Moody’s downgrades India’s sovereign rating to ‘Baa3’, maintains negative outlook, revises GDP for FY21 to -4%
* Moody’s Investors Service has downgraded India’s sovereign rating one notch to the lowest investment grade (Baa3) from ”Baa2”, with negative outlook.
* ”Baa3” is the lowest investment grade, just a notch above junk status.
Moody’s has also revised its FY21 GDP estimate for India to 4% contraction against 0% growth projected earlier.
* However, the economic growth is projected to pick up at 8.7% in FY22 and 6% in FY23.
PM Modi launches CHAMPIONS: Technology Platform to empower MSMEs
* Prime Minister Narendra Modi has launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of recent Processes for Increasing the Output and National Strength. The portal is essential for creating the smaller units big by solving their grievances, encouraging, supporting, helping and handholding. It is a real one-stop-shop solution of MSME Ministry.
Virat Kohli only cricketer in Forbes’ 2020 list of world’s highest paid athletes
* India skipper Virat Kohli is the only cricketer to feature in Forbes’ list of the top 100 highest-paid athletes in the world for the year 2020. Kohli is ranked at number 66 with estimated earnings of $26 million. Swiss tennis great, Roger Federer has topped the list of world’s highest-paid athlete for 2020 with an estimated $106.3 million.
* Soccer stars Cristiano Ronaldo ($105 million), Lionel Messi ($104 million ) and Neymar ($95.5 million) and NBA’s LeBron James complete the top 5 positions in the list. The factors used by Forbes’ for calculation were athletes’ revenue, including prize money, salaries, contract bonuses, endorsements, royalties, and appearance fees from June 1, 2019, until June 1, 2020.
Pradip Kumar becomes new Secretary in Ministry of Steel
* J&K cadre IAS, Pradip Kumar Tripathi, has taken over as Secretary, Ministry of Steel, Govt. of India. Prior to this, Shri Tripathi has been posted as Special Secretary and Establishment Officer in Department of Personnel and Training (DoPT).