Daily current affairs 16th June

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Sidimania

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June 16, 2022

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# Agniveers

  • Agniveers will constitute half of the 12 lakh strong army by 2030-32 to achieve an optimal balance of youth and experience to fight wars of the future.
  • The recruitment of agniveers will be scaled progressively on an annual basis.
  • Union home minister Amit shah announced that agniveers, after their stint, will be given priority for induction into central paramilitary forces and Assam rifles.
  • The chief ministers of Assam and Madhya pradesh also announced that agniveers will be given priority for recruitment in state Police forces.

# 5G spectrum

  • The country is set to witness the biggest ever auction of spectrum with the government putting up 72000MHz of mobile airwaves on sale – the largest such quantity being sold at one go.
  • The government hopes that the auctions, which will begin on July 26, have a value of around ₹4.3 lakh crore just at the reserve price.
  • Other than regular telecom companies, like jio and airtel, other big tech companies like google and TCS are allowed to take part in the auction.

# Trade deficit

  • India’s trade deficit is at a record $24.3 billion as merchandise export in may rose by 21% and imports grew by nearly 63%.
  • Imports during may 2022 grew by 62% to $63.2 billion.
  • Exports rose by 21% to $38.9 billion in May.

# Federal Reserve of USA

  • The federal Reserve raised its target interest rate by 75 basis points on Wednesday to stem a disruptive surge in inflation.
  • The rate hike was the biggest made by the US central bank since 1994.
  • The monetary policy committee in USA has said that they are committed to bring down inflation to 2%.

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