Daily Current Affairs and GK | 1 April 2024

Topic: Indian Economy

1. Government raised 16, 500 crore in FY 23-24 by selling stakes in companies.

• By selling stakes in about 10 state-run companies, the government has raised Rs 16,500 crore ($1.98 billion) in 2023/24.
• This is 9% lower than its internal target of Rs 18,000 crore.
• In the last decade, the Modi government has met its privatisation and minority stake sale target only twice.
• The government has not set any target for the current financial year, which started on 1 April.
• In 2023/24, the government received about Rs 63,000 crore as dividends from CPSEs. It is more than its target of Rs 50000 crores.
• The Coal India, ONGC, Powergrid and GAIL were the top dividend payers to the government.
• The government received 2964 crores from ONGC, Rs 2,043 crore from Coal India, Rs 2,149 crore from Power Grid Corporation of India.
• Higher dividend from CPSEs shows a robust financial performance of CPSEs during the 2023-24 fiscal.

Topic: Economy/Banking/Finance

2. India’s trade reliance on China and EU is increasing: UNCTAD

• According to a report by the United Nations Conference on Trade and Development (UNCTAD), India’s trade reliance on China and the European Union has grown by 1.2%.
• India’s reliance on Saudi Arabia has decreased by 0.6%.
• India’s trade reliance on China has increased despite India’s Production-Linked Incentive (PLI) scheme and Quality Control Orders (QCOs) initiative to control the entry of cheap Chinese products.
• As per the UNCTAD’s report, the major shift in trade is due to the ongoing Russia-Ukraine war.
• Russia’s trade dependence on China increased by a record 7.1 per cent.
• The US managed to cut reliance on China by 1.2 per cent in 2023, while its trade dependence has increased on the EU and Mexico.
• The dependency of an economy on another is calculated as the ratio of their bilateral trade over the total trade of the dependent economy.
• The global trade has declined in most of the sectors except for pharmaceuticals, transportation equipment, and road vehicles.
• The value of trade has declined by more than 10% in apparel, chemicals, energy metals, office equipment, and textiles.
• According to this report, Trade in goods is expected to contract by about US$ 1.3 trillion or 5 per cent in 2023.

Topic: Defence

3. Mumbai is set to become India's first tri-service common defense station.

• Mumbai is being established by the armed forces as the country's first "tri-service common defense station" for the Army, Navy, and Indian Air Force (IAF).
• The aim of the move is to promote unity among the three services ahead of the establishment of a unified theater command.
• Currently, the senior military hierarchy is discussing the matter, and an announcement is expected shortly.
• Currently, India has no common defense stations.
• In 2001, Andaman and Nicobar Command was established as a full-fledged tri-service command.
• Last year, additional initiatives such as inter-service postings were implemented to promote cooperation between the services.
• All Army, Navy, and IAF facilities, including logistics, infrastructure, repair, and maintenance, as well as stores and supplies, will be consolidated into a single defense station, allowing their optimum operation under a single lead service.

Topic: International Appointments

4. Kamal Kishore has been appointed as Special Representative for Disaster Risk Reduction by the UN Secretary-General.

• UN Secretary-General Antonio Guterres has appointed a top official from India's National Disaster Management Authority as his Special Representative for Disaster Risk Reduction.
• Kamal Kishore has been appointed as the Assistant Secretary-General and Special Representative of the Secretary-General of the United Nations Office for Disaster Risk Reduction (UNDRR).
• In the current position at the National Disaster Management Authority (NDMA), Kishore holds the rank of secretary to the government of India.
• He succeeded Mami Mizutori of Japan at UNDRR.
• As part of India's G20 presidency, Kishor led the G20 Working Group on Disaster Risk Reduction.
• He also contributed to the development of the Coalition for Disaster Resilient Infrastructure launched by Prime Minister Narendra Modi at the Climate Action Summit in 2019.
• Established in 1999, the UNDRR was created to ensure the implementation of the International Strategy for Disaster Reduction. It is headquartered in Geneva, Switzerland.

Topic: State News/ Tripura

5. Tripura's Matabari Pera and Pachra got a coveted GI tag.

• On March 31, Tripura Chief Minister Manik Saha informed that two commodities from the state have earned the coveted Geographical Indication (GI) tag.
• The two items that have received the tag include the first one is Matabari Pera, a dairy-based sweet item traditionally served as prasad at the Tripurasundari temple in Gomti district.
• The second one is Pachra, a handwoven cloth used by the state’s Indigenous communities.
• In March 2023, Matabari Mahila Cluster Level Bhumukhi Sambaya Samiti Ltd had applied for a GI tag for Matabari Pera, while Dewanbari Mahila Cluster Bhumukhi Sambaya Samiti Ltd had made a similar application for Pachara or Rignai cloth.
• According to the 1921 census, there were 34,356 tribal families in Tripura while the number of weavers was 34,485.
• However, the Industrial Survey Report of 1955–56 stated that the total number of weavers was only 15,000.
• Experts believe that the GI tag is expected to give a boost to the dwindling number of traditional weavers and encourage a rich art form.
• A year ago, Tripura's iconic Queen Pineapple received the GI tag among 13 other products from the Northeast.
• 60 products from across India, including the famous Banaras Thandai, have been given the Geographical Indication (GI) tag.

Topic: Important Days

6. Utkal Diwas 2024: 01 April

• Odisha celebrated Utkal Diwas on 01 April.
• Every year, Utkal Divas is celebrated to commemorate the establishment of the state of Odisha on April 1, 1936.
• This important day marks the separation of Odisha from the combined Bihar and Orissa provinces during the British colonial era in India.
• This day is celebrated as the foundation day of Odisha. Odisha celebrated its 89th foundation day on 01 April 2024.
• Odisha Day is also called Vishuva Milan. Kalinga, Utakal, Udra, Toshali, and Kosala are names of Odisha in ancient history.
• Odisha is named after the Odra tribe living in its central region.
• 113th Amendment Bill 2011 changed the name of Orissa to Odisha.

Topic: Banking System

7. A Digital India Trust Agency will be set up by RBI to keep a check on illegal lending apps.

• The proposed Digital India Trust Agency (DIGITA) will verify the digital lending apps and maintain a public register of verified apps.
• Apps without the signature of DIGITA will be considered unauthorized for the purpose of law enforcement.
• It will also act as an important checkpoint in the fight against financial crimes in the digital realm.
• The verification process would bring more transparency and accountability to the growing digital lending sector.
• RBI shared a list of 442 unique digital lending app names with the IT Ministry.
• From September 2022 to August 2023, google has already removed over 2,200 digital lending apps (DLAs) from its app store.

Topic: Biotechnology and Diseases

8. WHO launched a global laboratory to monitor emerging coronaviruses.

• ‘CoViNet’, a global laboratory for monitoring emerging coronavirus, has been launched by the World Health Organization (WHO).
• Besides SARS-CoV-2, the new WHO Coronavirus Network, called CoViNet, will assess other coronaviruses.
•  CoViNet has 36 laboratories from 21 countries in all six WHO regions, including three Indian laboratories.
• WHO COVID-19 reference laboratory network was set during the pandemic in January 2020. It will now have animal health and environmental surveillance and timely risk assessment to feed WHO policies and protective measures.
• CoViNet will support in creation of more laboratories to monitor MERS-CoV and coronaviruses of public health importance.
• On March 26-27, 2024, representatives of the laboratories from different countries have finalised an action plan for 2024-2025.
• The festival symbolizes the enduring friendship between India and Bhutan and highlights the cultural richness of the region.
• The local community organized the festival with the cooperation of civil authorities and the Indian Army.

Topic: Summits/ Conferences/ Meetings

9. Meghayan-24 was conducted at Southern Naval Command on 28 March 24.

• It was a METOC (Meteorological and Oceanographic) seminar.
• It was conducted by School of Naval Oceanology & Meteorology (SNOM) and Indian Naval Meteorological Analysis Centre (INMAC).
• It was based on the theme “At the Frontline of Climate Action”.
• “At the Frontline of Climate Action” is the theme for this year’s World Meteorological Day.
• World Meteorological Day is celebrated every year on 23rd March.
• Admiral R Hari Kumar, Chief of the Naval Staff, delivered the inaugural address through virtual mode.
• An indigenous mobile application, INDRA (Indian Naval Dynamic Resource for Weather Analysis) was also launched.
• It will disseminate weather related information and forecasts enabling optimal and quick decision making.
• BISAG (Bhaskaracharya National Institute for Space Applications and Geo-informatics) has developed this application in coordination with Directorate of Naval Oceanology and Meteorology, Indian Navy.

Topic: Reports and Indices/Rankings

10. An International Labour Organization (ILO) report on India's labor market revealed that the unemployment rate for graduates was 29.1%.

• This was about nine times higher than the 3.4% rate for people who are illiterate.
• The ILO reported that young individuals in India who have completed higher education have a greater unemployment rate than those who have not completed any education.
• Young people with a secondary or higher education had an unemployment rate of 18.4%. This rate was six times higher.
• According to the ILO, youth unemployment in India was mostly a concern for those with a secondary education or above.
• The ILO stated that youth unemployment rates in India are currently higher than the global levels.
• According to the ILO, "the high and rising unemployment rate is a reflection of the Indian economy's inability to create enough remunerative jobs in the non-farm sectors for new educated youth labor force entrants."
• In China, the unemployment rate for youth (16–24 years old) increased to 15.3% in the year’s first two months.
• This was around three times greater than the urban population's 5.3% rate.
• The percentage of young Indians without jobs between the ages of 15 and 29 fell from 88.6% in 2000 to 82.9% in 2022.
• The ILO data indicate that from 2000-2022, the percentage of young people with an education increased to 65.7% from 54.2%.
• According to ILO statistics, women made up 76.7% of young people without jobs who had completed their education, compared to men's 62.2%.
• Additionally, there was more unemployment in urban than rural areas.
• According to the ILO, India has one of the lowest percentages of female labor force participation in the world, at roughly 25%.

Topic: Miscellaneous

11. On 29 March, a hijacked Iranian fishing vessel and its crew of 23 Pakistani nationals rescued by the Indian Navy.

• As part of an anti-piracy operation at sea, the Navy rescued them after more than 12 hours of "intense coercive tactical measures".
• To escort her to a safe area for resuming normal fishing activities, Indian naval specialist teams are presently undertaking thorough sanitization and seaworthiness checks of the fishing vessel.
• The Indian Navy said it was engaged in an operation to rescue the hijacked fishing vessel, which was allegedly manned by nine armed pirates and its crew.
• After the Indian Navy's intense operation, Pirates aboard a hijacked fishing vessel were forced to surrender.
• The fishing vessel was approximately 90 nm southwest of Socotra at the time of the incident and was "reportedly carrying nine armed pirates."
• The Socotra Archipelago is in the northwest Indian Ocean near the Gulf of Aden.
• The Indian Navy has taken the anti-piracy and other maritime security operations in the preceding 100 days under 'Op Sankalp'.
• As part of maritime security operations, the Navy has conducted anti-piracy, anti-missile and anti-drone operations.
• In those 100 days, 110 lives (including 45 Indians and 65 foreign nationals) have been saved during 'Operation Sankalp'.

Topic: National News

12. The validity of FCRA-registered NGOs has been extended till June 30 by the Union Home Ministry.

• On March 28, the Union Home Ministry extended the validity of all FCRA-registered NGOs whose licenses expire on March 31, till June 30.
• This decision provided relief to those whose renewal applications are still pending.
• The ministry has given time till June 30 to all those NGOs whose five-year validity period is expiring between April 1, 2024, and June 30, 2024, to apply for renewal before their validity expires.
• As per law, all NGOs receiving foreign contributions must be registered under the Foreign Contribution (Regulation) Act.
• As of 17 July 2023, there were 16,301 NGOs in the country that had a valid FCRA license.
• For violating the law, the central government had canceled the FCRA licenses of more than 6,600 NGOs in the last five years.
• Overall, FCRA licenses of 20,693 NGOs have been canceled in the last decade.
• According to data disclosed in Parliament last year, 13,520 FCRA-registered associations or NGOs received foreign contributions worth Rs 55741.51 crore in the financial year 2019-2020 to 2021-2022.

Topic: National News

13. Government e-Marketplace (GeM) doubled its Gross Merchandise Value (GMV) to ₹4-lakh crore.

• In the fiscal year 2023-24, Government e-Marketplace (GeM) doubled its Gross Merchandise Value (GMV).
• Currently, GeM has over 1.5 lakh government buyers and 21 lakh sellers and service providers.
• It has integrated 89,421 panchayats and over 760 co-operatives with its procurement ecosystem.
• Around 50 per cent of the total GMV valued at ₹4-lakh crore can be attributed to procurement of services.
• All Central government and departments, including their attached/ subordinate offices, Central and state autonomous bodies, central and state public sector units, and local bodies, buy products from this portal.
• Government e-marketplaces provide a variety of products, ranging from eggs and office stationery to vehicles and defence equipment.
• The government e-marketplace was launched on August 9, 2016, by the Ministry of Commerce and Industry.
• The main objective is to create an open and transparent procurement platform for government buyers.

Topic: Environment and Ecology

14. UNESCO added 18 sites to the Global Geoparks network.

• UNESCO’s Executive Board has decided to add 18 sites to the Global Geoparks network.
• The total number of Geoparks reached 213 in 48 countries.
• The new geoparks are situated in Brazil, China, Croatia, Denmark, Finland, France, Greece, Hungary, Poland, Portugal, and Spain.
• Geoparks serve local communities by combining the conservation of their significant geological heritage with public outreach and a sustainable approach to development.
• The UNESCO Global Geopark designation was formed in 2015. It recognizes geological heritage of international significance.
• Two UNESCO Member States are joining the network for the first time: New Zealand and the Philippines.
• List of newly added Geopark