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Inflation - Shanmugam IAS academy in coimbatore


What’s in news?

An online portal, namely Indian Culture Portal was launched on 10th December, 2019 to showcase information about the rich cultural heritage of India across the globe. This information was given by the Minister of State (I/c) of Culture and Tourism, in a written reply in the Lok Sabha.

Key data’s:

  • It is the first government authorized portal where knowledge and cultural resources of various organizations of Ministry of Culture such as the National Archives of India, Gandhi Smriti and Darshan Smriti, Archaeological Survey of India and Indira Gandhi National Centre for the Arts, are available.
  • The Indian Culture Portal is available in two languages i.e. Hindi and English.
  • The portal will create awareness about both the tangible and intangible cultural heritage of India, through the content available on the portal, which comprises mainly of rare books, e-books, manuscripts, artefacts from museums, virtual galleries, archives, photo archives, gazetteers, Indian National Bibliography, videos, detailed accounts of Indian UNESCO World Heritage site, Musical Instruments of India, write-ups and beautiful pictures on cuisines, festivals, paintings, folk art and classical art from different States of India etc.



What’s in news?

Zimbabwe’s annual inflation soared to over 500% in February, the country’s statistical agency, releasing its first consumer price data since June last year.

Key data’s:

  • Inflation Rate: Zimbabwe”s annual inflation soared to 540% for the month of February.
  • The local currency has fallen from parity against the US dollar a year ago, to around 18 Zimbabwean dollars (ZWL) per greenback although on the black market the rate is over 30.
  • The US dollar had been the national currency since 2009 when the country trashed its own worthless currency when hyperinflation reached 500 billion percent.
  • Reason: Following are the reason for the inflation in the country;
    • Excessive printing of money caused much of the hyperinflation.
    • Institutional corruption (It ranks 157th in Corruption Index).
    • Poor economic policies by the government cause hyperinflation.
    • Civic unrest and government instability 
  • What is inflation? It is a sustained increase in the general price level of goods and services in an economy over a period of time.

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