- The index of industrial production (IIP) witnessed a sharp decline of 16.7 per cent to 120.1 in the month of March, according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI).
- The IIP had grown 2.7 per cent in March 2019. The industrial growth during the fiscal year 2019-20 (April-March) slipped 0.7 per cent, compared to a 3.8 per cent rise in 2018-19.
- The steep fall in IIP during March was mainly on account of a dismal show by mining, manufacturing and electricity sector due to the nationwide lockdown due to the coronavirus (COVID-19).
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News in Short
News in Short - 13-May-2020
Formula one racer Sebastian Vettel to leave Ferrari
Date: 13 May 2020 Tags: Sports- Four-time Formula One Champion Sebastian Vettel will be quitting Ferrari at the end of 2020 after contract talks between the two broke down.
- The 32-year joined formula one's oldest and the most successful team in 2015 after winning the world championship four times with the Red Bull.
- Ricciardo, now at Renault, and McLaren's Spaniard Carlos Sainz have been installed as the leading candidates to take one of the most coveted seats on the grid.
Maruti Suzuki resumes operation
Date: 13 May 2020 Tags: Infrastructure- The country’s largest carmaker Maruti Suzuki India (MSI) has resumed operations at its Manesar plant in Haryana after around 40 days of closure due to the coronavirus-led lockdown.
- On April 22, the Haryana government had granted permission to the auto major to restart its Manesar manufacturing facility, but the company had said it will resume operations only when it can maintain continuous production and sell vehicles.
- Maruti Suzuki’s Manesar plant is outside the limits of Gurugram Municipal Corporation, while its Gurugram plant falls within the city limits. The two plants in Haryana have an installed capacity to roll out 15.5 lakh units per annum.
FT Executive education rankings
Date: 13 May 2020 Tags: Reports & Indices- The Indian Institute of Management (IIM) Bangalore is the only Indian institute to secure rank in the top 50 of Financial Times’ Executive Education Ranking. The institute is at 45th spot globally.
- The FT Rankings have released two indexes in executive education, open programmes and custom programmes. IESE Business School, University of Navarra has secured the number one rank in over all category.
- IIM-B has been ranked at 55th spot in the executive education open programme and 52nd in the custom category. While IIM-B has improved its performance in the customised category from 57th spot last year to 52nd this year.
Seinfeld actor Jerry Stiller dies
Date: 13 May 2020 Tags: Obituaries- Veteran actor and comedian Jerry Stiller, who found fame on Broadway and later in the smash US show "Seinfeld" has died aged 92.
- He played George Costanza's short-tempered father Frank on the smash TV show "Seinfeld," for which he won the Funniest Male Guest Appearance in a TV Series at the American Comedy Awards in 1998.
- He also played Leah Remini's father in the sitcom "The King of Queens" and starred alongside Ben in the "Zoolander" films.