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11th October 2022

 

 

 

 

 

National News

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.

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 (RATS).  A three-member Pakistani delegation will take part in the meeting in Delhi. While the SCO as a grouping came into existence in 2001, India and Pakistan became members of it in 2017.

"Mahakal Lok" 900 m long in MP's Ujjain to be opened by PM

"Mahakal Lok'' corridor first phase of Mahakaleshwar Temple in the city of Ujjain in Madhya Pradesh, is scheduled to open by Prime Minister Narendra Modi. Shivraj Singh Chouhan, the chief minister of Madhya Pradesh, examined the Mahakal Lok's opening preparations.  The "Mahakal Lok" over 900-meter-long corridor's first phase was officially opened as part of the $856 million Mahakaleshwar Temple corridor development project.  The cost to create the corridor was 316 crore.  The old Rudrasagar Lake, which has also been revitalised as part of the development project around the historic Mahakaleshwar Temple, will be skirted by the Mahakal Lok.  Two imposing gateways - Nandi Dwar and Pinaki Dwar - have been erected near the beginning of the corridor, which winds its way to the temple's entrance and provides an aesthetic view along the way.  A 108-pillar colonnade with artistically carved sandstones has been constructed. On the decorative pillars, artisans and artists primarily from Rajasthan, Gujarat, and Orissa have laboured.

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.

Appointments News

Association of Mutual Funds in India: A Balasubramanian re-elected as Chairman

A Balasubramanian has been re-elected as the chairman of the Association of Mutual Funds in India (AMFI), and Radhika Gupta as the vice-chairperson of the industry body. As the chairman of AMFI, A Balasubramanian will also continue as the ex-officio chairman of the AMFI Financial Literacy Committee.  The chairman and the vice-chairperson will hold office until the conclusion of the 28th AGM.  At the recently conducted board meeting of AMFI, post the 27th annual general meeting (AGM) held in September, Vishal Kapoor (chief executive officer, IDFC Asset Management Co. Ltd.) has been re-elected as the chairman of the AMFI Committee of Certified Distributors, while Sundeep Sikka (ED & CEO, Nippon Life India Asset Management Ltd.) has been elected as chairman of AMFI ETF Committee.

Agreements News

NSIC and Utkarsh Small Finance Bank signs MoU

NSIC and Utkarsh Small Finance Bank signs MoU: The National Small Industries Corporation Ltd. (NSIC), a Government of India Enterprise under the Ministry of MSME, signed a Memorandum of Understanding (MoU) with the Utkarsh Small Finance Bank.  This Memorandum of Understanding with the banks intends to assist MSMEs with their lending needs.  The MoU was signed in the presence of Sh. Gaurang Dixit, CMD, NSIC, and Sh. P.R. Kumar, Chief General Manager, NSIC, and Sh. Manoj M.A., Business Head of the bank.  Himani Shali, the Chief Manager, was also present (Bank Tie Up).

 

ECONOMY, BUSINESS AND BANKING

Indian Railways' earning increases 92% YoY to ₹33,476 cr in FY23 till October

Indian Railways said that its total approximate earnings from April 1 to October 8, 2022, is ₹33,476 crore, registering a 92% increase on a year-on-year basis. In reserved passenger segment, the total approximate number of passengers booked during the period increased from 34.56 crore to 42.89 crore. Railways reported a revenue of ₹26,961 crore from reserved passenger segment.

Railways plans to replace fuel-based vehicles with electric vehicles by 2025

As Centre plans to make India a 100% electric vehicle nation by 2030, the railways have floated a policy to replace its fuel-based vehicles, including those running on diesel, biofuels or natural gas, with electric vehicles by December 2025. A vast charging infrastructure would also be set up at major railway stations, office buildings and parking lots under the polic

 

 

Hero MotoCorp Launched EV Scooter Vida V1 in India

Hero MotoCorp launched Vida V1 Electric Scooter in India. The Vida V1 Electric Scooter is commenced to be booked for Rs 2,499 in India. The bookings are open for Delhi, Jaipur, and Bengaluru only.  The Hero Motocorp, Vida V1 Electric Scooter will be available in phases for the customers and deliveries will start in the second week of December 2022. The Vida V1 is highly customizable and comes in two variants, VIDA V1 Plus and VIDA V1 Pro.  There are two variants of the Vida V1 Electric Scooter, VIDA V1 Plus and VIDA V1 Pro which are available for Rs 1,45,000 and Rs 1,59,000 respectively.  The two variants of electric scooters are highly versatile with a top speed of 80 kmph and a charging time of 1.2 km/min.  The Vida V1 Pro has a range of 165 km whereas Vida V1 Plus has a range of 143 km.  Hero MotoCrop aims to build the EV category and grow its scale. The Hero MotoCrop has launched the Vida V1, VIDA Platform, and VIDA Services

DEFENCE

China More Self-Reliant in Defence Production, Outranks India by Massive Margin

India stands at fourth position among 12 countries of the Indo-Pacific in self-reliant defence production, says a study by the Stockholm International Peace Research Institute (SIPRI) that assessed self-reliance in arms production.  China dominated the list leaving others behind by a long margin. China dominates the ranking, reaching a self-reliance score more than two and a half times higher than Japans," the study by Stockholm International Peace Research Institute (SIPRI), a think tank on global security issues says.  The study covered Australia, China, India, Indonesia, Japan, South Korea, Malaysia, Pakistan, Singapore, Taiwan, Thailand and Vietnam. Vietnam could not be included in the final ranking due to a lack of data.

 

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Sports News

What multiple records did India break in 3rd ODI against South Africa?

The 3rd ODI marked India's biggest win while chasing against South Africa in terms of balls remaining (185). India dismissed South Africa below 100 in an ODI for the first time. India also equalled the record for most wins in international cricket in a calendar year (38). India have now won the most number of ODI series (five) in 2022.

Will try to win remaining races: Verstappen after winning world title

2022 F1 world champion Max Verstappen said he will "definitely try" to win the remaining four races of the season. "There is no real pressure anymore but I still want to of course try and win more," said Verstappen. He added that he wanted to extend the current advantage as it may not be there "in the years to come".

Sourav Ganguly declines IPL Chairman post, to be out of BCCI: Report

Sourav Ganguly's tenure as BCCI President will come to an end next week when Roger Binny will replace him at the annual general meeting, the Indian Express reported. Ganguly was offered the post of IPL Chairman, however, he declined the offer, the report added. The BCCI won't back Ganguly for the post of ICC Chairman as well, the report stated.

Harmanpreet Kaur and Mohammed Rizwan seal ICC Player of the Month crowns for September

The International Cricket Council (ICC) has announced the winners of the ICC Player of the Month awards for September 2022. India’s inspirational captain Harmanpreet Kaur is named the recipient of the ICC Women’s Player of the Month award, While Pakistan ace Mohammad Rizwan claims the ICC Men’s Player of the Month award.  Harmanpreet Kaur becomes India’s first winner of the ICC Women’s Player of the Month. The India skipper was at her brilliant best during the ODI series, scoring 221 runs across the three matches, maintaining a strike rate of 103.47 and only being dismissed once.  Mohammad Rizwan secures his first-ever ICC Men’s Player of the Month crown after a remarkable spell of scoring throughout September and sees him overcome fellow nominees Cameron Green (Australia) and Axar Patel (India) to the prize.

Cristiano Ronaldo reached record 700 club career goals

Cristiano Ronaldo reached another historic landmark in his extraordinary career by scoring his 700th club goal to seal Manchester United’s comeback win over Everton.  The 37-year-old Portuguese forward becomes the first and only player in this present generation to score seven times a hundred goals in football history.  His 700th club goal extends his tally over Lionel Messi with Argentina forward scoring 691 goals for Fc Barcelona and Paris Saint Germain.

37th National Games: Goa to host Games in October 2023

The Indian Olympic Association has confirmed that Goa will host the 37th edition of the National Games in October next year. The state government of Goa also conveyed its in-principle approval to IOA to host the National Games in 2023.  The Goa delegation may receive the IOA flag at the Closing Ceremony of the 36th National Games on 12th October 2022 in Surat, Gujarat.  The 37th National Games will be decided to keep in view of the dates of the 19th Asian Games, which will be held from 23rd September to 8th October 2022 in Hangzhou, China.

36th National Games: Pooja Patel becomes first athlete to win Gold in Yogasana

At the 36th National Games, Pooja Patel of Gujarat has become the first athlete to win gold in Yogasana. Yogasana is one of the five sports to be played at the National Games this year for the first time.  This Indian indigenous sport made its debut at the Khelo India University Games earlier this year. The word yogasana is derived from two Sanskrit words, Yuj meaning unite and Asana meaning body postures.  Yogasana is a sport that focuses on the physical aspect of yoga, where players have to perform yogic postures and are judged on their difficulty, balance, control, flexibility and endurance.

Important Days

International Day of the Girl Child observed on 11th October

International Day of the Girl Child is observed on October 11 to raise awareness about the importance and potential girls hold as the future of our society. In 2022, we commemorate the 10th anniversary of the International Day of the Girl (IDG).  The International Day of the Girl Child focuses attention on the need to address the challenges girls face and to promote girls’ empowerment and the fulfilment of their human rights.  This year’s theme for the International Day of the Girl Child is “Our time is now—our rights, our future". The focus is on the multitude of challenges put in front of girls’ path to reach their potential.

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