Current Affairs India - 27 June 2013

1. Three Indian projects received U.N. Public Service Awards this year which is the most prestigious international recognition of excellence in public service. It rewards the creative achievements and contributions of public service institutions that lead to a more effective and responsive public administration in countries worldwide.

Indian initiatives which won this award this year are Mass Contact Programme of Kerala, Swavalamban of District Administration of Dhanbad in Jharkhand and and Graamin Haat programme of Department of Cottage and Rural Industries in Madhya Pradesh.

2. United Nations Conference on Trade and Development (UNCTAD) has released the World Investment Report 2013 yesterday in which India has retained its position as the world's third most attractive destination for investment by transnational corporations (TNCs) during 2013-15. India was ranked after China and United States. It said that the road to foreign direct investment (FDI) recovery is bumpy and the recovery will take longer than expected, mostly because of global economic fragility and policy uncertainty. Global FDI fell by 18% to $1.35 trillion in 2012. Developing economies also generated almost one third of global FDI outflows, continuing a steady upward trend. FDI outflows from developed countries dropped to a level close to the trough of 2009.

3. India-s current account deficit (CAD) moderated sharply to 3.6% of GDP in Q4 of 2012-13, as per the data released by the Reserve Bank of India (RBI) today. CAD had touched a historically high level of 6.7% of GDP in Q3 of 2012-13 and for entire financial year 2012-13, CAD stood at $87.8 billion (4.8% of GDP) compared to $78.2 billion (4.2% of GDP) during 2011-12. Indian Rupee had touched a record low of 60.76 to a dollar on Wednesday. After the CAD data, the domestic currency recovered to 60.23 to the dollar.