Current Affairs 1 July 2022

We are here for you to provide the important Recent and Latest Current Affairs 1 July 2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

NITI Aayog & TIFAC Launches Report on Future Penetration of e-2W in Indian Market

i.On June 28, 2022, a report titled ‘Forecasting Penetration of Electric Two-Wheelers (e-2W) in India- A Bottom-Up Analysis’ has been launched by National Institution for Transforming India (NITI) Aayog, and Technology Information Forecasting and Assessment Council (TIFAC).
ii.Using a tool namely ‘Agent-based model’ made by NITI Aayog and TIFAC, 8 scenarios have been developed for analyzing the future penetration of e-2W in India.
iii.In an optimistic scenario, the report forecasts 100% penetration of electric two-wheelers in the Indian market by FY 2026–27.
About Technology Information, Forecasting and Assessment Council (TIFAC):
It works under the aegis of Department of Science & Technology (DST), Ministry of Science and Technology.
Executive Director– Pradeep Srivastava
Headquarters– New Delhi, Delhi
About NITI Aayog (National Institution for Transforming India):
Establishment– 2015
CEO– Parameswaran Iyer (w.e.f. July 1, 2022)
Headquarters– New Delhi, Delhi
>> Read Full News

Govt approves 314 Investments Proposals of Rs 86,824cr for Electronics Manufacturingi.The Ministry of Electronics and Information Technology (MeitY) has approved a total of 314 applications with proposed investments of Rs 86,824 crore under a Modified Special Incentive Package Scheme (M-SIPS) till May 31, 2022.
ii.As on May 31, 2022, incentives of Rs 1,774.47 crore have been disbursed to 114 applicants.
iii.Introduced in 2012, M-SIPS envisages attracting investments in Electronics System Design and Manufacturing (ESDM) Industries.
About Ministry of Electronics and Information Technology (MeitY):
Union Minister – Ashwini Vaishnaw (Rajya Sabha – Odisha)
Minister of State (MoS) – Rajeev Chandrasekhar (Rajya Sabha – Karnataka)
>> Read Full News

MHI & MSDE signed MoU to Facilitate Training in Engineering Trades to boost Capital Goods Sector

On 29th June 2022, the Ministry of Heavy Industries (MHI) and Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of Understanding (MoU) to create a collaborative ecosystem to offer skill development training in the capital goods sector.What is in the MoU?
i.Under the agreement training will be provided in several engineering trades through Qualification Packs (QPs) developed by MHI-related Sector Skill Councils (like Automotive, Infrastructure, Instrumentation and Capital Goods) under the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector Phase II ( Phase I of the scheme was launched in 2014).

• Objective-To encourage technology development and infrastructure creation in India.

What’s new in the scheme?
A new component also introduced under the scheme to cater to futuristic industrial requirements for promotion of skilling in the capital goods sector through creation of QPs for Level 6 and above.
Contribution of MHI & MSDE:
i.The MHI will provide 100% funding support to MHI Sector Skill Councils (SSCs) for development of new Industry Led National Skills Qualifications Framework (NSQF) Level 6 and above QPs.

• MHI will provide linkage between Industry associations and SSCs for imparting skills to more than 70,000 individuals over a period of three years.
• This initiative will produce skilled manpower which will be able to cater for the industries in various sectors like defence, aerospace, power, automotive, capital goods and others.

ii.The  MHI & MSDE  will also provide linkages between SSCs and Common Engineering Facilities Centres (CEFCs) including four MHI Samarth Udyog Centres set up under MHI Capital Goods (CG) Scheme Phase I and CEFC for skilling at Welding Research Institute (WRI), at Bharat Heavy Electricals Limited ( BHEL), Trichy sanctioned under CG Scheme Phase II.
About Minister of Heavy Industries (MHI):
Union Minister- Dr Mahendra Nath Pandey (Constituency- Chandauli, Uttar Pradesh )
Minister of State – Krishan Pal Gurjar (Constituency- Faridabad, Haryana )

ASK Private Wealth Hurun India Future Unicorn Index 2022: India to Have 122 New Unicorns In 4 Years

According to the Hurun Research Institute’s ‘ASK Private Wealth Hurun India Future Unicorn Index 2022’, India will have 122 new unicorns in the next two to four years. Startups like Shiprocket, Zepto, and Turtlemint are at the top of the list of probable unicorns.

• The index provides a glimpse of the Indian start-up ecosystem and ranks Indian start-ups that were established in the 2000s, worth at least USD 200 million (Rs. 1,500 crore), are not yet listed on a public exchange, and are most likely to “go unicorn” within the next 2 -4 years. The deadline was May 31, 2022.
• India’s future unicorns are currently worth $ 49 billion, with an increase of 36 per cent as compared to 2021.

Objective: To highlight India’s fast-growing startup ecosystem among investors, governments, family offices, aspiring entrepreneurs, and the global community.
Background:
i. According to data provided by the Ministry of Commerce & Industry(MoCI), India’s start-up ecosystem is now home to more than 69,000 start-ups and is the 3rd largest in the world in terms of the number of unicorns (as of 2nd May 2022).The United States (US) and China have the top 2 largest start-up ecosystems.

ii.India gave birth to 20 unicorns worth a total USD 26 billion in the first half of 2022. In 2021, it witnessed a record 44 start-ups becoming unicorns.
ASK Private Wealth Hurun India Future Unicorn Index 2022
i. Hurun Research identified 122 Indian future Unicorns from 25 cities.

• They were established in 2015 on average, with the majority of them selling software and services and only 17% selling physical goods. While 63% are consumer-facing, 37% are selling to businesses.

ii.According to the index, Bengaluru remains top with existing 33 unicorns and it would increase to 46 probable unicorns.

• Following it are Maharashtra’s Mumbai (16) and Delhi (National Capital Region (NCR)) (25).

iii. E-commerce, financial technology (FinTech), and Software-as-a-Service (SaaS) comprise 43 % of the Future Unicorn Index 2022.
iv.India has 84 unicorns, 51 Gazelles, and 71 Cheetahs, as against 51 unicorns, 32 Gazelles, and 54 Cheetahs in the 2021 index.
Classification Of Startups by The Report
i. Unicorns– Startups valued at USD 1 billion that were created after the year 2000.
ii.Gazelles– Startups most likely to become unicorns in the next two years. These are estimated to be worth between USD 500 million and USD 1 billion.

• It is topped by the LogisticsTech startup Shiprocket, followed by Zepto, Turtlemint, Ather Energy, and Vivriti Capital.
• Ninjacart, Dunzo, Rapido, Clear (previously ClearTax), and Twin Health are the other five startups on the list.

iii. Cheetahs – Startups that could go Unicorn in the next four years.

• It is topped by Pepperfry, followed by Bengaluru-based Juspay and FinTech firm Mswipe Technologies.
• Pixis, SUGAR cosmetics, WayCool, ZestMoney, Bluestone, Cuemath, Winzo are the other startups on the list.

Sequoia Capital has emerged as the most active investor in India’s start-up ecosystem, having invested in 39 probable unicorns, followed by Tiger Global, which has invested in 27 probable unicorns.

INTERNATIONAL AFFAIRS

RIMPAC 2022 Commences in Hawaii with 21 Partner Nation Ships

On 29th June 2022 Rim of the Pacific 2022 (RIMPAC 2022) has commenced at Joint Base Pearl Harbor-Hickam(JBPHH),a United States military base on the island of Oahu, Hawaii.The exercise was started with 21 United States (US) partner nation ships, including one submarine, from 14 countries.It is a biennial event and 2022 marks the 28th edition of RIMPAC.

• In RIMPAC 2022, 26 nations are participating and it is hosted by the US Navy.
• RIMPAC 2022’s theme is “ Capable Adaptive Partners”.
• It will be conducted in and around the Hawaiian Islands and Southern California.
• 38 surface ships, 4 submarines, 9 national land forces along with over 170 aircraft and around 25,000 personnel will take part in the drills at RIMPAC 2022.

Note –Joint Base Pearl Harbor–Hickam (JBPHH) is an amalgamation of the United States Air Force’s Hickam Air Force Base and the United States Navy’s Naval Station Pearl Harbor, which were merged in 2010.

Key Points:
i.The largest contingent is from the Republic of Korea (ROK), with 3 ships and 1 submarine and next would be the Royal Australian Navy, with 3 ships.
ii.Canada, Japan and Mexico sent 2 ships each and Chile, France, India, Indonesia, Malaysia, New Zealand, Peru, the Philippines and Singapore each 1 ship each.
India’s Participation – INS Satpura & P8I maritime patrol aircraft:
i.INS Satpura and one P8I maritime patrol aircraft from the Indian Navy were participated in RIMPAC 2022.
ii.INS Satpura is 6000-tonne guided missile stealth frigate that is designed and built indigenously is equipped to seek and destroy adversary in air, surface and underwater.

• It is currently on an extended operational deployment in the 75th year of India’s Independence.

iii.P-8I is a long-range, multi-mission maritime patrol aircraft, manufactured by Boeing,an American multinational corporation for the Indian Navy and it replaced Indian Navy’s Tupolev Tu-142 aircraft.
About Hawaii:
Capital – Honolulu
Currency – USD (US Dollar)

Asia Pacific Sustainability Index 2021: Bengaluru Tops in India, Ranks 14th In the APAC Region

According to the ‘Asia Pacific Sustainability Index 2021’ released by Knight Frank, an international property consultant based in London, United Kingdom (UK), four Indian cities made it to the top 20 of the Asia Pacific (APAC) Sustainably Led Cities Index Ranking.

• Bengaluru (Karnataka) was ranked 14th in the APAC region in the Gold standard category.It is the only city from India to receive the Gold standard and topped among the Indian cities.
• The other 3 Indian cities, Delhi (New Delhi), Hyderabad (Telangana), and Mumbai (Maharashtra), came in 17th, 18th, and 20th, respectively, attaining the Silverstandard category.

i.The APAC Sustainably-led Cities Index includes 36 cities ranked according to urbanisation pressure, climate risk, carbon emissions, and government initiatives.
ii.The index standard refers to the willingness of the cities in accepting and adapting to Environmental, Social and Governance (ESG) metrics.
About Knight Frank:
MD (Asia Pacific)– Kevin Coppel
Founded – 1896
Headquarters – London, United Kingdom (UK)
>> Read Full News

Global Startup Ecosystem Index 2022: Bengaluru Boasts Strongest Startup Ecosystem in India & 8th Globally

According to the Israel-based Startup Blink’s ‘Global Startup Ecosystem Index (GSEI) 2022’, Bengaluru, the capital city of Karnataka, has the “strongest startup ecosystem in India” and ranks 8th among the world’s top 10 cities.

• Bengaluru was ranked first among Indian cities in the 2022 rankings. Furthermore, it is ranked first in South Asia.

i. India is among the top-20 startup ecosystems globally and has been ranked 19th in the country-wise rankings for 2022.
ii.In the Asia-Pacific (APAC) region, India is ranked 4th after Singapore, Australia, and China.
iii. With rankings of 10 in 2021 and 14 in 2020, Bengaluru’s position in the global startup ecosystem has improved since 2020.
About Karnataka:
Chief Minister – Basavaraj Bommai
Festivals – Ugadi (New Year for Kannadigas); Sankranti (Pongal of Kannadigas)
>> Read Full News

UN Habitat’s World Cities Report 2022: India’s Urban Population to Stand at 675 Million in 2035

According to the United Nations Human Settlements Programme (UN-Habitat)’s “World Cities Report 2022: Envisaging the Future of Cities seeks”, India’s urban population is estimated to rise to around 675 million in 2035 and become the 2nd highest country following China’s 1 billion.

• The report stated that the rapid urbanisation was delayed temporarily due to the COVID-19 pandemic.
• The report highlighted that the growth of the global urban population is back on track by another 2.2 billion people by 2050.

i.The report has estimated that India’s urban population will reach 675,456,000 in 2035 increasing from 483,099,000 in 2020 to 542,743,000 in 2025 and 607,342,000 in 2030.
ii.By 2035, the percentage of population in India at mid-year residing in urban area will be 43.2%.
iii.According to the report, China’s urban population is expected to be around 1.05 billion by 2035 while the urban population of Asia is projected to be around 2.99 billion in 2035.
About United Nations Human Settlements Programme (UN-Habitat):
Executive Director– Maimunah Mohd Sharif
Headquarters– Nairobi, Kenya
>> Read Full News

BANKING & FINANCE

Airtel Payments Bank & Axis Bank Collaborates to Digitise the Cash Collection

On 29th June 2022 Airtel Payments Bank partnered with Axis Bank to digitise the cash collection system in Tier III cities and semi-urban regions.
Key Points:
i.Under this partnership, Airtel Payments Bank will support Axis Bank in digitisation of last-mile cash collections through its digital-led neighbourhood banking model.
ii.Axis Bank’s agents can now deposit the amount at any Airtel Payments Bank outlet for transferring to the Axis Bank accounts instead of reaching out to the branch for depositing the collected Equated Monthly Income (EMI) amount.

• This reduces time and speeds up the payment cycle of the customers across India.

About Airtel Payments Bank:
Managing Director (MD) & CEO – Anubrata Biswas
Establishment – 2017
Headquarters – New Delhi,Delhi

Max Life Launches Insta-COI+ to Deliver Superior Customer Experience

Max Life Insurance Company Limited has launched ‘Insta confirmation of insurance (Insta-COI)’, for the customers who buys the ‘Max Life Smart Fixed-return Digital Plan’ (UIN: 104N123V01), a non-linked, non-participating, individual life insurance savings plan on Max Life website or Policybazaar platform.
Key Highlights
i.The Insta-COI enables intimation to the customer regarding the commencement of the risk cover pending release of the policy contract with a hassle-free onboarding.
ii.This initiative is strengthened by AI-enabled smart underwriting which is applicable for certain low-risk prospects for a sum assured of up to Rs. 25 Lakh.
Note – Recently, Max Life has also introduced innovative digital experiences like chatbot and WhatsApp servicing.
About Max Life Insurance Company Limited:
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited that offers long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners.
Managing Director (MD) & CEO – Prashant Tripathy
Headquarters – New Delhi, Delhi

World Bank Approves USD 1 Billion Loans to Support India’s Health Sector

The World Bank (WB) Board of Executive Directors has approved 2 complementary loans of USD 500 million each to support India’s health sector.The two complementary combined loans of USD 1 billion will be offered to support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) which was launched in October 2021, to improve the public healthcare infrastructure across India.

• This loan will be prioritized for seven states including Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh to improve the health sector.

India’s Health Sector:
i.According to WB estimates, India’s life expectancy has improved to 69.8 in 2020  from 58 in 1990 which is higher than India’s average income level.
ii.The other indicators have also shown improvement such as under-five mortality rate (36 per 1,000 live births), infant mortality rate (30 per 1,000 live births), and maternal mortality ratio (103 per 100,000 live births).
Other Highlights:
i.The two loans from International Bank for Reconstruction and Development (IBRD) supports Public Health Systems for Pandemic Preparedness Program (PHSPP) and Enhanced Health Service Delivery Program (EHSDP) with a final maturity of 18.5 years including a grace period of 5 years.
ii.The PHSPP helps India to prepare to detect and report epidemics of potential international concern,enhances India’s capacity to detect pathogens, including zoonotic diseases,and strengthen coordination and build institutional capacity

iii.The EHSDP will strengthen service delivery through primary health care model, supports the National Quality Assurance Standards certification across Health and Wellness Centres (HWCs) to improve the quality of healthcare, and transform health sector governance and accountability.

Recent WB approved loans for India :-

• In June 2022, WB has approved the financing of $250 million to support the Government of India’s Program for Strengthening Road Safety.
• World Bank has approved three loans totalling USD 562 million (about Rs 4,393.70 crore) to fund an education project in Gujarat, a social protection programme in Tamil Nadu and a project to help recovery in the fisheries sector post the pandemic.

About World Bank (WB):
President – David Robert Malpass
Establishment -1944
Headquarters – Washington D.C, United States (US)

ICICIdirect Launches Learning App to Help Customers in InvestmentOn 29th June 2022 ICICI Securities (I-Sec) launched ICICIdirect iLearn, a learning app for investors (beginners or expertise) to easily learn about several financial products and market topics.

• Aim –To provide investors with well-researched and simplified content by expertise for taking better investment decisions.

Highlights:
i.The ICICIdirect iLearn app currently hosts more than 550 content pieces across various sections that will be updated on regular intervals on different topics including current market developments.
ii.As per the data from BSE, the total number of investors as on June, 2022 stands around 109 million, with 51% increase year-on-year (Y-o-Y).

• I-Sec, millennials and Gen Z formed more than 80% of its active customer base out of overall customer base in the past 3 years.

Note – A platform ‘iCommunity’ will soon be launched to enable an opportunity of learning through fellow investors.
About ICICI Securities (I-Sec):
ICICI Securities (I-Sec) is a subsidiary of ICICI Bank Limited
Chairman – Vinod Kumar Dhall
Establishment – 1995
Headquarters – Mumbai, Maharashtra  

APPOINTMENTS & RESIGNATIONS    

K K Venugopal re-appointed as Attorney General (AG) of India for 3 months
President of India Ram Nath Kovind has re-appointed Senior Advocate Kottayan Katankot (K.K) Venugopal as the Attorney General (AG) of India for a period of three months(July- September) or until further orders with effect from 1 July 2022.

Key points:
i.In 2017, K.K Venugopal was appointed as the 15th AG of India. He succeeded Mukul Rohatgi who was AG from 2014-2017. His first term as AG ended in June 2020 and he was reappointed for a term of one year. In June 2021, his term was again extended by one year until June 30, 2022.
About Attorney General of India:
i.Article 76 of the constitution deals with the post of Attorney General of India. He/She is the highest law officer of India.
ii.He/She works as a chief legal advisor to the government of India and advises the union government on all legal matters.
iii.The President of India appoints a person who is qualified for the post of Supreme Court Judge.

• Term of office-The Constitution mentions no specified tenure of Attorney General.
• 1st Attorney General- M.C. Setalvad

About Kottayan Katankot Venugopal:
i.K.K Venugopal was born in 1931, is an Indian constitutional lawyer and a senior advocate in the Supreme Court of India. He also served as the Additional Solicitor General of India between 1979 and 1980.
ii.He is Patron of SAARCLAW (A regional apex body of South Asian Association for Regional Cooperation (SAARC)) and also its former President.
Awards- He received Padma Bhushan (2002) and Padma Vibhushan (2015) for his excellent services in the legal field.  

SCIENCE & TECHNOLOGY

ABHYAS: High speed Expendable Aerial Target successfully Flight-Tested off Odisha Coast

On June 29, 2022, ABHYAS, High speed Expendable Aerial Target (HEAT) was successfully flight-tested from the Integrated Test Range (ITR), Chandipur off the coast of Odisha by Defence Research and Development Organisation (DRDO).

• The test demonstrated its performance at low altitude including sustained level and high manoeuvrability.
• Abhyas – A word derived from Sanskrit. The meaning of Abhyas is “for practice or preparatory exercise”.

Key Feature of ABHYAS:
It is programmed for a fully autonomous flight i.e. it flies under the control of automatic systems (autopilot) and needs no intervention from a human pilot.

About ABHYAS:
i.It is designed & developed by Bengaluru based Aeronautical Development Establishment (ADE) of Defence Research and Development Organisation (DRDO).
ii.It has Radar Cross-Section (RCS), visual and IR (Infra-Red) augmentation systems  required  for weapon practice, and testing of surface-to-air missile (SAM) systems.
iii.It can also function as a jammer platform and decoy.
iv.The HEAT system is utilized to do away with the post-launch recovery mode for the Indian Navy, which is time-consuming and difficult in a sea scenario.
About Flight-Test:
The target aircraft was monitored by various tracking sensors deployed by ITR, including Radar and Electro-Optical Targeting System (EOTS). It was launched using twin under-slung boosters which provide the initial acceleration to the vehicle.

• It was equipped with Micro-Electromechanical Systems (MEMS)-based Inertial Navigation System (INS) for navigation along with the Flight Control Computer for guidance and control along with Indigenous Radio Altimeter.

Note – In June 2022, India also test-fired the Vertical Launch Short Range Surface to Air Missile (VL-SRSAM) in Chandipur. The VL-SRSAM is a ship-borne weapon system meant for neutralising various aerial threats at close ranges including sea-skimming targets.

SPORTS

England Skipper Eoin Morgan Announces Retirement From International Cricket

England Men’s white-ball captain Eoin Morgan announced his retirement from international cricket with immediate effect on 29 June 2022.  He was the key architect of the International Cricket Council (ICC) Men’s Cricket World Cup victory in 2019 in London, the first time England Men had won the world crown.
About Eoin Morgan:
i.Eoin Joseph Gerard Morgan was born on 10 September 1986 in Dublin, Republic of Ireland, is a cricketer who captained the England cricket team in limited overs cricket from 2015 until his international retirement.

• He is a left-handed batter and played county cricket for Middlesex, England’s Test, One Day International (ODI), and Twenty20 International (T20I) teams.
• Most ODI runs for England (6,957), Most T20I runs for England (2,458) and Most sixes for England in both formats.
• In the 2021 Indian Premier League(IPL), Kolkata Knight Riders(KKR) finished as runner-up under the captainship of Eoin Morgan.

Cricket Career:
i.He played 16 Tests, 248 ODIs, and 115 T20Is since making his international debut in 2006.
ii.He played for Ireland for three years until 2009 before joining England, with whom he won the 2019 ICC Cricket World Cup.

• He was also a part of the England team that won the 2010 ICC Men’s T20 Cricket World Cup in the Caribbean.

iii.He captained the Men’s T20I side on 72 occasions, equal to India’s MS Dhoni as the most in T20 international cricket.
Awards- CBE (Excellent Order of the British Empire) in 2020 for services to cricket

IMPORTANT DAYS

International Asteroid Day 2022 – June 30 

The United Nations(UN)’s International Asteroid Day is annually observed across the globe on 30th June to create awareness about the hazards of an asteroid impact. The day also aims to educate the public about the crisis communication actions to be taken at the global level in case of a credible Near-Earth Object(NEO) threat.
Background:
i.The United Nations General Assembly (UNGA) adopted the resolution A/RES/71/90 on 6th December 2016 and proclaimed the 30th June of every year as the International Asteroid Day.
ii.The observance of the day was proposed by the Association of Space Explorers, which was endorsed by the Committee on the Peaceful Uses of Outer Space (COPUOS).
iii.The first ever International Asteroid Day was observed on 30th June 2017.
Why June 30?
30th June marks the anniversary of Earth’s largest asteroid impact, the Siberia Tunguska event,Russia which occurred on 30th June 1908.
About United Nations Office for Outer Space Affairs (UNOOSA):
UNOOSA Acting Director– Niklas Hedman
Headquarters– Vienna, Austria
>> Read Full News

International Day of Parliamentarism 2022 – 30 JuneThe United Nations (UN)’s International Day of Parliamentarism is celebrated on 30 June every year by the Inter-Parliamentary Union (IPU) to recognise the importance of the parliaments in national plans and strategies.

• For the year 2022 the theme was public engagement following the launch of the Global Parliamentary Report  2022.
• The IPU Executive Committee will also meet for a special meeting in Montevideo, Uruguay to celebrate the 133rd anniversary of the IPU.

About Inter-Parliamentary Union (IPU):
Headquarters-Geneva, Switzerland
President-Saber Hossain Chowdhury
>> Read Full News

STATE NEWS

Maharashtra Renames Aurangabad City as Sambhajinagar & Osmanabad City as Dharashiv

On 29 June 2022,  the Maharashtra cabinet under the chairmanship of the Chief Minister (CM) Uddhav Thackeray approved the renaming of Aurangabad city as Sambhajinagar, and that of Osmanabad city as Dharashiv.
Highlights:
i.The cabinet meeting also approved that the upcoming Navi Mumbai international airport will be named after farmer leader  late ‘Dinkar Balu Patil’.
ii.The airport is currently being constructed by the Adani Group in adjoining Raigad to decongest Chhatrapati Shivaji Maharaj International Airport in Mumbai.
Maharashtra govt signed MoU with AGEL to Generate Green Energy
The Maharashtra government’s Energy department signed a Memorandum of Understanding (MoU) with Adani Green Energy Group Ltd (AGEL) to generate 11000 MegaWatt(MW) green power in the next five years.
Highlights:
i.The agreement would entail an investment of Rs.60,000 crore and provide employment to 30,000 persons.
ii.Under the partnership, AGEL will set up Pumped Storage Projects (PSP) in the next four to five years, through which about 11,000 MW greenpower will be generated.
Signatories:
The MoU was signed by Narayan Karad, Deputy Secretary, Department of Energy, Maharashtra and Ajit Barodia, Senior Vice President, Adani Industries Group.
About Maharashtra:
Chief Minister- Uddhav Thackeray
UNESCO Heritage Sites – Ellora Caves , Chhatrapati Shivaji Terminus ( formerly Victoria Terminus )
Sanctuary – Karnala Bird Sanctuary , Great Indian Bustard Sanctuary

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