Current Affairs in Short: 27 March 2020
Post Offices providing basic services during lock down
• The Post Offices are providing basic postal and financial services in the wake of the 21-day lockdown announced by the Union Government. This was informed by the Ministry of Communications on March 27, 2020.
• The postal offices are giving priority to delivery of essential items.
• The post offices are also allowing withdrawal and deposit under Post Office Savings Bank and India Post Payments Bank.
• Besides this, facilities such as Aadhar Enabled Payment System and ATM facility are also available in post offices for withdrawal of money from any bank account.
High-level committee approves Rs. 5,751 crore worth fund for 8 states
• A high-level committee, chaired by Home Minister Amit Shah has approved funds worth Rs 5,751 crore to eight states for calamity damage relief.
• The additional centre assistanmce has been approved under the National Disaster Response Fund.
• They will be given to eight states that were affected by drought, floods, landslides and cyclones in 2019.
• The states include Kerala, Bihar, Nagaland, Odisha, Maharashtr, Rajasthan, West Bengal and Karnataka.
IIT Gandhinagar launches Project 'Isaac'
• The Indian Institute of Technology, Gandhinagar (IITGN) has launched ‘Project Isaac’ to engage students in creative projects during the COVID-19 lockdown.
• The project aims to enhance the student’s skills while they are confined in their homes.
• The project is inspired by Sir Isaac Newton, who was similarly sent home due to the Great Plague of London in 1665.
• During that year, Newton had devloped some of his most significant discoveries including early calculus and his theories of gravity and optics.
India’s GDP growth slashed to 2.5 percent in 2020
• Moody's Investors Service on March 27, 2020 reduced India’s GDP growth in 2020 to 2.5 percent from the earlier estimate of 5.3 percent.
• Moody’s said that the COVID-19 pandemic will cause unprecedented shock to the global economy including the Indian economy.
• It said in its Global Macro Outlook 2020-21 that India will see a sharp fall in incomes at an estimated 2.5 percent growth rate.