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Current Affairs in Short: 18 February 2022


According to the latest SBI research report, India’s Gross Domestic Product (GDP) is likely to grow at 5.8 per cent in the third quarter of FY 2022.

Current Affairs in Brief: 18 February 2022Current Affairs in Brief: 18 February 2022


India’s GDP likely to grow at 5.8 per cent in Q3 FY22: SBI

  • According to the latest SBI research report, India’s Gross Domestic Product (GDP) is likely to grow at 5.8 per cent in the third quarter of FY 2022.
  • India’s economy surpassed pre-pandemic levels in the second quarter of 2021-2022.
  • However, the GDP growth recorded in the July-September period was slower than the previous quarter.

Chetan Ghate appointed as new director of Institute of Economic Development

  • Chetan Ghate has been appointed as the new director of the Institute of Economic Development. He will replace Ajit Mishra in this post.
  • Chetan Ghate was a member of RBI’s first monetary policy committee between 2016-2020. He also worked as Professor of Economics at the Indian Statistical Institute in Delhi for more than 18 years.
  • He is also a member of the Consultative Committee on National Accounting System under the Ministry of Statistics.
  • The Institute of Economic Development is one of India’s premier research and training centers and conducts advanced research on economic and social development in areas including labour, agriculture, public health, macroeconomics, international trade, environment, demography, etc.

Omicron’s BA.2 subvariant may cause severe COVID-19: Lab study

  • According to a child study, the BA.2 subvariant of the Omicron coronavirus variant can cause severe COVID-19.
  • The study so far reviewed has shown that the BA.2 variant may have features that enable it to cause severe disease, similar to Delta.
  • Although the World Health Organization noted on 17 February that BA.2 is more contagious than BA.1, it is not more serious. WHO technical chief Maria Van Kherkhowa said there was no difference between BA.2 and BA.1 in terms of severity. The BA.1 variant is the Omicron variant of COVID-19.

UK discontinues golden visa for investors

  • The United Kingdom on February 17, 2022 decided to discontinue its Tier 1 investor visa for all new applicants due to security concerns.
  • The UK Home Office took action because the investor visa route failed to deliver for UK people and appeared to have been accessed by a corrupt elite in the country.
  • Britain’s Home Secretary Priti Patel said she has zero-tolerance for her abuse of the immigration system. She said that under her new plan for immigration, she wants to make sure the British people have confidence in the system and that includes stopping corrupt elites who threaten their national security.
  • Patel said the closure of the route was the beginning of a renewed crackdown on fraud and illegal finance by the UK.

LIC may bring $8 billion IPO on March 11

  • Government Life Insurance Corporation of India (LIC) is all set to launch India’s biggest ever IPO worth USD 8 billion on March 11, 2022.
  • LIC’s IPO is expected to get regulatory approval by the first week of March, after which the marketing price band will be decided.
  • LIC filed a draft IPO prospectus on February 13, 2022 with the market regulator to sell the Centre’s 5 per cent stake in the company.


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