24th May Current Affairs 2019
Daily GK Updates & Current Affairs for Government Exams
UN celebrated May 23 as an International Day to End Obstetric Fistula
United Nations celebrated May 23 as an International Day to End Obstetric Fistula (IDEOF). In 2003, the United Nations Population Fund (UNPF), formerly known as the United Nations Fund for Population Activities (UNFPA) and its partners had launched a global campaign to End Obstetric Fistula. The theme for 2019 is “Fistula is a human rights violation, end it now”. In 2012, United Nations announced to celebrate May 23 as International Day to End Obstetric Fistula every year starting from 2013.
BJP won with an absolute majority for its second term in the 2019 LS election
24 May 2019 Current Affairs: BJP won with an absolute majority: “If the 16th general election in 2014 catapulted the BJP as the primary pole of Indian politics, relegating the Congress to a distant second, 2019 establishes it as the overarching hegemon”.
The BJP is the second political party in Indian history to come back to power, even stronger this time.
The BJP got an absolute majority bagging 297 of the 458 seats (as per Election Commission’s counting till 9.25 am on 24th May) and was on course to touch the 303-seat mark in the 543-member Lok Sabha. The BJP has already surpassed its 2014 performance when it won 282 seats.
The Congress in all likelihood will fall short of the 54-mark needed for the leader of the opposition status in the Lok Sabha, winning in 45 seats and leading in 7.
Prime Minister Narendra Modi, who sought reelection from Varanasi struck gold, garnering over 63% of total votes polled. His rival Ajay Rai, of Congress, had polled 53,385 votes, about two lakh votes lesser than Mr. Modi. Congress president Rahul Gandhi, who lost in his sitting constituency of Amethi in UP, made a record victory in his second seat of Wayanad in Kerala.
All the newly-elected BJP MPs may meet 25th May to elect PM Narendra Modi as their leader, following which he will meet the president to stake claim to form the new government. The oath-taking of the new government is likely to be held on May 29.
ADB granted $750 mn loan to India for Railway Track Electrification Project
24 May 2019 Current Affairs: Asian Development Bank (ADB) signed an agreement with Indian Railway Finance Corporation (IRFC), an entity owned by Government of India (GOI) to provide USD 750 million long-term financing for the Railways Track Electrification Project as part of a broad modernization program to reduce the dependence India’s railway sector on fossil fuels.
It is the largest single non-sovereign loan ever. IRFC will use the proceeds from the loan to install electric traction equipment along about 3,378 kilometres of existing railway lines.
RBI to create specialized supervisory and regulatory cadre within RBI
The central board of Reserve Bank of India (RBI) approved creating a specialized supervisory and regulatory structure for commercial banks, urban cooperative banks and non-banking financial companies (NBFCs). The decision was taken at the RBI board meeting, which is chaired by Governor Shaktikanta Das along with deputy governors and other members of the board, held in Chennai, Tamil Nadu.
Jagan Mohan Reddy To Be Sworn In As CM of Andhra Pradesh
YSR Congress Chief Jagan Mohan Reddy sworn in as chief minister of Andhra Pradesh on 30th of May at Vijayawada. Mr Jagan Mohan Reddy announced this following his party achieving inching towards a landslide victory in the legislative elections for Andhra Pradesh Legislative assembly. He will replace N Chandrababu Naidu who resides as Andhra Pradesh
UN downgraded the global economy growth forecast to 2.7% in 2019
24 May 2019 Current Affairs: United Nations (UN) in its mid-year report on economic prospects named “World Economic Situation and Prospects (WESP) 2019 Mid-year Update” diminished the global economic growth forecasts for 2019 to 2.7% and for 2020 to 2.9%.
In the January predictions, the economic growth was projected at 3% for both years.
The reason behind the lowering of the forecast is high trade tensions, uncertainty over political policies and a complicated confluence of internal and external factors affecting most of the developed and developi ng economies. Among developed economies, United States’ will grow at 2.3%, while the European Union’s overall economy will expand at 1.5%, Japan at 0.8% and Russia at 1.4%.
For India, LIN has cut the grow.’th rate by 0.6% to be at 7% for 2019 from the earlier prediction of 7.6% in the January edition. But despite of downward revision, India remains the fastest growing major economy in the world, ahead of China’s growth rate of 6.3%.
US, Japan, South Korea, Australia Hold 1st Naval Drills In Western Pacific
US State Department approved to sell air-defense missiles for worth of more than USD 600 million to Japan and South Korea. This approval was result of rising tension with North Korea when a pair of missile was tested by North Korea last week. The US government has approved sale of 94 SM-2 missiles used by ships against air threats along with 12 guidance systems for a total cost of USD 313.9 million.
Telangana records 15% GSDP growth in FY19 with Rs. 8,66,875 crore
24 May 2019 Current Affairs: Telangana recorded 15% Gross State Domestic Product (GSDP) growth for the Financial year ended March 31 , 2019 with Rs.8,66,875 crore.
For the year 2018, it stood at Rs. 7,53,804 crore. The capital expenditure for the year was Rs. 47,038 crore and this was the main reason for recording the highest growth rate. The total capital expenditure from 2014-15 to 2018-19 was Rs. 1,64,51 9 crore.
Primary sector grew by 10.9%, secondary sector by 14.9% and tertiary sector registered a grovvth of 15.5%.
ICICI Bank to buy 9.9 percent stake in BSE subsidiary INX for Rs.31 crore
24 May 2019 Current Affairs: ICICI Bank said it has entered into an agreement with the BSE to buy a stake in its subsidiary INX, located at GIFT City Gujarat. It will buy a 9.9% stake in India International Exchange (INX), a wholly-owned subsidiary of Bombay Stock Exchange (BSE) for nearly Rs.31 crore. The exchange posted a loss of Rs.31 crore in 2018-19 while its total revenue stood at RS.2.25 crore. INX is located at GIFT City in Gujarat.
The investment is subject to regulatory approvals and comes at a cash consideration of up to Rs.305 million in tranches to acquire up to 9.9% shareholding in INX. INX was incorporated in September 2016 and has posted a loss of Rs.31 crore in 2018-19. The total revenue was Rs.2.25 crore.
During 2017-18, INX had earned revenues of Rs.1.14 crore, while in 2016-17 the exchange earned Rs.3,225. The stock of ICICI Bank closed 4.48% higher at Rs.407.80 on the BSE
WHO has declared Algeria and Argentina as malaria-free countries
World Health Organization officially declared Algeria and Argentina as malaria-free countries after recording no new cases for more than three years. Now, the numbers of malaria free countries increased to 38 from 36. Argentina reported the last indigenous case in 2010 while in Algeria it was reported in 2013. Algeria is the second African nation to have eliminated the disease after Mauritius which achieved the goal in 1973.
Volodymyr Zelensky sworn in as the 6th President of Ukraine
24 May 2019 Current Affairs: Ukrainian TV star Volodymyr Zelensky won the presidential election in April 2019 and sworn in as 6th President of Ukraine recently. He succeeded Petro Poroshenko.
According to the Central Election Commission, Zelensky won the second round with 73.22% of the votes. He became Ukraine’s youngest post-Soviet President.
In his speech, he announced the dissolution of the parliament. It is a strategic move to bring the October 27 parliamentary elections forward to boost his party’s chances of securing a majority at the height of his popularity.