- The Indian government has launched an evacuation mission called Operation Ganga to evacuate Indian citizens from Ukraine due to Russia-Ukraine tensions. Due to the ongoing tension between Ukraine and Russia, Ukraine has been declared a no-fly zone by the authorities for the safety and security of the nations. This left many Indian nationals stranded in Ukraine. To help Indian citizens return to the country, the Indian government decided to conduct a special evacuation mission called Operation Ganga. The government is bringing back Indian citizens by flight from adjoining countries of Ukraine.
- The President of India Mr. Ram Nath Kovind inaugurated a newly developed ‘Arogya Vanam’ at the Rashtrapati Bhavan in New Delhi. The aim of this Arogya Vanam is to promote the importance of Ayurvedic plants and their effects on the human body. The concept of Arogya Vanam has been conceived with the aim of publicizing the importance of Ayurvedic plants and their effects on the human body. Spread over 6.6 acres, Arogya Vanam has been developed in the shape of a man sitting in yoga posture. It includes about 215 herbs and plants that are used for therapeutic purposes in Ayurveda. Some other features of this Vanam are water fountains, yoga platform, water channel, lotus pond and a view. This Vanam will now be open for public viewing.
- Former ICICI banker, Madhabi Puri Buch has been appointed as the new chairman of Securities and Exchange Board of India (SEBI), replacing Ajay Tyagi. She is the first woman to head SEBI and also the first non-IAS to head the regulatory body. She has over three decades of experience in the financial markets and was a Whole Time Member of SEBI between April 5, 2017 and October 4, 2021. During her tenure in SEBI, she handled portfolios like Monitoring, Collective Investment Schemes and Investment Management.
- The National Statistical Office (NSO) has released the Second Advance Estimates of National Accounts. The GDP growth rate estimates as per NSO for 2021-22 is 8.9 percent. Growth in the manufacturing sector held steady at around 0.2 per cent in the third quarter of 2021-22 as compared to 8.4 per cent growth a year ago, according to NSO data.
- The Navy conducted its biggest multilateral naval exercise ‘MILAN’ in late February. The sea phase of Exercise Milan-2022 ended on March 4. 26 ships, 21 aircraft and 1 submarine participated in the naval exercise conducted in the Bay of Bengal. India had invited 46 friendly countries to participate in the multinational naval exercise MILAN-2022 in Visakhapatnam from February 25. Countries that were invited for the exercise included Russia, USA, UK, Australia, Israel, Iran, France, Japan, South Korea, Vietnam, Bangladesh, Brazil, United Arab Emirates, among others.
- National Democratic Alliance (NDA) ruled Meghalaya has become the ninth state to withdraw its general consent to Central Bureau of Investigation. According to sources, top officials of the agency gave this information to a committee of Parliament on Thursday. Earlier, Mizoram and seven non-NDA-ruled states – Maharashtra, Punjab, Rajasthan, West Bengal, Jharkhand, Chhattisgarh and Kerala – withdrew their consent for a CBI probe. Mizoram was the first state to withdraw it in 2015.
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- India did not participate and abstained from voting on the United Nations General Assembly (UNGA) resolution condemning the Russian attack against Ukraine. India, maintaining neutrality, did not participate in the third resolution brought to the United Nations in less than a week in view of the escalating tension between Moscow and Kyiv. 141 votes were cast in favour of the motion while 35 members did not participate in the voting and five members voted against the motion. When the resolution was passed, there was applause in the General Assembly. A two-thirds majority is required for the resolution to be passed in the General Assembly.
- Amidst the Russia-Ukraine crisis the global stock markets, including India is falling. On the other hand, in this week there has been a good rise in gold and silver prices. According to the website of India Bullion and Jewelers Association (IBJA), gold has become costlier by Rs 894 to Rs 51,784 per 10 grams in the bullion market this week.
- The unemployment rate in India stood at 8.1% last month, according to data released by the Center for Monitoring Indian Economy (CMIE). India’s unemployment rate touched the six-month high of 8.1% in February, falling to a 10-month low of 6.57% in January. Last month, unemployment in villages was at a record 8-month high. According to CMIE data, joblessness in villages increased by 2.51% to 8.35% in February 2022. In contrast, however, the unemployment rate in cities stood at 7.55% last month, a four-month low.
Read more: Where does India stand on the Russia-Ukraine crisis?
- Crude oil prices has flared up due to the ongoing war between Russia and Ukraine. In the global market, the price of crude oil (Brent crude) has crossed the mark of $110/ barrel. Meanwhile, the International Energy Agency (IEA) has warned of an escalating energy crisis in the world. The supply of crude oil from Russia was affected due to the Russo-Ukraine war. Due to which the price of crude reached the highest since 2014. Due to this, the price of petrol and diesel can increase by up to Rs 25 per liter in the coming days. India imports more than 85 percent of its domestic need petroleum. This price hike will increase the Current Account Deficit of the government.