GK,Current affairs and banking awareness for PO

1- 13th finance Commission recommends sanction of a grant of Rs. 50,000 crore. The grant would be used to meet the compensation claims of State Governments for revenue losses on account of implementation of GST between 2010-11 and 2014-15, consistent with the Grand Bargain.

2- According to 13th finance commission ,A target of 68 per cent of GDP for the combined

debt of the Centre and states should be achieved by 2014-15. Currently Debt to GDP ratio of India is estimated at 82% in 2009-2010.

3- Bank rate = 6%

Repo rate = 5.25%

Reverse repo= 3.75%

Cash reserve ratio = 6%

Statutory liquidity ratio ( SLR) = 25%

4- Chairman of 13 th finance commission is Dr. Vijay kelkar.

5-Dr. C Rangarajan , Chairman of Economic advisory council to Prime minister, has been appointed as head of high-level expert committee to suggest measures for efficient management of public expenditure. The committee will sugggest an action plan for abolishing the present system of classifying expenditure into plan and non-plan.

This committee is formed by planning commission and will have 18 members.

6- India's fourth quarter GDP growth rate was 8.6 % for FY 09-10 . This will increase the overall growth rate for FY09-10 from estimated 7.2% to 7.4%

7- GDP growth rate for FY08-09 was 6.7%

8- Base year for national income calculation has been change to 2004-2005 from 1999-2000.

9- Fiscal deficit target for FY 10-11 is 5.5 %, for FY11-12 ,it is 4.5% and for FY12-13 ,it is 4.1%.

10- Defence secretary - Mr. Pradeep Kumar

Cabinet Secretary - Mr. K.M Chandrasekhar

Home secretary - G K Pillai