IMPORTANT CURRENT AFFAIRS OF JUNE 14TH 2022

INFLATION:

• INFLATION IS A GENERAL RISE IN THE PRICE LEVEL OF AN ECONOMY OVER A PERIOD OF TIME .
• RETAIL INFLATION IS A WEIGHTED AVERAGE OF PRICES OF A BASKET OF CONSUMER GOODS AND SERVICES.
• TYPES OF INFLATION:

1)DEMAND PUSH INFLATION:

WHEN DEMAND FOR GOODS EXCEED THE PRODUCTION CAPICITY.

2)COST  PUSH  INFLATION:

WHEN PRODUCTION COST OF GOODS LEAD TO RISE IN THE PRICE OF GOODS.

• RBI AIMS TO REGULATE THE INFLATION IN RANGE OF 4  +/- 2%.

ZONAL COUNCILS:

• MINSTRY OF HOME AFFIARS HEADED THE 25^TH WEST ZONAL COUNCIL AT DIU.
• ZONAL COUNCIL ARE STATUTORY BODIES.
• FIVE ZONAL COUNCIL ARE PRESENT IN INDIA.THEY ARE NORTH ,CENTRAL,EASTERN,WESTERN AND SOUTHERN ZONAL COUNCILS.

WTO(WORLD TRADE ORGINASATION):

• WTO IS AN INTERNATIONAL ORGANIZATION DEALS WITH RULES OF TRADE BETWEEN THE NATION.
• WTO HEADQUARTER IS PRESENT IN GENEVA, SWITZERLAND.
• THE 12^THMINISTERIAL CONFERENCE OF WORLD TRADE ORGANIZATION (WTO)  IS STARTED IN SWITZERLAND.
• WTO CHAIRMAN IS NGOZI OKONJO IWEALA.

BIMSTEC:

• BAY OF BENGAL INITIATIVE FOR MULTI-SECTORAL TECHNICAL AND ECONOMIC COOPERATION (BIMSTEC) CELEBRATED THE FOUNDATION DAY OF BIMSTEC 2022 ON 6TH JUNE 2022 IN DHAKA, BANGLADESH.
• 6TH JUNE 2022 ALSO MARKS THE CELEBRATION OF THE 25TH FOUNDATION DAY OF BIMSTEC, SILVER JUBILEE ANNIVERSARY(25TH ANNIVERSARY) OF THE FOUNDATION OF BIMSTEC WHICH CAME INTO BEING ON THROUGH THE BANGKOK DECLARATION.

ENVIRONMENT PERFORMANCE INDEX:

• INDIA SCORED THE LOWEST AMONG 180 COUNTRIES IN THE ENVIRONMENT PERFORMANCE INDEX.
• DENMARK TOPPED THE LIST.
• IT IS CALCULATED ON THE BASIS OF
  • CLIMATE CHANGE PERFORMANCE
  • ENVIRONMENTAL HEALTH
  • ECOSYSTEM VITALITY

ELECTION COMMISSION:

• ELECTION COMMISSION ANNOUNCED THE SCHEDULE FOR PRESIDENTIAL ELECTION.
• PRESIDENT IS ELECTED BY THE ELECTORAL COLLEGE.
• THE ELECTORAL COLLEGE IS MADE UP OF ALL THE ELECTED MP OF THE RAJYA SABHA AND LOK SABHA , AND THE ELECTED MLA  OF STATES AND UNION TERRITORIES .
• THE PRESIDENT ELECTION IS HELD IN ACCORDANCE WITH THE SYSTEM OF PROPORTIONAL REPRESENTATION BY MEANS OF THE SINGLE TRANSFERABLE VOTE  AND THE VOTING IS BY SECRET BALLOT.