Daily Current Affairs and GK | 24, 25 and 26 December 2023

Topic: Government Schemes and Initiatives

1. Ministry Of Power announced reforms in the Carbon Credits Trading Scheme.

• The Ministry of Power has introduced amendments to the Carbon Credits Trading Scheme (CCTS).
• This is a significant step towards establishing India's independent standards for carbon trading.
• The amendments to the Carbon Credit Trading Scheme have the potential to reshape India's carbon credit landscape.
• The amendment introduced an "offset mechanism" to empower non-obligated entities in credit generation.
• The reforms in the Carbon Credits Trading Scheme will strengthen India's carbon credit market.
• This will allow the concerned entities to register projects which will lead to the issuance of Carbon Credit Certificates.
• The non-obligated entities can register their projects to seek issuance of Carbon Credit Certificates.

Topic: National Appointments

2. SEBI approved the appointment of Pramod Agrawal as BSE Chairman.

• Former Coal India chief Pramod Agrawal's appointment as the chairman of the BSE has been approved by the SEBI.
• His appointment will become effective from January 17, 2024.
• The Board of BSE had on December 13 approved the appointment of Pramod Agrawal as the Chairman of the Governing Board.
• He will take the place of SS Mundra, who was appointed as BSE chairman in May 2022.
• Pramod Agrawal has served as the Principal Secretary of the Department of Technical Education, Skill Development & Employment and the Department of Labor, Government of Madhya Pradesh.
• Bombay Stock Exchange (BSE):
  • It is known as the Bombay Stock Exchange (BSE). It is an Indian stock exchange located in Mumbai.
  • It was founded in 1875 by Premchand Roychand, a cotton merchant.
  • It is the oldest stock exchange in Asia and the tenth oldest in the world.

Topic: State News/ Uttar Pradesh

3. India’s first AI city will be built by Uttar Pradesh in Lucknow.

• Uttar Pradesh is taking a step forward in promoting plans to build India's first AI City in Lucknow.
• A report by Grand View Research pegs the global AI market size at $137 billion in 2022 and is projected to expand at a compound annual growth rate of 37.3% from 2023 to 2030.
• Lucknow has centers of excellence in areas such as AI and MedTech (with extensive AI integration).
• The AI CoE (center at IIIT Lucknow) alone supports more than 15 AI/ML start-ups, nurturing a culture of creativity and entrepreneurship.
• The real estate developer will develop a tower with office infrastructure based on plug-and-play infrastructure and Grade A office space for incubators, start-ups, and corporates.
• The government will provide 40 acres of land in the Nadarganj Industrial Area for this project, free from all encumbrances, and support of land acquisition, zoning regulations, and other relevant clearances.
• Financial assistance will be provided to the developer through attractive financial incentives.
• This includes one-time capex support of 25% up to ₹20 crores for IT Parks and ₹100 crores for IT Cities and 100% stamp duty exemption as per the IT and ITES Policy, 2022.

Topic: State News/ Bihar

4. The 'Mission Investigation@75 days' will be launched by the Bihar Police from January 1, 2024.

• Bihar Police has decided to make it mandatory for investigators to complete the investigation of cases within 75 days of the filing of FIR from January 1 next year.
• The performance of all police stations and district police will also be reviewed on a monthly basis from January 1, 2024.
• Bihar government is preparing to take several measures from January 1, 2024, to make the state police more people-friendly and accountable.
• Its main focus is to improve the quality of investigations.
• Bihar Police is also gearing up to bring about an overhaul of the criminal justice system following the gazette notification by the Center of new laws passed to replace the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC), and the Evidence Act.
• Implementation of these three laws requires the creation of additional infrastructure, software updates, and training of available human resources.

Topic: Books and Authors

5. General M M Naravane unveiled his autobiography “Four Stars of Destiny.”

• This book reveals an important moment during the Ladakh standoff in 2020.
• The former Army chief has written in his memoir that the Agneepath plan took the Army by surprise and was a 'sudden blow' to the Navy and Air Force.
• General Naravane was the Army Chief from 31 December 2019 to 30 April 2022.

Topic: Important Days

6. Good Governance Day 2023: 25 December

• Every year on 25 December, India celebrates Good Governance Day.
• Department of Personnel and Training celebrated Good Governance Day on 25th December, 2023.
• On this special occasion, Dr. Jitendra Singh launched 3 new features on the iGOT Karmayogi Platform: My iGOT, Blended Programs, and Curated Programs.
• In 2014, PM Modi declared 25 December as Good Governance Day.
• 25 December is the birth anniversary of former PM Atal Bihari Vajpayee.
• Good Governance Day aims to increase public access to various government programs and services via good governance.
• It started with the slogan “Good Governance through e-Governance.”
• About Atal Bihari Vajpayee:
  • Atal Bihari Vajpayee was born on December 25, 1924, in Gwalior, Madhya Pradesh.
  • He was the first head of state to address the UN in Hindi. He was awarded Bharat Ratna on March 27, 2015.
  • He served as the 10th Prime Minister of India for 13 days in 1996, for 13 months from 1998 to 1999, and a full term from 1999 to 2004.
  • It was during his tenure that India conducted Pokhran-II nuclear tests in 1998.

(Source: News on AIR)

Topic: Defence

7. Indian Navy commissioned INS Imphal in Mumbai on 26 December 2023.

• Raksha Mantri Rajnath Singh graced the commissioning ceremony.
• INS Imphal is the Indian Navy’s latest stealth-guided missile destroyer.
• INS Imphal was delivered to the Indian Navy in October 2023.
• Imphal is the first warship, which has been named after a city from the North East.
• This is a tribute to the sacrifices and contributions of Manipur in India’s freedom struggle.
• INS Imphal is the third ship of the Indian Navy’s Visakhapatnam-class stealth guided missile destroyer.

(Source: News on AIR)

Topic: Government Schemes and Initiatives

8. MedTech Mitra initiative has been launched by Union Health Minister Dr. Mansukh Mandaviya.

• MedTech Mitra is a strategic initiative to empower MedTech innovators and advance healthcare solutions.
• Union Minister Mansukh Mandaviya said it will be a game-changer for the Indian MedTech industry.
• It will facilitate the indigenous development of affordable, quality MedTech devices and diagnostics.
• According to the union minister, India is taking a holistic approach to health with the goal of changing the nation's health system by 2047.
• India’s MedTech sector is highly import-dependent.
• According to Dr. Mandaviya, India will grow to become a $50 billion industry by 2030.

Topic: India and its Neighbours

9. India and Bangladesh agreed to extend the Indo-Bangladesh Protocol route.

• India and Bangladesh have decided to extend the Indo-Bangladesh Protocol (IBP) route.
• They agreed to declare Safardighi in West Bengal as the new port of call under the Protocol on Inland Water Transit & Trade (PIWT&T).
• Both sides agreed to form a technical team immediately to study the inclusion of the Chandpur-Chittagong stretch as an IBP route under PIWT&T.
• They also discussed issues like easing visa issuance, shore-leave facility and repatriation for seafarers.
• They also agreed to examine the inclusion of Payra seaport in the agreement on using Chattogram and Mongla Ports (ACMP) to move goods between the two countries.
• Both countries shared the water routes and coastal routes for transportation of the cargo and passengers on the Indo-Bangladesh Protocol Route and Coastal routes.

Topic: International News

10. Export of rare earth processing technologies has been banned by China.

• China has banned the export of technology to extract and separate strategic metals.
• China's government has decided to add rare earth metal processing technologies to its "Catalogue of Technologies Prohibited and Restricted from Export".
• China also banned the export of production technology for rare earth metals and alloy materials as well as technology to prepare some rare earth magnets.
• Rare earth metals are used to make magnets for use in electric vehicles, wind turbines and other electronics.
• This step has been taken as Europe and the United States are struggling to remove themselves from the rare earth metals industry of China.

Topic: Government Schemes and Initiatives

11. Project PRAYAS has been launched by the International Organization for Migration (IOM) on 21 December.

• The project has been launched to facilitate safe, orderly, and regular migration for Indian workers and students.
• In partnership with the Ministry of External Affairs, the PRAYAS (Promoting Regular & Assisted Migration for Youth and Skilled Professionals) project was launched.
• IOM is a United Nations agency dedicated to promoting humanitarian and orderly migration.
• PRAYAS is one of the first efforts to consolidate all state-level initiatives for safe, orderly, and well-managed international migration.
• IOM aims to develop a roadmap for better coordination between state and central governments.
• It will encourage the sharing of good practices among states and enhance engagement with the Ministry of External Affairs on matters related to the international migration cycle.
• India has already established itself as a major player in international migration dynamics, with over 32 million Indians and people of Indian origin living abroad.
• The International Organization for Migration is based in Geneva. Its Director General is Amy Pope. It was established in 1951.

Topic: Important Days

12. National Consumer Day 2023: 24 December

• Every year on December 24, National Consumer Day, or Bharatiya Grahak Diwas, is celebrated.
• The day aims to spread awareness about consumer rights and the power of the consumer.
• Consumer Protection Bill was passed on 24 December 1986.
• Further amendments were made in 1991, 1993, and 2002 to make the Consumer Protection Act more effective and consumer-friendly.
• In August 2019, Parliament passed the Consumer Protection Act 2019, which replaced the Consumer Protection Act of 1986. The 2019 Act came into force in July 2020.
• World Consumer Rights Day is observed every year on 15 March.
• Consumer Protection Act guarantees six basic rights to consumers:
  • Right to choose the product.
  • Right to be protected from all kinds of hazardous goods.
  • Right to be informed about the performance and quality of all products.
  • Right to be heard in all decision-making processes related to consumer interests.
  • Right to seek redressal, whenever consumer rights have been infringed.
  • Right to complete consumer education.

(Source: News on AIR)

Topic: Summits/ Conferences/ Meetings

13. 8th edition of Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) held from 19 – 22 Dec 23.

• Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) was conducted by the Royal Thai Navy at Bangkok.
• Naval chiefs and senior representatives of 27 member countries and observer countries participated in this conference.
• Admiral R Hari Kumar, Chief of the Naval Staff, represented three members Indian delegation.
• At the conclave, Flag designed by India was selected as the IONS Flag. India also took the co-Chair of IONS Working Groups on Maritime Security and HADR for the forthcoming cycle.
• India will take over the chair of IONS for 2025-27 and the 9^th CoC will held in India in 2025.
• Republic of Korea Navy is welcomed in the Conclave as the latest ‘Observer’.
• On the side-lines of Conclave, the CNS also visited the Indian Naval Ship Kadmatt, at Bangkok.
• Indian Ocean Naval Symposium was started by the Indian Navy in 2008. It is a forum to enhance maritime cooperation among navies of the Indian Ocean Region countries.
• The inaugural edition of IONS was held in Feb 2008 in New Delhi.

(Source: PIB)

Topic: Indian Economy

14. Central government released Rs 72,961 crore to states as tax devolution.

• For financing social welfare measures and infrastructure development schemes, Rs 72,961 crore has been released by the central government as tax devolution to states.
• Out of the ₹72,961.21 crores installment disbursed, the largest share has gone to Uttar Pradesh.
• Uttar Pradesh is followed by Bihar (₹7,338.44 crore), Madhya Pradesh (₹5,727.44 crore) and West Bengal (₹5,488.88 crore).
• Maharashtra’s share is ₹4,608.96 crore, Rajasthan’s share is at ₹4,396.64 crore and Odisha’s at ₹3303.69 crore.
• The remaining States’ share has been lower than ₹3,000 crore.
• The remaining States’ share ranged from ₹281.63 crore (Goa) to ₹2,976.10 crore (Tamil Nadu).
• This installment is in addition to the tax devolution installment Rs 72,961.21 crore released on December 11, 2023.
• The Terms of Reference (ToR) of the 16th Finance Commission has been recently approved by the Union Cabinet.