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Expansion
Cheap fare AirAsia will start service for Lucknow from 5 cities. On Thursday, it said that service between Bangalore, Delhi, Goa, Kolkata and Mumbai to Lucknow will start from August 5. There will be daily flights between these cities.
5G service will be available from March 2023
5G service in India will start from March 2023. Union Minister Ashwini Vaishnav said at an event in France that the auction of 5G spectrum will be completed in July. After that we will discuss it with the telecom companies. It can be started next year.
First phase of Sovereign Gold Bond from June 20
The first phase of the 2022-23 Sovereign Gold Bond will open for 5 days from 20 June. RBI said that its second phase will open between August 22 and 26. The maturity period of this bond is 8 years. However, there is an option to exit after 5 years. Minimum one gram and maximum 4 kg gold can be invested in a financial year. The trust can invest up to 20 kg of gold. It was launched 10 times in 2021-22 for Rs 12,991 crore (27 tonnes of gold). A discount of Rs 50 per gram will be available on online investment.
India ahead in tackling high inflation with low growth rate
India is in a better position than other countries in dealing with high inflation with low economic growth amidst adverse conditions at the global level. RBI said in an article, the global economic situation is deteriorating continuously. High commodity prices and volatility in financial markets have added to the uncertainty.
RBI Deputy Governor Michael Debvrat Patra said, “Domestic economic activity is strengthening with the factors included in GDP crossing the pre-corona level.” The inflation data for May has given some relief.
Most indebted states reduce non-essential spending
The article said that the five most indebted states Punjab, Bihar, Rajasthan, Kerala and West Bengal need to take corrective measures along with reducing unnecessary expenditure. The financial position of the states is giving a warning signal about increasing pressure.
