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MH60R Helicopter lands at INS Vikrant
  • While our country is becoming self-sufficient in air force logistics, Prime Minister Narendra Modi dedicated a huge aircraft carrier named INS Vikrant to the Navy in September last year. With this indigenously produced ship, India has joined the list of countries producing aircraft carriers capable of carrying a weight of more than 40,000 tonnes. 
  • Built at a total cost of Rs 23,000 crore, INS Vikrant has state-of-the-art facilities to repel air and sea-based missile attacks. 30 warplanes and helicopters can be deployed on this ship at the same time. In this, exercises are going on to land various warplanes. 
  • In this situation, MH-60R helicopter, IN, which can accurately attack submarines bought from America and added to the Indian Navy. It was successfully landed at Vikran, India yesterday. 
  • The helicopter, which is armed with air-to-ground surface-to-air missiles, precision-attack rockets, MK-54 surface-to-surface missiles, was first deployed by INS earlier this month. Surveillance Capability To add further strength to the surveillance capabilities of the Indian Navy, it has also been landed on board Vikrant.
GDP up 6.1% in 4th quarter
  • India's economy grew by 7.2 percent in the last financial year, with gross domestic product (GDP) growing by 6.1 percent in the fourth quarter, the central government said.
  • GDP growth picked up in the January-March quarter after a decline in the previous two quarters. GDP grew by 4.5 percent in the third quarter from October to December. The fourth-quarter estimate is 4 percent higher than the growth achieved at the same point in the previous year. The overall estimate for fiscal 2022-23 is lower than the previous year's 9.1 percent growth.
  • The Reserve Bank of India has estimated GDP growth at 7 percent in FY 2022-23. RBI Governor Shaktikanta Das, however, had said that he would not be surprised if GDP growth was higher than the projected estimate. Trade, hotels and transport sectors registered a growth of 14 percent.
  • In a recent research report, US-based economic rating agency Moody's has said that India will be the fastest growing economy among the G20 countries in the next few years.
  • Urbanization in India will increase the demand for houses and cars. Meanwhile, government infrastructure spending will boost demand for steel and cement, the Moody's report said.
Cabinet approves establishment of Universal Postal Union Regional Office at New Delhi
  • The Union Cabinet chaired by Prime Minister Narendra Modi has approved the establishment of a Universal Postal Union (UPU) Global Regional Office in New Delhi. By entering into an agreement with the UPU, India will engage in development cooperation and technical assistance activities in the region.
  • The approval will enable India to participate in multilateral institutions in the postal sector with emphasis on South-South and triangular cooperation. India will provide a field project specialist, staff and office to UPU's regional office. 
  • Programs such as capacity building and training, improvement of efficiency and quality of postal services, improvement of postal technology, e-commerce and trade development will be prepared and implemented by this office in collaboration with UPU.
  • This initiative will help expand India's imperial relations with other countries. It will enhance India's presence especially in the Asia-Pacific region and global postal forums.
Union Cabinet approves constitution of Inter-Ministerial Committee (IMC) to implement World's Largest Food Grain Storage Scheme under Cooperative Sector
  • Prime Minister to set up an Inter-Ministerial Committee (IMC) to coordinate and implement various schemes of the Ministry of Agriculture and Farmers' Welfare, Ministry of Consumer Affairs, Ministry of Food and Public Distribution and Ministry of Food Processing Industries to facilitate the implementation of World's Largest Grain Storage System Scheme in the Cooperative Sector. Mr. The approval was given in the Union Cabinet meeting chaired by Narendra Modi today (31-05-2023).
  • To ensure timely and consistent implementation of the scheme in a professional manner, the Ministry of Cooperatives will implement the pilot scheme in selected districts in various states and union territories of the country. 
  • The scheme will be implemented in at least 10 districts. In the first phase, based on the experiences gained from the program at the beginning, procedures will be developed for the comprehensive implementation of the program nationwide.
Cabinet approves Plan 2.0 to attract investment to innovate, integrate and sustain cities from 2023 to 2027
  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the City Investments 2.0 project called CITIIS 2.0 to innovate, integrate and sustain cities. CITIIS 2.0 is a project developed by the Ministry of Housing and Urban Affairs in collaboration with the French Development Agency (AFD), the Credit Agency for Reconstruction (CFW), the European Union (EU), and the National Agency for Urban Affairs (NIUA). The Hind plan will be implemented for a period of four years, i.e. from 2023 to 2027.
  • The program will support competitive projects promoting the circular economy by focusing on integrated waste management at the city level, climate-specific reform measures at the state level, institutional strengthening and knowledge dissemination at the national level.
  • Funding for CITIIS 2.0 includes a loan of Rs 1760 crore (200 million Euro), (AFT and KWW each 100 million Euro), and a technical assistance grant of Rs 106 crore (12 million Euro) from the European Union.
  • CITIIS 2.0 aims to build on and measure the successes of CITIIS 1.0. The total cost of CITIIS 1.0 is Rs 933 crore (106 million Euro).
3rd Employment Working Group meeting in Geneva
  • The third meeting of the Employment Working Group under the G-20 chairmanship of India will be held from May 31 to June 2, 2023 at the International Labor Organization headquarters in Geneva, Switzerland. 78 delegates from 20 G-20 member countries, 9 allied countries and 4 international organizations are participating in this meeting.
  • This meeting of the Employment Task Force is an important step towards building consensus among the G-20 countries on the 3 key objectives of the Employment Task Force 2023 chosen by the Indian leadership. 
  • The meeting started with an opening address by Mrs. Aarti Ahuja, Secretary, Ministry of Labor and Employment and Chairman, Employment Task Force. He urged the Employment Task Force to be mindful of its responsibilities. Indramani Pandey, India's Permanent Representative to the UN and other international organizations, welcomed the delegates.
  • Following this, the members discussed in detail the activities of the Employment Task Force under the Indian leadership. India hopes to build a consensus at this meeting ahead of the final Employment Working Group meeting in Indore, India, next month.
  • The Indian delegation to the G-20 Employment Working Group meeting is headed by the Secretary, Ministry of Labor and Employment of the Union Government and consists of Joint Secretary Rupesh Kumar Thakur and Director Mr. Mahendra Kumar. 20 business people and 20 labor representatives from India are participating in this meeting to lend their support to the Indian leadership.

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