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NATIONAL AFFAIRS
Highlights of PM Narendra Modi’s visit to Mumbai, Maharashtra
On July 13, 2024, Narendra Modi, Prime Minister (PM) of India, visited Mumbai, Maharashtra laid the foundation stone and dedicates to nation multiple projects related to the road, railways and ports sector worth more than Rs 29,400 crores.
- The projects were initiated during the event held in NESCO Exhibition Centre in Goregaon, Maharashtra.
i.PM Modi laid the foundation stones for two major infrastructure projects: Rs 16,600 crore Thane-Borivali Twin Tunnel Project and Rs 6,300 crore Goregaon-Mulund Link Road (GMLR) Project.
ii.PM laid the foundation for the Kalyan Yard Remodelling and Gati Shakti Multi-Modal Cargo Terminal in Turbhe, Navi Mumbai.
iii.PM launched the ‘Mukhyamantri Yuva Karya Prashikshan Yojana: Internship Scheme for Unemployed Youth’ with an outlay of Rs 5,600 crore.
iv.PM Narendra Modi inaugurated the Indian Newspaper Society (INS) Towers at the INS Secretariat in Bandra Kurla Complex (BKC), Mumbai.
About Maharashtra:
Governor– Ramesh Bais
Chief Minister– Eknath Shinde
Wildlife Sanctuaries– Nagzira Wildlife Sanctuary, Chikhaldara Wildlife Sanctuary
>> Read Full News
MoHA Declares June 25 as ‘Samvidhaan Hatya Diwas’ to Commemorate 1975 Emergency in India
The Ministry of Home Affairs(MoHA), Government of India (GoI) declared June 25 as ‘Samvidhaan Hatya Diwas(Constitution Murder Day)’ to honour the struggles and sacrifices of individuals who opposed the abuse of power during the Emergency imposed by the then Prime Minister (PM) Indira Gandhi in 1975.
- Starting from 2025, the Day will be annually observed on 25 June to commemorate the Emergency that suspended the Constitution of India in 1975.
25 June 2025 will mark the 50th anniversary of the Emergency.
Significance of ‘Samvidhaan Hatya Diwas‘:
i.The GoI aims to pay homage to the power of the Indian Constitution and democracy.
ii.The proclamation of Emergency on 25 June 1975, led to gross abuses of power and atrocities against the Indian people.
1975 Emergency in India:
i.On 25 June 1975, the then President of India Fakhruddin Ali Ahmed declared a state of emergency on the advice of PM Indira Gandhi.
- It was the darkest hour for democracy in post-independent India.
ii.Officially, the 21-month-long Emergency was issued under Article 352 of the Indian Constitution, to control “internal disturbance.”
iii.But it came after a period of political instability, economic issues, and a court ruling invalidating the PM’s 1971 election.
iv.It involved the suspension of constitutional rights and the freedom of speech and the press withdrawn.
v.Thousands of opposition leaders, activists, and journalists were arrested without due process, creating a climate of fear and uncertainty.
vi.The impacts of the Internal Emergency in India in 1975 include:
- Curtailment of democratic processes;
- Forced sterilization programs;
- Slum clearance drives in Delhi.
vii.The Emergency officially ended in March 1977 when general elections were called.
- The elections resulted in a significant defeat for Indira Gandhi’s Congress party.
NITI Aayog’s SDG India Index 2023-24: Kerala Retains Top Rank; Bihar Worst Performer
On 12th July 2024, National Institution for Transforming India (NITI Aayog) released the 4th edition of Sustainable Development Goals (SDG) India Index for 2023-24 in New Delhi, Delhi.
- As per the index, Kerala has retained its top ranking among states for the 4th consecutive time. But, this time Kerala shares the top spot with Uttarakhand with a composite score of 79 points.
Key Points:
i.While, Bihar (with score of 57 points) has been adjudged as the worst performing state in SDG India Index 2023-24, followed by Jharkhand (62) and Nagaland (63).
ii.Among Union Territories (UTs), top 5 performers were: Chandigarh topped the index followed by Jammu & Kashmir (J&K), Puducherry, Andaman Nicobar Islands and Delhi.
iii.Overall, SDG score of India improved from 66 points (in 2020-21) to 71 points (in 2023-24). This increase is due to the significant progress made in poverty reduction, economic growth, and climate action and life on land.
About National Institution for Transforming India (NITI Aayog):
Chairperson- Prime Minister Narendra Modi
Vice-Chairperson- Suman Bery
Chief Executive Officer (CEO) – B.V.R. Subrahmanyam
Headquarters- New Delhi, Delhi
Established in- 2015
>> Read Full News
Union Minister Nitin Gadkari Dedicates 6-Lane Controlled Access Road Project in Goa To India
On July 11 2024, Nitin Gadkari, the Union Minister for Road Transport and Highways has dedicated to the nation, a 6-lane access-controlled 7 Kilometres (km) road project with elevated viaducts from Manohar International Airport (Mopa International Airport(GOX)) to Dhargal on NH-166S in Goa , enhancing contemporary road connectivity in Goa.
- The ceremony was presided over by Pramod Sawant, Chief Minister (CM) of Goa in the presence of Shripad Naiki, Union Minister of State (MoS); Sadanand Tanavade, Member of Parliament (MP) Rajya Sabha; Member of Legislative Assembly (MLAs) and senior officials.
Key Points:
i.The 7 km project costing Rs 1183 crore is expected to enhance connectivity to Manohar International Airport, facilitating quicker and more convenient travel.
ii.It is expected that this development will strengthen multi-modal connection and improve tourism, which will lower logistics costs.
iii.It also aims to guarantee smoother and safer traffic movement, which will save fuel usage and travel time.
iv.Furthermore, the project is expected to boost overall socio economic growth, thereby benefiting the local economy and citizen’s quality of life.
Additional info:
i.Nitin Gadkari also announced the construction of a 45-km-long bypass from Wadgaon to Karnataka border, costing Rs 3500 crore in Goa.
ii.He also added that the 4 – laning of the Panaji-Belgaum section of NH-748 will be undertaken. This project will cover 52 km and cost Rs 4000 crore.
About Goa:
Chief Minister (CM) – Pramod Sawant
Governor – P. S. Sreedharan Pillai
Capital – Panaji (Panjim)
Wildlife Sanctuary – Netravali Wildlife Sanctuary
Bird Sanctuary – Dr. Salim Ali Bird Sanctuary
Union Minister Jayant Chaudhary Launches SIDH Portal Under MSDE
Jayant Chaudhary, the Union Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE), has launched the Skill India Digital Hub (SIDH) Portal to ensure that beneficiaries receive complete information about all schemes.
About SIDH:
i.SIDH is part of Digital Public Infrastructure (DPI), the Government of India (GoI)’s flagship initiative for using digital technologies for skill development, through its inclusive, technology-driven approach.
ii.It was created to ensure transparency and provide beneficiaries with comprehensive information on the available schemes.
ii.The portal provides industry-relevant education, career prospects, and entrepreneurial support, expressing the ambitions of millions of Indians seeking for better opportunities.
Note: In September 2023, then Union Minister for Skill Development and Entrepreneurship Dharmendra Pradhan launched Skill India Digital (SID), a comprehensive digital platform to transform India’s skills, education, employment and entrepreneurship landscape.
About the Ministry of Skill Development and Entrepreneurship (MSDE):
Ministers of State (MoS) – Jayant Chaudhary (Rajya Sabha – Uttar Pradesh, UP) (Independent Charge, IC).
GoI Caps Interest Equalisation at Rs 1.66 Cr per IEC for July-August 2024
The Ministry of Commerce and Industry(MoCI) , Government of India (GoI) has capped interest equalisation at Rs 1.66 crore per Importer-Exporter Code (IEC) for the period from 1st July to 31st August 2024.
Key Points:
i.In June 2024, the government extended the Interest Equalisation Scheme (IES) on pre- and post-shipment rupee export credit for 2 months to boost outbound shipments.
- This scheme, which offers interest benefits to exporters, ended on June 30, 2024.
ii.The Directorate General of Foreign Trade (DGFT) specified that the scheme extension, effective from June 28, 2024, applies only to the Micro, Small, and Medium Enterprises (MSME) manufacturer exporters eligible for a 3% IES benefit.
About Importer-Exporter Code (IEC):
i.IEC is a unique 10-digit alpha numeric code issued on the basis of PAN (Permanent Account Number) of an entity. It is issued to an exporter or importer by the regional office of the Director general of Foreign Trade (DGFT), Department of Commerce.
ii.The IEC is a mandatory business identification number for any export or import activities in India.
iii.No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
Uttarakhand Govt’s eSwasthya Dham Portal Integrated with ABDM for Enhanced Pilgrim Health Monitoring
The eSwasthya Dham portal, launched by the Department of Health and Family Welfare, Government of Uttarakhand, is now integrated with the Ayushman Bharat Digital Mission (ABDM), a Central Sector Scheme, to create an integrated digital health infrastructure across India.
- The portal helps in monitoring the Char Dham Yatra pilgrim‘s health parameters for a smooth journey of pilgrims visiting Yamunotri, Gangotri, Kedarnath, and Badrinath-together called the Char Dham Yatra.
- By using the portal pilgrims can create their Ayushman Bharat Health Account (ABHA), a 14-digit number in 1-2 minutes.
- ABHA creation, as part of the ABDM, establishes a digital health identity for devotees, allowing for better management of health records and quicker emergency interventions.
Note: Additionally, a helpline number 104, has been established to assist pilgrims.
INTERNATIONAL AFFAIRS
Indian Air Force (IAF) Contingent Joined Exercise Pitch Black 2024 in Darwin, Australia
On 11th July 2024, An Indian Air Force (IAF) contingent arrived at the Royal Australian Air Force (RAAF) Base Darwin, Australia to participate in Exercise Pitch Black 2024,a multi-national Air Force exercise. The exercise is running from 12th July to 2nd August, 2024.
- This edition will be the largest in the 43-year history of Exercise Pitch Black as it will see the participation of 20 countries, with more than 140 aircraft and 4,400 military personnel of various air forces.
Note: The last edition of Exercise Pitch Black was held at RAAF Bases Darwin and Tindal, Australia from 19th August to 8th September, 2022.
Background:
i.It is a biennial multi-national exercise hosted by the RAAF.The name ‘Pitch Black’ was originated from the emphasis on night time flying over large un-populated areas.
ii.Exercise Pitch Black was initially started as unilateral 3-day air defense exercise held in June, 1981 at RAAF Base Williamtown in New South Wales, Australia.
iii.It was 1st held as bilateral exercise between Australia and the USA in May, 1983 in Darwin, Australia. Later, it has evolved into a comprehensive biennial event which includes the participation of multiple nations.
About Exercise Pitch Black 2024:
i.Focus: This edition of exercise Pitch Black will mainly focus on Large Force Employment(LFE) warfare aimed at bolstering international cooperation and shall provide experience enhancement with the IAF Su-30 MKI operating alongside the F-35, F-22, F-18, F-15, Gripen and Typhoon fighter aircraft.
ii.IAF Contingent: It includes over 150 highly skilled Air Warriors including pilots, engineers, technicians, controllers and other subject matter experts, who will be operating the Su-30 MKI multirole fighters, with the C-17 Globemaster and the IL-78 (air-to-air) refueling aircraft in combat enabling roles.
- Bhawana Kanth who was the first female pilot of the IAF to fly Su-30MKI fighters planes is also participating in the exercise Pitch Black.
- The IAF has previously participated in the 2018 and 2022 editions of Pitch Black.
iii.Key Participating countries: Australia, India, France, Germany, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand and the United States of America (USA), Thailand and the United Kingdom (UK) are the regular participants.
- Other countries such as: Brunei, Canada, Fiji and New Zealand will have personnel embedded participating in the exercise.
- Countries like: Papua New Guinea, Italy, Spain and the Philippines, will be participating for the 1st time in the exercise.
- An aircraft carrier, ITS Cavour from Italy will be participating for the 1st time in Exercise Pitch Black.
About Australia:
Capital-Canberra
Prime Minister (PM) – Anthony Albanese
Currency- Australian Dollar (AUD)
About Indian Air Force(IAF):
Chief of Air Staff(CAS)- Vivek Ram Chaudhari
Headquarters– New Delhi, Delhi
Established- 8th October, 1932
BANKING & FINANCE
Jio Financials Gets RBI Nod to Become Core Investment Company
The Reserve Bank of India (RBI) approved the conversion of Jio Financial Services Limited (JFSL) from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC).
- According to the RBI regulations, a CIC is a specialised type of NBFC with an asset size greater than Rs 100 crore.
Note : Jio Financial Services is the demerged entity of energy-to-telecom conglomerate Reliance Industries Limited (RIL), officially debuted on the stock exchanges on 21 August 2023.
JFSL’s Eligibility Criteria as CIC:
i.CICs are non-deposit-taking financial companies. As a CIC, Jio Financial will focus on investments in and management of its subsidiary companies.
- CICs are specialized financial entities governed by the RBI Act of 1934.
ii.JFSL must hold at least 90% of its net assets in equity shares, preference shares, bonds, debentures, debt, or loans in its group companies.
iii.The CIC structure would enable JFSL to delineate the financials and operations of each subsidiary, providing better value discovery for investors.
Benefits of CIC Status:
i.As CIC, the JFSL gains greater operational flexibility and can focus on core investment activities without engaging in other financial services.
ii.This structure allows JFSL to explore various sectors, diversify its investment portfolio, and adapt to market conditions.
About Jio Financial Services Ltd (JFSL):
JFSL was originally incorporated as Reliance Strategic Investments Private Limited on July 22, 1999, under the Companies Act 1956.
- The name of the Company was first changed to Reliance Strategic Investments Limited in 2002 and further changed to ‘Jio Financial Services Limited’ in 2023.
Managing Director (MD) and Chief Executive Officer (CEO)- Hitesh Kumar Sethia
Headquarters– Mumbai, Maharashtra
Bajaj Finserv Launches Savings+ Product For Retail Investors
Bajaj Finserv Asset Management Limited has launched Bajaj Finserv Savings+, a new financial product for retail investors seeking returns on their idle savings.
i.Aim : To bridge the gap between standard savings accounts and more profitable investing options.
ii.It enables investors to invest in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund, which provide competitive returns and liquidity.The minimum investment amount is Rs 100.
iii.The liquid funds returned 7.17% between July 2023 and June 2024, which is greater than the average savings account interest rate of 3.5% offered by India’s top five banks.
- T+1 day liquidity is another advantage available to investors which allows them to instantly redeem up to Rs 50,000 or 90% of their investment value, whichever is less, in a matter of minutes.
iv.It has partnered with Perfios Software Solutions Private Limited, a B2B SaaS Fintech, as a technical service provider for this initiative.
Note: Bajaj Finserv Asset Management Limited has been referred to as Bajaj Finserv Asset Management Company (AMC), headquartered at Pune, Maharashtra.
AWARDS & RECOGNITIONS
Prince Harry Receives Pat Tillman Award 2024 For Service At ESPYS
Prince Harry has received the Pat Tillman Award 2024 for Service at the Excellence in Sports Performance Yearly (ESPY) Awards in Los Angeles, the United States of America (USA).
- He was honoured in recognition of his The Invictus Games Foundation, a platform for sports competition for wounded, injured, and sick service men and women.
About Pat Tillman Award:
i.Pat Tillman Award honours the player who demonstrates his best willingness to serve.
ii.It was named after the former National Football League (NFL) football Player Pat Tillman who demonstrated in how he lived his life before being tragically killed in Afghanistan, 2004.
Note: In 2023, Damar Hamlin presented the Pat Tillman Award to the Buffalo Bills training staff who helped save his life during a game.
APPOINTMENTS & RESIGNATIONS
K P Sharma Oli Took Oath as New Prime Minister of Nepal; Succeeds Pushpa Kamal Dahal Prachanda
On 15th July 2024, Khadga Prasad (KP) Sharma Oli(72-year-old), Chairman of the Communist Party of Nepal (Unified Marxist Leninist) (CPN-UML), took oath as the Prime Minister(PM) of Nepal during the swearing in ceremony held at the Rashtrapati Bhawan, Kathmandu, Nepal.
- This marks his 4th term as PM of Nepal. He was appointed to the post by Ram Chandra Paudel, President of Nepal.
- He succeeds Pushpa Kamal Dahal Prachanda, who lost a vote of confidence on 12th July 2024.
Note: He also becomes the first PM of Nepal to be appointed following the 1st general election under the new constitution of Nepal.
Background:
i.On 3rd July 2024, Communist Party of Nepal (Marxist-Leninist) withdrew its support to the government and PM Prachanda sought a vote of confidence.
ii.Around 138 votes are needed to prove majority in the 275 member parliament.
iii.Prachanda received 63 vote in favour while 194 voted against and one lawmaker abstained.
iv.This led to the formation of the new government process as per Article 76 (2) of the Constitution of Nepal.
v.KP Sharma Oli submitted the claim to the post with signatures of 166 lawmakers in his support.
About KP Sharma Oli:
i.KP Sharma Oli was born on 22nd February 1952 in Terhathum district, Nepal.
ii.He joined political activities in 1966 and became a member of Communist Party of Nepal in February 1970.
iii.He was arrested in 1973 and imprisoned for 14 years for being against autocratic Panchayat system. He was released in 1987.
Career highlights:
i.KP Sharma Oli has previously served as Nepal’s PM from October 2015 to August 2016 and then from February 2018 to May 2021 and from May 2021 to July 2021.
- His appointment in 2021 was quashed by the Supreme Court of Nepal for being unconstitutional.
ii.He has also served as Home Minister in 1994/95 and Deputy PM and Minister for Foreign Affairs during the interim government in 2006.
About Nepal:
President– Ram Chandra Poudel
Capital– Kathmandu
Currency– Nepalese Rupee
DoT Officer Robert Ravi Takes Additional Charge as CMD of BSNL; Purwar Denied Extension
Robert Jerard Ravi, the Deputy Director General (DDG) (Standards Research & Innovation – SRI) at the Department of Telecommunications (DoT), Ministry of Communication (MoC), takes additional charge as the Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL).
- Ravi will replace Pravin Kumar Purwar, whose tenure as CMD of BSNL expires on 14th July 2024.
- Ravi also takes charge as CMD of Mahanagar Telephone Nigam Limited (MTNL) and Bharat Broadband Network Limited (BBNL) for a period of six months with effect from 15th July 2024 until January 14 2025, or until further orders are issued.
Additional info:
i.Pravin Kumar Purwar has been serving as the CMD of BSNL since July 2019. His application to extend his tenure was rejected by the DoT.
ii.The Appointments Committee of the Cabinet (ACC) has decided not to extend the tenure of Pravin Kumar Purwar as the CMD of BSNL beyond July 14 2024.
About Robert Jerard Ravi:
i.Robert Jerard Ravi is an Indian Telecom Service (ITS) officer and has 34 years experience in the telecom sector.
ii.He also served as the Chief Technology Officer (CTO) to Government of Tamil
Nadu(TN) and worked as Senior Advisor at the Ministry of Information Communication Technology (ICT) for Government of Uganda
iii.He has also served as the Advisor (Consumer Affairs and Quality of Services) at the Telecom Regulatory Authority of India (TRAI).
He also worked as Chief Engineer, with Telecommunications Consultants India Ltd. (TCIL) in Kuwait and Qatar.
About Bharat Sanchar Nigam Limited (BSNL):
BSNL was incorporated in September, 2000 under the Indian
Companies Act, 1956.
Chairman and Managing Director (CMD) – Robert Jerard Ravi
Headquarters – New Delhi, Delhi
About Ministry of Communications (MoC):
Union Minister – Jyotiraditya M. Scindia (Lok Sabha Constituency – Guna, Madhya Pradesh)
Minister of State(MoS) – Chandra Sekhar Pemmasani (Constituency – Guntur, Andhra Pradesh)
SCIENCE & TECHNOLOGY
France, Germany, Italy & Poland signed LoI to Jointly Develop Long-Range Cruise Missiles
On July 11 2024, France, Germany, Italy, and Poland signed a Letter of Intent(LoI) to jointly develop Long Range Cruise Missiles with a range of over 500 kilometres (Km).
- The LoI was signed during North Atlantic Treaty Organization (NATO)’s 75th anniversary summit held in Washington D.C., The United States of America (USA).
- This aims to fill the gap in European defence exposed by the ongoing Russia-Ukraine war.
About the LoI:
i.The LoI aims to establish cooperation in the development of a critical deep-impact capacity, and in the future, cooperative initiatives on specific measures to close gaps, decrease costs, and shorten lead times.
ii.This collaboration will enable the exchange of expertise and the combined purchasing of missiles that are already being developed.
iii.The first draft of the long-range missile is planned to be published by the end of 2024, with details such as specifications to be worked out subsequently.
Poland joins Drone Coalition:
During the NATO summit, Poland also joined the drone coalition, to bolster Ukraine’s supply of drones.
Drone Coalition:
i.The Drone Coalition, spearheaded by the United Kingdom(UK) and Latvia, represents a coordinated initiative to deliver one million First Person View (FPV) drones to Ukraine.
ii.The coalition includes Australia, Denmark, Estonia, Germany, Italy, Latvia, the Netherlands, New Zealand, Poland, Sweden, the UK and Ukraine.
- However, Poland will not participate in shooting down Russian missiles over Ukrainian territory without a NATO acceptance.
About the North Atlantic Treaty Organization (NATO):
NATO is an intergovernmental military alliance of countries from Europe and North America.
Secretary – General (SG) – General Jens Stoltenberg (Norway)
Headquarters – Brussels, Belgium
Established – 1949
Members – 32 countries
SPORTS
PUMA India Partners with IOA to Become Official Footwear Partner for Indian Contingent at Paris Olympics 2024
Sports brand Puma India has partnered with the Indian Olympic Association (IOA) to become the Official Footwear Partner for the Indian contingent at the Paris Olympics 2024, which scheduled to take place from 26 July to 11 August 2024 in France, Paris.
- Puma has launched a large-scale outdoor campaign titled “See the Game Like We Do” to leverage this partnership.
- The partnership will provide over 100 Indian athletes with various equipment including footwear, bags, accessories, etc.
- 45 of these athletes are part of the Puma contingent, making it the largest squad representing a brand in India in 2024.
Note: The “See the Game Like We Do” campaign features prominent Indian athletes like double Olympic medallist Pusarla Venkata Sindhu, Olympic bronze medallist Parattu Raveendran Sreejesh, and Asian Games medallist Kishore Jena.
IMPORTANT DAYS
World Youth Skills Day 2024 – July 15
The United Nations (UN) World Youth Skills Day (WYSD) is annually observed across the globe on 15 July to celebrate the strategic importance of equipping young people with skills for employment, decent work, and entrepreneurship.
- The theme for WYSD 2024 is, “Youth Skills for Peace and Development.”
Background:
i.On 18 December 2014, the UN General Assembly (UNGA) adopted the resolution A/RES/69/145, proclaiming 15 July of every year as World Youth Skills Day.
ii.The first-ever WYSD was observed on 15 July 2015.
About the UNESCO-UNEVOC:
The UNESCO-UNEVOC International Centre for Technical and Vocational Education and Training is one of 8 UNESCO institutes/centers working in the field of education, and the only organisation working to promote the UN mandate through TVET.
The acronym UNEVOC is a combination of ‘UNESCO’ and ‘vocational education’.
Head of UNESCO-UNEVOC– Friedrich Huebler
Headquarters– Bonn, Germany
>> Read Full News
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