Current Affairs 19 May 2022 – Get All The Updated News Here!

Current Affairs 19 May 2022: Current affairs are essential in any competitive examination. On the examination, there are various questions about current affairs and static awareness. As a result, candidates must keep relevant with all current news and updates. It will assist candidates in answering questions from the section on recent events and performing well on examinations. This post will supply you with all of the Current Affairs for May 19th, 2022 to help you prepare for competitive examinations. Read this page completely to stay up with the latest news and events on May 19, 2022.

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Current Affairs – 19 May 2022 – All The Latest News!

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Adani Group is set to buy Ambuja Cement for $10.5 billion

• Gautam Adani’s Adani Group is scheduled to buy Swiss multinational business Holcim’s shareholding in Indian companies Ambuja Cements and its subsidiary ACC for $10.5 billion (about Rs 81,361 crore) including open proposals.
• Holcim owns 63.19 per cent of Ambuja Cements and 54.53 per cent of ACC through its companies (of which 50.05 per cent is held through Ambuja Cements).
• Adani Group’s financial counsel was Deutsche Bank.
• This is Adani’s largest-ever acquisition and India’s largest-ever Mergers & Acquisitions (M&A) deal in the construction and materials industry, attributable to the value of the Holcim holding an open offer consideration.

The Prime Minister’s Office team suggests an urban job guarantee plan

• The government should develop a guaranteed job programme for the unemployed in cities, as well as a universal basic income (UBI) scheme to close economic inequality, according to the Economic Advisory Council to the Prime Minister (EAC-PM).
• According to the EAC-PM, the most important element of defining poverty in a multi-dimensional setting is monitoring migration to and from poverty.
• The report also recommended raising the minimum income and expanding government investment in the social sector to make disadvantaged communities more resilient to crises and prevent them from descending into poverty, citing the country’s unequal income distribution.

WCR is developing the Navdoot, a battery-powered double locomotive

• Navdoot is a battery-operated dual-mode locomotive built by West Central Railway. This engine works in both battery and electric mode.
• The Railway Board also awarded this Dual Mode Locomotive the Best Innovation Award.
• With this new locomotive, railways will save 1000 litres of fuel every day. It will be utilised more widely once all of the trials have been completed.
• It is now being utilised on an experimental basis during train shunting at Jabalpur, Mudwara, and other stations.

India has surpassed Germany to become the world’s fourth-largest automobile market

• India has replaced Germany to become the world’s fourth-biggest car market, according to a study issued by the Organisation Internationale des Constructeurs d’Automobiles (OICA).
• China took the first, followed by the United States and Japan. India sold 3,759,398 vehicles in 2021, compared to 2,973,319 in Germany, despite the Covid-19 pandemic.
• India is predicted to overtake Japan, which sold 4,448,340 vehicles in 2021, to become the third-largest vehicle market by 2025.
• In comparison to the developed market, the personal mobility area has roughly 33 automobiles per 1,000, which is one of the lowest.

India is presently the biggest recipient of contributions from abroad

• According to the World Bank, India surpassed Mexico as the leading recipient of remittances in 2021, moving China to third position.
• India received more than $89 billion in contributions in 2021, an increase of 8% above the $82.73 billion received in 2020.
• Some of the rises are due to the rupee’s falling value against the dollar. Inbound financial transactions to India are expected to rise this year, supported by one of the world’s lowest transaction costs.
• Despite the fact that Covid hit the globe hard in 2020, remittances were somewhat higher than the $82.69 billion recorded in the non-Covid year of 2019.

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