India poised to become world’s 5th largest economy: Modi

India is on the way to becoming the fifth largest economy in the world, Prime Minister Narendra Modi said recently. He was addressing the India-South Africa Business Forumorganised jointly by Indian Industry Chambers CII, FICCI and Assocham in the presence of visiting South African President Cyril Ramaphosa.

  • According to the projections released earlier this week by British consultancy multinational PwC, India is likely to surpass the UK in the 2019 rankings of world’s largest economies, knocking the latter from fifth to seventh place in the global table.

Health research money increased by Rs 147 crore in India

Public funding in India in the field of research and development for neglected diseases has increased significantly by Rs 135 crore since 2009, says a new report. The report conducted by G-Finder a project that tracks and reports on global investments into research and development (R&D) for neglected diseases suggested that funding from Indian Council of Medical Research (ICMR) increased by Rs 147 crore.

  • Globally, the money invested in research and development has reached USD 3.5 billion, an increase by 7 per cent from the previous year. The largest funder, as per the report is the US government, which through its National Institutes of Health provided 39 per cent of the total.

WHO lists 10 threats to global health in 2019

The World Health Organization (WHO) has listed out 10 global health threats for 2019, adding that millions of lives will be at risk if these threats are not addressed. According to the WHO, the plan focuses on a triple billion target that includes ensuring 1 billion more people benefiting from access to universal health coverage, 1 billion more people being protected from health emergencies and 1 billion more people enjoying better health and well-being.

  • Air pollution and climate change, Non-communicable diseases, Global influenza pandemic, Fragile and vulnerable settings, Antimicrobial resistance, Ebola and other high-threat pathogens, Weak primary health care, Vaccine hesitancy, Dengue & HIV are the health issues which need urgent attention. 

MP announces employment scheme for urban poor youth

On the occasion of Republic Day, Madhya Pradesh Chief Minister Kamal Nath announced the launch of the ‘Yuva Swabhiman Yojana’ for youths from the economically weaker sections in urban areas.

  • Under this scheme, 100 days of employment will be provided to youths from economically weaker sections in urban areas. They will also be given skill training. While those in rural areas get employment under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), the urban poor youth are left out. This scheme will effectively cover them.

‘Nari Shakti’ announced as Oxford Dictionaries’ Hindi Word of the Year

Oxford Dictionaries announced that ‘Nari Shakti’ as its Hindi Word of the Year for 2018 at the ongoing Jaipur Literature Festival. The Hindi Word of the Year is a word or expression that has attracted a great deal of attention and reflects the ethos, mood or preoccupations of the past year.

  • Derived from Sanskrit, Nari means ‘woman’ and Shakti means ‘power’. Today the term is used to symbolise women taking charge of their own lives.


China to become world’s biggest retail market in 2019: Research firms eMarket

China is poised to become the world’s top retail market in 2019, displacing the US. China’s retail sales this year will surpass that of the US by more than $100 billion, according to eMarketer’s latest worldwide retail and ecommerce forecast. 

  • This year, China’s total retail sales will grow 7.5% to reach $5.636 trillion. For comparison, US retail sales will grow 3.3% to reach $5.529 trillion. Growth rates are slowing for both countries, but China’s growth rate will exceed that of the US through 2022.


Parthasarathi Mukherjee to head Lakshmi Vilas Bank for another two years

Private sector Lakshmi Vilas Bank has reappointed Parthasarathi Mukherjee as its managing director when the lender is struggling to raise Rs 2000 crore from investors.

  • Mukherjee will he at the helm for another two years. Reserve Bank of India has approved his reappointment.
  • Extra info.:
    Lakshmi Vilas Bank Headquarters: Chennai


NRL receives Best Miniratna PSU award


Numaligarh Refinery Limited (NRL) has been awarded the best miniratna PSU in strategic performance (financial category) at the Governance Now Sixth PSU awards. The award, comprising of a trophy, was presented to NRL MD S K Barua by Member of Parliament Manoj Tiwari and veteran actress and social activist Poonam Dhillon at an award function held in New Delhi recently.

  • Extra info.:
    NRL HQ: Assam
    Parent organization: Bharat Petroleum


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