12th October, 2022 Current Affairs

Archana Lakkavajula

NATIONAL
Nitin Gadkari inaugurated Indian Roads Congress in Lucknow

Union Minister of Road Transport and Highways Nitin Gadkari inaugurated the 81st annual session of the Indian roads Congress in Lucknow. He was accompanied by the Chief Minister of Uttar Pradesh Yogi Adityanath. On the occasion, he highlighted the aims and dreams of Prime Minister Narendra Modi to make the Indian economy number one in the world, for which good infrastructure is necessary. The new ideas and initiatives by the IRC will help India to achieve it.
The road projects include 13 Road Over Bridges with a fund of one thousand crore rupees.
Nitin Gadkari emphasized the fact that India needs to convert the transport sector which will help the people of India and reduce pollution.
India will reduce the use of Fossil fuel-run transport systems in the next five years.
Chief Minister Yogi Adityanath highlighted the importance of safe roads which will decrease road accidents and provide a safer environment.
Uttar Pradesh hosted the 81st Indian Roads Congress in Lucknow from 8th October to 10th October.

INTERNATIONAL
Pakistan To Take Part In The SCO Anti-Terror Exercise Hosted By India

Pakistan has confirmed that it will attend the Shanghai cooperation organisation’s anti-terror exercises in India. Pakistan, which is a part of SCO will take part in counter-terror drills in Haryana’s Manesar in October. These exercises will be conducted under the ambit of the SCO regional anti-terrorism structure (RAT)
India will be hosting the SCO RATS council meeting on October 14th this year in Delhi. New Delhi has also proposed holding a SCO joint anti-terrorist exercise (JATE) in Manesar this year, something that has been supported by all member countries. The last such anti-terror exercises took place in Pakistan’s Pabbi. On March 25th this year, the 37th meeting of the Council of the Regional Anti-Terrorist Structure of the Shanghai Cooperation Organization (SCO RATS) took place in Tashkent under the chairmanship of India.

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ECONOMY
Space Economy To Touch 13 Billion $ By 2025

India’s space economy is likely to be worth nearly $13 billion by 2025, with the satellite launch services segment set to witness the fastest growth due to increasing private participation, according to a report released .
India’s space economy was pegged at $9.6 billion in 2020 and is expected to touch $12.8 billion by 2025, according to the report titled ‘Developing the Space Ecosystem in India: Focusing on Inclusive Growth’. In dollar terms, the satellite services and applications segment would be the largest with a turnover of $4.6 billion by 2025, followed by ground segment at $4 billion. The satellite manufacturing stands at $3.2 billion and launch services at $1 billion.

IMF cuts global GDP growth projection; IMF expects inflation in India to come down to 4 percent next year

International Monetary Fund has projected that global growth will slow from 6 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. Projecting the growth, IMF said that this will be the weakest growth since 2001, except for the global financial crisis and the acute phase of the pandemic. It said that the world’s largest economies US, China, and the Euro area will continue to stall.
In the World Economic Outlook 2022 report, IMF said that India will be the fastest-growing large economy in the world. Cutting India’s GDP growth forecast to 6.8 percent for Financial Year 2023, the IMF predicted that India will continue to remain on track to become one of the fastest-growing economies in the world.
IMF expects that inflation in India will come down to 4 percent range next year. It said that global inflation will likely peak at 9.5 percent this year before slowing to 4.1 percent by 2024. IMF also warned that a major economic slump is yet to come, and 2023 will feel like a recession to many people.

SPORTS
India beat South Africa by 7 wickets in third and final ODI to clinch the series 2-1

In Cricket, India defeated South Africa by 7 wickets in the third and final ODI in Delhi. With the win, India swept the three-match series 2-1. Chasing the target of 100 runs set by South Africa, India overhauled the target, scoring 105 runs for the loss of three wickets in 19.1 overs.
Shubman Gill made a valuable contribution of 49 runs. Earlier, put into bat first, Proteas were bundled out for 99 runs in 27.1 overs. Heinrich Klaasen remained top scorer with 34 runs. For hosts, Kuldeep Yadav took four wickets, while Washington Sundar, Mohammed Siraj, and Shahbaz Ahmed, scalped two wickets each.
Kuldeep Yadav was declared as player of the Match. Pacer Mohammad Siraj was given the 'Man of the Series award for his consistent performance in the series. He took five wickets in three matches at an average of 20.80 and an economy rate of 4.52. His best bowling figures in the series were 3 for 38.

Published date : 12 Oct 2022 05:19PM