Current Affairs Question - 20 December 2019

Explanation :

• Index of Industrial Production (IIP) is an index which helps us understand the growth of three sectors in the Indian economy such as mining, electricity and manufacturing and does not cover gas, water supply and construction.
• The Central Statistical Organisation (CSO) is responsible for the compilation and publication of the IIP since 1950.
• It is compiled as a simple weighted arithmetic mean of production relatives by using Laspeyre’s formula.
• The base year of the index is given a value of 100. The current base year for the IIP series in India is 2011-12.

Explanation :

• The International Court of Justice (ICJ) is the principal judicial organ of the United Nations (UN). It was established in June 1945 by the Charter of the United Nations and began work in April 1946.
• The seat of the Court is at the Peace Palace in The Hague (Netherlands). Of the six principal organs of the United Nations, it is the only one not located in the United States of America.
• The Court is composed of 15 judges, who are elected for terms of office of nine years by the United Nations General Assembly and the Security Council.
• It is assisted by a Registry, its administrative organ. Its official languages are English and French.
• The Court’s role is to settle, in accordance with international law, legal disputes submitted to it by States and to give advisory opinions on legal questions referred to it by authorized United Nations organs and specialized agencies.