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NATIONAL AFFAIRS
Cabinet approvals on 24 January 2024
On January 24, 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following schemes and incentives:
i.Approved the Rs 8,500 crore scheme for the promotion of Coal/Lignite Gasification Projects.
ii.Passed the Resolution on Pran Pratishtha at Shri Ram Temple, Ayodhya Dham
iii.Approved signing of a Memorandum of Understanding (MoU) between India and Oman on cooperation in the field of Information Technology(IT).
iv.Approved the protocol to establish a Joint Economic and Trade Committee (JETCO) between India and the Dominican Republic.
v.Cabinet Committee on Economic Affairs (CCEA) approved the equity investment by Coal India Limited (CIL)
- To set up of Coal-to-SNG (Synthetic Natural Gas) Project at Eastern Coalfields Limited (ECL) command area through a joint venture (JV) of CIL & Gail (India) Limited (GAIL).
- To set up a Coal-to-Ammonium Nitrate(AN) Project at Mahanadi Coalfields Limited (MCL) command area through a JV of CIL & Bharat Heavy Electricals Limited (BHEL).
India Nominates “Maratha Military Landscapes”, a network of 12 forts for UNESCO World Heritage List
India has nominated the ‘Maratha Military Landscapes’, a network of 12 forts across Maharashtra and Tamil Nadu(TN) for inclusion in the United Nations Educational, Scientific and Cultural Organization (UNESCO)World Heritage list for 2024-25 under the category of ‘Cultural Sites’.
- These forts showcases the strategic military powers of Maratha rule.
- The 12 components under this nomination are forts of Salher, Shivneri, Lohagad, Khanderi, Raigad, Rajgad, Pratapgad, Suvarnadurg, Panhala, Vijaydurg and Sindhudurg in Maharashtra and Gingee Fort in Tamil Nadu.
About United Nations Educational, Scientific and Cultural Organization(UNESCO):
Director-General – Audrey Azoulay
Headquarters – Paris, France
Establishment – 1945 (came into force in 1946)
>> Read Full News
Bhupender Yadav Released the Report on ‘The Status of Snow Leopards in India’
Union Minister of Environment, Forest, and Climate Change (MoEFCC), Shri Bhupender Yadav released the report on the Status of Snow leopards in India during the National Board for Wildlife meeting held in New Delhi, Delhi.
- The Snow Leopard Population Assessment in India (SPAI) Program is a first-ever scientific study that reported the population of snow leopards.
- The exercise reported 718 snow leopards in India .
- It was conducted from 2019 to 2023.
About MoEFCC
Union Minister – Bhupender Yadav (Rajya Sabha constituency -Rajasthan )
Minister of State (MoS) – Ashwini Kumar Choubey (constituency – Buxar, Bihar )
>> Read Full News
Union Minister Amit Shah launches Computerisation of ARDBs, RCS offices
On 30th January 2024, Union Minister, Amit Shah, Ministry of Cooperation (MoC), launched the computerisation scheme for the offices of Agriculture and Rural Development Banks (ARDBs) and the Registrar of Cooperative Societies (RCSs) of all States and Union Territories (UTs) in New Delhi, Delhi.
- This will increase the operational efficiency, accountability and transparency in ARDB by standardizing business procedures through Common Accounting System (CAS) and Management Information System (MIS).
- The programmes were launched at an estimated cost of Rs.225 crore.
- About 1,851 branches of ARDBs, present in 13 states, will be computerised and linked to the National Bank For Agriculture And Rural Development (NABARD) through Common National Software.
Chenab River Diverted for 850MW Ratle Hydro Electric Project in J&K
On 27th January 2024, Chenab river was diverted through the diversion tunnels at Drabshalla in Kishtwar district, in Jammu and Kashmir (J&K). This is a major milestone of the 850 MegaWatt (MW) Ratle Hydro Electric Project on the Chenab River in Kishtwar which is scheduled to be commissioned in May 2026.
- The river diversion will enable isolation of dam area at river bed for starting the critical activity of excavation and construction of dam.
- The project is being executed by Ratle Hydroelectric Power Corporation Limited (RHPCL), a Joint Venture(51:49) of NHPC Limited and Government of J&K.
Note:
The River Diversion ceremony was inaugurated by R.K. Vishnoi, Chairman & Managing Director (CMD) of NHPC limited.
Marut Drones Delivered India’s 1st Mineral Exploration Drones to NMDC
Hyderabad (Telangana) based Marut Dronetech Private Limited has delivered two customised Octaquad Coaxial X8 drones, India’s first mineral exploration drones, to NMDC Limited.
- Marut Drones Collaborates with NMDC for Drone-Based Mineral Exploration in India. The introduction of the advanced technology in the field of mineral exploration will enhance precision in mineral exploration and mapping for sustainable mining process.
- These drones are equipped with advanced sensors such as Magnetometer, Hyperspectral, and Lidar that enhance its capabilities for accurate exploration and mapping.
NMDC Limited (formerly known as National Mineral Development Corporation) is a Navratna Public Sector Unit functioning under the Ministry of Steel (MoS).
INTERNATIONAL AFFAIRS
India ranks 93 in Corruption Perceptions Index 2023; Denmark Tops
i.The Transparency International released its 2023 Corruption Perceptions Index (CPI) in which India ranked 93 out of 180 countries with an overall score of 39. India’s score was 40 in 2022 with 85th rank.
ii.The CPI 2023 was topped by Denmark with a score of 90. It is followed by Finland with a score of 87 and New Zealand with a score of 85.
iii.India’s score and rank is shared by Kazakhstan, Lesotho, and Maldives.
iv.It should be noted that the global average for CPI remained stagnant at 43 for the twelfth consecutive year.
About Transparency International:
It is a global coalition against corruption.
Chief Executive Officer (CEO)– Daniel Eriksson
Headquarters– Berlin, Germany
>> Read Full News
ECONOMY & BUSINESS
IMF Upgrades India GDP Growth Forecast to 6.5% for 2024
The International Monetary Fund (IMF) released its ‘January 2024 World Economic Outlook update-Moderating Inflation and Steady Growth Open Path to Soft Landing‘ stating India’s expected Gross Domestic Product (GDP) to grow by 6.7% in 2023, stating a 40 basis point increase from the 6.3% forecast made in October 2023.
- This upward forecast is amid better-than-expected resilience in its domestic demand.
- For 2024 & 2025, India’s GDP growth is seen steady at 6.5%.
Global Scenario:
i.The IMF forecasted global growth of 3.1% in 2023 and 2024, and it also changes the global growth to 3.2% in 2025.
- The historical average for the 2000-2019 period was 3.8%.
ii.It forecasted global trade growth of 3.3% in 2024 and 3.6% in 2025, well below the historical average of 4.9%.
- This is amid some 3,000 trade restrictions that were imposed in 2023.
iii.The Global headline inflation is expected to from an estimated 6.8%in 2023 (annual average) to 5.8% in 2024 and 4.4% in 2025.
iv.Average oil prices will drop 2.3% in 2024.
v.Growth in Asia region is expected to decline from an estimated 5.4% in 2023 to 5.2% in 2024 and it will be 4.8% in 2025.
GAIL Signed LNG Purchase Agreement with ADNOC
GAIL (India) Limited has finalized a long-term Liquefied Natural Gas (LNG) purchase agreement with Abu Dhabi National Oil Company (ADNOC), a state-owned oil company of the United Arab Emirates (UAE).
- Under this agreement, GAIL will purchase approximately 0.5 million metric tonnes per year of LNG from ADNOC GAS. The agreement is effective from 2026 for a period of 10 years.
- This is in contribute towards India’s effort to enhance the share of natural gas in energy sector to 15%.
The agreement follows a memorandum of understanding(MoU) signed between GAIL and ADNOC on 30 October 2022 to explore collaboration opportunities.
Note: GAIL (India) Limited is a Maharatna Central Public Sector Enterprises(CPSE) under the Ministry of Petroleum and Natural Gas(MoPNG).
APPOINTMENTS & RESIGNATIONS
President Droupadi Murmu Appoints 4 Members to 16th Finance Commission
President Droupadi Murmu appointed 4 members (3 full-time members and a part-time member) to the 16th Finance Commission (FC), a constitutional body responsible for recommending the distribution of federal taxes among states.
Members:
i.Ajay Narayan Jha, Former Secretary of the Department of Expenditure and Former Member of 15th FC;
ii.Annie George Mathew, Former Special Secretary of the Department of Expenditure;
iii.Niranjan Rajadhyaksha, Executive Director of policy consultancy firm, Artha Global.
iv.Soumya Kanti Ghosh, Group Chief Economic Adviser at the State Bank of India (SBI)
About Ministry of Finance:
Union Minister– Nirmala Sitharaman (RajyaSabha Karnataka)
Ministers of State– Pankaj Chaudhary (Constituency: Maharajganj, Uttar Pradesh); Dr. Bhagwat Kishanrao Karad(Rajya Sabha Maharashtra)
>> Read Full News
Anil Kumar Lahoti Appointed as the New TRAI Chairman
Appointment Committee of the Cabinet (ACC) has approved the appointment of former railway board chairman and chief executive officer(CEO) Anil Kumar Lahoti as the 9th Chairman of the Telecom Regulatory Authority of India (TRAI) for 3 years or until the age of 65 years.
- He will succeed PD Vaghela, who retired from the post on 30th September 2023. The post has been vacant for around 4 months.
About Anil Kumar Lahoti:
i.Anil Kumar Lahoti is an Indian Railway Service of Engineers(IRSE) officer of 1984 batch.
ii.He becomes the third non-IAS (Indian Administrative Services) officer to be appointed as chairman of TRAI, since its inception in 1997.
Career:
i.He has worked in various capacities over Central, Northern, North Central, Western, and West Central Railways.
ii.He has also served as a Member (Infrastructure) of the Railway Board.
iii.In January 2023, he took charge as the Chairman and CEO of the Railway Board, Ministry of Railways. he retired from the post on 31st August 2023.
Note: The other 2 non-IAS officers who served as Chairman of TRAI are Justice Savinder Singh Sodhi (SS Sodhi), 1st Chairman of TRAI (1997 to 2000) and MS Verma, former chairman of State Bank of India (SBI), who served as TRAI chairman from 2000-2003.
About Telecom Regulatory Authority of India (TRAI):
TRAI is a statutory body that regulates the telecommunications sector in India.
Chairman– Anil Kumar Lahoti
Headquarter-New Delhi, Delhi
Established in 1997
AU SFB Appointed Former RBI Dy. Governor HR Khan as Part-Time Chairman 
AU Small Finance Bank (AU SFB) Limited has appointed the former Deputy Governor of the Reserve Bank of India (RBI) & its Non-Executive Independent Director, Harun Rashid Khan (HR Khan) as its Part-Time Chairman with effect from 30th January 2024.
ACC Approved DFS’s Proposal to Transfer EDs of BoB & IOB
The Appointments Committee of the Cabinet (ACC) has approved two proposals made by the Department of Financial Services (DFS) under the Ministry of Finance (MoF) concerning the transfer of the executive directors (EDs) Bank of Baroda (BoB) and Indian Overseas Bank (IOB).
About AU Small Finance Bank Limited:
Managing Director & Chief Executive Officer (CEO) – Sanjay Agarwal
Headquarters – Jaipur, Rajasthan
Established in – 1996
Tagline – Badlaav Humse Hai
>> Read Full News
ACQUISITIONS & MERGERS
CCI Approvals on 30th January 2024
The Competition Commission of India (CCI) has approved the following on 30th January 2024.
i.Subscription of Compulsorily Convertible Preference shares of API Holdings Ltd by Goldman Sachs Schemes.
ii.Subscription of Compulsorily Convertible Preference shares of API Holdings Ltd by MacRitchie.
iii.Approval for Naspers Ventures to Invest in API
iv.Subscription of Compulsorily Convertible Preference shares of API Holdings Ltd by CDPQ
About Competition Commission of India (CCI):
Chairperson – Ravneet Kaur
Headquarters – New Delhi, Delhi
Established in – 2003(Operational from 2009)
>> Read Full News
OBITUARY
Former Union Minister Harmohan Dhawan Passed Away
Harmohan Dhawan, Former Union Minister and Member of Parliament (MP) from Chandigarh, passed away at the age of 83 in Mohali, Punjab. He was born on 14th July 1940, in Fatehjung, Campbelpur district in Punjab, British India(now Attock, Pakistan).
About Harmohan Dhawan:
i.In 1970, he started a small-scale unit and became President of the Industries Association of Chandigarh.
ii.In 1977, he entered politics and assumed the presidency of the Janata Party in 1981.
iii.In 1989, he was elected as MP from the Chandigarh constituency and became Minister of State (Independent Charge), Ministry of Civil Aviation, in the government of the late Prime Minister(PM) Chandrashekhar.
iv.His political journey included associations with parties including the Janata Party, Bahajun Samajwadi Party (BSP), Bharatiya Janata Party (BJP), and Congress.
v.Finally, in 2018, he joined the Aam Aadmi Party (AAP) under the leadership of Arvind Kejriwal. He contested in the 2019 Lok Sabha polls from Chandigarh and lost the seat.
IMPORTANT DAYS
Shaheed Divas or Martyrs’ Day 2024 – January 30
Martyrs’ Day, also known as Sarvodaya Day or Shaheed Diwas, is annually observed across India on January 30 to commemorate those who sacrificed their lives in the line of duty to the nation.
- The day also marks the death anniversary of Mahatma Gandhi, who was considered the “Father of the Nation”.
- 30th January 2024 marks the 76th death anniversary of Mahatma Gandhi.
STATE NEWS
Odisha Launches LABHA, a 100% State-Funded MSP Scheme for Minor Forest Produce
On 29th January 2024, the Odisha Cabinet led by Chief Minister (CM) Naveen Patnaik, launched LABHA (Laghu Bana Jatya Drabya Kraya) Yojana, a new 100% state-funded minimum support price (MSP) scheme for minor forest produce (MFB).
Aim: The scheme aims to eliminate the possibility of distress sale of the produce to middlemen.
About LABHA Yojana:
i.Under this scheme, primary collectors from tribal communities can sell the MFP they collected at the procurement centres of TDCCOL (Tribal Development Cooperative Corporation Limited of Odisha) at MSP.
ii.These centres will be managed by SHGs (Self-Help Groups) and other designated agencies, assisted by TDCCOL.
iii.After collection, the amount will be transferred as DBT (Direct Benefit Transfer) to the beneficiary account.
iv.The procurement automation system will record the information like total collection of MFP, details of the primary collector and procurement point.
v.TDCCOL will process e-tendering and explore value addition and processing units for further sales.
Beneficiaries: The government aims to include 30,000 tribal beneficiaries under the scheme and it is expected to expand to over 1 lakh beneficiaries.
Outlay: Initially the Odisha government has earmarked Rs 100 crore for the scheme. SHGs and other agencies will receive a 2% commission.
Key Points:
i.Now, the MSP will be annually determined by the government of Odisha. At present, the Tribal Co-operative Marketing Development Federation of India (TRIFED) fixes the MSP for MFP.
ii.The government is set to establish a tamarind processing plant in Rayagada with an investment of Rs 25 crore. This plant will use tamarind procured through the LABHA Yojana.
iii.The Odisha Cabinet has also approved the establishment of the Commission for the Preservation and Promotion of the Tribal Languages of the Scheduled Tribes of Odisha. There are 21 tribal languages in Odisha.
Additional info:
Odisha has 63 tribes, 13 of which are Particularly Vulnerable Tribal Groups (PVTG). The tribal population accounts for around 23% of Odisha’s total population. It is the third largest concentration of tribal population in India, after Madhya Pradesh and Maharashtra.
About Odisha:
Chief Minister– Naveen Patnaik
Governor– Raghubar Das
Wildlife Sanctuaries– Lakhari valley sanctuary; Karlapat sanctuary
Zoological Park– Nandankanan Zoological Park
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Current Affairs Today (AffairsCloud Today)
| Current Affairs 1 February 2024 |
|---|
| Cabinet approvals on 24 January 2024 |
| India Nominates “Maratha Military Landscapes”, a network of 12 forts for UNESCO World Heritage List |
| Bhupender Yadav Released the Report on ‘The Status of Snow Leopards in India’ |
| Union Minister Amit Shah launches Computerisation of ARDBs, RCS offices |
| Chenab River Diverted for 850MW Ratle Hydro Electric Project in J&K |
| Marut Drones Delivered India’s 1st Mineral Exploration Drones to NMDC |
| India ranks 93 in Corruption Perceptions Index 2023; Denmark Tops |
| IMF Upgrades India GDP Growth Forecast to 6.5% for 2024 |
| GAIL Signed LNG Purchase Agreement with ADNOC |
| President Droupadi Murmu Appoints 4 Members to 16th Finance Commission |
| Anil Kumar Lahoti Appointed as the New TRAI Chairman |
| AU SFB Appointed Former RBI Dy. Governor HR Khan as Part-Time Chairman |
| CCI Approvals on 30th January 2024 |
| Former Union Minister Harmohan Dhawan Passed Away |
| Shaheed Divas or Martyrs’ Day 2024 – January 30 |
| Odisha Launches LABHA, a 100% State-Funded MSP Scheme for Minor Forest Produce |
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