Daily Current Affairs and GK | 24, 25 and 26 March 2024

Topic: Indian Economy

1. S&P Global has increased India’s growth forecast to 6.8% for Fiscal Year 2024-25.

• S&P Global has increased forecast by 40 basis points. It is yet lower than the forecast of 7.6% for the current fiscal.
• The projection made by S&P Global is lower than RBI’s estimate of 7%.
• S&P has not changed its forecast for Fiscal Years 2025-26, 2026-2027 and 2027-2028.
• It has kept growth forecast for Fiscal Year 2025-26 at 6.9%, for Fiscal Year 2026-2027 at 7% and for Fiscal Year 2027-2028 at 7%.
• S&P has projected robust growth for Asian emerging market economies like India, Indonesia, the Philippines, and Vietnam.

Topic: Indian Economy

2. In February 2024, Venezuela became fifth largest crude oil supplier of India.

• Venezuela is the country with the world’s largest proven oil reserves (300 billion barrels).
• In January 2024, India became the largest buyer of crude oil from Venezuela.
• This happened after US removed sanctions on Venezuela for six months starting from 18 October 2023.
• However, the reimposition of US sanctions after April 18 may impact the trade.
• Until 2019, India was third largest buyer of crude oil from Venezuela after the US and China.
• Venezuela contributes only about 4-5% of India’s overall imports.

Topic: National News

3. Saksham App has been launched by the Election Commission of India.

• Saksham App will facilitate easier voting for Persons with Disabilities.
• Election Commission of India has a motto of no voter is left behind.
• The voters with more than 85 years of age and Persons with Disabilities with 40% benchmark disability can vote from home.
• Wheelchairs and volunteers will be made available at every polling station.
• Transport facilities for Persons with Disabilities and Elderly will also be arranged by the Election Commission.
• The Election Commission is also working for schools to have Assured Minimum Facilities (AMF).
• AMF include Drinking Water, Toilets, Signage, a Ramp or Wheelchair, Helpdesk, Voter Facilitation Centre, Sufficient Light and Shed.
• Additionally, polling places run by individuals with disabilities will be available.
• Additionally, there will be Model Polling Stations and Polling Stations run entirely by women.

Topic: Defence

4. On March 23, the Indian Navy concluded its 100-day period of maritime security activities.

• These activities were carried out under Operation Sankalp, starting on December 23.
• During this period, the Indian Navy took on the role of First Responder in 18 situations.
• Three locations were the focus of maritime security activities by the Indian Navy.
• These locations are the East of Somalia, the Arabian Sea, and the Gulf of Aden and its surrounding territories.
• Over the past 100 days, special troops, aircraft, and navy vessels have conducted drills with the goal of "securing the sea."
• Protecting India's interests, fending off maritime threats, and stopping the revival of piracy were all made possible by Operation Sankalp.
• Since December 2023, the Indian Navy has been the main hub for facilitating information exchange in the Indian Ocean Region.

Topic: State News/Madhya Pradesh

5. A fire broke out at the Mahakaleshwar temple's sanctum sanctorum in Ujjain, Madhya Pradesh.

• During Bhasma Aarti, the fire broke out, injuring at least 14 persons.
• MP Chief Minister Mohan Yadav has announced free treatment for injured people and assistance worth one lakh rupees each.
• Mahakaleshwar temple is dedicated to Shiva. It is one of the twelve Jyotirlingas. It is located on the side of the river Shipra.
• The lingam at this temple is known to be swayambhu (born of itself) and deriving Shakti from within itself.
• At the temple, Mahakaleshwar’s idol is dakshinamurti (facing the south).
• The south-facing idol is only found at the Mahakaleshwar among the 12 Jyotirlingas.

Topic: Biotechnology and Diseases

6. A new disease of pea has been discovered by Haryana Agricultural University Scientists.

• A new and potentially devastating disease affecting the pea crop has been identified by scientists from Chaudhary Charan Singh Haryana Agricultural University of Hisar.
• The disease has been named “Witches’ Broom,” which is associated with the pathogen ‘Candidatus Phytoplasma asteris’ (16SrI).
• The new diseases in plants have been recognized by The American Phytopathological Society (APS), USA.
• Scientists have accepted the report of this new disease and published it in their prestigious journal 'Plant Disease' as the first research report.
• Scientists from Haryana Agricultural University are the first scientists in the world to discover this disease.
• Chaudhary Charan Singh Haryana Agricultural University:
• It is a publicly funded agricultural university, which is the biggest agricultural university in Asia.
• The university's name was kept after India's fifth Prime Minister, Chaudhary Charan Singh. It was founded on 2 February 1970.

Topic: Sports

7. Sharath Kamal named as the flag bearer and Mary Kom as the chef de mission at the Paris 2024 Olympics.

• The Indian Olympic Association (IOA) on March 21 announced that top table tennis player Sharath Kamal will be the flag bearer for the Indian team for the upcoming Paris 2024 Olympics.
• Apart from this, Olympic bronze medalist MC Mary Kom has been named as the Chef de Mission for the Summer Games.
• Kamal has won the National Table Tennis Championships a record 10 times and has also won 13 medals in the CWG.
• MC Mary Kom is the first female boxer in boxing history to win six world titles.
• Additionally, Gagan Narang has been appointed head of shooting village operations for the Paris Olympics.
• Narang is a bronze medalist in the 10-meter air rifle event at the 2012 London Olympics.
• The Paris Olympics is scheduled to take place from July 26 to August 11.

Topic: Indian Polity

8. Arvind Kejriwal became the first sitting Chief Minister to get arrested.

• Enforcement Directorate (ED) arrested Delhi Chief Minister Arvind Kejriwal in the liquor policy scam under the Prevention of Money Laundering Act, of 2002.
• Bail under the Prevention of Money Laundering Act, of 2002 is not easy due to its stringent provisions.
• AIADMK chief J Jayalalithaa was the first former CM to get arrested in 1996.
• Prevention of Money Laundering Act, 2002:
  • It was enacted in 2002 and implemented on July 1, 2005.
  • Its main objective is to prevent money laundering.
  • It was amended in 2012 to bring banks, mutual funds, and insurance companies under its purview.
  • All offences under the PMLA are cognizable and non-bailable. It has no provision for anticipatory bail.
  • Under section 45, two more strict conditions for bail were added under PMLA in 2018.
• Delhi liquor policy scam:
  • In 2021, a new excise policy was introduced by the Delhi government to modernize alcohol sales in the city.
  • Enforcement Directorate (ED) blamed that the policy was intentionally designed with loopholes to favour AAP leaders and promote cartel formations.
  • ED alleged that AAP leaders received kickbacks from liquor businesses in exchange for preferential treatment.

Topic: National Appointments

9. MV Rao has been elected as the Chairman of the Indian Banks’ Association (IBA).

• MV Rao, managing director and chief executive officer of Central Bank of India, has been elected as the Chairman of the Indian Banks’ Association (IBA).
• On March 21, the managing committee of the Indian Banks’ Association (IBA) made this decision.
• Madhav Nair will be now the honorary secretary of the association.
• The IBA and bank unions have recently signed the 9th joint note and the final 12th bipartite settlement agreement.
• Indian Banks Association:
  • It is a representative body of Indian banks and financial institutions.
  • It was formed for the development, coordination and strengthening of Indian banking.
  • It is managed by a Managing Committee, which currently consists of a Chairman, 3 Vice-Chairmen, 1 Honorary Secretary and 26 members.

Topic: India and Its Neighbourhood

10. Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital inaugurated in Bhutan.

• Gyaltsuen Jetsun Pema Wangchuck Mother and Child Hospital was inaugurated by Prime Minister Shri Narendra Modi and His Excellency Tshering Tobgay, Prime Minister of Bhutan.
• This state-of-the-art hospital has been built with the assistance of the Government of India in Thimphu.
• The Indian Government has provided assistance in two phases for the development of the 150-bed Gyaltsuen Jetsun Pema Wangchuk Mother and Child Hospital.
• At a cost of Rs 22 crore, the first phase of this hospital was constructed and has been operational since 2019.
• At a cost of Rs 119 crore, the construction of the second phase was started in 2019 under the 12th Five-Year Plan and has now been completed.
• This newly constructed hospital will enhance the quality of maternal and child health services in Bhutan.
• The new hospital will be equipped with state-of-the-art facilities for Pediatrics, Gynecology and Obstetrics, Anaesthesiology, Operation Theatre, Neonatal Intensive Care, and Pediatric Intensive Care.
• This hospital is a shining example of the India-Bhutan partnership in the field of health services.

Topic: Awards and Prizes

11. First "Global Inequality Research Award" presented to Bina Agarwal and James Boyce.

• The World Inequality Lab (WIL) has joined hands with Sciences Po’s Center for Research on Social Inequalities (CRIS) to award the first edition of the Global Inequality Research Award (GiRA).
• The purpose of the award is to honor researchers from all disciplines who have made significant contributions to the understanding of global inequalities.
• The Global Inequality Research Prize will be awarded every two years.
• Economist Bina Agrawal (University of Manchester), is the author of leading work on gender inequalities, environmental governance, ecofeminism, and environmental inequalities.
• Economist James K. Boyce (University of Massachusetts Amherst), is the author of a seminal work on the relationship between social inequality and environmental degradation.
• He has made a major contribution to the structure of the field of environmental political economy.
• GiRA wants to acknowledge leading scholarship in the area of global inequality understood from two major perspectives:
  • First, the perspective of inequality research is being conducted in all corners of the world.
  • Second, the perspective of inequality is a complex phenomenon that requires light from all angles to be fully understood and ultimately mitigated.

Topic: Space and IT

12. Insights into the history of the Milky Way revealed by the Gaia telescope.

• Two streams of stars that helped form our galaxy more than 12 billion years ago have been discovered by the European Space Agency's telescope Gaia.
• Unprecedented insights into the history of our galaxy, the Milky Way, have been gathered by the European Space Agency (ESA).
• ESA's space telescope Gaia detected two ancient streams of stars that swirled together and merged into the Milky Way at the beginning of its existence.
• The researchers were examining data collected by Gaia when they noticed the streams, which they named Shakti and Shiva.
• In Hindu philosophy, Shakti and Shiva are a divine couple whom Hindus believe united to create the universe.
• The stars that make up the two streams in space are 12 to 13 billion years old, and each stream has a mass of about 10 million suns.
• The two streams detected by Gaia are similar but not identical.
• Shakti's stars orbit slightly further from the center of the galaxy and in more circular orbits than Shiva.

Topic: International News

13. Hong Kong has passed a new security law referred to as 'Article 23'.

• On March 19, Hong Kong lawmakers unanimously passed the "Safeguarding National Security Bill".
• It was first presented in the Legislative Council on March 8.
• Article 23 of the Basic Law states that the Hong Kong government must freely make laws to prohibit national security crimes.
• The new rules modify existing rules and penalties.
• It adds five new categories of crimes – treason, insurrection, espionage and theft of state secrets, harming national security, and external interference – some of which carry penalties of imprisonment, even life.
• The domestic security law, which took effect March 23, will "plug the gaps" of a similar security law imposed by Beijing in 2020 in response to mass pro-democracy protests in Hong Kong in 2019.
• The European Union and the United Nations said Hong Kong's new national security bill is extremely worrying and could lead to the end of fundamental freedoms in the China-ruled city.

Topic: Reports and Indices/Rankings

14. On behalf of UN-Water, UNESCO published the United Nations World Water Development Report 2024.

• The report highlights that tensions over water are fueling conflicts around the world.
• To maintain peace, states must promote international cooperation and cross-border agreements.
• Today, 2.2 billion people still live without access to safely managed drinking water, and 3.5 billion lack access to safely managed sanitation, according to a new report published by UNESCO.
• More than 1.4 billion people were affected by drought between 2002 and 2021.
• By 2022, almost half of the world's population faced severe water scarcity for at least part of the year.
• While one-quarter faced 'extremely high' levels of water stress, they were using more than 80% of their annual renewable freshwater supply.
• Worldwide, about 70% of freshwater withdrawals come from agriculture, followed by industry (just under 20%) and domestic (or municipal) use (about 12%).
• Groundwater supplies about 25% of the total water used for irrigation and half of the freshwater is withdrawn for domestic purposes.
• Water stress has significant impacts on social stability, and water scarcity can be linked to a 10% increase in migration worldwide.
• In a study of 258 rivers around the world, concentrations of active pharmaceutical ingredients were found to exceed safe limits in more than a quarter of them.
• Over the period 2002–2021, floods have caused approximately 100,000 deaths (with an additional 8,000 in 2022), which affected another 1.6 billion people (with another 57 million in 2022).
• This caused economic losses of US$832 billion (US$45 billion in 2022).
• Over the same period, drought affected more than 1.4 billion people, killing more than 21,000 and causing economic losses of US$170 billion.