Daily GK Update - 18th May 2023 Current Affairs

                                                          Current Affairs

                                                          National Affairs

India climbs to 60th rank in providing high-speed mobile internet speed.

• According to a report released by Okla, Mobile Internet Speed in India is the 64th highest in the world with 36.35 Mbps average speed.
• In broadband, India’s rank is 83rd with an average broadband speed of 51.12 Mbps.

The Government has launched the second edition of the PLI Scheme for IT Hardware.

• Ministry of Electronics has launched and 2nd edition of the Production Linked Incentive Scheme with an outlay of 17,000 crore rupees.
• This scheme is expected to create employment for 7,000 people.

17th Vande Bharat Train launched by Indian Railway.

• 17th Vande Bharat Train which is a semi-highspeed train will connect Howrah to Puri.

The online education program ‘Pahal’ for rural children was inaugurated.

• The online rural education initiative 'Pahal' was officially launched by Chief Secretary Durga Shankar Mishra at Government UP Sainik Inter College in Sarojini Nagar.

Bhopal became the first city to track the progress of sustainable development goals.

• Chief Minister of Madhya Pradesh Shivraj Singh Chauhan has launched Agenda for Action: Sustainable Urban Transformation.
• Under this programme, Bhopal will record the progress of Sustainable Development Goals.

                                                        International Affairs

Quad Leaders’ Summit is going to take place in Sydney, Australia.

• Quad Countries include India, Australia, the USA and Japan.
• Leaders from the above countries except from the USA are going to meet in Sydney, Australia.

G-7 Summit is going to take place in Hiroshima, Japan.

• The 49th Summit of G-7 Countries is going to take place in Hiroshima, Japan.
• G-7 Countries is a grouping of the top seven economies of the world, which includes Canada France Germany Italy Japan the United Kingdom the United States.

Libyan Parliament has removed PM Fathi Bashagha.

• Libyan parliament voted to remove Prime Minister Fathi Bashagha, referring him for investigation.

India and Bangladesh launch ’50 Startup Exchange Programme’.

• India and Bangladesh have signed an agreement to launch the ’50 Startup Exchange Programme’ for allowing visits by startups from each other’s countries for business purposes.

                                                                Economy

Now 20% tax will have to be paid on credit card spending in foreign countries.

• According to RBI Notification, Any spending through credit card will attract a 20% tax.
• RBI brought this rule under Liberalised Remittance Scheme.

                                                              Appointment

Paytm appoints Bhavesh Gupta as president and COO.

One 97 Communications Ltd, the parent company of Paytm, announced the appointment of Bhavesh Gupta as the President and Chief Operating Officer (COO) of Paytm.

                                                                 Economy

According to United Nations, India’s GDP Growth Rate is going to be 6.7%.

• India’s economy is expected to maintain its robust growth trajectory, with a projected growth rate of 6.7% in 2024, according to the United Nations report.

India is to contribute 16% to global GDP growth over 2023-24 according to Morgan Stanley.

• India's economic recovery has gained significant momentum, positioning the country as a key contributor to global GDP growth, according to a recent report by Morgan Stanley.

                                                                   Sports

A former Australian Doubles Tennis Player has passed away.

• Former Doubles Tennis Champion of Australia, Owen Davidson has passed away.