1) Cabinet approves PLI scheme for telecom sector worth Rs 12,195 crore
•The Union Cabinet approved a Rs 12,195-crore Production Linked Incentive (PLI) scheme for domestic manufacturing of telecom and networking products such as switches, routers, radio access network, wireless equipment and other IoT access devices. Through this decision, the government aims to offset the imports of telecom equipment worth more than Rs 50,000 crore and reinforce it with “Made in India” products both for domestic markets and exports.
2) Prime Minister launches ‘Mahabahu-Brahmaputra’ initiative in Assam
•Prime Minister Narendra Modi has virtually launched ‘Mahabahu-Brahmaputra’ initiative in Assam. He laid the foundation stone for the Dhubri Phulbari bridge. PM also perform the bhumi puja for the construction of Majuli Bridge in Assam. PM has announced the details stated that the landmark day in the development journey for Assam as Mahabahu-Brahmaputra initiative is going to be launched.
3) Georgian Prime Minister Giorgi Gakharia resigns
•The Prime Minister of Georgia, Giorgi Gakharia has announced his resignation. The 45-year-old Gakharia served as the Prime Minister from 8 September 2019 to 18 February 2021. He was stepping down because of disagreements within his own team over the decision to arrest Nika Melia, chairman of the United National Movement opposition party.
4) Odisha Govt announced Development Package for Maa Samaleswari Shrine
•The state government of Odisha, under Chief Minister Naveen Patnaik, has launched the development work for the SAMALEI Project (Samaleswari Temple Area Management and Local Economy Initiatives), to offer the divine experience to tourists & devotees. The project involves the development of 108 acres of land in & around the 16th-century shrine of Maa Samaleswari, the presiding deity of western Odisha.
•Odisha Government has announced a package of Rs 200-crore for 2021-22 fiscal for the implementation of the project. The project will be implemented under MoSarkar5T and will focus on the beautification of the temple & economic development of local people. It will include the development of amenities for devotees inside the 12-acre temple premises and development of four tall heritage welcome gates.
5) Oxford Economics Revises India’s GDP to 10.2% for 2021
•The global forecasting firm Oxford Economics has revised India’s economic growth projection for the Calendar year 2021 to 10.2 per cent, compared to a previous estimate of 8.8 per cent. The reason for the upward revision is the receding COVID-19 risks and the shift in the monetary policy outlook.
•Oxford Economics is headquartered in Oxford, United Kingdom and has 6 office locations across 5 countries. It provides global forecasts and analysis to predict and manage economic risk.
6) RBI permits residents to make remittances to IFSCs under LRS
•The Reserve Bank of India has permitted resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) in the country. The decision of the RBI is aimed at deepening the financial markets in the IFSCs and providing an opportunity for resident individuals to diversify their portfolios. The RBI has reviewed the extant guidelines on LRS and decided to permit resident individuals to make remittances under LRS to IFSCs set up in India under the Special Economic Zone Act, 2005.
•The remittance shall be made only for making investments in IFSCs in securities, other than those issued by entities/companies resident (outside IFSC) in India. Any funds lying idle in the account for a period up to 15 days from the date of its receipt into the account shall be immediately repatriated to domestic INR account of the investor in India.
7) Ajai Malhotra becomes first Indian chairperson at UNHRC advisory
•Ajai Malhotra became the first Indian to be elected as the Chairperson of the United Nations Advisory Committee of the Human Rights Council. He has been on the Indian team negotiating issues such as biological diversity, climate change, desertification, education, energy, forestry, health, human rights, human settlements, intellectual property, international law, labour, ozone depletion, sustainable development and trade.
8) Hyundai Develops Ultimate Mobility Vehicle ‘TIGER X-1’
•Hyundai Motor Company has launched a Transformer-like robocar dubbed as TIGER X-1, that can travel over the most challenging terrains on the Earth as well as on other planets. TIGER stands for Transforming Intelligent Ground Excursion Robot, and the X-1 denotes its experimental status.
9) Chris Morris becomes IPL’s most expensive player
•Former Royal Challengers Bangalore (RCB) superstar and South African all-rounder Chris Morris shattered all records at the Indian Premier League (IPL) 2021 auction in Chennai. Rajasthan Royals went all-out for the South African all-rounder Morris, buying him for a whopping INR 16.25 crore.
•Morris, who was declared surplus to requirement by the Virat Kohli-led side after the conclusion of the IPL 2020 last year, turned out to be the most expensive player bought in the history of the cash-rich tournament.
