Smriti Irani Inaugurates Home Expo India 2018

  • Union textiles minister, Smirti Irani, inaugurated the 7th edition of the expo at the India Expo Centre and Mart, Greater Noida. Minister of State for Textiles, Ajay Tamta, was the guest of honour.
  • Smriti Irani emphasised skill development in the craft sector, calling the expo a step in the right direction.

Modi, Swedish PM talk about strengthening defence cooperation

  • Indian PM Narendra Modi met Swedish PM Stefan Lofven in Sweden, making it the first bilateral visit by an Indian premier to the Nordic nation in 30 years.
  • Both PMs decided to strengthen both countries’ defence and security cooperation.
  • Other key areas of discussion included trade and investment, and renewable energy.
  • Modi asked Swedish companies such as Ikea and Volvo trucks to invest in India.

CII estimates India’s GDP growth for 2018-19 at 7.3-7.7%

  • The Confederation of Indian Industry (CII) says that it expects India’s gross domestic product (GDP) to grow at 7.3% to 7.7% during the 2018-19 financial year.
  • There are challenges (like rising oil prices) but it is expected that these challenges will be tackled by improving industrial performance, says new CII President, Rakesh Bharti Mittal.
  • The CII has projected a 2.5-3.5% growth for the agriculture sector, 7.2-7.5% for the industrial sector and 8.4-8.7% for the services sector.

Himachal Pradesh Celebrates 71st Foundation Day

  • Himachal Pradesh Chief Minister, Jai Ram Thakur, hoisted the Indian national at the Ridge Maidan to commemorate the state’s 71st Foundation Day.
  • The state police, home guards, Services Selection Board (SSB) and National Cadet Corps (NCC) cadets took part in a parade.
  • Himachal Pradesh was founded on April 15th, 1948.

Kotak Mahindra Bank edges SBI to number 2 spot

  • The private sector lender, Kotak Mahindra Bank, has moved ahead of SBI as the country’s second most valuable bank.
  • According to the BSE, Kotak Mahindra’s market value shot up to Rs. 2,22,970.40 crore on Monday, as opposed to SBI’s value at Rs. 2,22,043.74 crore.
  • Kotak Mahindra Bank shares climbed 2.22% to an all-time high of Rs. 1,174 each.

Pradhan Mantri Ujjwala Yojana launched in Telangana

  • Union Minister for Petroleum and Natural Gas, Dharmendra Pradhan, has launched a scheme called Pradhan Mantri Ujjwala Yojana (PMUY) to provide free cooking gas (LPG) connections to those living below the poverty line.
  • The Union Minister also said that the government would increase the number of LPG distribution points in the state to 1,000 (from the current 707). This is to ensure quicker and more efficient delivery of gas cylinders.

Communications Ministry launches DARPAN-PLI App

  • The DARPAN-PLI app was launched by Minister of Communications Manoj Sinha, to achieve total digitisation of postal operations in the country, under the IT Modernisation Plan.
  • DARPAN stands for Digital Advancement of Rural Post Office for a New India. The app aims to connect all 1.29 lakh Rural Branch Post Offices in the country.
  • The app will help with the collection of premiums for Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) policies at Branch Post Offices anywhere in India.
  • The DARPAN-PLI app will also help with online updation of the policies.

Commerce Ministry launches digital platform for MSME Exporters (called FIEO GlobalLinker)

  • Commerce and Industry Minister, Suresh Prabhu, launched a new digital platform which will allow MSME Exporters digitise their businesses and to join global community of growing businesses.
  • The FIEO GlobalLinker will make it easier for MSME Exporters to grow their businesses.
  • FIEO stands for Federation of India Export Organisations.
  • The network currently consists of 140,000 SME firms from around the globe, and it is a platform for new business collaborations.
  • The platform is free and Exporters will be able to find clients, suppliers and advisors on it.