Moody’s drops India’s GDP growth to 5.3% in 2020
* Moody’s Investors Service, a global rating agency, lowered India ’s GDP growth forecast for calendar year 2020 to 5.3% on Tuesday due to the effects of the coronavirus, continued travel restrictions and enhanced containment measures. The agency expects gross domestic product (GDP) to grow by 5.8% in 2021.
* In February this year, Moody’s reduced the GDP growth rate of India from 6.6% to 5.4% by 2020, citing the impact of the coronavirus on the economy.
* India’s GDP growth rate was a six-year low of 4.5% in the July-September quarter, which improved slightly in the third quarter of 2019-20. The National Bureau of Statistics (NSO) has set India’s current fiscal year’s economic growth rate at 5%, which is the lowest level in 11 years, but it expects growth to resume in FY21 and the economy is expected to grow 6-6.5%.
Haryana’s Amin village renamed as Abhimanyupur
* The Central Government approved renaming the Amin village as Abhimanyupur in Kurukshetra district of Haryana as per the request of the State government.
* The decision has been taken by the Union Home Ministry after getting permission from a few central organisations.
* The Central Government has approved renaming at least 25 towns, villages or districts across the country in the last 3 years, including Uttar Pradesh’s (UP) Faizabad as Ayodhya and Allahabad as Prayagraj.
Ajay Kumar appointed India’s High Commissioner to Uganda
* Ajay Kumar has been appointed as India’s next High Commissioner to Uganda, the Ministry of Exte rnal Affairs (MEA) said, Kumar, 2001-batch Indian Foreign Service (IFS) officer, is currently serving as the Joint Secretary in the MEA.
* Shri A. Ajay Kumar (IFS:2001), presently Joint Secretary in the Ministry, has been appointed as the next High Commissioner of India to the Republic of Uganda. He is expected to take up the assignment shortly.
Former Air India CMD Ashwani Lohani appointed head of Andhra tourism body
* Ths Jagan Mohan Reddy government in Andhra Pradesh appointed Air India’s former Chairman and Managing Director Ashwani Lohani as Chairman of Andhra Pradesh Tourism Development Corporation (APTDC).
* The government has assigned the rank of a Cabinet minister to Lohani, who previously served as Chairman of the Railway Board and Chairman and Managing Director of India Tourism Development Corporation (ITDC).
Bajaj Auto Ltd re-appointed Rajiv Bajaj as MD & CEO
* Rajiv Bajaj has been reappointed as MD & CEO of Bajaj Auto. The announcement was made after the board meeting of the Bajaj Auto. The 5-years tenure of Rajiv Bajaj as the MD & CEO of Bajaj Auto was going to expire on March 31, 2020. During the board meeting, Rajiv Bajaj was re-appointed for a period of five years with effect from April 1, 2020.
* Re-appointment of Dr. Gita Piramal as an Independent Director Dr. Gita Piramal is an Independent Director of the Company, whose five-year term as Independent Director expires on 31 March 2020.