ECONOMY UPDATES

CONTINUED.................51. Bank of India opened its 1st Branch in South Africa.52. LIC Housing Finance has launched a new home loan product called “Bhagyalakshmi” for women home seekers.53. The Delhi Metro Rail Corporation (DMRC) will implement the Rs.5,182-crore Kochi Metro Rail project with E.Sreedharan as its Principal Adviser.54. Govt. postponed the implementation of GAAR by two years to April 1, 2016.55. The Indian tea industry has finally breached the 1 billion kg-mark in production. 56. SBI opened its 2nd branch in China (Tianjin), While 1st in Shanghai.57. Gujarat has topped in terms of governance and inclusive growth in Economic Freedom of the States of India 2012' . 58. ICICI Partnered With Aircel to Launch Mobile Banking Service.59. Madhya Pradesh is the first State to fully utilize tourism plans funds. 60. SEBI allowed mutual funds to park 20% in gold deposit schemes. 61. Bharat Heavy Plate & Vessels Ltd. (BHPV) Merged With BHEL. 62. P Chidambaram has launched the Centralized Processing Cell for Tax Deducted at Source (CPC-TDS). 63. Union Govt. announced to spend Rs. 1000 crores in the current financial year to increase rice production in the eastern states. 64. ADB to provide $300 million loan to Chhattisgarh for overhauling roads 65. NSE ranked 12th in the world Stock Exchange List 66. World Bank will provide India $3-5 billion assistance annually over the next four years to help eradicate poverty and improve healthcare mainly in the low-income statesNEXT SECTION8. India ranking in different Indexes: 1. Global Hunger Index- 66 2. Global Peace Index – 141 3. Human Development Report – 136 4. Global Corruption Index – 94 5. Global Competitiveness Index-59th for 2012.9. World Bank Global Forecast:1. 2.3 % global GDP growth in 2012 2. 2.2 % global GDP growth in 2013 earlier projected 2.4% 3. 3.1 % global GDP growth in 2014 4. 3.3 % global GDP growth in 2015 World Bank Forecast GDP growth rate for India: 1. 5.7% in 2013-14 2. 6.5% in 2014-15 3. 6.7% in 2015-1610. IMF Forecast: 1. According to IMF the global economy will expand 3.3 percent this year, less than the 3.5 percent forecast in January 2013. 2. IMF slashed Economic Growth Rate of India to 5.7 percent from 5.9 percent for 2013 and forecast 6.2 percent for 2014 NOTE: Reserve Bank pegged GDP (Gross Domestic Product) growth rate for the current fiscal at 5.7 per cent, significantly lower than the Finance Ministry's forecast of 6.1 to 6.7 per cent for 2013-1411. COMMITTEE IN NEWS: 1. Committee Set Up On Uttarakhand Floods: The committee will be headed by AK Ganju (Chairman, Ganga Flood Control Commission, Patna)2. JS Mathur committee : to revise Newspaper Advertisement Rates. 3. K. Ratna Prabha : Committee on indecent depiction of women in media4. Mukul Mudgal Committee: looking into US giant Walmart's lobbying activities to enter India