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Current Affairs for SSC CGL Exams – 23 June 2022

Current Affairs for SSC CGL Exams – 23 June 2022


Govt. may open ONGC top post to military officers

  • The government is considering formally opening chief executive positions in its blue-chip companies to senior armed force officers, starting with state-run energy behemoth Oil and Natural Gas Corporation (ONGC), even as public sector firms are planning to give preferential employment opportunities to “Agniveers” in junior positions on completing their four-year tour of duty, two people aware of the development said.
  • The government has initiated the process to appoint a chairman & managing director (CMD) at ONGC through a search cum selection committee (SCSC) formed in February this year. The panel has been specifically directed to “consider central government officers, including those of the armed forces of the Union and the all-India Services” for the post, the officials cited above said quoting from an official document.
  • “Meanwhile, the petroleum ministry has also made some changes in eligibility conditions for the position of CMD, ONGC, and has sought a formal approval from the competent authority,” one of the people said, asking not to be named.
  • SCSC is headed by the chairperson of Public Enterprises Selection Board (PSEB) MallikaSrinivasan, with the petroleum secretary, Pankaj Jain, as a member. The position, which fell vacant last year, could not be filled as PSEB, after conducting interview of several candidates could not find them suitable for the post. Hence, the government decided to form SCSC, the first official said.
  • The petroleum ministry, the department of personnel and training (DoPT), and PSEB did not respond to an e-mail seeking comments. Two former senior executives at ONGC, who asked not to be named, said this is the first time the government has explicitly mentioned officers from the armed forces as eligible candidates for the CMD position.
  • “Although in the past, the Indira Gandhi government recruited Colonel Satya Pal Wahi as ONGC chairman in 1981, he had come to the organisation after spending over a decade in several corporate enterprises, such as the Bokaro Steel Plant, Bharat Heavy Electronics Ltd (BHEL), and Cement Corporation of India (CCI) as chairman,” one of the executives said.


Sri Lanka’s economy has ‘collapsed,’ says Prime Minister Wickremesinghe

  • Sri Lanka’s economy has “completely collapsed” and an agreement with the International Monetary Fund is the only path to revival, Prime Minister RanilWickremesinghe told the parliament.
  • “We are now facing a far more serious situation beyond mere shortages of fuel, gas, electricity and food,” Wickremesinghe said, adding that the South Asian nation is unable to purchase imported fuel, even for cash, due to heavy debts owed by its petroleum corporation. “We are now seeing signs of a possible fall to rock bottom.”
  • The gloomy analysis comes as authorities hold talks with the Washington-based lender for an agreement for fresh funds to the bankrupt nation. Sri Lanka needs $6 billion in coming months to prop up its reserves, pay for ballooning import bills and stabilize its currency.
  • Sri Lanka has concluded the initial discussions with the IMF, and exchanged ideas on public finance, debt sustainability, banking sector and social security, Wickremesinghe said. “We intend to enter into an official level agreement with the IMF by the end of July,” he added.
  • Sri Lanka has failed to halt the worst economic crisis it faced in its independent history. Lingering shortages of food, fuel and essentials risk intensifying protests and may hamper political stability further.
  • Hamilton Reserve Bank Ltd., which holds more than $250 million of Sri Lanka’s 5.875% International Sovereign Bonds due July 25, filed a suit in a New York federal court seeking full payment of principal and interest after the country defaulted last month.


Economy to grow 7.5% in FY23, will be world’s fastest growing: PM Modi

  • India’s real gross domestic product (GDP) is set to grow 7.5 per cent in the current fiscal year (FY23) and this will make it the fastest-growing major economy in the world, Prime Minister NarendraModi said on Thursday, while virtually addressing the BRICS Business Forum.
  • This is the first time a real GDP growth projection has been given for the year by the government in the ongoing current financial year. The Union Budget gives out the nominal GDP figure, and the government usually goes by the Reserve Bank of India’s real GDP projection, which stands at 7.2 per cent for FY23.
  • BRICS stands for the international grouping of emerging economies Brazil, Russia, India, China, and South Africa.
  • The prime minister also said his government has brought about transformative changes to enable technology-led growth, in sectors such as space, new economy, green energy, and data.
  • Modi said that even during the Covid pandemic, steps were taken by the Centre to improve the ease of doing business by reducing the compliance burden on companies. He invited businesses from BRICS nations to invest in India’s $1.5-trillion National Infrastructure Pipeline.
  • The PM’s forecast is in line with the World Bank’s forecast but lower than the International Monetary Fund’s much more bullish projection of 8.2 per cent.

  ::Science and tech::

South Korea’s second space rocket launch successfully puts satellites in orbit

  • South Korea’s second test launch of its domestically produced Nuri rocket successfully placed several satellites in orbit, officials said, taking a major step in efforts to jumpstart its space programme after a first test failed last year.
  • The rocket lifted off from Naro Space Center on the southern coast of South Korea at 4 p.m. (0700 GMT). A 162.5-kg (358 lb)satellite designed to verify the rocket’s performance successfully made contact with a base station in Antarctica after entering orbit, officials said.
  • “The sky of the Korean universe is now wide open,” Science and ICT Minister Lee Jong-ho told a briefing. “Our science and technology has made great strides.”
  • The three-stage KSLV-II Nuri rocket, designed by the Korea Aerospace Research Institute (KARI) to eventually put 1.5-ton payloads into orbit 600 to 800 km (370 to 500 miles) above the Earth, is a cornerstone of the country’s ambitious goals for 6G networks, spy satellites, and even lunar probes.
  • It uses only Korean rocket technologies, and is the country’s first domestically built space launch vehicle. South Korea’s last booster, launched in 2013 after multiple delays and several failed tests, was jointly developed with Russia.


Sports Minister Thakur, FIFA delegation discuss way forward for Indian football

  • Fears of the All Indian Football Federation being banned eased after the joint delegation of the Asian Football Confederation (AFC) and the world body, FIFA, met union sports minister, Anurag Thakur, and agreed on preserving the autonomy of the national body and holding an early election.
  • The joint FIFA and AFC team led by AFC general secretary Datuk Seri Windsor John and including three representatives of the world body is on an assessment trip after the Supreme Court disbanded the office-bearers and appointed a three-member Committee of Administrators (CoA). There was concern that FIFA could ban AIFF on grounds of government interference.
  • The delegation’s meeting with Thakur was also attended by senior bureaucrats of the ministry.
  • “It was a long and fruitful meeting. The delegation and the government have both agreed that it is imperative the autonomy of the NSF is of utmost importance and both supported an early election for AIFF to ensure that the NSF can perform its duty as an autonomous body. The government will provide all support for the implementation of the sports code in the AIFF constitution (it is being drafted) so that an early election can take place,” an official in the know of things said.

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