Daily Current Affairs and GK | 1 October 2024

Topic: State News/Maharashtra

1. Maharashtra government declared the indigenous cow as ‘Rajya Mata’.

• The Maharashtra government conferred the title of ‘Rajya Mata’ to indigenous cows. It will help in the welfare of cows.
• Maharashtra Chief Minister Eknath Shinde also announced a subsidy scheme with Rs 50 per day for the rearing of cows in ‘goshalas’.
• This initiative will be implemented by the Maharashtra Goseva Commission.
• Its main aim is to reverse the declining population of indigenous cows, which has decreased by 20.69 per cent as per the 2019 census.
• Each district will have a District Goshala Verification Committee. The scheme will be implemented online by the Goseva Commission.
• The state government also approved an interest-free secondary loan assistance to MMRDA.
• Maharashtra legislative Assembly elections will be held soon in 288 constituencies.

Topic: Government Schemes and Initiatives

2. Cruise Bharat Mission has been launched by Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal from the Mumbai port.

• With the help of the Cruise Bharat Mission, India aims to realise its dream of being the world's premier cruise destination and a hub for cruise tourism.
• According to Union Minister Sonowal, the mission's goal is to double the number of passengers on cruise ships by 2029 in order to boost the nation's cruise tourism sector.
• He further said that the government is dedicated to maximising the enormous potential of India's Blue Economy.
• The launch event was also attended by the Union Minister of State, Shantanu Thakur.
• According to Mr. Shantanu Thakur, Cruise Bharat is a visionary initiative.
• It will open new horizons, and create unprecedented opportunities.

Topic: Indian Economy

3. SEBI held its board meeting on 30 September 2024.

• It has approved important initiatives to streamline mutual fund industry standards and facilitate trading for regular investors.
• Asset management businesses can now offer riskier strategies, like long-short equities, to high-risk investors with a minimum investment of ₹10 lakh.
• "MF Lite" a relaxed framework with few requirements has been introduced by SEBI.
• It is intended for firms wanting to launch only passive mutual fund schemes.
• The MF Lite framework, often known as light-touch regulations, has relaxed rules on sponsors' eligibility requirements.
• The period for rights issues has been cut by SEBI to 23 days.
• In order to facilitate faster rights issues via the preferential allotment route, SEBI has adopted standards.
• Instead of the current timeline of 317 days, this alternative route can be completed in 23 days after the issuer's board meeting approving the rights issue.
• The 40 working days required to finish the preferential allotment can be accomplished more quickly by taking this new method.
• The present requirement of filing a draft letter of rights offer with SEBI of its observation has been discontinued by SEBI.
• Since the entity is already listed, it will instead be filed with stock exchanges for their in-principle approval.
• Under the guidelines pertaining to insider trading, SEBI broadened the definitions of "connected person" and "immediate relative."
• The definition of "relative" now includes the person's spouse, child, parent, and sibling.
• Investors will be required to have the opportunity to trade in the cash part of the secondary market through a UPI block method, provided by qualified stock brokers.
• Additionally, SEBI relaxed the requirements for registration eligibility and streamlined the compliance standards for Research Analysts (RAs) and Investment Advisers (IAs).

Topic: Important Days

4. International Day of Older Persons: 1 October

• International Day of Older Persons is celebrated every year on 01 October.
• On 14 December 1990, the UN General Assembly adopted a resolution to designate 1 October as the International Day of Older Persons.
• The International Day of Older Persons was observed for the first time on October 1, 1991.
• This day highlights the contributions of older people to society and raises awareness about the opportunities and challenges of aging in the present century.
• United Nations Principles for Older Persons were adopted by the General Assembly in 1991.
• The theme of this year’s International Day of Older Persons is "Ageing with Dignity: The Importance of Strengthening Care and Support Systems for Older Persons Worldwide".

Topic: India and its Neighbors

5. Anti-dumping investigation initiated by India on some steel imports from China.

• According to a recent notification issued by the central government, the Government of India has officially initiated an anti-dumping investigation regarding the import of cold rolled non-oriented electrical steel from China.
• POSCO Maharashtra Steel Private Limited and CSCI Steel Corporation India Private Limited filed the application for investigation on behalf of the domestic steel industry.    
• According to the Directorate General of Foreign Trade, the applicants have reportedly claimed that the imported steel is being sold at dumping rates, causing serious injury to the domestic industry.
• The applicants have expressed concern over the imminent threat of material injury to domestic producers due to these dumped imports.
• Anti-dumping duty acts as a protective measure, designed to balance the price difference between imported goods sold at less than the normal market price and the domestic products of the importing country.
• The current investigation focuses on Cold Rolled Non-Oriented Electrical Steel (CRNO), a type of cold rolled flat steel product used in a variety of applications, including iron core materials for power generators and electric motors.
• According to notification, the parties involved in the application have to submit their comments within 15 days of the commencement of the investigation.

Topic: MoUs/Agreements

6. An agreement signed by Department of Social Justice with NALSA to create awareness on social welfare schemes.

• On 30 September, an agreement signed by the Department of Social Justice and Empowerment (DoSJE) with the National Legal Services Authority (NALSA) in New Delhi.
• This important partnership is aimed at increasing public awareness about various Acts, Rules and Schemes of the Department, especially those enacted to provide relief to the marginalized and vulnerable sections of the society.
• NALSA, constituted under the Legal Services Authorities Act, 1987, aims to provide legal aid to disadvantaged groups and spread legal literacy.
• Under this MoU, a series of campaigns, seminars and events will be organized to increase the reach and impact of social welfare schemes for vulnerable communities across India.
• During the event, the SARTHIE 1.0 initiative was also officially launched.
• The initiative is a joint effort to empower disadvantaged communities including Scheduled Castes (SC), Other Backward Classes (OBC), senior citizens, transgender persons, victims of alcohol and substance abuse, beggars, denotified and nomadic tribes, etc.
• The SARTHIE 1.0 initiative is also in line with the United Nations’ 2030 Agenda for Sustainable Development, particularly the goals focused on eradicating poverty, reducing inequality and promoting social protection policies that ensure greater equality for all.

Topic: Defence

7. India will participate in Euronaval 2024 Defence Exhibition in France.

• India is one of the 104 countries that have been invited to attend the world’s largest naval defence trade show.
• World’s largest naval defence trade show will be held in Paris from 4-7 November.
• The event will focus on innovation, sovereignty and international cooperation.
• During Euronaval 2024, the strategic and industrial challenges will be discussed.
• In the exhibition, there will be discussion on innovation, resilience and sustainability and debates and conferences.

Topic: Indian Economy

8. India’s core sector output declined by 1.8% in August 2024.

• The Index of Eight Core Industries (ICI) has seen a 1.8% decline in August 2024.
• This decline was caused by negative growth in coal, crude oil, natural gas, petroleum refinery products, cement, and electricity production.
• Steel and fertilizers have recorded an increase in output during August 2024.
• The cumulative growth rate of the Eight Core Industries was 4.6% from April to August 2024-25.
• The Index of Eight Core Industries (ICI) tracks the combined and individual performance of eight core industries.
• The contribution of eight core industries to the Index of Industrial Production (IIP) is 40.27%.
• Coal production and crude oil production saw an 8.1 percent and 3.4 percent decrease, respectively, in August 2024 compared to August 2023.
• Natural gas production dropped by 3.6 percent in August 2024 and petroleum refinery products saw a 1.0 percent decrease in August 2024.
• Fertilizer production and steel production grew by 3.2 percent and 4.5 percent in August 2024.
• Cement production saw a 3.0 percent decline in August 2024 and electricity generation declined by 5.0 percent in August 2024.

Topic: Summits/ Conferences/ Meetings

9. Union Minister Prataprao Jadhav inaugurated the Ayush Medical Value Travel Summit 2024.

• The theme of this summit is ‘Global Synergy in Ayush: Transforming Health and Wellness through Medical Value Travel’.
• It has been organized by the Ministry of Ayush, Government of India, in collaboration with the Ministry of Tourism, the Government of Maharashtra, and key partners.
• It provided a platform for stakeholders, including government officials, wellness centres, etc., to discuss the future of Ayush-based healthcare and Medical Value Travel.
• The first Medical Value Travel Summit 2024 in Mumbai will be followed by events in Bhubaneswar and a grand finale in Delhi.
• This will target one crore households with campaign 'Desh ka Prakrutik Parikshan—Ghar Ghar tak Ayurved on the occasion of Ayurveda Day."
• As per the analysis, the Ayush sector has grown from $3 million in 2014 to $18.1 million in 2020—an increase of sixfold within six years.
• The main aim of the summit is to strengthen India's position in Medical Value Travel (MVT) by integrating traditional Indian systems of medicine—Ayurveda, Yoga, Unani, Siddha, and Homeopathy (Ayush)—with modern healthcare systems.

Topic: Defense News

10. 8th edition of the KAZIND-2024 Joint Military Exercise commenced in Auli, Uttarakhand.

• The military exercise KAZIND-2024 between India and Kazakhstan is scheduled to be conducted from 30th September to 13th October 2024.
• 120 personnel of the KUMAON Regiment battalion are taking part in this exercise.
• The Kazakhstan contingent is being represented mainly by personnel from land forces and airborne assault troops.
• The main aim of the exercise is to enhance the joint military capability of both sides to undertake counterterrorism operations in a sub-conventional scenario under Chapter VII of the United Nations Charter.
• It will focus on operations in the semi-urban and mountainous terrain. It will enable both sides to share best practices in tactics, techniques, and procedures for conducting joint operations.
• It will facilitate the development of inter-operability, bonhomie and camaraderie between the two armies.

 (Source: PIB)

Topic: Summit/Conference/Meeting

11. The 6th India-USA Commercial Dialogue meeting will be co-chaired by Piyush Goyal in Washington, D.C., with Ms. Gina Raimondo.

• Shri Piyush Goyal, Union Minister of Commerce and Industry, Government of India, is on a visit to the United States of America from September 30 to October 3, 2024 at the invitation of Ms Gina Raimondo, Secretary of Commerce of the United States of America.
• Shri Piyush Goyal will co-chair the India-US CEO Forum with Secretary Raimondo on October 2, 2024 and the 6th India-US Commercial Dialogue on October 3, 2024 in Washington DC.
• During this, the two sides will discuss ways to generate sustainable economic growth, further improve the business and investment climate, and deepen ties between the Indian and US business communities.
• Union Minister Goyal will interact with leading American and Indian CEOs and captains of industry and discuss the vast investment opportunities in India.
• Both countries are negotiating an MoU aimed at enhancing bilateral cooperation to expand and diversify essential critical mineral supply chains and leverage their complementary strengths.

Topic: Awards and Prizes

12. The iconic Dadasaheb Phalke award 2024 will be presented to veteran actor Mithun Chakraborty.

• In 1976, he received his first National Film Award for Best Actor for his debut film, Mrinal Sen's Mrigaya.
• President Draupadi Murmu will preside over the ceremony, which will celebrate Chakraborty's career and her impact on the Indian film industry.
• The ceremony will be held on 8 October 2024 at Vigyan Bhavan, New Delhi.
• The winners of the 70th National Film Awards were announced on August 16, 2024.
• In 2023, Waheeda Rehman was named a recipient of the Dadasaheb Phalke Award.

Topic: State News/Maharashtra

13. PM Modi dedicated the Bidkin Industrial Area to the nation.

• Prime Minister Narendra Modi dedicated the Bidkin Industrial Area (BIA) in Maharashtra to the nation.
• The Bidkin Industrial Area has been developed under the National Industrial Corridor Development Programme as part of the Delhi-Mumbai Industrial Corridor.
• The Maharashtra Industrial Township Limited (MITL) is a special-purpose vehicle formed with a 51:49 partnership.
• It has been formed in collaboration of the Maharashtra Industrial Development Corporation (MIDC) and National Industrial Corridor Development and Implementation Trust (NICDIT).
• This industrial hub holds immense potential to catalyse economic growth in the Marathwada region.
• It has been prioritised with an investment of Rs 2,427 crore.

Topic: National News

14. Indian Newspaper Society has elected M.V. Shreyams Kumar of Mathrubhumi as President for 2024-2025.

• M V Shreyams Kumar of Mathrubhumi has been elected as President of The Indian Newspaper Society (INS).
• Indian Newspaper Society is the apex body of publishers of newspapers, magazines and periodicals in India.
• He will take the place of Rakesh Sharma of Aaj Samaj.
• Vivek Gupta of Sanmarg has been elected the Deputy President and Karan Rajendra Darda of Lokmat as the Vice President.
• Indian Newspaper Society was established in 1939 and its headquarters are located in Rafi Marg, New Delhi.