Daily Current Affairs and GK | 14 December 2024

Topic: State News/Himachal Pradesh

1. Six new schemes have been launched by the Himachal Pradesh government.

• Chief Minister Sukhvinder Singh Sukhu launched distributed financial assistance to beneficiaries to mark two years of his government in Himachal Pradesh.
• These initiatives aim to promote natural farming, support small farmers, enhance rural incomes, and improve healthcare access.
• The government also launched the Rajiv Gandhi Natural Farming Start-up scheme. It will integrate 36,000 new farmers under the Rs 680 crore initiative.
• The Himachal Pradesh rolled out a scheme to buy organic compost and vermin compost at `300 per quintal.
• The government also disbursed Rs 1 lakh to 100 farmers via direct benefit transfer (DBT) to strengthen rural incomes.
• The CM also launched the Indira Gandhi Sukh Shiksha Yojana.
• Under this scheme, financial aid will be provided to children’s education, widows, destitute women, divorced women, and parents with disabilities.
• The Himachal Pradesh Subtropical Horticulture, Irrigation, and Value Addition Project (HP Shiva) has been also launched.

Topic: Reports and Indices/Ranking

2. India witnessed a significant rise in women's participation in the labour force.

• The study titled 'Female Labour Force Participation Rate: An Observational Analysis of the Periodic Labour Force Survey' has been released.
• It showed trends in women's involvement in the economy from 2017-18 to 2022-23.
• Rural female LFPR has increased nearly 70 per cent, from 24.6 per cent in 2017-18 to 41.5 per cent in 2022-23.
• States like Jharkhand and Bihar saw huge growth, with rural LFPR rising by 233 per cent in Jharkhand and six times in Bihar.
• Married women in rural areas, particularly in Rajasthan and Jharkhand, showed a significant increase in LFPR.
• Rural Bihar has shown considerable improvement despite the lowest LFPR in the past.
• Punjab and Haryana have persistently low female LFPR.
• Western and Southern India also witnessed growth in rural female LFPR, although urban areas have seen only a modest increase.
• The female LFPR has risen due to several government initiatives, particularly those targeting rural women.

Topic: International News

3. Switzerland will suspend the most favored nation (MFN) clause in DTAA with India.

• It will suspend the MFN clause in its double taxation avoidance agreement (DTAA) with India from 1 January, 2025.
• As a result of this step, the withholding tax rate on dividends paid to Indian tax residents will double from 5% to 10%.
• The decision has come after a Supreme Court ruling of 2023.
• The Supreme Court ruling clarified that the MFN clause is not automatically applicable in case a country joins the Organisation for Economic Co-operation and Development (OECD), especially if a prior tax treaty is in place.
• In tax agreements, the MFN clause ensures equal treatment for all parties involved.
• Nestle, a Swiss company, requested a reimbursement of dividend withholding tax.
• It claimed the benefits of India-Switzerland tax treaty's MFN clause.
• At first, Switzerland thought that the MFN principle should automatically apply.
• But the 2023 Supreme Court decision proved otherwise.
• Supreme Court made it clear that the MFN clause could not be implemented automatically without official notification under Section 90 of the Indian Income Tax Act.
• Swiss authorities reconsidered the unilateral reduction of the withholding tax rate as a result of this clarification.
• Additionally, Switzerland's decision is not likely to affect European Free Trade Association (EFTA) investments into India.

Topic: Agriculture

4. Surasa has been released by Indian Institute of Spices Research.

• Surasa is a new ginger variety. It is a non-pungent variety. It is more palatable when consumed.
• It can yield up to 24.33 tonnes per hectare. It is the first ginger variety in India developed exclusively for use as a vegetable.
• Surasa’s rhizomes are plumpy. They have a whitish yellow core.
• It has low fiber content. It has a dry recovery rate of about 21%.
• It is even ideal for making dry ginger. It is also ideal for growing in polybags.
• Kerala State Varietal Release Committee has approved the cultivation of Surasa in Kerala.

Topic: Personality in News

5. Elon Musk's net worth surpasses $400 billion, making him the first person to do so.

• The first individual to ever surpass that threshold is Musk. The stock of Tesla soared to an all-time high of $420.
• Following Musk's appointment as co-leader of the Department of Government Efficiency, or DOGE, the company's share price has risen 70% so far this year.
• Musk is the owner of X and the founder of SpaceX.
• A self-driving taxi was unveiled by Musk during Tesla's "We, Robot" event.
• Musk also demonstrated Optimus, the company's humanoid robot.
• Tesla, SpaceX, and xAI are among the seven businesses that Elon Musk co-founded.
• Musk also paid $44 billion for Twitter in 2022, rebranding it X.

Topic: Summits/Conferences/Meetings

6. PM Modi chaired the 4th National Conference of Chief Secretaries in New Delhi.

• The goal of the conference is to deepen the relationship between the central government and state governments.
• The conference's main goals are to improve coordination and cooperative federalism in order to accelerate growth and development.
• The Conference is being attended by domain experts, chief secretaries, and senior officials from all States and Union Territories.
• "Promoting Entrepreneurship, Employment and Skilling – Leveraging the Demographic Dividend" is the theme of the fourth National Conference.
• Six areas—manufacturing, services, rural non-farm, urban, renewable energy, and the circular economy—will receive particular attention under this theme.
• The inaugural conference took place in Dharamshala in June 2022.
• The second edition was held in January 2023 and the third edition in December 2023 in New Delhi.

Topic: International Appointments

7. Francois Bayrou has been named as new Prime Minister of France.

• French President Emmanuel Macron appointed him as new Prime Minister of France after a no-confidence vote against the previous government.
• Francois Bayrou is the fourth Prime Minister named in 2024.
• The previous Prime Minister, Michel Barnier, served only three months.
• Michel Barnier became the shortest serving PM in French history.
• Prime Minister of France is the head of government of the French Republic and holds 2nd highest office in France, after president of France.
• In January 2024, Gabriel Attal became the youngest Prime Minister of France.

(Source: News on AIR)

Topic: Summits/ Conferences/ Meetings

8. World Hindu Economic Forum begins in Mumbai.

• Maharashtra Chief Minister Devendra Fadnavis inaugurated the World Hindu Economic Forum in Mumbai for three days.
• Delegates from various fields across the globe are attending this summit.
• This is one of the biggest assemblies of industrialists, businessmen, startups, and entrepreneurs from the Hindu community under one roof.
• The theme of this year's forum is ‘Think in future, for the future’.
• The World Hindu Economic Forum was started in 2012 in Hong Kong. It was organized in Bangkok in 2023.

(Source: News on AIR)

Topic: Summits/ Conferences/ Meetings

9. Inaugural India-Philippines Maritime Dialogue held in Manila, Philippines.

• The inaugural India-Philippines Maritime Dialogue was held in Manila, Philippines.
• Both sides exchanged perspectives on prevailing maritime challenges and discussed ways.
• They discussed ways to enhance maritime cooperation for conducive environment for mutual growth and global well-being.
• They also agreed to share best practices and partner in maritime capacity-building initiatives in areas such as Maritime Industry, Marine Scientific Research, Ocean Economy, etc.
• It was agreed to hold the next round of dialogue in New Delhi in 2025.
• They emphasized adherence to a rules-based order, especially the UN Convention on the Law of the Sea.

Topic: Indian Polity

10. The bill to amend the Disaster Management Act passed by the Lok Sabha.

• On December 12, a bill to strengthen the working of national and state disaster management authorities passed by the Lok Sabha.
• The Centre stressed that the legislation will help state governments deal with disasters better.
• The House approved the Disaster Management (Amendment) Bill, 2024, by voice vote.
• Several amendments moved by opposition members were rejected by the House.
• The bill aims to bring clarity and convergence among stakeholders working in the field of disaster management.
• When a disaster strikes, it affects the entire country, and then this bill will prepare the country to deal with disasters in a better way.

Topic: Important Days

11. National Energy Conservation Day 2024: 14 December

• Every year on December 14, National Energy Conservation Day is celebrated.
• The day is dedicated to raising public awareness about global warming and climate change, as well as encouraging people to save energy.
• National Energy Conservation Day is being celebrated on December 14 since 1991.
• In 2001, the Bureau of Energy Efficiency (BEE) implemented the Energy Conservation Act.
• The Bureau of Energy Efficiency (BEE) organizes the National Energy Conservation Day.
• BEE is a constitutional entity that works under the Government of India and helps in the formulation of energy-saving policies and programs.
• The Bureau of Energy Efficiency (BEE) was established on March 1, 2002, by the Government of India under the provisions of the Energy Conservation Act, 2001.
• National Energy Conservation Awards are presented during the Energy Conservation Day celebrations on 14 December.

Topic: Government Schemes and Initiatives

12. Government will launch Udaan Yatri Cafe at airports.

• The government will launch the Udaan Yatri Cafe for passengers travelling through the UDAN scheme at the airports.
• The cafe will help in resolving the issue of overpriced food and beverages at the airports.
• These café will provide affordable food to the travellers.
• The first pilot project of the cafe will be run at the Kolkata Airport.
• It will be implemented at all other airports under the Airports Authority of India.
• The government also launched the official Centenary Celebrations Logo on the completion of a hundred years of Kolkata’s Netaji Subhash Chandra Bose International Airport.

Topic: Summits/ Conferences/ Meetings

13. 22nd Divya Kala Mela is scheduled to be organized from 12th - 22nd December.

• The Department of Empowerment of Persons with Disabilities (Divyangjan) is organizing the 22nd Divya Kala Mela from 12th - 22nd December 2024 at India Gate.
• Around 100 Divyang entrepreneurs/artisans from 20 states/UTs are participating in this event.
• The Divya Kala Mela is a platform for Divyangjan to showcase their talent and sell their uniquely crafted products.
• In this Mela, Handicrafts, Handlooms, Embroidery Works, Eco-friendly Stationery and Lifestyle Products and Home Décor products will be showcased.
• Since its inception in 2022, the Divya Kala Mela has been successfully organized in 21 cities across India.