 As per the Organisation for Economic Co-operation and Development’s (OECD) Economic Outlook, India’s economic growth will regain strength and approach 7.5% by 2020 buoyed by rural consumption and subdued inflation. As per the report, Gross domestic product (GDP) growth in India is projected to strengthen to close to 7.25% in FY19. This growth will come from higher domestic demand due to improved financial conditions, fiscal and quasi-fiscal stimulus, including new income support measures for rural farmers, and recent structural reforms. |
| Source- The Economic Times |
 British Prime Minister Theresa May announces resignation from her post. She will resign on 7 June. Her announcement triggers the start of a contest to replace her as Conservative leader and Prime Minister. |
| Source- BBC |
 The Reserve Bank of India has announced that it will allow large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of Rs5 per packet of 100 pieces to a higher rate subject to a maximum of Rs8 per packet. For this, only a currency chest (CC) that fulfils the minimum standards will be eligible to be classified as a large modern CC. The increased rates can be charged only after such classification by the issue office concerned. |
| Source- The Hindu Business Line |
 In Andhra Pradesh, YSR Congress Chief Jagan Mohan Reddy will be sworn in as chief minister of Andhra Pradesh on 30th of May at Vijayawada. Mr Jagan Mohan Reddy has announced this following his party achieving inching towards a landslide victory in the legislative elections for Andhra Pradesh Legislative assembly. Once sworn in, he will replace N Chandrababu Naidu has resigned as Andhra Pradesh CM. |
| Source- News on AIR |
 The Centre has cleared four names recommended by the Supreme Court Collegium for elevation as judges of the apex court. The four appointed judges are Justice Aniruddha Bose, Justice A S Bopanna, Justice B R Gavai and Justice Surya Kant. Law Ministry has issued the notification after President Ram Nath Kovind signed their warrants of appointment. Supreme Court will reach its full sanctioned strength of 31 judges after the appointment of four new judges. As of now, the apex court is functioning with 27 judges including the Chief Justice. |
| Source- News On AIR |
 Volodymyr Zelenskiy took the oath of office as the president of Ukraine and immediately announced that he is dissolving the Verkhovna Rada, the country’s parliament. In his inaugural speech, Zelenskiy called for the dismissal of several top security officials. He has replaced Petro Poroshenko. |
| Source- BBC |
 External Affairs Minister Sushma Swaraj represented India in the meeting of Council of Foreign Ministers (CFM) of Shanghai Cooperation Organisation to be held in Bishkek, Kyrgyz Republic. During the meet, she discussed several pressing issues including the threat of terrorism are expected to be discussed. Pakistan Foreign Minister Shah Mehmood Qureshi also attended the meeting. |
| Source- The Hindu |
 Multilateral funding agency Asian Development Bank (ADB) has announced that it has signed an agreement to provide USD 750 million equivalent in Indian rupee long-term financing to electrify railway tracks in India. It is the largest single non-sovereign loan ever committed by ADB to Indian Railway Finance Corporation (IRFC) to fund the railways track electrification project. |
| Source- The Economic Times |
 The Department of Biotechnology (DBT) under Ministry of Science and Technologyand Department of Atomic Energy (DAE), under Prime Minister of India, has signed an MoU for supporting joint collaborative research programmes in the area of Cancer. The DAE was represented by its Tata Memorial Centre, which also functions as coordinating centre on behalf of The National Cancer Grid of India. |
| Source- Business Standard |
 Renowned filmmaker, film historian, researcher and educationist Vijaya Mulaypassed away at the age of 98 in New Delhi. In 1959, she founded the Delhi Film Societyand was later appointed a joint secretary of the Federation of Film Societies. Vijaya made her directorial debut with The Tidal Bore. The film was entered into the Manheim Film Festival. She is most famously known for her 1974 film Ek Anek Aur Ekta,which was awarded the National Film Award for Best Educational Film. |
| Source- The Quint |
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