In accordance with the info released by the Department for Promotion of Industry and Internal Trade (DPIIT), the entire foreign direct investment (FDI) increased by 18% to $73.46 billion within the FY2019-20. This hike was the very best within the four years. Out of the entire FDI, equity inflows through the Foreign Investment Promotion Board (FIPB), reserve bank of India’s (RBI’s) automatic route of acquisition rose 13% to around $49.98 billion.
According to the Provisional Estimates of value for the fiscal year 2019-20 by National Statistical Office(NSO), Ministry of Statistics and Programme Implementation(MoSPI) India’s Gross Domestic Product(GDP) growth has slowed to an 11-year low of 4.2% in 2019-20 & within the final quarter(Q4- January to March) the GDP’s rate of growth fell to three .1%, against 6.2% within the 2018-19, which reflects the impact of the primary week of the COVID-19 lockdown which began on Annunciation . Estimation- GDP at Constant (2011-12) prices in Q4 of 2019-20 is estimated at Rs. 38.04 lakh crore, as against Rs 36.90 lakh crore in Q4 of 2018-19, which shows a growth of three .1%, the slowest since a 0.2% rise within the fourth quarter of FY09.
National Bank for Agriculture and Rural Development (NABARD), a development bank focusing totally on the agricultural sector of the country, has extended Rs 1,050 crore special liquidity facility (SLF) to West Bengal (WB) thus far within the current financial year (FY 21) for the welfare of farmers and poor people within the state. Of the entire amount, Rs 300 crore disbursed for MFIs (micro-finance institutions), Rs 700 crore sanctioned for state cooperative banks and Rs 50 crore for regional rural banks (RRBs).
The us (US) has joined a world panel of Group of Seven (G7) for fixing ethical guidelines for the utilization of AI (AI). The partnership was launched after a virtual meet of technology ministers of member nations. The aim of this panel is to counter the China’s twisting technology in ways in which threaten civil liberties. The involvement folks during this panel was important due to the massive role that American tech firms play globally and its historic advocacy for human rights.
Union Minister for Commerce & Industry and Railways, Piyush Goyal participated within the Digital Summit on Exports organized by the Confederation of Indian Industry(CII) through a Video Conference. The institutional partner for the summit is Export-Import(EXIM) Bank.
Exports are likely to enhance in May, with the contraction expected to be 30-35%, after outbound shipments crashed by a record 60% in April. 70% of exports are in raw materials & their remaining trade is suffering from price shocks and provide volatility. these things command only 30% of worldwide product demand.
Exports fell 60.28% in April and 34.5% in March. the autumn are often narrowed 8- 10% by June 2020. The 28 of the 30 major product groups experienced the highest-ever double-digit contraction of up to 99 you bored with April. Even large quantities of petroleum products are unable to push value-wise exports as international prices were at low.
The Union Ministry of latest and Renewable energy (MNRE) proposed the ‘One Sun One World One Grid’ (OSOWOG) to interconnect renewable energy by sharing solar resources with quite 140 countries of West Asia and Southeast Asia. The grid are going to be interconnected with African power pools.
Its aim is to supply solar energy to nations which lack sunlight, by building a standard transmission. The proposal was mooted on the lines of PM Modi’s announcement on cross-border solar connectivity in October 2019.
The foundation stone for a Missile Park named ‘Agneeprastha’ was laid by Commodore Rajesh Debnath & a 2 MegaWatt(MW) solar photovoltaic plant was commissioned by flag officer Atul Kumar Jain, commissioned naval officer Commanding-in-Chief, Eastern Naval Command(ENS) at INS Kalinga, Visakhapatnam.
A 2MW plant was commissioned in line with the initiative of the Union government to market solar energy and an objective to realize 100 GigaWatt(GW) of solar energy by 2022 as a part of the National Solar Mission. The plant is that the largest plant within the ENC & has an estimated lifetime of 25 years.
State-run Power Finance Corporation (PFC) announced the appointment of Ravinder Singh Dhillon as chairman and director (CMD) from June 1, 2020. He are going to be the successor of Rajeev Sharma as he retires on May 31, 2020.
The Banks Board Bureau (BBB) appointed SN Rajeshwari because the new Chairman and director (CMD) of Delhi-based Oriental insurance firm (OIC). she is going to be the successor of AV Girija Kumar, 60 years old, who retires on May 2020.
India Observatory, an open-source database, launched a GIS-enabled dashboard, CoAST India(Collaboration/Covid Action Support Group) together with Anand-based Forest Ecological Security(FES) as its main nodal point, to assist administrators, civil society organisations & volunteers to plan urgent steps to urge the stranded migrant population to safety & care.
Famous Indian Lyricist and writer Yogesh Gaur, commonly referred to as Yogesh within the movie industry gave up the ghost at the age of 77 in Mumbai, Maharashtra. He was born on Saint Joseph , 1943 in Lucknow, Uttar Pradesh (UP).
Every year 29th May is widely known because the World Digestive Health Day (WDHD) by the planet Gastroenterology Organisation(WGO) with the WGO Foundation (WGOF). the primary WDHD was celebrated on 29th May 2005.
The theme of the WDHD 2020 is “Gut Microbiome – a worldwide Perspective”
World Vape Day (WVD) was observed on May 30, by many e-cigarette users or vapers across the world and therefore the day is widely known , each day before World No Tobacco Day. WVD aims to boost awareness on e-cigarettes or vapes & help smokers who are unable to quit on their own or with currently available smoking cessation tools to vary to safer nicotine products.
Venkataramani Sumantran has been appointed the independent director of airline company IndiGo. He presently served because the chairman and director of Chennai-based Celeris Technologies. He will hold the post for subsequent five years.
The meeting of the Heads of Tax Authorities of the BRICS countries, namely Brazil, Russia, India, China and South Africa was persisted 29 May. The meeting was hosted by the Federal Tax Service of Russia, which currently holds the BRICS Presidency, to debate the response of BRICS Tax Authorities to the COVID-19 pandemic and to explore potential areas of cooperation in tax matters.
The Ministry of Youth Affairs and Sports has extended the tenure of Sandip Pradhan as Director General of the Sports Authority of India (SAI) by two years. The extended tenure will inherit effect from 6 June 2020. The Appointments Committee of the cupboard has approved the proposal of Ministry of Youth Affairs and Sports for extension.
International Everest Day is being observed on 29th May. Nepalese Tenzing Norgay and New Zealand’s Hillary had climbed the Mt. Everest on today (29th May) in 1953, because the first humans to realize the feat. Nepal decided to watch the day as International Everest Day since 2008 when the legendary climber Hillary gave up the ghost.