Current Affairs for Competitive Exam by Gkseries –26 & 27 June 2022

Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 26 & 27 June 2022, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.

Current Affairs for Competitive Exam – 26 & 27 June 2022

Piyush Goyal: Indian GDP might reach $30 trillion in coming 30 years

India is one of the fastest-growing economies in the world and it is expected to reach USD 30 trillion in the coming 30 years, Commerce and Industry Minister Piyush Goyal said here on Sunday. Goyal remarked that if India grows at a compound annual growth rate of 8% annually, the economy will double in nine years while speaking to exporters in Tiruppur, Tamil Nadu. According to the minister, the country’s economy is currently worth approximately $3.2 trillion and will be worth roughly $6.5 trillion in 9 years.

KEY POINTS:                                                                              

• Another nine years, that is 18 years from now, we will be about USD 13 trillion economy. And then another nine years after that, that is 27 years from now, we will be a USD 26 trillion economy… Then obviously, 30 years from today, confidently we can all expect that the Indian economy will be a USD 30 trillion economy,” the minister said.

• According to the Union Commerce and Industry Minister, despite the current difficult circumstances brought on by the ongoing conflict between Russia and Ukraine and the CoVD-19 pandemic, India’s economy is expanding at a healthy rate.
• The conflict has caused a shortage of some commodities on the global market, which has increased global inflation.
• India has been successful in keeping its inflation at a manageable level.
• Piyush Goyal also stated that the country’s textile industry is currently worth 10 lakh crore and has the potential to develop to 20 lakh crore in the following five years, with exports of 10 lakh crore.

US president, Joe Biden signs landmark gun safety bill

The US President, Joe Biden has signed the gun violence bill, and toughen background checks for the youngest (21 years) gun buyers.

Other reforms: $ 13 billion in federal funding for mental health programs and school security upgrades. The funding will encourage the states to implement “red flag” laws to remove firearms from people considered a threat.

Blocking sales of gun to those convicted of abusing unmarried intimate partners.

Disbursement of Loan to MSME sector grew by 182% after pandemic period

According to the study conducted by credit bureau CRIF High Mark, the loan disbursed to MSME sector grew by a massive 182% in FY22 to Rs 37 trillion.

In terms of value, the loan disbursal of private banks increased from 33.6% in FY20 to 69.8% in FY22. Share of private banks increased from 26.9% in FY20 to 33.5% in FY22 in volume terms.

Top 3 states (value): Maharashtra, Tamil Nadu, and Delhi

Top 3 states (volume): Maharashtra, Tamil Nadu, and Uttar Pradesh. 

Bharat Electronics signs MoU with Belarus firm for Airborne Defense Suite

Bharat Electronics Limited has signed an MoU with Defense Initiatives (DI), Belarus, and Defense Initiatives Aero Pvt Ltd, India (a subsidiary of DI Belarus).

Reason: To supply of Airborne Defense Suite (ADS) for helicopters of the Indian Air Force (IAF).

It would be supported by DI with transfer of technology (manufacturing and maintenance) for supply of advanced electronic warfare suite for helicopters under ‘Make in India’ category.

GST Council to talk about modifying law, online gambling and casinos

The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in law to facilitate provision for setting up GST Tribunals. The Council will also discuss the group of ministers’ (GoM) report on online gaming, casinos and race courses, sources told CNBC-TV18. The GoM met on June 17 and discussed issues like tax slabs and rates, among others. The GoM has proposed that rates and valuation standards for the 28 percent GST that will be imposed on casinos, racetracks, internet gambling, and lotteries be uniform. It said that no distinction should be made between games of skill and games of chance for the purposes of the levy.

It is advised that in the case of online gaming, the full value of consideration will take into account any contest entry fees, player participation fees, etc., whereas in the case of racetracks, the full value of bets placed with bookmakers and pooled in the totalizator should be taken into account. In the case of casinos, the entire face value of any chips or coins that customers purchase from a casino will be taken into account.

The value of bets put in each round of betting, including those played using winnings from earlier rounds, shall not be subject to additional tax after GST is charged on the purchase of chips or coins (on face value). Additionally, it is advised that the entry charge to casinos include the cost of one or more additional supplies, such as the cost of food and beverages. Any other extra services or optional purchases made without using an entry ticket will be subject to tax at the rate that applies to such purchases.

Ranji Trophy 2022: Madhya Pradesh beats Mumbai by six wickets

Redemption comes to those who wait, and for Madhya Pradesh, it was a long-drawn one that spanned 23 years. When they laid hands on their maiden Ranji Trophy, they did it in some style against an opposition that fought and threatened until the last session on the final day. Madhya Pradesh wrote history as they won their maiden Ranji Trophy title, beating tournament heavyweights Mumbai by 6 wickets in the final at the M.Chinnaswamy Stadium in Bengaluru. Under the leadership of Aditya Shrivastava, the team defeated 41-time champions Mumbai. The team was coached by former India wicketkeeper-batsman Chandrakant Pandit.

Mumbai batter Sarfaraz Khan was crowned as the ‘Man of the Tournament for his brilliant Ranji Trophy 2022 with the bat, which saw him score 982 runs at an average of 122.75, finishing at the top of the batting charts. Other top bowlers of The 2022 Ranji Trophy are spinner Shahbaz Nadeem of Jharkhand (25 wickets).

History of Ranji Trophy:

• The Ranji Trophy is a domestic first-class cricket championship played in India between multiple teams representing regional and state cricket associations. The competition currently consists of 38 teams, with all 28 states in India and four of the nine union territories having at least one representation.
• The competition is named after the first Indian cricketer who played international cricket, Ranjit Singh, who was also known as ‘Ranji’. The first match of the competition was held on 4 November 1934 between Madras and Mysore at the Chepauk ground in Madras in the final.
• Mumbai(Bombay) have won the tournament the most number of times with 41 wins including 15 back-to-back wins from 1958–59 to 1972–73.

International Day against Drug Abuse and Illicit Trafficking 2022

The International Day against Drug Abuse and Illicit Trafficking, or World Drug Day, is marked on 26 June every year to strengthen action and cooperation in achieving a world free of drug abuse.

And each year, individuals like yourself, entire communities, and various organizations all over the world join in to observe World Drug Day to help raise awareness of the major problem that illicit drugs pose to society.

International Day against Drug Abuse and Illicit Trafficking 2022: Theme

The United Nations Office on Drugs and Crime (UNODC) selects themes for the International Day and launches campaigns to raise awareness about the global drug problem. Health is the ongoing theme of the world drug campaign. “Addressing drug challenges in health and humanitarian crises” is the theme for 2022’s celebration of the International Day against Drug Abuse and Illicit Trafficking.

International Day against Drug Abuse and Illicit Trafficking: Significance

The United Nations Office on Drugs and Crimes (UNODC) has put forward a #CareInCrises campaign for this year’s celebration of World Drug Day. It highlights data from its annual World Drug Report and urges governments, world citizenry, international organisations and each stakeholder to prevent drug abuse, provide treatment, and restrict the illicit drug supply.

Garuda Aerospace to set up drone factory in Malaysia

The Garuda Aerospace company has entered into a partnership with HiiLSE Global SdnBhd (HiiLSE Drones), a Malaysian company, to set up the largest plant in the South Asia region.

The HiiLSE Garuda Aerospace Plant will be made across 2.42 hectares of land, with an investment of ₹115 crores.

Aim: To provide state-of-the-art technology to public and private sectors alike in the whole region.

Founder-CEO of Garuda Aerospace: Agnishwar Jayaprakash.

Government appoints Tapan Kumar Deka as Director of Intelligence Bureau

The Central government has appointed senior IPS officer, Tapan Kumar Deka as Director of Intelligence Bureau for a tenure of two years from the date of assumption of the charge.

He is a 1988 batch Himachal Pradesh cadre IPS officer. He will succeed incumbent Intelligence Bureau Director, Arvind Kumar.

He has handled crucial cases such as terrorism in Jammu & Kashmir, especially targeted killings in the Valley.

Complete State-wise List of Chief Minister and Governor 2022

The list of state-wise chief ministers and the governor is important for the students who are preparing for competitive exams like SBI PO, SSC, banking, etc. In The table below we have included all the states and their governor and chief ministers. We have also included the chief minister and governors of union territories. Further in the article, you can also check out the selection process and powers of the chief minister and governor of India.

The Chief Minister of a state has a wide variety of responsibilities with respect to their state. A CM is the leader of the state’s MLAs. Have a look at the complete state-wise list of chief ministers and governors of all Indian states as of 2022. Learning the complete list of State Chief Minister and Governor would be a bonus for the aspirants to boost up their preparation level.

Union Territory-wise Governor List

India successfully test-fired VL-SRSAM missile system

The Defence Research and Development Organisation (DRDO) has developed shipborne weapon system, Vertical Launch Short Range Surface to Air Missile (VL-SRSAM), was successfully test fired from Chandipur in Odisha. This missile system has been designed to strike at the high-speed airborne targets.

Range: 40km to 50km

This missile’s design is based on Astra missile.

Two key features: cruciform wings and thrust vectoring.

ICICI Bank launches ‘Campus Power’ platform for student ecosystem

ICICI Bank has launched a digital platform called ‘Campus Power.’

Aim: To help students aspiring to pursue higher education in India and outside the country.

This platform will cater the varied needs of the entire student ecosystem comprising students, parents, and institutes. This will assist users to explore financial products according to their needs ranging from bank accounts including overseas accounts, education loans and its tax benefit etc.

Parameswaran Iyer becomes new CEO of Niti Aayog

Former Secretary of the Ministry of Drinking Water and Sanitation, Parameswaran Iyer has been appointed as a new CEO of Niti Aayog for two years.

He will replace Amitabh Kant. He is a 1981-batch IAS officer of the Uttar Pradesh cadre.

In 2016, Iyer was appointed to implement government’s Swachh Bharat Mission. He resigned as Secretary of the Department of Drinking Water and Sanitation at the Jal Shakti Ministry in 2021.