Daily Current Affairs and GK | 17 October 2024

Topic: Indian Economy

1. India’s trade deficit reached a five-month low of $20.78 billion in September 2024.

• India’s merchandise trade deficit declined to a five-month low of $20.78 billion in September.

• The trade deficit has declined from $29.65 billion in August to $20.78 billion in September.
• Merchandise exports rose marginally to $34.58 billion in September from $34.41 billion in the year-ago period.
• Merchandise imports stood at $55.36 billion in September as compared to $54.49 billion in the last year.
• Services exports rose to $30.61 billion in September from $28.42 billion in the same period last year.
• Services exports stood at $30.69 billion in August, $28.43 billion in July, and $30.27 billion in June.
• The WTO expects trade volumes to grow by 2.6% in 2024 and 3.3% in 2025.
• The US, the UAE, the Netherlands, the UK and China were India’s major export destinations.

Topic: National Appointments

2. CJI Chandrachud nominates Justice Khanna as his successor.

• Justice Sanjiv Khanna will become the 51st Chief Justice of India.
• He will serve a tenure of six months, ending on May 13, 2025, before his retirement.
• Justice Sanjiv Khanna is the second-most senior judge of the Supreme Court.
• DY Chandrachud will retire on November 8 after completing a two-year term.
• He started his legal career at the Tis Hazari district courts.
• In 2005, Justice Khanna was elevated to the position of additional judge at the Delhi High Court.
• He is one of the few judges of the Supreme Court who hasn’t served as Chief Justice of any High Court.
• Justice Sanjiv Khanna was also part of a five-judge bench that recently declared the electoral bond scheme unconstitutional.

Topic: National Appointment

3. Senior BJP leader Nayab Singh took oath as Chief Minister of Haryana for the second consecutive time on 17 October.

• The swearing-in ceremony was held at the Shalimar Ground in Panchkula.
• On October 16, Mr Singh met Governor Bandaru Dattatreya and staked claim to form a new government in the state after being elected leader of the BJP legislature party.
• Haryana Governor Dattatreya administered the oath of office and secrecy to Mr Singh.
• In the recently held Haryana Assembly elections on 5 October, the BJP won 48 out of 90 assembly seats and secured its third consecutive term in the state.

Topic: Summit/Conference/Meeting

4. On 16 October, the first ASEAN-India Track 1 Cyber ​​Policy Dialogue held in Singapore.

• The dialogue was co-chaired by Amit A. Shukla, Joint Secretary, Cyber ​​Diplomacy Division, Ministry of External Affairs.
• During the dialogue, the two sides exchanged views on the cyber threat landscape, national cyber policies, threat assessments and recent developments in the ICT domain at the United Nations.
• The Dialogue considered the possibility of cooperation in capacity building and training to identify specific areas of activities.
• It contributed to strengthening the ASEAN-India Comprehensive Strategic Partnership through the implementation of the ASEAN-India Joint Statement on Advancing Digital Transformation issued during the ASEAN-India Summit on 10 October.

Topic: Summit/Conference/Meeting

5. A two-day International Methanol Seminar and Expo 2024 is being organized by NITI Aayog in New Delhi from October 17.

• The event is being organised in collaboration with the Methanol Institute of the United States.
• The event will highlight the progress of projects, products and R&D initiatives related to methanol production, applications and associated technological developments across the world.
• The main focus of the seminar will be to highlight the role of methanol in the global energy transition and the emergence of methanol as a low-carbon fuel in green shipping.
• Methanol is a versatile fuel that can be produced from a wide range of domestic feedstocks, including biomass, coal, and renewable sources.
• It is one of the cleanest fuels and is cheaper than fossil fuels.

(Source: News on AIR)

Topic: Important Days

6. Valmiki Jayanti 2024 or Pragat Diwas: 17 October

• Valmiki Jayanti is celebrated on the full moon day of Ashwin month according to the Hindu calendar.
• This year, Valmiki Jayanti celebrated across the country on 17th October.
• This day is an important Hindu festival celebrated as the birth anniversary of Maharshi Valmiki, a revered scholar and sage.
• Maharishi Valmiki is known for composing the Ramayana, one of the most important epics of Hinduism, which consists of 24,000 verses and seven sections.
• Maharishi Valmiki is also known as the ‘Adi Kavi’ or the first poet of the Sanskrit language.
• Members of the Valmiki sect also worship him as a messenger of God and celebrate Pargat Divas with great reverence.
• On this occasion a procession called Shobha Yatra is also taken out.

Topic: Summits/ Conferences/ Meetings

7. International Solar Alliance (ISA) Assembly’s seventh session will be held at Bharat Mandapam in New Delhi from 3^rd November.

• It will be a four-day event. It will continue till 6th of November.
• The ISA Assembly will discuss ISA activities pertaining to energy access, security, and customs, with an emphasis on enabling member nations to embrace solar energy and raising funds to expedite the implementation of solar power.
• The ISA Assembly will bring together global leaders to encourage the broad use of solar energy.
• Union Minister of New and Renewable Energy and ISA President Pralhad Joshi stated during a curtain raiser press conference in New Delhi that ISA was founded as a cooperative effort between France and India to combat climate change.

Topic: National News

8. Varanasi-Pt Deen Dayal Upadhyaya (DDU) multi-tracking project has been approved by Union Cabinet.

• The proposed project is worth Rs 2,642 crore. It includes a new rail-cum-road bridge across the Ganga River.
• The proposed project also includes the addition of third and fourth railway lines between Varanasi and DDU Junction route.
• The project passes through the Uttar Pradesh districts of Chandauli and Varanasi.
• In addition to relieving traffic throughout the route, the proposed section is expected to handle 27.83 MTPA (million tonnes per annum) of freight.
• These improvements are meant to boost the socioeconomic development of the area while also increasing capacity and efficiency.

Topic: Environment and Ecology

9. Kaziranga National Park emerged as India's second butterfly diversity hub.

• More than 446 butterfly species have been reported from Kaziranga National Park.
• It has emerged as India's second butterfly diversity hub after the Namdapha National Park in Arunachal Pradesh.
• The first-ever "Butterfly Conservation Meet-2024" was held from September 27 to 29.
• 40 butterfly enthusiasts from across India participated in the event.
• The event was focused on detailed butterfly records and further dissemination of the butterfly status.
• A total of 85 species of butterflies were observed during the meeting.
• This Butterfly Conservation Meet aims was to raise awareness about the importance of butterfly conservation in Kaziranga.

Topic: State News/ Manipur

10. Mera Hou Chongba 2024 has been celebrated in Imphal, Manipur.

• The Mera Hou Chongba 2024 is an annual festival to strengthen the cordial bond between the indigenous communities living in the hills and valleys.
• The State Level Organizing Committee observed the Mera Hou Chongba 2024 festival at Manipur Royal Palace.
• The titular King of Manipur, Leishemba Sanajaoba, who is also a sitting MP (Rajya Sabha) hosted a reception ceremony for the village chief.
• The celebration started with the rituals of Men Tongba and Yenkhong Tamba at Kangla Uttra.
• On this occasion, gifts were exchanged and cultural programs among the indigenous communities were observed.

Topic: National Appointment

11. Partha Sengupta will be appointed as Bandhan Bank MD, CEO for 3 years.

• The appointment of former Indian Overseas Bank MD, CEO Partha Pratim Sengupta as MD, CEO of Bandhan Bank approved by the Reserve Bank of India (RBI).
• His appointment has been approved for a term of three years from the date of assuming charge.
• He has nearly four decades of experience in the banking industry.
• The proposal for appointment of Sengupta will now be placed before the nomination and remuneration committee and the board for consideration and approval.
• Sengupta will replace interim CEO Ratan Kumar Kesh.
• Ratan Kumar Kesh was appointed interim MD and CEO following the retirement of Chandrashekhar Ghosh on 9 July 2024.

Topic: Government Schemes and Initiatives

12. The National Electricity Plan was unveiled by the government to meet India's growing energy needs.

• On October 14, the National Electricity Plan (Transmission) unveiled by Union Power Minister Manohar Lal Khattar to meet the growing energy demand of the Indian economy.
• The plan has been prepared by the Central Electricity Authority (CEA).
• It aims to install 500 GW of renewable energy capacity by 2030 and reach over 600 GW of installed renewable energy capacity by 2032.
• Unveiling the plan, the minister said, "We estimate that our power demand will reach 708 GW by 2047 and to meet this, we need to increase our capacity four times to 2,100 GW."
• The plan outlines several major initiatives aimed at moving India towards a green and clean economy.
• These include integrating 10 GW of offshore wind farms, 47 GW of battery energy storage systems, and 30 GW of pumped storage plants.
• The government plans to add about 190,000 circuit kilometres of transmission lines and 1,270 GVA of transformation capacity over the next decade.
• This initiative is expected to attract investments worth about ₹9 lakh crore in the transmission sector.

Topic: National News

13. Cabinet approves MSP for rabi crops for the 2025-26 season.

• The Union Cabinet has approved new Minimum Support Prices (MSP) for Rabi crops for the upcoming marketing season 2025-26.
• This decision has been taken to ensure better income for farmers and to promote the cultivation of key crops during the Rabi season.
• The MSP for wheat has been increased by Rs 150 per quintal. This brings the new price to Rs 2,425 per quintal.
• For mustard, the MSP has been raised by Rs 300. Its price has increased from Rs 5,650 to Rs 5,950 per quintal.
• Mustard is widely grown in states like Rajasthan, Haryana, and Madhya Pradesh.
• For gram, safflower and barley, there is an increase of Rs 210 per quintal, Rs140 per quintal and Rs130 per quintal respectively.
• The expected margin over all-India weighted average cost of production is 105% for wheat, followed by 98 for rapeseed & mustard.
• This increased MSP of rabi crops will ensure remunerative prices to the farmers.

Topic: State News/ Andhra Pradesh

14. Union Minister Shri Jayant Chaudhary Inaugurated the National Skill Training Institute Extension Centre at Visakhapatnam.

• A new National Skill Training Institute (NSTI) extension centre at the Andhra Medical Tech Zone (AMTZ) campus has been inaugurated in Visakhapatnam.
• This is part of the government’s commitment to create more avenues for skill training and expanding employment opportunities for the youth of Andhra Pradesh.
• The extension centre will provide training in Computer Software Applications (CSA) under the Crafts Instructor Training Scheme (CITS) for the 2024-25 academic session.
• It will also provide short-term courses on various applications of computers, under the Advanced Vocational Training scheme, implemented by the Directorate General of Training (DGT).
• The establishment of the NSTI extension centre marks a significant step in supporting economic growth and boosting workforce employability.