 3 August 2021