Samāchāra Sanchika - 31st May'24
AS
1. Indian Space Startup AgniKul Cosmos Achieves Milestone with Successful Flight Mission of Agnibaan SOrTeD from Sriharikota Private Launchpad
My Take: Slowly and then suddenly - Indian space startups are killing it! To see our own teams launching an actual 3D printed rocket and to have ISRO support these ventures whole-heartedly is truly remarkable. The vehicle was completely designed in-house and was powered by the world’s first single piece 3d printed engine and also happens to be India’s first flight with a semi cryo engine.
2. Campaigning for Final phase of India's General Election Concludes, Voters to Cast Ballots on June 1st Across 57 Constituencies in 8 States and Union Territories; Counting of All 543 Lok Sabha Seats Set for June 4th
My Take: As the 2024 General Election enters its final phase, anticipation runs high. Initially perceived as a foregone conclusion favoring the incumbent NDA government, the landscape started to change slowly but surely after the first two phases. The BJP, sensing growing anti-incumbency sentiments, distress among farmers, and the unemployed, found their strategies failed to resonate with voters at the level they hoped for. This injected a new level of uncertainty into the electoral process, challenging preconceived notions and setting the stage for a fiercely contested conclusion to one of India's most pivotal elections.
I predict BJP to lose around 20-25 seats from their previous tally of 303 but I expect them to have a comfortable majority to form the Govt with the support of their allies.
3. Cricket T20 World Cup 2024 Kicks Off on June 1st, Featuring 20 Teams Competing Across USA and the Caribbean Islands
My Take: Excitement mounts as the Cricket T20 World Cup commences on June 1st. The tournament opens with a clash between USA and Canada in Dallas, TX, setting the stage for an electrifying series of matches. This edition boasts 20 formidable teams, divided into four groups, each vying for cricketing glory. Among them, India finds itself in Group A, alongside traditional rivals Pakistan, along with Ireland, Canada, and hosts USA. In my view the favorites are Australia, West Indies, South Africa and ofcourse India.
4. RBI has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.
My Take: According to a media report, the Reserve Bank of India will also be bringing back more gold reserves from the foreign country's banks to India in the coming months. The motive behind this move is mainly storage and logistical reasons. But in my view I see it as an indication of RBI’s increasing confidence in the Indian economy. Also at times of geopolitical tensions there is uncertainty over the safety of one's international assets. In the current situation the freezing of the Russian assets by the west and the general outlook on the UK economy has likely added to the concerns of the Indian government of the safety of gold reserves overseas.