DAILY GK: 21 , 22 JAN 2022
1.
INDONESIA REPLACES SINKING JAKARTA WITH NEW
CAPITAL CITY NUSANTARA
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The Indonesian Parliament has passed a law to relocate its capital from
Jakarta to East Kalimantan, situated to the east of Borneo island.
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The new capital city of the country will be called Nusantara, which is a
symbol of the identity of the nation, and also a new centre of economic
gravity.
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Cause for change in Capital:Jakarta is prone to flooding & climate
change which also suffers from congestion and air pollution.
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According to the World Economic Forum (WEF), Jakarta is one of the
fastest-sinking cities on Earth which has been dropping into the Java Sea due
to the over-extraction of groundwater.
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The name of the new city Nusantara (also called IKN) has been chosen by
President Joko Widodo, it is a Javanese term translated as ‘archipelago’ in the
Indonesian language.
2.
UNCTAD’S INVESTMENT TRENDS MONITOR
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As per the United Nation Conference on Trade and Development’s (UNCTAD)
‘Investment Trends Monitor’ published in January 19, 2022, the Foreign Direct
Investment (FDI) flows to India in 2021 had decreased by 26 percent mainly
because large Mergers & Acquisition (M&A) offers recorded in 2020 were
not repeated.
·
The world’s overseas direct funding flows have rebounded in 2021, which
rose at 77 percent to an estimated USD 65 trillion, from USD 929 billion in
2020.
·
Greenfield investment project in India had contracted by 19 percent to
USD 24 billion and the number of new projects in global value chains (GVCs)
including industries, such as electronics were decreased.