Inflation may stay below 6% even if oil averages $100: Crisil
India’s retail inflation may average below 6% even if crude oil prices average $100 a barrel in 2022-23, but rising prices remain an elevated risk to growth especially as private consumption remains subdued, rating firm Crisil said on Thursday.
Assuming a full pass-through of global crude prices to retail fuel prices in India, Crisil expects average consumer inflation to be 5.4% if oil prices average $85-90 a barrel, and rise to 5.8% if the mean crude price is at $100 a barrel through the next fiscal year.
Headline inflation, however, is expected to be lower than the last time oil prices shot past $100 a barrel during 2012-14, a period when food and core inflation were also high, Crisil observed, adding that such a scenario was unlikely to repeat in 2022-23.
Iran successfully test fire second military satellite Noor-2
The mission, which was only announced after spacecraft deployment, is the first Iranian launch to reach orbit in almost two years.
Iran’s Islamic Revolutionary Guard Corps (IRGC) successfully launched a military satellite, Noor-2, into orbit at an altitude of 500 kilometres (311 miles) from the earth. This is the second military satellite launched by the Islamic Republic. The first military satellite, Noor, was launched in April 2020 at an orbit of 425km (265 miles) above the earth’s surface. Noor means light in the Persian language.
India’s Largest Reclining Statue of Lord Buddha
The largest reclining statue of Lord Buddha in India is being built in Bodh Gaya, Bihar. India’s Buddhist pilgrimage circuit is being proactively revived and Bodh Gaya is an integral part of it. Hence, the site of Gautam Buddha’s enlightenment will soon be home to his largest reclining statue.
Lord Buddha’s idol is in the Mahaparinirvana Mudra is very important in Buddhism as he preached to his followers in this pose before attaining Mahaparinirvana. Kushinagar in Uttar Pradesh also has an idol of Lord Buddha in this posture as this where he attained Mahaparinirvana.
This statue is being made with fiberglass and is being built by sculptors who are from Kolkata.
From February 2023, the giant statue of Lord Buddha will be opened for the devotees.
First refineries to produce ethanol from bamboo to come up in Maharashtra
India’s first refineries for ethanol production from bamboo, with daily capacity of 30,000 litre, will be built in Gadchiroli and Nandurbar districts.
An agreement of the project was signed on Friday in Hyderabad between Nagarjuna Group and Lodga Bamboo Industries of Latur district.
Those privy to the development said that the Union government has committed to blend 20% ethanol with petrol by 2025, eventually creating a huge opportunity for using bamboo-based ethanol. India imports about Rs 8.5 lakh crore worth of diesel and petrol.
As many as 60,000 tonne bamboo grown over 1,500 acres would be needed annually to meet the raw material requirements of the ethanol plant.
Ministry of Tourism invites final comments on draft report for setting up National Digital Tourism Mission
Ministry of Tourism had constituted an inter-ministerial task force for National Digital Tourism Mission on 23rd July, 2021 to undertake consultations with the tourism industry and domain experts, define the context, mission, vision, objectives, and overall scope of the National Digital Tourism Mission.
The Task Force has prepared a draft report on proposed National Digital Tourism Mission, which inter-alia lays down domain and technology principles, standards, digital stack, governance structure and plan for implementation of the envisaged National Digital Tourism Mission.
The Ministry of Tourism has invited final comments from the stakeholders on draft report for setting up of National Digital Tourism Mission. The draft report has also been published on website for suggestions and feedback from public.
The draft report takes note of the fact that tourism sector is highly fragmented. Subsectors of tourism such as transport, accommodation, restaurants and catering, and personal services are all subject to very different challenges and opportunities.
The vision of National Digital Tourism Mission is to bridge the existing information gap amongst different stakeholders of tourism ecosystem through a digital highway.UKPCS Notes brings Prelims and Mains programs for UKPCS Prelims and UKPCS Mains Exam preparation. Various Programs initiated by UKPCS Notes are as follows:-
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