- A task force on employment has been set up by the Economic Advisory Council to the Prime Minister to suggest the growth of slowdown thereby creating Jobs. The task force is headed Bibek Debroy.
- Shanghai branch of the State Bank of India becomes the first Indian Bank to be connected with China’s National Advanced Payment System. This system provides real-time settlement of all the payment services in China and Hongkong.
- The government had reconstituted a Group of Ministers to tackle mob lynching in 2018. This GoM will now be headed by Amit Shah replacing Rajiv Gauba. The cases of mob lynching are on high currently and requires firm and immediate actions.
- The state government of West Bengal has launched a statewide environmental awareness campaign to preserve the greenery called ‘Save Green, Stay Clean’. The government will provide 1lakh saplings in this drive.
- London-based risk analytics firm Verisk Maplecroft has stated that India is 46th high-risk country in the world on the Water Stress Index 2019. The cities facing the extreme risk of water crisis are Delhi, Chennai, Bengaluru, Hyderabad, Nashik, Jaipur, Ahmedabad and Indore.
- Harvard business school alumni Rishad Premji has been recently appointed as the new executive chairman of Wipro Ltd. Azim Premji will now be the non-executive director.
- With the aim of improving the health of babies, every year World Breastfeeding Week is celebrated across the world from August 1 to 7.This year the theme is – Empower Parents, Enable Breastfeeding. As per WHO, 60% of babies are deprived of being breastfed which is a very important source of energy and nutrients in children aged between 6–23 months. It reduces the risk of breast and ovarian cancer along with type 2 diabetes and heart disease in the mother and prevents early-stage diarrhea and acute respiratory infections in infants.
- The Indian Space Research Organisation has decided to come up with the Space Situational Awareness Control Centre in Bengaluru to protect its space assets. This control center would protect its assets from non-engaging satellites, pieces of objects, asteroids and unfavorable space weather conditions. It will collect tracking data to analyze and generate useful information. As there is a rise of manmade debris in space, it increases the collision threat hence Space Situational Awareness & Management is required.
- In a bid to improve the liquidity in the housing finance sector, the National Housing Bank has decided to infuse an additional Rs 10,000 crore. This will aid the companies to provide affordable home loans. However Rs 500 crore is the maximum amount for each HFC.
- The state government has approved the Virgin Hyper loop track between Mumbai and Pune. Maharashtra will create first hyper loop transportation system in the world projecting it to be a global supplier. Virgin Hyper loop and DP world have collaborated together for the project. Hyper loop is a low-pressure tunnel with a specially designed pod around it which travel not on wheels but air. Expected to take a time span of seven years, the Virgin will begin its work by this year-end. The project will be financed by DP world with the initial investment of 500 million dollars.
- New technology to generate energy from solid waste with high moisture content has been developed by a research team at IIT Kharagpur. Named as Hydro Thermal Carbonization, it can convert solid waste to biofuel and soil absorbents. In this industrial reactor once the organic waste is entered then all the outputs generated are usable entirely.
- The Indian Army has launched e-cars for its officials in partnership with Energy Efficiency Services Ltd. This initiative is in line with government policies on environmental protection. This pilot project will have 10 e-cars to ensure minimal emissions with maximum efficiency.
- In partnership with the lab of Ladakh Autonomous Hill Development Council, the Bureau of Indian Standards will be setting up a Pashmina testing center in Leh. This decision was made in the recent motorbike expedition ‘Drive for Pashmina’ held to spread awareness and promote the fabric. The BIS would set up the lab in two months time and will appoint scientists to check the quality. Local people will also be hired and trained to work in Ladakh, parts of Himachal Pradesh and Kashmir as these regions produce world-class pashmina.
- A data compiled by the World Bank shows that India has slipped down to the 7th place in the global GDP rankings of 2018. The country’s recorded GDP is $2.73 trillion last year. India has set a target of becoming $5 trillion economies by 2024.
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