Current Affairs search results for tag: reports
By admin: Dec. 29, 2022

1. FDI investment still more in service sector than manufacturing sector: Ind-Ra report

Tags: Reports Economy/Finance

FDI investment still more in service sector than manufacturing sector: Ind-Ra report

According to a research report published on 28 December 2022 by the India Ratings & Research (Ind-Ra) the Foreign Direct Investment (FDI) in India was still limited to few sectors and maximum investment was still in the service sectors. 

According to Ind-Ra despite the government’s effort to attract more investments in the manufacturing sector through “Make in India" campaign, the FDI inflow is still tilted in favour of the services sector," 

Ind-Ra believes this could be because doing business in the services sector is less complicated than doing business in the manufacturing sector in India. This could also be the reason for the majority of the FDI coming in the manufacturing sector is not a Greenfield investment.

Main points of the report 

The share of the services sector and computer software & hardware in the FDI between April 2014 and March 2022 were as high as 41.3% and 19.6%, respectively, while manufacturing accounted for just 25.4%.

Between April 2000 and March 2014, the share of the services sector and computer software & hardware in such inflows were 37% and 5.9%, respectively, and that of manufacturing was as much as 35.4%.

Of the total FDI inflow of $146.7 billion during October 2019 and March 2022, just four states attracted 83.0% of the FDI with Maharashtra accounting for 27.5%, Karnataka 23.9%, Gujarat 19.1% and Delhi 12.4%.

According to the report three distinct FDI corridors have emerged in India. They are the Delhi National Capital Region (NCR) in the North, Maharashtra-Gujarat in the west and Karnataka-Tamil Nadu-Andhra Pradesh-Telangana in the South.

Among the emerging market economies, India has done reasonably well in attracting FDIs. Only China has been consistently ahead of India.

According to the World investment Report 2022 of United Nations Conference on Trade and Development (UNCTAD), India is ranked 7 FDI destinations globally.

India Rating and Research (Ind-Ra)

India Ratings and Research (Ind-Ra) is a subsidiary of the global rating company Fitch. It is a credit rating agency headquartered in Mumbai. Ind-Ra is recognised by the Securities and Exchange Board of India and Reserve Bank of India.

Chairman, Managing Director and Chief Executive Officer: Rohit Karan Sawhney 


By admin: Dec. 28, 2022

2. Government owned WAPCOS ranked as top consulting firm by the Asian Development Bank

Tags: Reports National Economy/Finance

Services Firm in Water and other Infrastructure Sectors.

The Asian Development Bank(ADB) in its annual Procurement report 2022 has ranked the Government of India owned Water and Power Consultancy Services India Limited (WAPCOS) Company as the top Consulting Services Firm in Water and other Infrastructure Sectors.

In another report on its Members’ Fact Sheet - 2022 released by the ADB, WAPCOS figured amongst the top 3 Consultants from India involved in Consulting Services Contracts under ADB Loan, Grant and Technical Assistance Projects in Energy, Transport and Water & other Urban Infrastructure Sectors.  WAPCOS is the only Indian Public Sector to feature in the above categories.

The Manila, Philippines based Asian Development Bank is a regional development bank for Asia and Asia-Pacific region. It has 68 member countries and it is headed by Masatsugu Asakawa. It also releases the Asian development Outlook report.

WAPCOS 

It was established by the government of India in 1969 under the aegis of the Ministry of Water Resources to utilize India’s knowledge and expertise in the field of water resources by sharing and exporting technology to friendly developing nations.

In 1979 the name of the Company was changed from “Water and Power Development Consultancy Services (India) Limited” to “Water and Power Consultancy Services (India) Limited.”

Apart from India, the Company has successfully completed/on-going consultancy assignments in more than 51 Countries covering Asia, Africa, CIS, Pacific Islands and South America.

Chairman cum Managing Director: Rajni Kant Aggrawal 

Headquarters: New Delhi 


By admin: Dec. 28, 2022

3. 1.53 lakh people died in 4.12 lakh road accidents in 2021: Ministry of Road Transport and Highways Report

Tags: Reports National

Ministry of Road Transport and Highways Report

According to a report released by the Union Ministry of Road Transport and Highways on 28 December 2022 a  total of 4,12,432 road accidents occurred in the 2021 calendar year which claimed 1,53,972 lives while 3,84,448 people were  injured.

The report titled 'Road accidents in India — 2021', said major indicators related to accidents have performed better in 2021 when compared to 2019.

According to the report, "Road accidents decreased by 8.1 percent and injuries decreased by 14.8 percent in 2021 compared to 2019. Fatalities, however, on account of road accidents increased by 1.9 percent in 2021 corresponding to the same period in 2019,”

Not wearing seat belt and helmet a reason for road fatalities 

  • According to the report a total of 16,397 persons were killed in road accidents in 2021 due to not wearing seat belt, of which 8,438 were drivers and remaining 7,959 were passengers.
  • A total of 46,593 persons were killed in road accidents due to not wearing a helmet, of which 32,877 were drivers and 13,716 were passengers.
  • According to the report, not wearing a helmet caused injuries to 93,763 persons and not wearing seat belts caused injuries to 39,231 persons during 2021.
  • Not using safety devices such as helmet and seat belt does not cause accidents but are critical for averting fatal and grievous injuries in the event of road accidents.
  • Although not wearing a seat belt by passengers sitting in the rear seats attracts a fine of Rs 1,000 under Rule 138 (3) of the Central Motor Vehicle Rules (CMVR), most people are either unaware of this mandatory rule or just ignore it.

The country saw an unprecedented decrease in accidents, fatalities, and injuries. This was due to the outbreak of the COVID-19 pandemic and the resultant stringent nationwide lockdown particularly during March-April, 2020 followed by gradual unlocking and phasing out of the containment measures, it said.

The report is based on the data/information received from police departments of states/Union Territories collected on a calendar year basis in standardized formats as provided by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) under the Asia Pacific Road Accident Data (APRAD) base project. 

Union Minister for Road Transport and Highways: Nitin Gadkari 

By admin: Dec. 26, 2022

4. India to become 3rd largest Economy in the world by 2037; CEBR

Tags: Reports Economy/Finance

India to become 3rd largest Economy in the world by 2037; CEBR

The United Kingdom based economics consultancy firm Centre for Economics and Business Research (CEBR) has predicted that India will become the third-largest economy by 2037

Its annual report titled ‘World Economic League Table’ tracks macroeconomic developments globally and countrywise. It presents forecasts for 191 countries of the world.

 According to the 14th edition of the report released on 26 December 2022, it says that in the next five years India's annual economic growth is expected to average 6.4%. After that, the growth is expected to average 6.5% in the subsequent nine years. 

It expects the Indian economy to grow by 6.8% in 2022-23

The reported growth trajectory will see India rise from fifth place on the World Economic League Table’ in 2022 to third in the global rankings by 2037 after China and the United States of America.

According to the International Monetary Fund (IMF), India is expected to become the 3rd largest economy in the world by 2027-28.  According to the SBI EcoWrap report India is likely to become the 3rd largest economy in 2029.

According to the IMF India is likely to overtake Great Britain and become the 5th largest economy in 2022-23 after the United States, China, Japan and Germany.


By admin: Dec. 20, 2022

5. Puducherry and Aizawl (Mizoram) adjudged best performing State and District in Social Progress Index

Tags: Reports INDEX National

State and District in Social Progress Index

The Prime Minister Economic Advisory Council (PMEAC) on 20 December 2022 released the Social Progress Index (SPI) for States and Districts prepared by the Institute for Competitiveness and Social Progress Imperative.

The index assesses states and districts based on 12 components across three critical dimensions of social progress - Basic Human Needs, Foundations of Wellbeing, and Opportunity. The index uses an extensive framework comprising 89 indicators at the state level and 49 at the district level.

  • Basic Human Needs assess the performance of states and districts in terms of Nutrition and Basic Medical Care, Water and Sanitation, Personal Safety and Shelter.
  • Foundations of Wellbeing evaluates the progress made by the country across the components of Access to Basic Knowledge, Access to Information and Communication, Health and Wellness, and Environmental Quality.
  • Opportunity focuses on Personal Rights, Personal Freedom and Choice, Inclusiveness, and Access to Advanced Education.

Based on the SPI scores, states and districts have been ranked under six tiers of social progress. The tiers are Tier 1: Very High Social Progress; Tier 2: High Social Progress; Tier 3: Upper Middle Social Progress; Tier 4: Lower Middle Social Progress; Tier 5: Low Social Progress; and Tier 6: Very Low Social Progress.

Top Ranked States/Union Territories 

State /Union Territories 

SPI

Rank 

Puducherry

65.99

1

Lakshadweep

65.89

2

Goa

65.53

3

Sikkim

65.10

4

Mizoram

64.19

5

Bottom Ranked State 

Jharkhand was ranked at the bottom, 36th with SPI score of 43.95 and Bihar was ranked at 35th with a score of 44.47. 

Uttar Pradesh with a SPI score of 49.16 was ranked 31st and was put in the Low Social progress category.  

Top performing districts  

Aizawl (Mizoram), Solan (Himachal Pradesh), and Shimla (Himachal Pradesh) are the top 3 best-performing districts.


By admin: Dec. 18, 2022

6. India ranked 3rd globally in the publication of scientific papers; Union Minister Jitendra Singh

Tags: Reports National Science and Technology Person in news

India ranked 3rd globally in the publication of scientific papers

According to the Union Minister for Science & Technology Dr Jitendra Singh India has been ranked 3rd globally in the publication of scientific papers. Quoting the National Science Foundation (NSF)’s Science & Engineering Indicators 2022 report of the United States, India’s position globally in scientific publications, has improved from 7th position in 2010 to 3rd position in 2020. He also said that India’s scholarly output increased from 60,555 papers in 2010 to 1, 49,213 papers in 2020.

China leads the world in the publication of the maximum number of scientific papers followed by The United States of America.

Dr Jitendra Singh also said that India now ranks 3rd in terms of the number of PhDs in science and engineering. 

The National Science Foundation is an independent agency of the United States government that supports fundamental research and education in all the non-medical fields of science and engineering.


By admin: Dec. 16, 2022

7. ADB keeps India growth rate forecast at 7% for 2022-23

Tags: Reports Economy/Finance

ADB keeps India growth rate forecast at 7% for 2022-23

The Asian Development Bank (ADB) in its latest report “Asian Development Outlook” Supplement December 2022 issued on 14 December 2022 has kept its forecast on the Indian economy growth rate for 2022-23 to 7%. In 2021-22 the Indian economy grew by 8.7%.

The ADB in its last report issued in September had forecasted the growth rate of 7% for the Indian economy in 2022-23.  The ADB expects India to grow by 7.2% in 2023-24.

According to the National Statistical Office (NSO), the Indian economy grew by 6.3% in Q2 (July-September) of the fiscal year 2022-23.

However in its recent Monetary policy statement the Reserve Bank of India had revised the Indian economy growth rate in 2022-23 to 6.8% from its earlier 7% forecast.

Other key points of the report

ADB expects the Asia Pacific region to grow by 4.2% in 2022 (January -December) and 4.6% in 2023. 

The South Asian region is expected to grow by 6.5% in 2022 and by 6.3% in 2023 due to slow down in the Bangladesh economy and flooding in Pakistan.

Asia’s largest economy China is expected to grow by 3% in 2022 down from its earlier forecast of 3.3%.

Asian Development Bank (ADB)

It is a regional multilateral financial institution which focuses on the countries of Asia and Pacific region.

It was set up after a resolution was passed at the first Ministerial Conference on Asian Economic Cooperation held by the United Nations Economic Commission for Asia and the Far East in 1963.

It started functioning from 19 December 1966 with 31 member countries.

At present it has 68 members—of which 49 members are from within Asia and the Pacific and 19 outside.

Japan is the largest shareholder of the ADB and a Japanese has always been the head of the ADB.

President of ADB: Masatsugu Asakawa 

Headquarters: Mandaluyong City, Manila, Philippines 


By admin: Dec. 8, 2022

8. Nirmala Sitharaman among 6 Indians on Forbes list of world's most powerful women

Tags: Reports International News

Nirmala Sitharaman among 6 Indians on Forbes list of world's most powerful women

Forbes on December 7 released its annual list of the 100 Most Powerful Women in the World, 2022, in which six women from India feature.

Important facts

  • It includes Finance Minister Nirmala Sitharaman along with Biocon Executive Chairperson Kiran Mazumdar-Shaw, HCL Tech Chairperson Roshni Nadar Malhotra and Nykaa CEO Falguni Nair along with two more names.

  • The Finance Minister of India has been included in this list for the fifth time in a row.

  • This list also includes 39 CEOs and 10 heads of state, apart from this it includes 11 billionaires, whose total assets are $ 115 billion.

  • The list was determined by four main metrics: money, media, impact and spheres of influence. 

Name of six Indians

  1. Union Finance Minister Nirmala Sitaraman - ranked 36, is on the list for the fourth time in a row.

  2. Roshini Nadar Malhotra, Chairperson of HCLTech - ranked 53rd.

  3. Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI) -ranked 54th.

  4. Soma Mondal, Chairperson of the Steel Authority of India - ranked 67.

  5. Mazumdar-Shaw, executive chairperson and founder of Biocon Limited and Biocon Biologics Limited - ranked 72.

  6. Falguni Sanjay Nayar, the founder and CEO of the beauty and lifestyle retail company Nykaa - ranked 89th.

Top 3 women in the world in Forbes list

  1. The list was topped by European Commission President Ursula von der Leyen, who played a key role in handling COVID -19 crisis, the Russia-Ukraine war, etc.

  2. European Central Bank President Christine Lagarde stood at second position on the list.

  3. US Vice President Kamala Harris ranked third on the list. 

Iran's Zina "Mahsa" Amini was posthumously ranked 100th on the influential list. His death in September sparked one of Iran's worst public protests.


By admin: Dec. 7, 2022

9. IPL remains the most searched query on Google in India on 2022

Tags: Reports National

IPL remains the most searched query on Google in India on 2022

According to Google’s annual yearend report titled “Year in Search 2022," on 7 December 2022, the Indian Premier League (IPL) cricket tournament remained the top trending query for the third consecutive year.

 It was followed by CoWIN, a government web portal that facilitates registrations and appointments for COVID-19 vaccines and issues digital vaccine certificates.

The third most searched trending topic in India was the FIFA World Cup, which kicked off on November 20 in Qatar. 

The fourth and fifth positions too were occupied by sports events namely the Cricket Asia Cup and ICC Men's T20 World Cup, respectively. Bollywood blockbuster Brahmastra: Part One – Shiva secured the sixth rank.

Most searched personalities in India in 2022

The most searched personalities in India in 2022 included suspended BJP spokesperson Nupur Sharma, who bagged the first spot. 

She was followed by President of India Droupadi Murmu, new United Kingdom Prime Minister Rishi Sunak, and at the 4th spot was Lalit Modi.

 

By admin: Dec. 6, 2022

10. World Bank increases India’s GDP growth forecast to 6.9% for 2022-23

Tags: Reports Economy/Finance

World Bank increases India’s GDP

The World Bank has forecasted 6.9% growth rate for the Indian economy in 2022-23, saying the economy was showing higher resilience to global shocks. In October, it had cut India's GDP growth forecast to 6.5 percent from 7.5 percent earlier. 

In its India Development Update released on 6 December 2022, the World Bank said the revision was due to higher resilience of the Indian economy to global shocks and better-than-expected second quarter numbers.

India's gross domestic product (GDP) grew 8.7 percent in the previous 2021-22 financial year. 

In the second quarter of 2022-23 (July-September) fiscal year it grew by 6.3%.

The Reserve Bank of India expects the Indian economy to grow by 7 % in 2022-23.