DAILY G.A UPDATE : 04-10-2016
In this competitive age, everyone needs to be updated with the current affairs. So, here is the important news for your upcoming exams like IBPS PO, IBPS CLERK, RRB and many more.
1. Yesudas to be brand ambassador of ‘Haritha Keralam’ project
CPI (M)-led LDF government has roped in eminent Carnatic vocalist and playback singer K J Yesudas as the brand ambassador of its ambitious ‘Haritha Keralam’ (Green Kerala) project, a massive initiative envisaged for a garbage-free and clean state.
2. 8% economic growth not before 2018-19: Fitch
Fitch Ratings projected Indian economy to grow at a slower pace of 7.4 per cent in the current fiscal and touch 8 per cent growth only in 2018-19, as it expects the benefits of reforms and impact of monetary easing to kick in with a lag. The US-based rating agency projected Reserve Bank of India (RBI) lowering interest rates by 0.25 per cent before end of 2016, followed by another rate cut in 2017.
Fitch Ratings latest bi-monthly Global Economic Outlook (GEO) report said "We forecast GDP growth to accelerate gradually from 7.4 per cent in FY17 (year ending March 2017) to 8.0 per cent in FY19". It projected the growth to be at 7.9 per cent in 2017-18.
The Indian economy grew 7.6 per cent last year.
3. Reliance-Dassault JV to execute Rafale deal
The Anil Ambani-led Reliance group said it had tied up with Dassault Aviation to help the French company spend up to $4.51 billion that it must invest in India as part of a recent fighter jet deal it clinched.
Dassault agreed to invest 50 per cent in so-called offsets of the $8.7 billion deal it signed with India on September 23 to supply 36 of its Rafale fighter jets. Reliance said the offset contract is India's biggest ever.
Reliance, which has virtually no experience of defence manufacturing, hopes to turn into a major defence firm over the coming years. The agreement with Dassault is a bet that Reliance can build manufacturing facilities at Nagpur to feed into Dassault's supply chain, or for future government orders of the Rafale jet.
A person familiar with the agreement said part of the Rs 30,000 crore in offsets would be spent directly on Reliance manufactured products, and the rest would be spent through other Indian manufacturers, depending on which company could best carry out the work.
According to senior executives, Reliance had bid for Rs 84,000 crore in government contracts, but was yet to win any. Other Indian companies with an interest in defence and aerospace include Tata Group, Mahindra Group and Larsen & Toubro.
4. India's GDP growth to remain strong: World Bank
Describing South Asia as a global growth hotspot, the World Bank has said India's GDP growth will remain strong at 7.6 percent in 2016 and 7.7 percent in 2017.
5. Author Arundhati Roy announced her next novel
Author Arundhati Roy announced her next novel, 'The Ministry of Utmost Happiness', set to be published in 2017 by the Penguin Random House.
6. RBI cuts policy rate by 0.25 per cent
RBI cuts policy rate by 0.25 per cent to 6.25 per cent. RBI retains GDP growth rate at 7.6 per cent for current fiscal.
Reverse repo rate under the LAF is now 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate is 6.75 per cent.
7. Nobel Prize in Physics 2016
David Thouless, Duncan Haldane and Michael Kosterlitz has been awarded the Nobel Prize in Physics 2016.
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