Current Affairs For Bank, IBPS Exams - 05 August, 2014
Current Affairs For Bank, IBPS Exams
05 August, 2014
Black economy now amounts to 75% of GDP
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Driven substantially by the higher education sector, real estate deals and mining income, India’s black economy could now be nearly three-quarters the size of its reported Gross Domestic Product (GDP).
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There were no “reliable” estimates of black money generated in India and held within and outside the country, the government commissioned the National Institute of Public Finance and Policy (NIPFP) to estimate the black money in India and held overseas by Indians.
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The capitation fees collected by private colleges, on management quota seats in professional courses, last year was around Rs 5,953 crore.
Lights to go out across UK to mark World War One centenary
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On August 4, the whole of Britain will be plunged in darkness for an hour in a Lights Out initiative to mark the centenary of the country’s entry into World War 1.
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Several official and unofficial events that have been planned over the last year will mark the day. They reflect and reinforce a war memorial sentiment that appears as diverse as the forms that memorialisation are taking in this country.
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All these will in different ways examine the legacy and lessons emerging from World War 1 (1914-1918), which claimed the lives of 10 million soldiers and impacted the lives of countless others.
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Commonwealth British citizens have marshalled their own memories and histories of the war experience. The largest non-British component of the British fighting forces, and on which the imperial war machine heavily relied was from India. Nearly 1.5 million soldiers were drafted into the war effort. Of them 74,000 died.
