Daily Current Affairs and GK | 11 March 2022

Topic: Reports and Indices/Ranking

1. India has been kept on 93^rd rank in the Liberal Democracy Index (LDI) of V-Dem Institute.

• V-Dem Institute of Sweden has released its latest report titled ‘Democracy Report 2022: Autocratisation Changing Nature’.
• Sweden topped the Liberal Democracy Index (LDI) while Denmark, Norway, Costa Rica and New Zealand are among the top five.
• India has slipped to the 100th position in the Electoral Democracy Index and has got 102nd rank in the Deliberative Component Index.
• In this report, countries are categorized into four regimes based on their score in V-Dem’s liberal democracy index (LDI).
• According to this report, a new wave of democratisation is being seen in 15 countries while autocrasation was found in 32 countries.
• As per this report, India has been classified as ‘Electoral Autocrcacy’. India’s level of liberal democracy has been registered at 0.34 in 2020.
• Globally the level of democracy has reduced to the 1989 levels. Autocratisation has “worsened” in India, Afghanistan, Bangladesh, Thailand, and the Philippines.
• At present, the world has 89 democracies and 90 autocracies countries.

Topic: Art and Culture

2. Sahityotsav has been inaugurated by Minister of State for Culture, Arjun Ram Meghwal on 10 March 2022.

• Sahityotsav commenced on 10 March 2022 in New Delhi. It is the Festival of Letters of Sahitya Akademi. 
• The Festival of Letters 2022 is being celebrated as a part of celebrations to commemorate the 75th anniversary of India's independence.
• 26 young writers representing 24 Indian languages recognized by Akademi participated in “The Rise of Young India” event.
• “Tribal Writers’ Meet” has been held on 11th March 2022. Akhone Asgar Ali Basharat, eminent Balti poet inaugurated it.
• Sahitya Akademi Awards has been presented to the 24 Award winners on 11th March 2022.
• Dr Bhalchandra Nemade, eminent Marathi poet and critic was the Chief Guest at the Award Presentation Ceremony.
• A symposium on “Evolution of Plays in India since 1947” will be inaugurated by Sri Bhanu Bharti, eminent theatre personality.
• 3-day National seminar on “Impact of Literature on Indian Independence Movement” will start on 13th March 2022.
• On the same day, Dr Chandrashekhar Kambar, President of Sahitya Akademi, will confer Sahitya Akademi Fellowship to Jagadguru Ramanandacharya Swami Rambhadracharya.
• Sahitya Akademi Fellowship is the highest literary honour in India.

(Source: PIB)

Topic: State News/Madhya Pradesh

3. Madhya Pradesh government has presented a Budget of Rs 2,79,237 crore on 09 March 2022.

• In the state budget 2022-23, no new tax has been announced and there is no change in existing ones.
• This announcement was made by Madhya Pradesh Finance Minister Jagdish Dewda in his second Budget speech.
• The budget laid emphasis on rural housing and employment generation.
• The budgetary allocation to self-help groups and Rural Development department has been increased by 141% and 74%, respectively.
• The budgetary allocation to the Panchayat department has been increased by 36%.
• Madhya Pradesh Finance Minister Dewda has promised 10 lakh homes under PM Aawas Yojana in current fiscal year.
• He proposed to cut the budget of Urban Development and Housing department by 1%.
• The allocation of Rs 370 crore for a statue of Adi Shankaracharya and Advaita Vedanta Monastery in Omkareshwar, in Khandwa district has also been announced.
• Madhya Pradesh Finance Minister said expansion work for Mahakal Temple is being carried out at a cost of over Rs 700 crore.
• He also announced 13,000 teachers will be recruited in 2022-23. 
• State government has for the first time presented a 'child budget' as part of the annual financial plan, allocating Rs 57,800 crore for 220 schemes.
• Finance Minister said the estimated fiscal deficit was Rs 52,511 crore. This is 4.56% of Gross State Domestic Product (GSDP).

Topic: Sports

4. Indian pacer S Sreesanth has announced retirement from all forms of domestic cricket.

• He announced on Twitter that he is retiring from Indian domestic (first class and all formats) cricket.
• He played 27 Tests and 53 ODIs for India and took 87 and 75 wickets respectively in them.
• He has also taken seven wickets in 10 T20 Internationals.
• BCCI had banned him in August 2013. His life ban for alleged spot-fixing in the 2013 edition of the IPL was later reduced to seven years.
• S Sreesanth hail from Kerala. Sree and Gopu are his nicknames. He is first Kerala Ranji player to have played Twenty20 cricket for India.

Topic: Important Days

5. International Day of Women Judges 2022: 10 March

• On March 10 this year, the International Day of Women Judges was commemorated for the first time.
• On April 28, 2021, the United Nations General Assembly passed a resolution declaring the 10th of March as the "International Day of Women Judges."
• The aim of the day is to recognize the efforts and achievements of women judges and also empower young women and girls who want to be judges or community leaders.
• On the first International Day of Women Judges, the United Nations Office on Drugs and Crime (UNODC) launched a new initiative, "Women in Justice/for Justice" to promote representation and gender-responsive criminal justice.
• The Supreme Court observed the first-ever "International Day of Women Judges," which was organised by the Supreme Court Registry.

Topic: State News / West Bengal

6. Government of India, the Government of West Bengal, and the World Bank have signed an IBRD loan agreement for $125 million.

• The agreement has been signed to support initiatives in West Bengal to enable poor and vulnerable groups to gain access to social protection services.
• More than 400 initiatives in West Bengal provide social assistance, health care, and jobs.
• The majority of these services are provided via an umbrella platform named Jai Bangla.
• These measures will be supported at the state level by the West Bengal Building State Capability for Inclusive Social Protection Project.
• According to a recent survey, poor and vulnerable households have limited access to cash transfers, while elderly, widowed, and disabled people have limited access to social pensions due to the lengthy application process.
• During the next four years, the project will aid the state's ability to extend coverage, access to social assistance, and the distribution of cash transfers to the poor and vulnerable through a consolidated social register.
• West Bengal:
  • It is a state in eastern India. It is located between the Himalayas and the Bay of Bengal.
  • It shares its boundary with three Countries-Bangladesh, Nepal, and Bhutan.
  • The Chief Minister of West Bengal is Mamta Banerjee, and the Governor is Jagdeep Dhankhar.
  • Kolkata is the capital of West Bengal.

Topic: National News

7. Results of assembly elections in five states have been declared on 10 March 2022.

• Bharatiya Janata Party has won assembly elections in four states.
• These four states are Uttar Pradesh, Uttarakhand, Goa and Manipur.
• Aam Aadmi Party has won Punjab assembly election by securing 92 seats in 117-member Assembly.
• In Uttar Pradesh, Bharatiya Janata Party has got a historic second successive term in office.
• Bharatiya Janata Party has got a majority by winning 255 seats in 403-member Assembly of Uttar Pradesh.
• In Uttarakhand, the BJP secured 47 seats in 70-member Assembly.
• BJP has won 20 seats in the 40-member Goa Assembly. It won 32 seats in 60-member Assembly of Manipur.

Topic: Economy/Banking/Finance

8. RBI will regulate and supervise NaBFID as an All India Financial Institution (AIFI).

• RBI said that NaBFID will be regulated and supervised as an AIFI under Sections 45L and 45N of RBI Act 1934.
• NaBFID will be the fifth AIFI after EXIM Bank, NABARD, NHB and SIDBI.
• On March 28, 2021, President gave assent to National Bank for Financing Infrastructure and Development (NaBFID) Act, 2021.The act became effective from April19, 2021. 
• Accordingly, National Bank for Financing Infrastructure and Development (NaBFID) was set up in the form of Development Financial Institution (DFI).
• It was set up to support in the development of long-term infrastructure financing in India.
• In October 2021, K.V. Kamath was appointed as National Bank for Financing Infrastructure and Development (NaBFID) chairperson for three years.

Topic: MoUs/Agreements

9. Bureau of Indian Standards signed MoU with IIT Roorkee for establishing ‘BIS Standardization Chair Professor’.

• It will be the first Standardization Chair established by BIS in an Institute for Standardization and Conformity Assessment activities.
• It will help in the research & development, teaching and training in the field of Standardization and Conformity Assessment in the country.
• It will focus on the areas of civil, electrical, mechanical, chemical, earthquake engineering, development, and management of water resources.
• It will also encourage innovation and help students in preparing for their future professional challenges.
• Bureau of Indian Standards (BIS):
  • It is a statutory body that was established by the Bureau of Indian Standards Act, 2016.
  • It is an Indian national standard body that works under the aegis of the Ministry of Consumer Affairs, Food and Public Distribution.
  • Its headquarters is in New Delhi.
  • Pramod Kumar Tiwari is the Director-General of the Bureau of Indian Standards.

Topic: Government Schemes and Initiatives

10. Government launched MSME Innovative Scheme (Incubation, Design and IPR) and MSME IDEA HACKATHON 2022.

• MSME Innovation Scheme will promote creativity in the MSME sector. It will act as a hub for innovation activities.
• It will also promote the adoption of latest technologies in MSMEs and provide financial assistance of up to Rs 15 lakh per idea and 1 crore for the plant and machine.
• It will also help in providing expert advice and cost-effective solution of the design of the new product. Financial grant up to Rs 40 lakh will be given for the design product.
• It also aims to improve the IP culture in India and increase awareness about Intellectual Property Rights (IPRs) amongst the MSMEs.
• This scheme will also help in taking suitable measures for the protection of ideas, technological innovation and knowledge-driven business strategies for the commercialization of IPR through IP Facilitation Centre.
• The Government will also provide financial assistance up to Rs 5 lakh for Foreign patents and 1 Lakh for Domestic Patent.
• These schemes will help entrepreneurs in developing new ventures.

(Source: PIB)

Topic: MoUs/Agreements

11. Australian Army Research Centre (AARC) and Centre for Land Warfare Studies (CLAWS), India inked an MoU.

• Australian Army Research Centre (AARC) and Centre for Land Warfare Studies (CLAWS) signed an agreement to establish academic cooperation and engagement.
• The Chief of the Australian Army Lt Gen Richard Burr is on a three-day visit to India from 08 March 2022.
• The Centre for Land Warfare Studies (CLAWS) is a think tank of the Indian Army.
• India–Australia defense relations include regular military exercises, professional exchanges, and defense technology cooperation.

(Source: News on AIR)

Topic: Banking System

12. SEBI increased Unified Payments Interface (UPI) limit for investing in debt securities.

• SEBI has increased the limit of UPI payment for purchase of public issue of securities. Now retail investors will be able to invest Rs 5 lakh instead of Rs 2 lakh.
• The limit has been increased to bring uniformity in requirements and for ease of investment for investors.
• The new framework issued by SEBI will be applicable for public issues of debt securities opened on or after May 1, 2022.
• Now, investors will be able to block funds through UPI for application value of up to Rs 5 lakh per application.
• In December 2021, the per transaction limit in UPI was increased from Rs 2 lakh to Rs 5 lakh for UPI-based Application Supported by Blocked Amount (ASBA) Initial Public Offer (IPO).
• UPI is an instant payment system. It has been developed by NPCI.

Topic: State News/ Gujarat

13. Pal-Dadhvav massacre completed 100 years.

• It took place on 7 March, 1922 in the Pal-Chitariya and Dadhvav villages of Sabarkantha district.
• As part of the ‘Eki movement’, villagers from Pal, Dadhvav, and Chitariya were gathered to protest against the land revenue tax (lagaan) imposed by the British and feudal lords.
• ‘Eki movement’ was led by Motilal Tejawat. He had been outlawed by the Udaipur state.
• On command from Tejawat, nearly 2000 Bhils were protesting and saying that they will not pay tax.
• Mewad Bhil Corps (MBC) commanding officer ordered his men to fire upon tribals.
• According to the British government 22 people were killed but Bhils claim that more than 1200 were killed at this masscare.
• In 2003, Gujarat Government had built a memorial of Motilal Tejawat on the massacre site.

Topic: Personality in News

14. Aarushie Verma will represent India at 2041 Climate Force Antarctica Expedition.

• The 2041 Climate Force Antarctica Expedition will be organized in March 2022.
• This expedition will raise awareness about the preservation of Antarctica. They will also promote recycling, renewable energy, and sustainability solutions for combating against climate change.
• 2041 Climate Force is a global initiative to train and develop the next generation of sustainability champions.
• Scientists, leaders and practitioners from different corners of the world will participate in this expedition.
• This expedition will reach to south pole by travelling 12 days by ship. This expedition also includes a ‘Leadership on the edge’ program.
• The main objective of this mission is to promote the use of renewable energy around the world.