Daily Current Affairs and GK | 2 August 2024

Topic: Indian Economy

1. India's April-June fiscal deficit stood at Rs 1.36 lakh crore.

• For the first quarter of this fiscal, India's fiscal deficit stood at 1.36 lakh crore rupees, or 8.1% of annual estimates.
• The total receipts stood at 8.34 lakh crore rupees, while overall expenditure in April to June was at 9.70 lakh crore rupees.
• Total receipts in the year-earlier period was at 22.1% of the estimate while expenditure narrowed from 23.3% a year earlier.
• The Revenue receipts stood at about 8.30 lakh crore rupees, which tax revenue was nearly 5.50 lakh crore rupees and non-tax revenue was 2.80 lakh crore rupees.
• Tax and non-tax revenues were 21.1% and 70.1% of the budgeted estimate.
• In the last fiscal year, tax revenue was wider than 18.6% of the budget.

Topic: Sports

2. Lieutenant Colonel Kabilan Sai Ashok became India’s youngest Olympic referee in boxing.

• At the Paris Olympics 2024, Lieutenant Colonel Kabilan Sai Ashok became India’s youngest Olympic referee in boxing.
• Lt Col Ashok’s participation as an Olympic referee shows his strong commitment to fair play and sportsmanship.
• His role is crucial in ensuring that matches are conducted with fairness and respect.
• India's boxing contingent for the 2024 Paris Olympics consists of six pugilists, with two male and four female athletes.

Topic: MoUs/Agreements

3. On August 1, nine agreements were signed by India and Vietnam.

• The agreement were signed to deepen comprehensive strategic partnership and enhance cooperation in the fields of customs, agriculture, law, radio and television broadcasting, culture and tourism.
• Vietnam Prime Minister Pham Minh Chinh was on a state visit to India where he held talks with Prime Minister Narendra Modi in New Delhi.
• The two leaders agreed to further deepen India-Vietnam relations by enhancing economic, strategic and cultural ties.
• Vietnam is a fast growing economy and India-Vietnam bilateral trade has reached US$15 billion and both countries are focusing on increasing bilateral trade.
• The two countries agreed on an action plan for the implementation of the Comprehensive Strategic Partnership during 2024-2028.
• On August 1, the MoU between Central Agricultural University, Manipur and Vietnam Academy of Agricultural Sciences, Hanoi for cooperation in agricultural research and education was signed.
• A MoU was also signed between Prasar Bharati, New Delhi and Voice of Vietnam, Hanoi for cooperation on radio and television.
• Two-dollar credit line agreements between the two countries amounting to 300 million US dollars were also finalized.

(Source: News on AIR)

Topic: Corporate and Company

4. Merger of Mangalore Chemicals & Fertilizers with Paradeep Phosphates approved by CCI.

• On July 30, the Competition Commission of India said it has approved the proposed merger of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Ltd.
• Mangalore Chemicals & Fertilizers Limited (MCFL) is a company under the Adventz Group and is engaged in the production and marketing of complex phosphatic fertilizers.
• Zuari Agro Chemicals Ltd. holds 54.03% stake in the company.
• Further, the CCI approved the proposed acquisition of 3,92,06,000 equity shares of MCFL by Zuari Maroc Phosphates Private Limited (ZMPPL) from Zuari Agro Chemicals Limited (ZACL).
• ZMPPL is a 50:50 joint venture between ZACL, a company belonging to the Adventz Group, and OCP SA (OCP).

Topic: State News/ Karnataka

5. Ramanagara district has been renamed as Bengaluru South by the Karnataka Government.

• Chief Minister Siddaramaiah presided over a Cabinet meeting where the decision was made.
• In October 2023, Deputy Chief Minister D.K. Shivakumar had first proposed the move and he is also the minister-in-charge of Ramanagara.
• The move was aimed at helping Ramnagar residents reap the benefits associated with Bengaluru's prestige.
• In 2007, Ramanagara district was created by splitting it from Bangalore Rural district.
• The district comprised the taluks of Ramanagara, Channapatna, Harohalli, Kanakapura and Magadi. There are total 31 districts in Karnataka.

Topic: MoUs/Agreements

6. Ministry of Defence (MoD) signed an MoU to establish three testing facilities under the Uttar Pradesh Defence Industrial Corridor (UPDIC).

• As part of the MoU, one facility will be set up in Lucknow in the Mechanical & Material (M&M) domain.
• Under the MoU, two facilities will be set up in Kanpur - one each in Unmanned Aerial System (UAS) and Communications domains.
• For the M&M facility, MIDHANI is the lead SPV member.
• Hindustan Aeronautics Limited is the lead SPV member for the UAS testing facilities.
• Bharat Electronics Limited is the lead SPV members for Communications testing facilities.
• Senior officials of MoD and Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) exchanged the MoU under the DTIS.
• Raksha Mantri Shri Rajnath Singh launched the Defence Testing Infrastructure Scheme (DTIS) in May 2020.
• DTIS was launched with an outlay of Rs 400 crore. It was launched to establish testing facilities in collaboration with the state and federal governments as well as the private sector.
• The DTIS provides up to 75% government funding as ‘Grant-in-Aid’. Remaining 25% funded by the Special Purpose Vehicle (SPVs).
• The State/Central Governments and private companies in India make up the SPV.
• Seven testing facilities were approved to provide impetus to the defence and aerospace sectors within the Defence Industrial Corridors.
• Out of the seven facilities, four were in Tamil Nadu and three were in Uttar Pradesh.
• On July 02, 2024, an agreement was signed to establish three facilities in Chennai, under the Tamil Nadu Defence Industrial Corridor, in the fields of UAS, Electronic Warfare, and Electro Optics.

Topic: Reports and Indices/Ranking

7. India is ranked 39th in Travel & Tourism Development Index 2024.

• According to Travel and Tourism Development Index 2024 report, India is ranked 39th among 119 countries.
• Travel and Tourism Development Index 2024 report was published by the World Economic Forum.
• As per the UN Tourism (UNWTO until 2023) barometer for May 2024, there were 975 million international tourist arrivals around the world in 2022.
• India recorded 14.3 million international tourist arrivals. This represented 1.47% of the international inbound tourism market share.
• The share of India’s international tourist arrivals in Asia and the Pacific was 15.66% in 2022.
• Minister of Tourism, Gajendra Singh Shekhawat said that India’s scores have improved in three areas.
• These areas were prioritisation of travel and tourism, safety and security, and health and hygiene.

Topic: Indian Polity

8. Supreme Court ruled that state governments have the power to sub-classify SCs, and STs for the reservation.

• A seven-judge bench of the Supreme Court led by Chief Justice DY Chandrachud gave this verdict.
• The court emphasised that state governments have the power to sub-classify SCs, and STs for the reservation but it should be on sufficient data demonstrating inadequate representation and differing levels of social backwardness.
• The Supreme Court overruled a 2004 verdict by a five-judge Bench, which held that such sub-classification was not permissible since the SC/STs constituted “homogenous” classes.
• In 1975, the Punjab government issued a circular dividing its 25% SC reservation into two categories.
• It is one of the earliest instances of existing reservations being ‘sub-classified’ by a State.
• Article 14 of the Constitution permits the sub-classification of a class that is not similarly situated for the law.
• The court clarified that sub-classification would not violate Article 341(2) as long as it doesn’t provide exclusive benefits to certain castes.

Topic: Awards and Prizes

9. KIIT DU received the prestigious UN ECOSOC Special Consultative Status.

• KIIT has received the distinguished Special Consultative Status from the United Nations Economic and Social Council (UN ECOSOC).
• It recognizes the University's substantial contributions to the Sustainable Development Goals (SDGs).
• 476 applications from 19 organizations were selected for this prestigious honour.
• The status was conferred during the UN ECOSOC management segment meeting.
• KIIT has also signed an MoU with UN Volunteers (UNV). It has opened a remarkable opportunity for students of KIIT DU to engage with various UN agencies to serve as 'National University UN Volunteers’.
• It will equip KIIT students with valuable professional experience in international development.

Topic: Sports

10. Swapnil Kusale won a bronze medal at 50-metre rifle 3-position shooting.

• At the ongoing Paris Olympics in 2024, shooter Swapnil Kusale won a bronze medal, bringing India its third medal.
• In the men's 50m rifle 3 positions final, he finished third with 451.4 points, which was held at the National Shooting Center in Châteauroux on August 1.
• He scored 156.8 in the prone and 153.3 in the kneeling position before scoring 195 in the standing position.
• With this feat, Swapnil has created history as the first Indian shooter to win an Olympic medal in the men's 50m rifle 3 positions event.
• China's Y.K. Liu won the gold medal with 463.6 points, while Ukraine's S. Kulish won the silver medal with 461.3 points.

(Source: News on AIR)

Topic: National Appointments

11. On July 30, 2024, Sanjay Shukla officially assumed the position of managing director (MD) at the National Housing Bank.

• Shukla is a seasoned Chartered Accountant with over three decades of experience in housing and retail asset finance.
• He has a distinguished history of leading and transforming financial institutions.
• Prior to joining NHB, Shukla was the founder, managing director, and chief executive officer (CEO) of Centrum Housing Finance Limited (CHFL) since October 2016.
• In 1991, he started his career as an officer at LIC Housing Finance Limited.

Topic: Summits/ Conferences/ Meetings

12. ‘State Museum Conclave on the upcoming Yuga Yugeen Bharat Museum’ has been inaugurated.

• Minister for Culture and Tourism Gajendra Singh Shekhawat inaugurated the conclave at Bharat Mandapam in New Delhi.
• It is a three-day conclave. Its goal is to increase stakeholder discussion on various aspects of the upcoming museum.
• Speaking about the Yuga Yugeen Bharat Museum, Mr. Shekhawat said that India is working to develop the largest museum in the world.
• The conclave is being attended by over 150 stakeholders, 80 of whom are representatives of state museums and universities nationwide.
• The Central Vista Redevelopment Project in New Delhi will include the development of the Yuga Yugeen Bharat Museum.
• The museum will be the biggest in the world, spread over one lakh fifty-four thousand square meters.

Topic: National Appointments

13. Lt Gen Sadhna Saxena Nair has become the first woman to be appointed as Director General Medical Services (Army).

• Lt Gen Sadhna Saxena Nair assumed the office on August 01, 2024.
• Earlier, she was the first woman to hold the post of DG Hospital Services (Armed Forces).
• Lt Gen Nair graduated from the Armed Forces Medical College, Pune.
• She is also the first woman Principal Medical Officer of Western Air Command, and Training Command, Indian Air Force (IAF).
• She was nominated as an expert member of Dr Kasturirangan Committee.
• This committee was for drafting part of the medical education component of the National Education Policy.

(Source: PIB)