1.The government revised its forecast for GDP growth for 2017-18 to 7.2% from the earlier estimate of 6.7%. CSO also revised the nation’s actual growth rate in 2016-17 to 8.2% from 7.1% while nominal GDP has been revised upwards to 11.5% from 10.8%.India is the 6th largest economy in the world.
2.Defence Acquisitions Council chaired by Defence Minister N Sitharaman approved indigenous construction of 6 submarines worth Rs 40000 Crore aimed at providing a major boost to submarine design and manufacturing ecosystem in India.Hand-in-Hand is the military exercise between India & China.
3.The new regulation by Telecom Regulatory Authority of India makes it mandatory for the DTH service provider to offer every channel on a self-selection basis. It makes consumers pay a network capacity fee of ₹130 for 100 channels.Chairman of TRAI - Ram Sewak Sharma.
4.The Navy finalized a ₹700 crore contract with Bharat Electronics Limited for establishing an upgraded Naval Airfield Integrated Security System. It will strengthen the perimeter security of its air stations. Its implementation would be completed in 2020.Bharat Electronics Limited Headquarters: Bengaluru.
5.According to the NSSO, the unemployment rate surged to over 6% in 2017-18. The unemployment rate stood at 7.8% in urban areas as compared with 5.3% in rural areas while the proportion of the population working or seeking jobs, declined to 36.9% in 2017-18.NSSO is under Ministry of Statistics & Programme Implementation.
6.Yes Bank named Ajai Kumar as interim chief executive until Ravneet Gill takes charge. Rana Kapoor stepped down as CEO on Jan 31. The RBI had denied Rana Kapoor an extension to his term twice last year without giving a reason.Ravneet Gill is the head of Deutsche Bank India.
7.Scientists at IIT Bombay has come up with the solutions to the issues of crop planning involving a reservoir system and waste management in the city. Crop planning can be done based on the supply capacity and pattern of a reservoir system.Yedgaon Dam in Maharashtra is built on Kukadi river.
8.The 13th edition of Petrotech will be held in Greater Noida. The main theme is shaping the new energy world via innovation & collaboration. It will be a chance for India to showcase the policy reforms & investment opportunity in the Indian oil & gas sector.Union Minister of Petroleum & Natural Gas - Dharmendra Pradhan.
9.BSE will launch a mobile app to help retail investors in the auction of govt securities & T- bills conducted by RBI. The app would enable investors to directly participate in the auction without the involvement of a registered trading member of the BSE.An online platform, BSE-Direct launched for retail investors.
10.Ujjivan SFB announced the launch of Kisan Suvidha loan to offer collateral-free loans for both agriculture &allied activities to small & marginal farmers. The product provides hassle-free loans to individuals with an amount ranging from ₹ 60000 – ₹ 2 L.It is unveiled across Tamil Nadu, West Bengal, Karnataka, Odisha
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