BFSI & Economy

  • India has been ranked 6th in the list of wealthiest countries with total wealth of $8,230 billion. The United States topped the list with the total wealth of $64,584 billion.
  • According to recent report published by World Steel Association (WSA), India has overtaken US to become the world’s third largest steel producer in 2017. India’s crude steel production has grown by 6.2% to 101.4 million tonnes (MT) in 2017 compared to 95.5 MT in the previous year.
  • Chief Economic Adviser Arvind Subramanian has drafted the Economic Survey for the year 2017-18 in Parliament.This survey predicted India’s GDP growth at 7-7.5% in the next fiscal. The survey claimed that collection of direct taxes by Indian states and local governments is significantly lower compared to other countries.It also highlighted that Indian society shows a strong desire for a male child.
  • The Central government announced recently that the Payments banks such as Airtel payments bank and small finance banks such as Utkarsh and ESAF will also offer social security scheme, Atal Pension Yojana (APY), to their subscribers.
  • Japan has committed JICA Official Development Assistance loan for an amount of 45 billion yen (about Rs 2,587 crore) for Bengaluru Water Supply and Sewerage Project (Phase 3).
  • According to latest survey released by the international rights group Oxfam, richest 1% in India cornered 73% of the wealth generated in country in 2017. The survey shows worrying picture of rising income inequality.
  • India was ranked 81st among 118 countries in 2017 Global index of talent competitiveness (GTI) list.  India has improved its position from 92nd last year. The index measures ability of countries to compete for talent i.e. how countries grow, attract and retain talent.
  • India was ranked at 62nd place among emerging economies on Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF).
  • According to Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17 released by Reserve Bank of India (RBI), Mauritius was largest source of foreign investment (FDI) in India.

International

  • The 48th annual meeting of World Economic Forum (WEF) was recently held at Davos (Switzerland). The theme was  Creating a Shared Future in a Fractured World. India was represented by the Prime Minister Narendra Modi along with several other union ministers. Modi became First Indian PM to Visit Davos WEF Meet in past 20 years, after H D Deve Gowda’s Visit in 1997.

Sports

  • England all-rounder Ben Stokes became Most expensive buy of IPL 2018 auction after being bought by Rajasthan Royals for ₹12.5 crore. Jaydev Unadkat became the most expensive Indian player at the auction (also bought by Rajasthan Royals for ₹11.5 crore).
  • Swiss professional tennis player Roger Federer became the first male tennis player to win 20 Grand Slam titles, after winning a joint-record sixth Australian Open title today.

Science and Technology

  • To solve the various complications faced by the power distribution sector, the India-Japan Smart Grid Pilot Project was inaugurated Panipat, Haryan. It was inaugurated by State Chief Minister Manohar Lal Khattar in the presence of Japanese Minister Keniko Sen.
  • Indigenously developed surveillance aircraft ‘Netra’, also known as ‘eye in the sky’, flew over Rajpath for the first time as part of the Republic Day parade. Netra is an Airborne Early Warning and Control (AEW&C) aircraft with a 200-km range, and was inducted by the IAF last year.

National & Business

  • 30th January) is National Martyrs’ Day.This day is also known as Sarvodaya day / Shaheed Diwas.
  • Kiran Mazumdar-Shaw (Chairman and managing director of Biocon Ltd), Rajiv Lall (IDFC Bank founder), Abbott Laboratories (Chairman and CEO Miles White) and William Thomas (KPMG International global Chairman) are among those who have been appointed to the Board of US India Business Council for 2018.
  • (28th January) is Data Privacy Day/ Data Protection Day.The purpose of this day is to raise awareness and promote privacy and data protection best practices.Theme of Data Privacy Day 2018 : “Respecting Privacy, Safeguarding Data and Enabling Trust”
  • India and the Association of Southeast Asian Nations (ASEAN) have agreed to set up a mechanism aimed at enhancing maritime cooperation
  • On the occasion of the 69th Republic Day, the Indian Railways renamed Fairy Queen, the world’s oldest working steam engine, as ’69 Ganrajya Express’. The engine, constructed in the UK and inducted to the then East Indian Railway in 1855, was christened as ‘Fairy Queen’ in 1895
  • Prime Minister Narendra Modi will embark on 4-day official state visit to Palestine, Oman and UAE in February 2018.This will be the first ever visit by Indian Prime Minister to Palestine.During the visit, PM will hold talks with the leadership in the countries on matters of mutual interest with their leaders, apart from participating in other events.