Here’s your daily summary of Current Affairs.
There are three factors that will enable India to achieve this goal-
1. Reduced dependency ratios are expected to raise saving and investment rates. This is likely to fund 7% real growth.
2. Financial maturity, due to financial liberalization and inclusion, should continue to lower lending rates structurally.
3. Increasing incomes and affordability will likely underpin the emergence of mass markets, supporting an expected 7% real GDP growth.
- June 21 is the UN-designate International Yoga Day.
- The Capital of Saudi Arabia is Riyadh and its Currency is the Saudi Riyal.
Ferrari’s Sebastian Vettel took his first victory since July at the Brazilian Grand Prix, where Lewis Hamilton battled from the back to finish fourth. Vettel controlled the race after taking the lead from pole position man Valtteri Bottas’ Mercedes at the start.
China launches world’s first all-electric ship
China has launched world’s first all-electric ship that can travel up to 80 km with 2000-tonnes cargo after a two-hour charge. The 70.5-metre-long ship, which weighs about 600 tonnes, was launched in Guangzhou in South China’s Guangdong Province. The vessel, manufactured by the Guangzhou Shipyard International Company Ltd, is powered by a 26-tonne lithium battery. It can cruise at the top speed of 12.8 km per hour.
On 12th November 2017, the Space Kingdom of Asgardia has launched its first satellite. This so-called ‘virtual nation’ is the pet project of Russian scientist and billionaire Igor Ashurbeyli. In 2016, he proposed a new nation which would be based in space in order to be outside of the control of nations on Earth. The Asgardia-1 satellite is about the size of a loaf of bread and contains half a terabyte of data. It was launched from NASA’s Wallops Flight Facility in Virginia aboard a Cygnus spacecraft on an Orbital ATK Antares rocket.
Scientist Vijay Prasad Dimri has been appointed as the president of the 36th International Geological Congress (IGC), a global platform for the advancement of earth science, to be held in 2020. He has replaced Shailesh Nayak. India, along with its co-host neighbouring countries Bangladesh, Nepal, Srilanka, and Pakistan won the bid to host the 36th IGC in the National Capital Region from March 2 -8, 2020.
- IGC- International Geological Congress was founded as a non-profit scientific and educational organization in 1878.
- India had earlier organized the 22nd session of IGC at New Delhi in 1964, the first IGC in Asia.
Indian Railways will start ‘Project Saksham’, India’s largest time-bound ‘upskilling’ exercise, to upgrade the skill sets of its 13 lakh employees. ‘Saksham’ is a Hindi word which translates into ‘capable’ in English. ‘Project Saksham’ will begin in January 2018 and will continue till September 2018. This project comprises training courses and specially designed skill-upgrade modules. Every employee of Indian Railways, from the rank of a peon to the Railway Board Members, will have to undergo training under the ‘Project Saksham’.
The National Institute of Ocean Technology (NIOT) is all set to build India’s first offshore desalination plant off the coast of Chennai near Ennore. The capacity of the plant will be to produce 10 million litres of water per day. The project is estimated to cost about Rs 2000 Cr. The project will use Low-Temperature Thermal Desalination technology.