Daily Current Affairs and GK | 1 February 2022

Topic: Awards and Prizes

1. PR Sreejesh wins World Games Athlete of the Year Award.

• Indian hockey goalkeeper PR Sreejesh won the prestigious ‘World Games Athlete of the Year award 2021’ for his performance.
• He becomes the second Indian to win the World Games Athlete of the Year Award.
• His name was recommended by the International Hockey Federation (FIH).
• Rani Rampal was the first Indian to win this honour for her performance in 2019.
• PR Sreejesh won the award by defeating Alberto Gins Lopez of Spain and wushu player Michele Giordano of Italy in the competition.
• PR Sreejesh is a former hockey captain and was part of the Tokyo Olympics-bronze medal winning team. He has represented India in 244 international matches.

Topic: Art and Culture

2. Spituk Gustor Festival 2022 starts in Ladakh.

• Spituk Gustor Festival 2022 has started in Ladakh. The festival is the annual celebration of Ladakhi culture and traditional heritage.
• It is yearly festival of Spituk Monastery. Colourful mask dance performed by monks of the monastery are main attraction of the festival.
• Colourful mask dance is locally called Chams.
• Monks of Spituk Monastery perform the dance in the robes depicting different deities such as Mahakala (Gonbo), Paldan Lhamo (Shridevi) and White Mahakala.
• The mask dance started with Serskam followed by Hashang Hatuk, Six Arms Mahakala, Paldan Lhamo, Shawa and Janak Chams.
• Thangka (painting) of Je Tsongkhapa was displayed for general public to watch during the festival. Je Tsongkhapa is the founder of Gelukspa Sect of Mahayana Buddhism.
• It is believed that harsh winter weather starts getting warmer and pleasant after this festival.
• Spituk Monastery is a Buddhist monastery in Spituk, Leh district, Ladakh. It is also known as Spituk Gompa or Pethup Gompa.

Topic: International News

3. Italian President Sergio Mattarella gets elected for a second term.

• Italian President Sergio Mattarella has got elected for a second term.
• The pledging ceremony for Mattarella is expected to be held on 03 February 2022, when his first term officially ends.
• A head of state is rarely elected for a second term in Italy. So far, only Giorgio Napolitano, Mattarella's predecessor, had previously served a second term.
• Foreign Minister Luigi Di Maio told that the re-election was "a victory for the country." Luigi Di Maio is also a leading figure of Five Star Movement, which is a political party in Italy.
• Italy:
  • It is a European country with a long Mediterranean coastline.
  • Rome is its capital and largest city. Its currency is Euro. Mario Draghi is its Prime Minister.

Topic: Appointments

4. The term of LIC Chairman MR Kumar extended by center.

• The term of LIC Chairman MR Kumar has been extended by center by one more year.
• This is the second extension of MR Kumar’s term. His term was to end on June 30, 2021.
• But he was given a nine-month extension until March 13, 2022. Now his term has been extended till March 13, 2023.
• The term of Raj Kumar, Managing Director of LIC, has also been extended by the Centre by one year beyond January 31. 
• Centre is targeting to raise about Rs 1 lakh crore through LIC initial public offering (IPO).
• Union cabinet is soon likely to take up the proposal to allow foreign investment in LIC.
• Though India allows FDI up to 74% in the insurance sector, this does not apply to LIC. LIC is governed by LIC Act.
• Life Insurance Corporation (LIC):
  • It was formed in September 1956. Government of India completely (100%) owns LIC.  It is headquartered in Mumbai.
  • Its slogan is yogakshemam vahamyaham (Your welfare is our responsibility).

Topic: State News / Tamil Nadu

5. Tamil Nadu has prepared a draft policy for senior citizens.

• In view of the rapid demographic change in the state, the Tamil Nadu Government has prepared a draft policy for older persons.
• It is planning to collaborate with field experts, academic institutions, and civil society organisations working for the welfare of senior citizens.
• In addition, the establishment of a Directorate for the Welfare of Senior Citizens is also planned.
• The draft document is based on Article 41 of the Constitution.
• The article 41 states that the state is to secure the right to work, education, and public assistance in cases of unemployment, old age, illness, and disability.
• Tamil Nadu had 13.6 percent senior citizens last year, according to the report Elderly in India, 2021 released by the Ministry of Statistics and Programme Implementation.
• It is projected to have the second-largest proportion of people aged 60 years and above in Tamil Nadu (after Kerala), with 18.2% in 2031.
• The policy has also envisaged the introduction of livelihood training and capacity building for active senior citizens.

Topic: State News / Madhya Pradesh

6. First geological park to be built in Madhya Pradesh.

• The country's first geopark will be built in Lamheta village on the banks of the Narmada River in Madhya Pradesh's Jabalpur district.
• The park has received approval from the Geological Survey of India, which is part of the Ministry of Mines of the Government of India.
• This project is estimated to cost 35 crores and will be constructed over five acres of land.
• This site is already on the UNESCO geo-heritage tentative list for natural heritage conservation.
• Military officer William Sleeman had collected the first dinosaur fossil from the Lameta Bed in 1828.
• At a cost of Rs 15.20 crore, a science center would be built in Bhedaghat, also in the Jabalpur district.

Topic: Important Days

7. Indian Coast Guard’s 46^th Raising Day: 01 February, 2022.

• Indian Coast Guard’s 46^th Raising Day is being celebrated on 01 February 2022.
• Indian Coast Guard had just seven surface platforms in 1978. Now, it has 158 ships and 70 aircrafts.
• It is likely to have 200 surface platforms and 80 aircrafts by 2025. It is the fourth largest Coast Guard in the world.
• Indian Coast Guard:
  • It is an armed force, maritime, search and rescue, and law enforcement agency.
  • It works under the Ministry of Defense. It is headquartered in New Delhi.
  • It was formally established on 1 February 1977.

(Source: News on AIR)

Topic: Indian Economy

8. Agile approach is the central theme of the Economic Survey 2021-22.

• The art and science of policy making in situations of extreme uncertainty is another theme covered in this Economic Survey.
• The Preface of Economic Survey 2021-22 takes a bird’s eye view of evolution of the Economic Surveys presented since the first Survey in 1950-51.
• In recent years, the Economic Survey used to be presented in the form of two volumes.
• This has been changed in this Economic Survey to a single volume and a separate volume for the Statistical Appendix.
• Economic survey:
  • Department of Economic Affairs under the Ministry of Finance each year prepares an economic survey. It is prepared under Chief Economic Adviser.
  • Finance Minister each year presents the economic survey in Parliament. It provides details about the state of the economy and the financial performance of the government.

Topic: Indian Economy

9. Nirmala Sitharaman presented Economic Survey 2021-22.

• Finance Minister Nirmala Sitharaman presented the Economic Survey 2021-22 in Parliament.
• The highlights of the Economic Survey are as follows:
• State of the Economy:
  • GDP will grow by 8- 8.5 percent in 2022-23 and 9.2 percent in 2021-22.
  • In 2021-22, agriculture and allied sectors will grow by 3.9 percent, and the industry and service sectors will grow by 11.8 percent and 8.2 percent respectively.
  • Consumption will grow by 7.0 percent and Gross Fixed Capital Formation (GFCF) grow by 15 percent.
  • In 2021-22, Export and import will grow by 16.5 percent and 29.4 percent respectively.
  • High foreign exchange reserves, foreign direct investment, and export earnings will provide protection against possible global liquidity tapering in 2022-23.
• Fiscal Developments:
  • During April to November 2021, Gross Tax Revenue has increased by 50 percent.
  • The revenue receipts of the Central Government has also increased by 67.2%.
  • In 2020-21, the Central Government debt has increased from 49.1 percent of GDP to 59.3 percent of GDP.
• External Sectors:
  • India’s external debt has rose to US $ 593.1 billion by September 2021.
  • Foreign Exchange Reserves touched the US $ 633.6 billion till 31 December 2021.
  • At present, India has the fourth largest forex reserves after China, Japan, and Switzerland.
• Prices and Inflation:
  • In 2021-22 (April to December), Food inflation averaged at a low of 2.9 percent.
  • Effective supply-side management kept the prices of commodities under control.
  • Wholesale inflation rose to 12.5 percent during 2021-22.
  • The average headline CPI-Combined inflation remain 5.2% in 2021-22 (April-December).
• Sustainable Development and Climate Change:
  • India’s overall score on the NITI Aayog SDG India Index and Dashboard has improved. It has reached 66 in 2020-21 from 60 in 2019-20.
  • India ranked third globally in increasing its forest area during 2010 to 2020. India has the tenth largest forest area in the world.
• Industry and Infrastructure:
  • Index of Industrial Production (IIP) has grown by 17.4 percent as compared to last year.
  • Production Linked Incentive (PLI) scheme provided support to industries,
  • Service Sector GVA is expected to grow by 8.2 percent in 2021-22.
  • India has become 3rd largest start-up ecosystem in the world after US and China.
• Social Infrastructure and Employment:
  • Expenditure on social services by center and state has increased by 6.2 % in 2014-15 to 8.6% in 2021-22.
  • Total Fertility Rate (TFR) came down to 2 in 2019-21.
  • Employment in the urban sector affected by pandemic has recovered almost to the pre-pandemic level.

(Source: PIB)

Topic: Infrastructure and Energy

10. 16 new airports will be built in five states of central India.

• Union Minister of Civil Aviation Jyotiraditya M. Scindia announced that 16 new airports will be built in Madhya Pradesh, Chhattisgarh, Uttar Pradesh, Rajasthan, and Maharashtra.
• In Madhya Pradesh, an airport will be built at Rewa, Ambikapur. New Airport will be also built at Bilaspur and Jagdalpur in Chhattisgarh.
• Nine airports will be built in Uttar Pradesh, one in Rajasthan, and two in Maharashtra.
• Jyotiraditya M. Scindia addressed the PM-Gati Shakti Central Zone Conference.
• PM Gati Shakti:
  • Its main aim is to synergize the infrastructure projects of all key infrastructure Ministries including Railways, Roadways, Waterways, and Aviation.
  • It will help in better planning and execution of nation-wide infrastructure projects and bring more investment in the country.
  • It envisages multi-modal connectivity, economic zones, industrial zones, agriculture zones, cargo zones, and smart cities.

Topic: Indian Economy

11. Economic Survey forecasted 8%-8.5% growth in 2022-23.

• The Economic Survey for 2021-22 has projected that the GDP will grow by 9.2% in the current financial year and 8% to 8.5% in 2022-23.
• Widespread vaccine coverage, gains from supply-side reforms, easing of regulations, robust export growth will support growth in 2022-23.
• The Survey also highlighted the emerging challenge such as high inflation in most countries, spread of COVID-19 variants, and the cycle of liquidity withdrawal being initiated by major central banks.
• The Survey conceded that private consumption and segments such as travel, trade, and hotels are yet to fully recover.
• India’s investment to GDP ratio has touched 29.6% in 2021-22, the highest level in the last seven years.
• High global commodity prices, higher domestic demand, and growing uncertainty in capital flows can further widen the current account deficit.
• Agriculture and allied sectors is the least impacted by the pandemic and the sector is expected to grow by 3.9 percent in 2021-22.
• The Services sector has been the hardest hit by the pandemic and is expected to grow by 8.2 percent in 2021-22.
• Total consumption is expected to increase by 7% in 2021-22, with significant contributions of government spending.

Topic: MoUs/Agreements/

12. IREDA and Goa Shipyard Ltd inked MoU for Rooftop Solar Power Project.

• Indian Renewable Energy Development Agency (IREDA) and Goa Shipyard Ltd signed MoU to set up a rooftop solar power project.
• IREDA will assist GSL to set-up a rooftop solar power project at the headquarter of the company in Vasco da Gama.
• Under this MoU, IREDA will provide technical support to GSL for rooftop solar and other projects as per the international standards.
• The partnership will bring expertise from both companies to one place.
• The government has aim to produce 40 GW of solar power through rooftop solar projects by the end of 2022.
• This is the seventh MoU signed by IREDA in the last 14 months to provide consultancy services.
• Indian Renewable Energy Development Agency Ltd. (IREDA):
  • It is a Mini Ratna (Category – I) Enterprise.
  • It is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987.
  • It provides financial support to specific projects and schemes for generating electricity through new and renewable sources.

Topic: State News/ Manipur

13. Manipur gets freight train connectivity for the first time.

• The first freight train reached the Rani Gaidinliu station of Manipur on 27 January.
• Manipur gets freight train connectivity for the first time in the last 75 years.
• Recently, a passenger train from Silchar in Assam reached the Bongaichungpao railway station in Manipur for the first time.
• Freight train connectivity will boost transportation of goods and promote economic activities in the northeast region.
• The government has allocated Rs 7,000 crore for the ongoing railway projects in the northeast.
• The Jiribam-Imphal new line project in Manipur will connect Imphal with Guwahati.

Topic: Books and Author

14. Kiran Bedi released a new book ‘Fearless Governance’.

• Kiran Bedi has written a new book titled ‘Fearless Governance’. It is unveiled by Indra Nooyi and Prof Debashis Chatterjee.
• In this book, she has penned down her journey of governance.
• She has also written about the innovative initiatives started by her in Puducherry.
• It is published by Diamond Books and it will be translated in all major Indian languages.