Notes:
A 122-member armed forces contingent of Bangladesh participated in the Rajpath at the Republic Day parade of India.
This comes as a part of celebration of the 50th anniversary of the 1971 Liberation War, by India and Bangladesh. While Bangladesh takes part in the parade for the first time, it is the third foreign country after France (2016) and the UAE (2017) to take part in India’s Republic Day parade.

Notes:
The United Nations Department of Economic and Social Affairs (UN DESA) released the World Economic Situation and Prospects 2021.
As per the report, India’s economy is projected to grow at 7.3 per cent in 2021 while it is estimated to contract by 9.6 per cent in 2020. According to the UN, the reasons for the contraction are the lockdown and the fallen domestic consumption.

Notes:
The United States President Joe Biden signed an executive order, which would impose rules on government procurement practices.
Dubbed as the ‘Buy American’ order, it aims to strengthen domestic manufacturing and ensure better access to small and midsize businesses. This is a part of the ‘Build Back Better recovery plan’ proposed by Joe Biden.

Notes:
The International Monetary Fund released its latest World Economic Outlook Update recently. As per the report, Indian economy would grow 11.5 per cent in FY22. It has revised the earlier forecast of 8.8 per cent growth.
As per the IMF, India would be the only key country to record a double-digit growth and reclaim the status of the fastest-growing major economy of the world.

Notes:
The U.S. President Joe Biden signed an executive order which allows all qualified Americans to serve in the country’s military.
Former President Barack Obama allowed transgender people to serve in the Military while the previous President Donald Trump banned the process. Now, this new order would repeal the ban while also providing the necessary medical care to the persons.