Notes:
The National Statistical Office released revised estimates for economic growth of India for the last three years, on January 31,2020. As per the report, it fixed the actual GDP growth 2018-19 at 6.1%, against its previous estimate of 6.8%, estimated in May 2019.
The National Statistical Office also stated that the main reason for the downward revision in the GDP growth rate is deceleration in farming and mining activities in primary sector and manufacturing activities in secondary sector. It also marked the growth rate in 2017-18 as 7%. Recently, NSO estimated the growth rate in 2019-20 to be 5%.

Notes:
Technological major Google has recently launched a short-video making application called ‘Tangi’, which is similar to the popular application TikTok.
The application has been launched initially on the web and iOS platforms. Users have to post a short-video on a ‘Do-it-yourself’ (DIY) and creativity content using the application. The application for 60-second-videos has been designed by the incubator of Google called ‘Area 120’. The name of the application is inspired by ‘Teach and Give’ and ‘Tangible’ things. Communities centered around similar hobbies can also be formed.

Notes:
The Economic Survey 2019-20 was recently presented by the Chief Economic Adviser Krishnamurthy Subramaniam on January 31, 2020. The term called ‘Thalinomics’ was used, which means the affordability of buying a Thali (Food Plate).
It states that, Jharkhand has the cheapest Vegetarian Thali (meals plate), less than Rs.50. The survey also revealed that the affordability for a vegetarian plate has improved by 29% in the last 13 years while the cost has increased in the year 2019. The affordability of the meals has saved nearly Rs.10000 on an average per year to an average household.

Notes:
The Economic Survey 2019-20 presented on January 31, 2020 stated that India is ranked third globally in number of new firms created. It also revealed that as many as 1,24,000 new firms have been created in India in the year 2018 alone.
The survey quoted this data on firm creation from the World Bank’s data on entrepreneurship. The number of new firms created from 2014 to 2018 grew at a rate of 12.2 per cent. It also stated that more new firms were created in services sector in the country when compared to the agriculture and manufacturing sectors.

Notes:
International Business Machines Corporation (IBM) has appointed Indian-American Arvind Krishna as its new Chairman. The 57-year-old leader is currently serving as the head of the ‘Cloud and Cognitive software unit’ of IBM.
He is known for playing an instrumental role in the acquisition of Red Hat by IBM, undertaken last year. He has also led the development of several advanced technologies by IBM including cloud and quantum computing. He replaces the long-time female CEO of IBM, Virginia Rometty, who will continue to serve as the company’s executive Chairman.