According to the IMF report, the growth of the Asia-Pacific region is expected to increase to _____

Daily Current Affairs

According to the IMF report, the growth of the Asia-Pacific region is expected to increase to ______ in 2023 from 3.8% in 2022.

4.6%

4.9%

5.2%

5.5%

Correct Answer : 4.6%

Growth in the dynamic Asia-Pacific region is projected to increase to 4.6% in 2023 from that of 3.8% recorded in 2022, according to the International Monetary Fund (IMF) which stated that the growth will be largely led by India and China.

In its Regional Economic Outlook - Asia and Pacific report released on Tuesday (2nd May 2023), the Washington-based fund said the region would contribute around 70% of global growth.

"Asia and Pacific will be the most dynamic of the world's major regions in 2023, predominantly driven by the buoyant outlook for China and India," the IMF report said, adding that the two largest emerging market economies of the region are expected to contribute around half of global growth this year, with the rest of Asia and Pacific contributing an additional fifth.

Meanwhile, IMF said 2023 looks to be a challenging year for the global economy, with global growth decelerating as the effects of monetary policy tightening (through consistent interest rate hikes) and Russia's war in Ukraine continue to weigh on economic activity..

Source : Times of India

Published On : May 3, 2023

World Telecommunication Day 2024 and Information Society Day 2024 – Date :

Every year, World Telecommunication and Information Society Day is marked on May 17. In 2024, this significant observance falls on a Friday, providing an opportunity for individuals, organizations, and governments worldwide to recognize the pivotal role of telecommunication and information technology in shaping our interconnected world.

Theme for World Telecommunication and Information Society Day 2024 :

The theme for World Telecommunication and Information Society Day 2024 is “Digital Innovation for Sustainable Development.” This theme underscores the crucial role that innovative technologies play in addressing global challenges such as climate change, poverty, and hunger. Digital innovation has the potential to advance progress towards the United Nations Sustainable Development Goals (SDGs) by 2030, with estimates suggesting that digital technologies could contribute to achieving 70% of these targets. However, despite the promise of digital innovation, significant disparities in access, investment, and digital skills persist, hindering progress in many parts of the world.

Published On : May 17, 2024

Q .

Which Company has unveiled an ambitious plan to invest Rs 26,000 crore in its automotive business over the next 3 years?

Tata Motors

Ashok Leyland

Maruti Suzuki

Mahindra & Mahindra Ltd

Correct Answer : Option (D) - Mahindra & Mahindra Ltd

In anticipation of increased demand in the automotive sector, Mahindra & Mahindra Ltd has unveiled an ambitious plan to invest ?26,000 crore in its automotive business over the next three years. This significant investment will span from FY25 to FY27 and is aimed at developing new vehicles and enhancing production capacity.

Major Investments in Electric Vehicles :

A substantial portion of the investment, ?12,000 crore, is allocated to Mahindra Electric Automobile Limited (MEAL), the company’s electric vehicle unit. The funds will be used to create and market a world-class electric SUV portfolio equipped with advanced technologies. Anish Shah, Managing Director of Mahindra & Mahindra Ltd, emphasized the importance of both ICE and electric vehicles for the company’s growth strategy.

Distribution of Investment Across Business Segments

The remaining investment will be distributed as follows:

* SUV Business : ?8,500 crore will be invested to bolster the company’s SUV lineup.

* Commercial Vehicles : ?4,000 crore is allocated to enhance the commercial vehicle segment.

* Farm Equipment : ?5,000 crore will be directed towards the farm equipment business.

Capacity Expansion Plans :

Mahindra & Mahindra plans to ramp up its production capacities significantly. By FY25, the company aims to increase its SUV capacity by 5,000 units and its electric vehicle capacity by 10,000 units. By the end of FY26, an additional 8,000 units of electric vehicle capacity are expected, bringing the overall SUV capacity to 72,000 units.

Published On : May 17, 2024

Q .

Who Elected as the President of Supreme Court Bar Association held on 16th May 2024 in New Delhi?

Ram Jethmalani

Kanwal Sibal

Mukul Rohatgi

Kapil Sibal

Correct Answer : Option (D) - Kapil Sibal

Senior advocate Kapil Sibal has been elected as the president of the Supreme Court Bar Association (SCBA) in a recent election held on Thursday (16th May 2024) in New Delhi. This marks his fourth term serving as the president of the prestigious lawyers’ body, succeeding senior advocate Adish C. Aggarwala.

Kapil Sharma’s Previous Tenure :

Kapil Sibal previously held the position of SCBA president in 2001 and served two separate stints in the mid and late 1990s. With a wealth of experience and legal expertise, Sibal’s re-election signifies the confidence and trust placed in his leadership by the legal fraternity.

Succession from Adish C. Aggarwala :

Sibal will take over the reins from incumbent president Adish C. Aggarwala, continuing the legacy of leadership within the SCBA. The transition of power reflects the democratic process within the legal community and ensures continuity in the association’s functioning.

Published On : May 17, 2024