IMF
Category: Economy
- The International Monetary Fund (IMF) has projected that global growth will be 3.3% in 2019, down from 3.6% in 2018 and 4% in 2017 in its report World Economic Outlook.
- This lower projection is due to a slower global expansion in the second half of 2018 caused by U.S.-China trade tensions, macroeconomic stress in Turkey and Argentina, tighter credit policies in China and financial tightening, apart from a normalisation of monetary policy in advanced economies.
- India’s growth is projected to pick up, from 7.1% in 2018, to 7.3% in 2019 and 7.5% in 2020, supported by the continued recovery of investment and robust consumption amid a more expansionary stance of monetary policy and some expected impetus from fiscal policy.
Matara-Beliatta
Category: international
- Sri Lanka has opened a new railway line, built with China’s assistance, connecting its coastal city of Matara and Beliatta in Hambantota, a move that will boost passenger traffic into the island nation’s deep south.
- The 26.75-km long Matara-Beliatta railway extension is the first to be constructed in Sri Lanka since 1948
Gold Reserves
Category: Economy
- India has marginally increased its gold holding while maintaining the tenth position among countries in terms of yellow metal reserves, as per latest data from the World Gold Council (WGC).
- As per WGC, India had total gold reserves of 608.7 tonnes.
- India’s overall ranking is pegged at 11 as the International Monetary Fund (IMF) boasts of gold reserves of 2,814 tonnes to occupy the third position after the U.S. (8,133.5 tonnes) and Germany (3,369.7 tonnes).
Direct Tax
Category: Economy
- The government is estimated to have witnessed a shortfall of Rs 50,000 crore in direct tax collection target of Rs 12 lakh crore for 2018-19.
- Direct tax collection for 2018-19 is around Rs 11.5 lakh crore.
- The government had revised the direct tax collection target upwards to Rs 12 lakh crore from the original Budget Estimate of Rs 11.5 lakh crore for 2018-19.
IX Millenium
Category: Science & tech
- Georgia aims to grow grapes on Mars.
- Georgia has ancient wine-making tradition.
- Now it wants to be the first to grow grapes on Mars.
- Georgia has started a project to develop grape varieties that can be grown on Mars. The project is called IX Millennium — a reference to Georgia’s long history of wine-making.
Mueller Report
Category: International
Mueller report is a probe into whether Donald Trump may have colluded with Russia during the presidential campaign.
