Tourism, ADB - GS questions based on daily current affairs

ANSWER: Ganga

Explanation:

• The Asian Development Bank (ADB) and the Government of India signed a $500 million loan to build a 9.8 km long road bridge across the Ganges River to improve transport connectivity between North and South Bihar and for better link between the State Capital, Patna, and the surrounding areas. This will be India’s longest river bridge.
• The new Ganga Bridge, to be located near Patna, will span both channels of the Ganges River and serve as an alternate route to the existing Ganga Bridge.
• The project will also build viaducts, embankments, and toll and service facilities, and will link to national highway networks.

ANSWER: 6.7 percent

Explanation:
The Asian Development Bank (ADB) in its Asian Development Outlook Supplement has lowered India's economic growth forecast for current fiscal i.e. FY 2017-18 by 0.3% to 6.7% from earlier 7%.

The reasons cited for this downward revision of growth forecast of largest economy South Asia are lingering effect of demonetisation, transitory challenges to Goods and Services Tax (GST) and weather-related risks to agriculture.

ADB Forecast: Know More

• ADB has also revised downwards India's gross domestic product (GDP) outlook for next fiscal beginning from March 2018 to 7.3% from 7.4% mainly due to rising global crude oil prices and soft growth in private sector investment.
• However, it expects growth to pick up in remaining two quarters of FY 2017-18 as Government is implementing measures to ease compliance with new GST as well as bank recapitalisation.
• Inflation in India has remained subdued in first seven months of 2017-18, averaging 2.7%, with low food prices and demand still not out of woods because of demonetisation.
• However, inflation had picked up since July 2017 on price uptick for food, especially pulses and vegetables. Fuel prices also inched up in response to rising global crude oil prices.
• It has now projected inflation to average 3.7% in 2017-18, somewhat below the 4% earlier forecast.

ANSWER: Act East Policy

Explanation:
The 6^th International Tourism Mart (ITM) 2017 was held in Guwahati, Assam. It was inaugurated by Assam Governor Jagdish Mukhi, Chief Minister Sarbanand Sonowal and Union Tourism minister K L Alphons.

The three day program was organized by Union Ministry of Tourism in association with all North Eastern states.

The focus areas of 6^th ITM was to spotlight on India's "Act East Policy", blossoming ties with ASEAN and larger East Asia region, home to world's rapidly growing economies and India's emerging tourism markets.

It also held panel discussions, workshops, business to business (B2B) meetings, cultural programs.

ITM: Know More

• The International Tourism Mart is an annual event organised in North Eastern States on rotation basis.
• Its objective is to highlight tourism potential of region in domestic and international markets.
• It also brings together tourism business fraternity and entrepreneurs from the eight North Eastern States.
• The earlier editions of this mart were held in Guwahati, Shillong, Tawang, Gangtok and Imphal.

ANSWER: $500 million

Explanation:
Multilateral funding agency Asian Development Bank (ADB) on 29th Nov, 2017 said it will provide a $500 million loan to improve rural road connectivity in five states, including Assam and West Bengal.

The board of directors of ADB has approved the multi-tranche financing facility (MFF) for the 'Second Rural Connectivity Investment Programme' to improve rural roads in five states of India, ADB said in a statement.

Under this project, ADB will invest to construct and upgrade over 12,000 kilometre rural roads in Assam, Madhya Pradesh, Chhattisgarh, Odisha and West Bengal. It will also support state governments to improve rural road maintenance and safety.

ADB is building on the success of previous assistance for rural roads in India. The agency will work closely with the government to improve connectivity for the rural people to access markets, health centres, education and other opportunities.

In the first tranche, ADB is expected to invest USD 250 million in December for construction of initial 6,254 km all weather rural roads in these states. While the second tranche of the loan of same amount is expected to come by the third quarter of 2019.

This leg of the ADB loan assistance for rural roads builds on the first 'Rural Connectivity Investment Programme in 2012' financing USD 800 million MFF to add about 9,000 km all-weather rural roads in these five states.

Apart from this MFF, the Manila-headquartered agency will provide a USD 500,000 technical assistance (TA) grant from its Technical Assistance Special Fund to strengthen sustainability of rural road assets, disaster resilience and innovation in rural road development.

The TA is due for completion in December 2021, with the investment programme expected to be completed by the end of 2023, ADB said.

Rural roads comprise nearly 80 per cent of India's overall paved road network connecting them to major district roads, state roads and national highways.

ANSWER: $4 billion

Explanation:
Multi-lateral funding agency Asian Development Bank (ADB) announced that it increase annual funding to India to up to $4 billion from existing $2.7 billion from next year to accelerate inclusive economic transformation.

As part of ADB's Country Partnership Strategy 2018-22, the multi-lateral funding agency will provide loans up to $4 billion on annual basis including non-sovereign or private debt during 2018-22.

Cumulatively, India which is the largest recipient of ADB will get about $20 billion over a period of 5 years.

ANSWER: 40

Explanation:
There has been an improved rank of India in the Travel and Tourism Competitive Index (TTCI) of World Economic Forum released on 5th April 2017.

India has moved 12 places up in this ranking from 52nd to 40th position.

The tourism sector in the country has been on a growth trajectory since the present government came into power in May, 2014.

India’s ranking in the Travel and Tourism Competitive Index (TTCI) of World Economic Forum moved from 65rd position to 52nd position in 2015.

Now India has moved up by another 12 positions and ranked at 40th position.

In all, in last three years India has cumulatively improved its ranking by 25 places which is a significant achievement.

India continues to attract international tourists with its vast cultural and natural resources with a ranking of 9th and 24th respectively which are the USP’s of Indian Tourism product.

In terms of price competitiveness advantage, India is ranked 10th.

India continues to enrich its cultural resources, protecting more cultural sites and intangible expressions through UNESCO World Heritage lists, and via a greater digital presence.

In terms of International openness, India is ranked 55th, up by 14 places.

This has been possible through stronger visa policies. Implementing both visas on arrival and e-visas, has enabled India to rise through the ranks.

The T&T sector benefited from improvements in the country's ground transport infrastructure, which has traditionally been a challenge (29th).

At a macro level, the primary reasons for India’s jump in the Travel and Tourism Competitive Index 2017 should be attributed to the pro-active steps taken by our Government in terms of development of tourism infrastructure.

Also critical are the easing of entry formalities for tourists by introducing the e-visa facilities in November 2014.

WEF's TTCCI: Know More

• The World Economic Forum has, for the past 11 years, engaged leaders in travel and tourism.
• It also aims to carry out an in-depth analysis of the Travel and Tourism competitiveness of 136 economies across the world i.e.The Travel and Tourism Competitiveness Index
• The index assesses the set of factors and policies that enable the sustainable development of the travel and tourism sector, which in turn, contributes to the development and competitiveness of a country”.
• The Travel and Tourism Competitiveness Index enables all stakeholders to work together to improve the industry’s competitiveness in their national economies.

ANSWER: ADB

Explanation:
The Government of India and the Asian Development Bank (ADB) signed a USD 175 million loan agreement to support construction of high voltage transmission systems.

This is to evacuate power generated from new mega solar parks to the interstate grid, and improve reliability of the national grid system.

The loan will be given to the Power Grid Corporation of India Limited (POWERGRID) and will include subprojects in various locations in India.

As an innovative feature, the project is designed to adopt the country systems on both safeguards and procurement at the agency level.

In addition to the ADB loan of USD 175 million, the project includes USD 50 million co-finance from the Clean Technology Fund (CTF).

This is a USD 5.8 billion component of the Climate Investment Funds, aimed at providing developing countries with resources to expand efforts in utilising low carbon technologies and transitioning to clean, renewable energy sources.

POWERGRID will make an equity contribution of USD 135 million to support the total project cost of $450 million.

The USD 175 million loan will be from ADB’s ordinary capital resources (OCR) and will have a 20-year term, and an annual interest rate will be applicable, determined in accordance with ADB’s London interbank offered rate (LIBOR)-based lending facility.

The USD 50 million CTF loan financing will come with a 40 year term.

The project will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from the new solar parks to the national grid.

Apart from the evacuation of 2,500 megawatts(MW) of power from solar parks in Bhadla, Rajasthan, and 700 MW from Banaskantha, Gujarat, POWERGRID is also including two additional subprojects that will increase solar power generation by 4.2 gigawatt and lessen carbon emissions by over 7 million tons every year.

POWERGRID would make an equity contribution of $135 million equivalent to support the total project cost of USD 450 million.

ADB: Know More

• Headquarters : Mandaluyong, Metro Manila, Philippines
• Main organ : Board of Governors
• President : Takehiko Nakao
• Purpose : Social and economic development

ANSWER: J&K

Explanation:
A Tripartite Memorandum of Understanding (MoU) for implementation of Tourism projects in Jammu and Kashmir was signed among Ministry of Tourism, M/s NPCC & NBCC and Government of Jammu and Kashmir on 6th Feb 2017.

The MoU was signed in the presence of Shri Vinod Zutshi, Secretary, M/o Tourism and the signatories for the MoU included

- Shri. Suman Billa, Joint Secretary , Ministry of Tourism ;

- Shri. Shamim Ahmad Wani, Managing Director, J&K Cable Car Corporation ;

- Shri. K K Sharma, Executive Director, M/s NPCC ; and

- Shri. Alok Rastogi, Chief General Manager (BD), M/s NBCC

The Prime Minister announced the Development Package (Reconstruction Plan) for Jammu and Kashmir on 7.11.2015.

The details of all proposals included in the Development Package for Tourism are as under:

• Log Huts,
• Heliports,
• Open air theatre,
• Walking trail,
• Landscaping,
• Solar lighting,
• Solid waste management & public amenities etc.

ANSWER: Port Blair

Explanation:
Island Tourism Festival is an annual cultural event organized for the promotion of tourism and entertainment for islanders.

The main event is being held in Port Blair. A part of festival are also organized in other places like Wimberlygunj, Wandoor, Neil, Havelock, Rangat, Mayabunder, Diglipur, Hut Bay, Car Nicobar, Kamorta, Campbell Bay etc.

The ten-day festival is held annually from 5th January at ITF ground Port Blair.

The highlight of the festival at ITF ground is the exhibition depicting strides made by the Island Administration in various spheres and sale of general merchandise, food stalls, and stalls of interest to tourists, Floating Restaurant etc.

The main focal point, however, is the performance of mainland artists especially reputed music bands, Bollywood singers, dancers, performers etc.

Inaugurated by Lt. Governor Jagdish Mukhi at ITF Ground on 5th Jan, the 10 day mega event will see performances by the cultural troupes from mainland India to help the Islanders renew their cultural ties with mainland.

The cultural troupes from mainland as well as the Isles will also perform in outer Islands apart from South Andaman.

An International Cultural Group from Kazakhstan will also perform in this event. The other attractions of this event will be the food courts, fun games and handicrafts etc. Water sports competitions like Nicobari Hodi race are organized.

ANSWER: 8.91 lakh

Explanation:
Demonetisation did not impact the tourist footfall adversely this year, with 8.91 lakh foreign tourists visited India in Nov 2016.

This marks the growth of 9.3 % over the same month last year.

Foreign tourist arrivals (FTAs) during December 2015 was 8.16 lakh, while it was 7.65 lakh in December 2014.

Foreign Exchange Earnings (FEEs) from tourism during the month of December were INR 14,474 crore as compared to INR 12,649 crore in the same month last year, recording a growth of 14.4 %.

The US accounted for highest share of tourist arrivals followed by the UK and Bangladesh in December 2016, according to an official release.

FTAs during January-December, 2016 were 78.53 lakh, recording a growth of 10.4 % as compared to 71.14 lakh during the corresponding period last year.

FEEs from tourism in January-December were Rs 1,38,845 crore, witnessing an increase of 14.7 % as compared to the INR 1,21,041 crore during the corresponding period last year.

Among the top 15 source countries in December, share of the US was highest with 15.53 %, followed by these:

15 Source countries with Highest Foreign Tourist Arrivals (Dec 2016)