12th NOVEMBER 2024 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
India's Retail Inflation Rises in October 2024
- October retail inflation rose to 6.21 percent for the first time this year, according to Reserve Bank data. October retail inflation is now higher than the government's estimate of 5.18 percent. The RBI plans to keep the country's inflation rate at 2-6 percent. It aims to keep it in the medium range at 4 percent.
- Last September inflation was 5.49 percent. This is more than the last 9 months. In India, Asia's third-largest economy, rising food prices have eroded the purchasing power of middle-class families.
- The Central Reserve Bank has projected the country's GDP growth at 7.2 percent in FY 2024-25. However, private forecasters are beginning to predict a sharp decline in urban consumption. Annual inflation on food items increased from 9.24 percent to 10.87 percent.
- Vegetable prices increased by 42.18% in October. This was up from 36% in September. Inflation rate on food grains increased to 6.94%. This was 6.84% in September. Similarly, the inflation rate for pulses increased from 7.43 percent to 9.89 percent.
- The Defense Research and Development Organization (DRDO) on November 12, 2024 successfully conducted the maiden test of the Long Range Land Attack Missile (LRLACM) with a mobile launcher from the Integrated Test Site at Chandipur, Odisha coast.
- During testing, all subsystems performed as expected and met primary mission objectives. The performance of the missile was monitored by several range sensors such as radar, electro-optical tracking system and telemetry installed at various locations by the ITR.
- The missile has been developed by the Aeronautical Development Institute in Bengaluru with the participation of other DRDO laboratories and Indian industry.
