Current Affairs – January, 2018

Latest Current Affairs January, 2018 with Current Affairs, news summary on current events of National and International importance of January, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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India 6th wealthiest country: New World Wealth Report

According to New World Wealth Report, India was ranked sixth in list of wealthiest countries with total wealth of US $8,230 billion in 2017.

The total wealth, refers to private wealth held by all individuals living in each country/city. It includes all their assets (property, cash, equities, business interests) less any liabilities. However it excludes government funds.

Key Facts

Top 10 Wealthiest Countries are United States (1st, total wealth held US $ 64,584 billion), China (2nd, $24,803 billion), Japan (3rd, $19,522 billion), United Kingdom (4th, $9,919 billion), Germany (5th, $9,660 billion), France (7th, $6,649 billion), Canada (8th, $6,393 billion), Australia (9th, $6,142 billion) and Italy (10th, $4,276 billion).

Meanwhile, during period under consideration global wealth rose by 12% (from US $192 trillion at the end of 2016 to US %215 trillion at the end of 2017) and China’s wealth saw an increase of 22% .

India was best performing wealth market globally in 2017 as its total wealth swelled from US $6,584 billion in 2016 to US $8,230 billion in 2017, registering a 25% growth. Over the past decade (2007-2017) India’s total wealth increased from US $3,165 billion in 2007 to US $8,230 billion in 2017, a jump of 160%.

India is home to 3,30,400 HNWIs (individuals with US $1 million or more in net assets). Globally, India was ranked 9th in this aspect while US topped the list with 50,47,400 HNWIs (high-net-worth individuals).

India is also home to 20,730 multi-millionaires, 7th largest in world and in terms of resident billionaires (individuals with US $1 billion or more in net assets), India with 119 such individuals was named among the top three countries globally, after US and China.

Month: Categories: Business & Economy Current Affairs 2018

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Thar Link Express receives extension for three more years

India and Pakistan have extended agreement of Thar Link Express, second solitary rail service between both countries for three more years i.e. till 2021. The Thar Express links Jodhpur (India) and Karachi (Pakistan) via Munabao (Rajasthan)-Khokhrapar (Sindh province) border crossing and carries only passengers.

Thar Link Express is Indian portion of international passenger train operated weekly by Indian Railway using its own coaches and locomotives, between Jodhpur and Munabao. Passengers from Munabao clear customs and are transported to across border to Zero Point station where Thar Express takes passengers to Karachi, Pakistan.

Background

The agreement to link the two countries by rail service through Munabao-Khokhrapar link was signed in 2006 to facilitate people-to-people contact. It was set to expire in March 2018, but has now been extended to January 31, 2021.  The Munabao-Khokhrapar link was destroyed during 1965 war between two countries but the service was again revived after 41 years in February 2006.

India and Pakistan Rail service

India and Pakistan currently have only two trans-border trains. They are

  • Samjhauta Express: Operates on Delhi-Lahore route via Attari-Wagah border crossing. It carries both passengers and freight.
  • Thar Express: It links Jodhpur (India) and Karachi (Pakistan) via Munabao-Khokhrapar border crossing. It carries only passengers.

Month: Categories: India Current Affairs 2018

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