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Current Affairs 22 May 2019
Indian Economy to grow at 7.25% in FY19 7.5% in FY20: OECD
- Organisation for Economic Co-operation and Development (OECD) has said in its Economic Outlook that Gross domestic product (GDP) growth in India is projected to strengthen to close to 7.25% in FY19 and close to 7.5% in FY20.
United Nations Lowers India’s GDP Growth at 7.1% in 2019-20
- The United Nations World Economic Situation and Prospects (WESP) 2019 Mid-year Update report was released on May 21, 2019.
- As per the report, India’s economy is projected to grow at 7.1 percent in the fiscal year 2019-20 on the back of strong domestic consumption and investment.
- For 2018-19 it is 7.0%
Shadow banking 14.3% of total financial assets in India: FITCH
- As per a Fitch Report, Shadow banking assets as a percentage of total financial assets within India, were at 14.3 percent, in line with the global percentage of 13.7 percent.
- The reports pointed out that India’s shadow banking assets were fairly small by international standards, ranking 17th globally at $571.7 billion.
India Successfully Puts RISAT-2B Earth-Observation Satellite into Orbit
- The Indian Space Research Organisation (ISRO) successfully launched its third radar imaging earth observation satellite RISAT-2B into orbit on May 22, 2019.
- ISRO used Polar Satellite Launch Vehicle (PSLV-C46) to launch RISAT-2B from the Satish Dhawan Space Centre into an orbit of 556 km.
- RISAT-2B is a radar imaging earth observation satellite having a weight of about 615 kg. The satellite will help boost the country’s surveillance capabilities and provide services in the field of agriculture, forestry and disaster management among others.
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This was the 72nd launch vehicle mission from the Sriharikota Range of PSLV.
Taiwan Expo 2019 Held In New Delhi
- The Taiwan Expo 2019 was held at Pragati Maidan in New Delhi from May 16 to 18, 2019.
- The expo had 10 theme pavilions with focus on green products, health care, agriculture, tourism, biotechnology and electrical equipments.
- About 150 exhibitors showcased their products in 230 stalls.
TAPI Gas Pipeline Meeting Held in Turkmenistan
- Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline meeting was held on May 19, 2019 in Ashgabat, Turkmenistan.
- The Indian delegation was led by Special Assistant to the Prime Minister on Petroleum, Nadeem Babar.
- The TAPI project envisages laying a 56-inch diameter and 1,680-kilometre pipeline with a capacity of transporting 33 billion cubic meters (BCM) of natural gas per annum from Turkmenistan through Afghanistan and Fazilka near the India-Pakistan border.
- Groundbreaking of the TAPI gas pipeline will be held in Pakistan in October 2019.
- The project is supported by the United States and the Asian Development Bank (ADB), which is acting as the facilitator and coordinator for the project.
Jokha Alharthi wins Man Booker International Prize for Celestial Bodies
- Jokha Alharthi, an author from Oman, has won the prestigious Man Booker International Prize 2019 for her book “Celestial Bodies”.
- She is the first Arabic-language writer to win the prize.
- Her original work ‘Sayyidat el-Qamar ‘ has been translated into English by Marilyn Booth under the title Celestial Bodies.
- The award is given annually to a single book in English translation, with a £50,000 prize, shared equally between author and translator.
Indian Owned Charity Trust in UAE Enters Guinness World Records for Holding Longest Iftar
- Pehal charitable Trust (PCT), a charity run by an Indian in United Arab Emirates (UAE), has entered the Guinness Book of World Records for “Longest Line of Hunger Relief Package” in Abu Dhabi during the holy month of Ramzan.
- The PCT Humanity has been founded by Joginder Singh Salaria.
- The attempt saw record breaking iftar line above 1 kilometer without keeping any gap between the meal packages.
UAE Launches ‘Golden Card’ Permanent Residency Scheme for Expats
- The United Arab Emirates has unveiled a permanent residency scheme for expatriates named “Golden Card” to retain wealthy individuals and exceptional talents.
- The move aims at attracting greater foreign investment and hence strengthening the economy of the country.
- The new scheme will provide permanent residency for investors and “exceptional talents” such as doctors, engineers, scientists, students and artists.
- With an investments of 100 billion dirhams (USD 27 billion), the first phase of the scheme will grant “Golden Card to 6,800 investors from over 70 countries.
Kenyan Author and Gay Rights Activist Binyavanga Wainaina Passes Away
- Renowned Kenyan author, journalist and gay rights activist Binyavanga Wainaina passed away due to illness. He was 48.
- Wainaina helped to create tolerance for the LGBT community in the country
- He was awarded with Caine Prize for African Writing in 2002
- In April 2014, Wainaina was named in TIME 100 as one of the Most Influential People in the World.
World AIDS Vaccine Day: May 18
World AIDS Vaccine Day, (HIV Vaccine Awareness Day), is observed annually on May 18 to promote the continued urgent need for a vaccine to prevent HIV infection and AIDS.
International Day for Biological Diversity: May 22
- The United Nations sanctioned International Day for Biological Diversity (World Biodiversity Day) is observed on May 22 every year to promote biodiversity issues.
- The 2019 Theme of IDB is Our Biodiversity, Our Food, Our Health.