ADB cuts India's GDP growth forecast to 7% for this year.

NATIONAL NEWS

BHEL, CONCOR tie up for rail-based logistics terminal at Haridwar

• State-owned BHEL has inked an agreement with Container Corporation of India (CONCOR) to set up a rail-based logistics terminal at Haridwar.
• Leveraging BHEL’s strategic location and CONCOR’s expertise in logistics, the two companies have signed an agreement to form a joint working group named BHELCON, for jointly setting up a rail-based logistics terminal at Haridwar.
• The terminal to be further developed into a multi-modal logistics facility.

STATE NEWS

Odisha to get first desalination plant

• Odisha will get its first desalination plant in Paradip with a capacity of 10 million litres per day, an official said.
• The proposed plant, to be built at a cost of around ₹116 crore, is expected to be commissioned by 2021, he said.
• A Memorandum of Understanding (MoU) to implement the project was signed between the Paradip Port Trust (PPT) and the National Institute of Ocean Technology (NIOT).

FACTS

Chief Minister-Naveen Patnaik

Governor-Ganeshi Lal

ECONOMIC AND FINANCE

ADB cuts India's GDP growth forecast to 7% for this year

• Asian Development Bank lowered India's GDP growth forecast to 7% for the current year on the back of fiscal shortfall concerns.
• India is expected to grow by 7% in 2019 (FY20) and 7.2% in 2020 (FY21), slightly slower than projected in April because the fiscal 2018 outturn fell short, ADB said in its supplement to the Asian Development Outlook 2019.
• For the south Asian region, ADB said the outlook remains robust, with growth projected at 6.6% in 2019 and 6.7% in 2020.
• Earlier in April this year too, the Manila-based multi-lateral funding agency had lowered India's growth forecast for FY20 to 7.2% from 7.6% estimated previously due to moderation in global demand and likely shortfall in revenue on the domestic front.

FACTS

ADB Head quarter-Manila, Philippines

 President of ADB -Takehiko Nakao

Haryana govt, NSE sign pact to list MSMEs on SME exchange platform

• The National Stock Exchange (NSE) has signed a pact with the Haryana government to help boost the growth of MSME sector in the state.
• As per the memorandum of understanding (MoU), NSE will support the Haryana government in enhancing the financing opportunities for MSMEs in the state through listing on NSE's SME exchange platform, ‘NSE Emerge’.
• On the other hand, the Haryana government would facilitate the listing of MSMEs on NSE Emerge through financial assistance.

FACTS

Haryana Chief Minister-Manohar Lal Khattu

Haryana Governor  - Satyadev Narayan Arya

Capital - Chandigarh

AWARD

Nabard award for Repco Micro Finance

• Repco Micro Finance Ltd, a non-banking finance company promoted by Repco Bank, received Nabard 2018 award for its service to self-help group (SHG) linkage in Tamil Nadu for the fiscal year 2017-18.
• Since its inception, the NBFC has disbursed loans amounting to ₹2,500 crore to over 10 lakh beneficiaries through 50,000 SHGs.

APPOINTMENT AND RESIGNS

Trevor Bayliss named Sunrisers Hyderabad Head Coach

• Bayliss will replace Australian Tom Moody as the Head Coach of Sunrisers Hyderabad.
• After very careful consideration, the Sunrisers franchise has decided to take a different direction with the Head Coaching role and will be parting ways with the services of Tom Moody. Trevor Bayliss, England’s 2019 World Cup winning coach, has been appointed Head Coach of Sunrisers Hyderabad.

RESIGNS

ICC suspends Zimbabwe Cricket with immediate effect

• The International Cricket Council (ICC) has suspended Zimbabwe for failing to ensure there is no government interference in its running of the sport.
• ICC funding has been withdrawn and the country will be barred from participating at ICC events.
• Zimbabwe are due to take part in a T20 World Cup qualifier in October.
• Because It has happened in Zimbabwe is a serious breach of the ICC constitution and it cannot allow it to continue unchecked.

SPORTS

Hima Das wins fourth gold at Tabor Athletics Meet

• Star Indian sprinter Hima Das clinched her fourth gold of the fortnight as she won the 200m race with a creditable time in the Tabor Athletics Meet in Czech Republic.
• Hima won in 23.25 seconds though the race had a mediocre field with most of the competitors representing clubs of Czech Republic. Nonetheless, she is inching closer to her personal best of 23.10.
• Hima's compatriot V K Vismaya was second with a season best 23.43.
• This was 19-year-old Hima's fourth gold since July 2 when she ran her first competitive race in Europe. She has been keeping on improving since her first race.

Former athlete PT Usha nominated for IAAF’s Veteran Pin

• India’s track and field legend PT Usha has been nominated for the International Association of Athletics Federation’s (IAAF)‘Veteran Pin’ for her outstanding service to the sport.

• Usha is often called the “queen of track and field”. She won five gold medals -- 100 metres(m), 200m, 400m, 400 m hurdles and the 4x400 m relay -- besides a bronze in the Asian Games which were held at Jakarta in 1985.

India’s Arjun Bhati wins Junior World Golf Championship

• India’s Arjun Bhati defeated Taiwan’s Jeremy Chen to win the FCG CallawayJunior world Golf Championship 2019 in Palm Desert, California.
• Out of 637 golfers from 40 counties that participated in the tournament, Arjun secured the first position with a total of 199 strokes in the three-day final.