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According to theWorld Bank,Indian economy is set to grow at6.9 per centin 2022-23, raising its forecast of6.5 per cent growth made in October.In October, it had cut Indias GDP growth forecast to 6.5 per cent from 7.5 per cent earlier. Now, it has upgraded the projection to 6.9 per cent for 2022-23 (April 2022 -March 2023).

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The institution said that the government is expected to meet the target of 6.4 per cent of the GDP in 2022-23.

The World Bank saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23. It expected Inflation to be 7.1 per cent in

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current fiscal year.

The country however remains affected by spillovers from the US, Euro area and China. The World Bank saw the government meeting the fiscal deficit target of 6.4 per cent of the GDP in 2022-23. It expected inflation to be 7.1 per cent in current fiscal year.

The UAE has launched the first Arab-built moon rover

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A SpaceX Falcon 9 rocket launched from the Cape Canaveral Space Force Station in Florida, carrying into space the first ever Arab-built lunar

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spacecraft.

The Rashid Rover was built by Dubais Mohammed bin Rashid Space Centre (MBRSC), in the United Arab Emirates (UAE), and is being delivered by the HAKUTO-R lander, engineered by Japanese lunar exploration company ispace. If the landing is successful, HAKUTO-R will also become the first commercial spacecraft ever to make a controlled landing on the moon.

The Rashid Rover, named after the late Sheikh Rashid Al Saeed, the former ruler of Dubai, will analyze the plasma on the lunar surface and conduct experiments to understand more about lunar dust. Razor-sharp lunar dust particles can stick to and erode spacesuits and equipment, causing operational problems for astronauts.

Ladakh gets its First FM Radio Station

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Ladakh received its first ever FM radio station in the capital city Leh.

The first-ever Top FM radio in Leh was launched by Advisor of Ladakh, Umang Narula.

The frequency for Leh

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& Kargil will be 91.1 FM.

It will cover 50 kilometres aerial distance in radius.

Cabinet approved 76,000 crore scheme to boost semiconductor manufacturing

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approved a Rs 76,000-crore scheme for boosting semiconductor and display manufacturing in India.

This scheme was approved in order to position

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India as a global hub for hi-tech production, as well as to attract large chip makers.

It would also strengthen Indias ambitions to be self-reliant in electronics manufacturing and bring huge investments.

This move will generate 35,000 specialised jobs and indirect EMPLOYMENT for one lakh people.

Under the scheme, government has lined up incentives for companies engaged in silicon semiconductor fabs, compound semiconductors, display fabs, sensors fabs, silicon photonics, semiconductor

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packaging and semiconductor design. With the launch of this scheme, government expects investments of about Rs 1.7 lakh crore and 1.35 lakh jobs in upcoming four years.

Accelerated Irrigation Benefit Programme (AIBP)

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AIBP is a flagship programme, launched by government of India with the aim of providing financial support to Irrigation projects.

With the continuation of scheme during 2021-26, total target of additional irrigation potential creation is 13.88 lakh hectare.

Beside the focused completion of 60 ongoing projects, additional projects can also be taken up.

Cabinet has relaxed the inclusion criteria for projects under tribal and drought prone areas.

This component of the scheme focuses on development of rainfed areas for

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& water conservation, arresting runoff, regeneration of ground water and promoting extension activities related to water harvesting & management.

The approved Watershed Development component will cover 49.5 lakh hectare rainfed or degraded lands for bringing additional 2.5 lakh hectare under protective irrigation during 2021-26.

Cabinet approves implementation of PMKSY for 2021-26

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Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26.

Scheme was implemented with an outlay of Rs.93,068 crore.

CCEA approved central support of

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Rs.37,454 crore to States.

20,434.56 crore of debt servicing has been approved for loan availed by Government of India to develop Irrigation during PMKSY 2016-21.

As a part of the scheme, Accelerated Irrigation Benefit Programme (AIBP), Watershed Development and Har Khet ko Paani (HKKP) components have been extended for 2021-26.

India-Poland treaty on assistance in criminal matters receives Cabinet approval

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chaired by Prime Minister Narendra Modi approved India andPolandtreaty on mutual legal assistance in criminal matters.

This treaty is aimed at enhancing capability and effectiveness of India as

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well as Poland in investigation and prosecution of crimes through mutual legal assistance. It will also include crimes related to terrorism.

It also seeks to enhance effectiveness in investigation and prosecution of crime, through mutual legal assistance.

With respect to transnational crime and its linkages to terrorism, the treaty will provide a legal framework for a bilateral cooperation withPolandin investigation and prosecution of crime.

UNESCO adds Durga Puja to its Intangible Heritage list

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Intergovernmental Committee for Safeguarding of the Intangible Cultural Heritage decided, in its 16thsession, to inscribed in Kolkata on the Representative List of Intangible Cultural Heritage of Humanity.

16thsession of UNESCO

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is being held, starting from December 13, 2021. It will conclude on December 18, 2021.

Till now, Durga Puja was celebrated in many parts worldwide. But an official global recognition was pending.

Durga Puja is a classic fusion of religion and culture. It is regarded with a lot of pride. This festival is performed and celebrated predominantly by the Bengali community.

As per UNESCO, cultural heritage does not end at collections of objects and monuments. It also includes traditions or living expressions which have been inherited from ancestors and passed on to descendants. It is

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a practice, expression, representation, knowledge, or skill considered by UNESCO.

Background

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The National Unity Government (NUG) comprises of pro-Democracy groups and some members from Myanmars civilian administration, which was overthrown in a military coup recently. The NUG has been working to raise funds for its revolution of toppling the

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ruling military government in Myanmar. In the other move, the Military government has outlawed and designated NUG as a terrorist.

Tether

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is a , which is hosted on the Ethereum blockchain. Its tokens are issued by Tether Limited. Tether limited is controlled by owners of Bitfinex. Tether is called a stablecoin, since it was originally designed to always be worth US$1 and maintain $1.00 in reserves.

Myanmar: NU Government officially accepts Tether cryptocurrency

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Myanmars shadow government has allowed the use of worlds largest called Tether.

Tether Cryptocurrency will be used as an official currency.

This move

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will make it easier to raise funds and make payments.