29th April, 2023 Current Affairs

Sakshi Education

NATIONAL
Farm Machinery Technology Summit

The Confederation of Indian Industry (CII) organized the third edition of the Summit on Farm Machinery Technology, which was held at the India Habitat Centre in New Delhi from 27-28 April 2023 in physical format. The previous two editions of the summit were conducted virtually, due to the ongoing COVID-19 pandemic. The recent edition was held in physical format.
The objective of the CII Summit on Farm Machinery Technology is to address the challenges faced by the sector and chart a growth path for it. Farm mechanization is an important aspect of agriculture, as it enhances productivity and availability of food grains, increases agriculture exports, mitigates labour shortage and facilitates judicious use of scarce natural resources. The Indian Government has set an ambitious target of doubling the availability of farm power to 4.0 KW per ha by the end of 2030, which presents a tremendous opportunity for all stakeholders in the sector.

Index of Eight Core Industries increases by 3.6 percent in March 2023

The combined Index of Eight Core Industries (ICI) increased by 3.6 percent (provisional) in March 2023 as compared to the Index of March 2022.
The production of Coal, Fertilizers, Steel, Natural Gas, and Refinery Products increased in March 2023 over the corresponding month of last year.
ICI measures combined and individual performance of the production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement, and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

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INTERNATIONAL
Sri Lanka Parliament passes Resolution for implementing IMF package

Sri Lanka’s Parliament today passed a Resolution for implementing the IMF package of an extended fund facility of 3 billion dollars. A total of 120 members voted in favour while 25 voted against the package, after deliberation over the last three days.
Local news portals reported that the main opposition Samagi Jana Balawegaya (SJB), the Tamil National Alliance (TNA), Sri Lanka Freedom Party voted against the resolution.
President Ranil Wickremesinghe had earlier said that the key points of the IMF agreement would be enacted into law, after the resolution is passed. Last month, the Executive Board of the IMF approved a 48-month program of approximately 3 billion dollars for Sri Lanka.
The program opens doors for Sri Lanka to access financing up to 7 billion dollars from the IMF, international financial institutions, and multilateral organizations. It is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.

ECONOMY
Trade turnover between India & Dominican Republic reaches one billion US dollar, says EAM S. Jaishankar

External Affairs Minister S. Jaishankar said the trade turnover between India and the Dominican Republic has reached almost one billion US dollar. Addressing the India-Dominican Republic Business Event in the Dominican Republic yesterday, Jaishankar added that a lot of trade is done in pharmaceuticals, marine, gold, and paper products.
On the agreement signed between India and Dominican Republic, the External Affairs Minister said the two countries concluded talks on a joint economic and trade cooperation (JETCO) mechanism. The agreement is in its final stages of approval and is expected to be finalised soon.
JETCO will, in many ways, become a platform for regular meetings, addressing economic and business cooperation opportunities between India and the Dominican Republic.

SCIENCE AND TECHNOLOGY
Emirates Unveils World's First Robotic Check-In Assistant

Dubai-based airline Emirates has unveiled its latest innovation, the world's first robotic check-in assistant named Sara. The system is part of a new City Check-in and Travel Store that is set to launch in Dubai's financial district. Sara will match customers' faces with scanned passports, check passengers in, and guide them to the luggage drop area.
The facility, which opened on Thursday, April 27, allows customers to drop their luggage as early as 24 hours and up to 4 hours before their flight, arriving at the airport at their leisure. Passengers can check in via self-check-in kiosks, at dedicated desks with Emirates agents, or with the help of Sara.
The robot is equipped with facial recognition technology and can print boarding passes, making the check-in process more efficient. Sara is also portable and can move around to assist those who need help. Sources suggest that future iterations of Sara will also have arms that can transport luggage.

REPORTS
World Development Report 2023: Migrants, Refugees, and Societies

The world population has reached eight billion and is expected to grow for decades, but many countries are facing a sharp drop in working-age adults. The competition for workers and talent will intensify globally, and many countries will be reliant on migration to realise their long-term growth potential. A recent report from the World Bank, titled “World Development Report 2023: Migrants, Refugees, and Societies”, proposes policies for better migration management in destination, transit and origin countries, underscoring its urgency.
The report introduces the “Match-Motive Framework,” a labour economics-based approach that emphasizes how well migrants’ skills and attributes match the needs of the destination countries. The framework also considers the reasons why migrants move in search of opportunity and determines the extent to which migrants, origin countries and destination countries gain from migration. The framework combines “match” and “motive” to determine policy priorities for countries of origin, transit, destination, and the global community.
Many low-income countries are anticipated to experience a surge in population, which will exert pressure on them to generate additional employment opportunities for the youth. However, developing and impoverished nations such as India are observing an increase in the number of young people, while developed countries have already surpassed this stage, as they are experiencing depopulation. Spain, with a population of 47 million, is predicted to reduce by over one-third by 2100, with people aged 65 and above accounting for a greater proportion of the population, escalating from 20 per cent to 39 per cent. As their populations are no longer expanding, countries like Mexico, Thailand, Tunisia, and Türkiye might soon require more foreign workers.

Published date : 01 May 2023 05:38PM