By: D.K Chaudhary
1. India Signs Loan Agreement with World Bank for USD 48 million for Meghalaya
i. A Loan Agreement for IBRD loan of USD 48 million for the “Meghalaya Community – Led Landscapes Management Project (MCLLMP)” was signed with the World Bank.
ii. The Objective of the Project is to strengthen community-led landscapes management in selected landscapes in the State of Meghalaya.
- Meghalaya CM- Conrad Sangma, Governor- Ganga Prasad.
2. Government Revises Target to Complete PMGSY from Year 2022 to 2019
i. The Union Government has stated that the Pradhan Mantri Gram Sadak Yojana or PMGSY is well on its way to achieving the target by March 2019. The scheme, since its inception in 2000, has been able to provide connectivity to more than One lakh 50 thousand habitations.
ii. Sensing the importance and urgency of rural roads for national development, the target date for completion of PMGSY-I has been preponed from 2022 to 2019.
3. Bengaluru Highest Paying City For Talent: Report
i. The garden city of Bengaluru is found to be the highest paying city in the country, with an average annual cost to company (CTC) for talent across all levels and functions standing at about Rs 11 lakh, according to Randstad Insights, the research and analysis division of Randstad India.
ii. Pune stands second at around Rs 10 lakh, followed by Delhi NCR and Mumbai with an average annual CTC figure of a little under Rs 10 lakh and around Rs 9 lakh, respectively.
- Bengaluru is the capital city of Karnataka.
- CM of Karnataka- Siddaramaiah.
- Governor of Karnataka- Vajubhai Rudabhai Vala.
4. World Bank Projects India’s Growth Rate at 7.3% for 2018-19
i. The World Bank has projected a growth rate of 7.3% for India this year and 7.5% for 2019 and 2020. The bank also noted that Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax.
ii. The World Bank in its twice-a-year South Asia Economic Focus report in Washington stated that growth is expected to accelerate from 6.7% in 2017 to 7.3% in 2018 and to subsequently stabilise supported by a sustained recovery in private investment and private consumption.
- President of the World Bank- Jim Yong Kim.
- Headquarters of World Bank: Washington, DC.
5. UK Joins International Solar Alliance to Mark Narendra Modi Visit
i. The United Kingdom joined the India-led International Solar Alliance (ISA) ahead of Prime Minister Narendra Modi’s four-day visit to Britain.
ii. At an event held at the London Stock Exchange as part of the Commonwealth Heads of Government Meeting 2018 (CHOGM), Britain formally announced its membership of the alliance.
iii. This alliance aims to raise $1 trillion of private and public finance to provide affordable and sustainable energy for all by 2030.
- The United Kingdom Capital- London, Currency- British pound, Prime Minister- Theresa May.