30th MAY 2024 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
7 percent GDP growth in current fiscal - RBI forecast
- The Reserve Bank has projected GDP growth of 7.0 per cent for 2024-25 with balanced risks. The RBI has said that the Indian economy is on a growth path and the economy is performing on the strength of microeconomic units, strong financial and corporate sectors.
- The RBI has indicated that the GDP growth in the financial year 2023-24 has increased to 7.6 percent from 7 percent in the previous year, which is the third consecutive year of growth of 7 percent.
- The RBI said the government's drive for capital expenditure and the positive trend in consumer and business firms are favorable for an increase in capital and consumption demand.
- Inflation is also expected to moderate to 1.3 percent in 2023-24 from the annual average.
- State Bank of India's Department of Economic Studies has forecast India's GDP growth at 7.4 per cent in the fourth quarter of fiscal 2023-24, while overall growth will touch 8 per cent.
- Highlighting the potential impact of global economic slowdown on India's growth trajectory. It shows a steady growth trend in both urban and rural sectors of the country.
- Urban economic momentum in the country is indicated by strong performance in passenger vehicle sales, airport passenger transport usage, GST collection, credit card transactions, petroleum consumption and toll collection.
- On the other hand, rural economic indicators are also showing a positive trend, with diesel consumption and two-wheeler sales increasing. India's growth will be more broad-based, the report said.
- The Army Medical Services Organization has signed an MoU with the Indian Institute of Technology, Hyderabad to collaborate in research and training. The MoU was signed by Director General Army Medical Services Lt. Gen. Taljit Singh and Director IIT Hyderabad Prof. PS Murthy.
- The objective of this MoU is to address the specific health problems of military personnel serving in various fields, encourage innovation and research in the development of innovative medical devices.
- IIT Hyderabad, with its departments of Biotechnology, Biomedical Engineering and Bioinformatics, will provide the necessary technical expertise to meet the various medical challenges faced by the Army.
- Drone patient transport, telemedicine innovations, use of artificial intelligence in the medical field, and nanotechnology advancements are key areas of collaboration. Additionally, the MoU will lead to student exchange programs, short-term courses for undergraduates and faculty exchange initiatives.
