Daily Current Affairs and GK | 25 and 26 December 2024

Topic: Indian Economy

1. India with an inflow of $129 billion emerged as the topmost recipient of remittances in 2024.

• India received the highest remittances in 2024, followed by Mexico, China, Philippines and Pakistan.
•  The growth rate of remittances in 2024 is estimated to be 5.8 per cent as compared to 1.2 per cent registered in 2023.
• The remittances to low-and middle-income countries (LMICs) are expected to reach $685 billion in 2024.
• In the past decade, remittances increased by 57 per cent, while FDI declined by 41 per cent.
• The gap between remittances and Foreign Direct Investment (FDI) is likely to widen further in 2024.
• Remittance flows to South Asia are expected to register the highest increase in 2024.

Topic: International News

2. Aisake Valu Eke became the new Prime Minister of Tonga.

• ‘Aisake Valu Eke, former finance minister, will be the Prime Minister of Tonga till November 2025.
• He has been elected as a new leader by secret ballot in parliament.
• He was first elected to parliament in 2010 and served as minister of finance between 2014 and 2017.
• This South Pacific island nation of 105,000 people will hold its next election in November 2025.
• Siaosi Sovaleni was prime minister from 2021 and handed over his resignation just hours before facing a vote of no confidence led by Eke.
• Tonga had overhauled its constitution after pro-democracy protests in 2006.

Topic: Important Days

3. Veer Bal Diwas 2024: 26 December

• Veer Bal Diwas is observed on 26 December to mark the supreme sacrifice made by the four sons of Guru Gobind Singh and his mother.
• Guru Gobind Singh’s younger sons, Sahibzada Zorawar Singh (9) and Sahibzada Fateh Singh (7), were killed during an attack on Anandpur Sahib by the Mughals.
• They were held captive by the Mughal army and were forced to convert to Islam.
• Guru Gobind Singh’s mother Mata Gujari and his two elder sons, Sahibzaada Ajit Singh (18) and Sahibzaada Jujhar Singh (14), were also killed.
• Veer Bal Diwas is observed in honour of the "Sahibzadas," the four sons of Guru Gobind Singh Ji.
• Fatehgarh Sahib is the name of the location where they were martyred.
• The central government declared 26 December as Veer Bal Diwas in 2022.
• The ‘Pradhan Mantri Rashtriya Bal Puraskar' was presented by the President of India to 17 children (7 boys and 10 girls) from 14 States/Union Territories for exceptional achievement in seven categories.
• On the occasion of 'Veer Bal Diwas', PM Modi launched the 'Suposhit Gram Panchayat Abhiyan'.
• The campaign aims to improve nutritional outcomes and well-being by strengthening the implementation of nutrition services and ensuring active community participation.

(Source: News on AIR)

Topic: Biotechnology and Diseases

4. A 97% reduction in malaria cases achieved by India, with a target of achieving malaria-free status by 2030.

• On 25 December, the Health Ministry said the number of annual malaria cases will drop from 75 million at the time of independence to 2 million by 2023, a reduction of over 97%.
• India moves out of the World Health Organisation's high burden to high impact group in 2024, marking a turning point in its fight against malaria.
• In the year 2023, no cases of malaria were reported in 122 districts of different states.
• India is moving towards becoming a malaria-free nation by setting global standards in the field of public health.
• The government is working with a vision to achieve malaria-free status by 2030.
• This includes comprehensive and multi-pronged strategies such as the National Framework for Malaria Elimination and the National Strategic Plan for Malaria Elimination.

Topic: National Appointment

5. New governors appointed in 5 states by President Draupadi Murmu.

• Former Home Secretary Ajay Kumar Bhalla has been appointed Governor of Manipur.
• The appointment was part of the latest gubernatorial reshuffle conducted by President Droupadi Murmu on 24 December across five states.
• Mizoram Governor Dr. Hari Babu Kambhampati will now be the new Governor of Odisha.
• The development came following the resignation of the present Odisha Governor, Raghubar Das.
• Former Union Minister General Vijay Kumar Singh has been appointed Governor of Mizoram.
• Bihar Governor Rajendra Vishwanath Arlekar has been appointed as the Governor of Kerala.
• He will replace Arif Mohammad Khan, who has been appointed as the Governor of Bihar.

Topic: Government Schemes and Initiatives

6. Rashtraparv Website along with its Mobile App has been launched by Defence Secretary Rajesh Kumar Singh on Dec 25, 2024.

• The website will make it easier to get information on how national events like Independence Day, Republic Day, and Beating Retreat Ceremony are organised.
• The website will make it easier to watch live streaming, buy tickets, and get information on event seating and route maps, among other things.
• The Ministry of Defence has developed the Rashtraparv website and mobile app.
• A system for handling tableaux proposals and historical event data is also available on the Rashtraparv website and mobile app.
• To assist States/UTs, ministries, and departments in creating and completing their tableaus for the Republic Day celebration, the website will host a Tableau Management Portal.
• The Mobile App can be downloaded from Government App Store (M-Seva).

Topic: National Appointments

7. Amitava Chatterjee’s appointment as MD and CEO has been approved by the board of Jammu and Kashmir (J&K) Bank.

• J&K Bank’s board has approved his appointment as managing director (MD) and chief executive officer (CEO) for three years effective from 30 December 2024.
• Amitava Chatterjee is presently deputy managing director, SBI. He has also served as MD&CEO of SBICAPS.
• Jammu & Kashmir Bank is a private sector scheduled commercial bank. It is headquartered in Srinagar, Jammu and Kashmir.

Topic: Indian Economy

8. Government to cut fiscal deficit to 4.5% in FY26.

• The Government will focus on improving quality spending and strengthening social security.
• The government will bring down the fiscal deficit to 4.5 per cent of the GDP in FY26.
• Finance Minister Nirmala Sitharaman will present the Budget for 2025-26 on 1 February.
• Under the Fiscal Responsibility and Budget Management Act, of 2003, the Union Government is committed to following the glide path of fiscal consolidation.
• Gross Tax Revenue (GTR) has been estimated ₹38.40 lakh crore with an implied tax-GDP ratio of 11.8 per cent.
• Total non-debt receipt of the Centre was estimated at about ₹32.07 lakh crore.
• The fiscal deficit was planned to be financed through G-securities and T-Bills and other sources.

Topic: Indian Economy

9. Central government launched 10,000 new PACS.

• Union Cooperation Minister Amit Shah launched 10,000 new multi-purpose Primary Agricultural Cooperative Societies (PACS).
• The government will achieve its target of establishing 2 lakh such societies before the five-year timeline.
• The initiative will be rolled out in two phases. In the first phase, NABARD establishing 32,750 M-PACS.
• NDDB will set up 56,500 dairy cooperatives and NFDB 6,000 fishery cooperatives.
• In the second phase, NABARD will create 45,000 M-PACS, NDDB will establish 46,000 dairy cooperatives and NFDB 5,500 fishery cooperatives. State governments will form about 25,000 new cooperatives.
• Under current norms, a second PACS cannot be established in villages.

Topic: National News

10. The foundation stone of the Ken-Betwa River link project laid by PM Modi on December 25.

• The foundation stone of the Ken-Betwa River linking project, the first initiative under the national river interlinking policy, laid by PM Narendra Modi at Khajuraho in Madhya Pradesh.
• On December 25, PM Modi came to Khajuraho in Chhatarpur district to lay the foundation stone of the project.
• Under this project, drinking water will be provided to about 44 lakh people in 10 districts of Madhya Pradesh and 21 lakh people in Uttar Pradesh, which is estimated to cost Rs 44,605 ​​crore.
• Under this project, around 7.18 lakh farmer families of 2,000 villages will be benefited, which will also generate 103 MW hydropower and 27 MW solar power.
• The Ken-Betwa Link Project is a unique example of cooperation and coordination between the Central Government, Madhya Pradesh, and Uttar Pradesh.
• The project will construct a 77-meter-high and 2.13-kilometer-long Daudhan Dam, along with two tunnels (upper level 1.9 kilometers and lower level 1.1 kilometers), on the Ken River in Panna Tiger Reserve.
• The dam will store 2,853 million cubic meters of water.
• The excess water of the Ken River will be transferred to the Betwa River through a 221 km-long link canal from Daudhan Dam, providing irrigation and drinking water facilities in both states.

Topic: Awards and Prizes

11. 27th SIES Sri Chandrasekarendra Saraswati National Eminence Award presented to Jaishankar for leadership.

• The South Indian Education Society (SIES) awarded External Affairs Minister S. Jaishankar the Sri Chandrasekarendra Saraswathi National Eminence Award for Public Leadership.
• The awards are named after the late Sri Chandrasekharendra Saraswati, the 68th seer of the Kanchi Kamakoti Peetham.
• He led the spiritual awakening at a critical juncture of contemporary history.
• The awards are given in four areas: public leadership, community leadership, human endeavour, science and technology and social leadership, with priority given to spirituality.
• The award carries Rs. 2.5 lakh cash prize, a citation, an ornamental lamp, and a scroll.

Topic: Indian Economy

12. A $500 million loan was signed by the Government of India and Asian Development Bank (ADB) on 20th December 2024.

• This loan has been signed to support green and sustainable infrastructure projects aligned with India’s climate commitments.
• The ADB loan will be extended to the India Infrastructure Finance Company Limited (IIFCL).
• Ms. Juhi Mukherjee Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Country Director Mio Oka for ADB were the signatories to the Financing Environmentally Sustainable Growth in Infrastructure Project.
• IIFCL's institutional capacity to incorporate best practices and green practices into infrastructure projects will be strengthened by the project.
• To evaluate the sustainability rating of the projects, a sustainability unit, environmental sustainability framework, and scoring system will also be devised.

Topic: Important Days

13. Good Governance Day: 25 December

• Good Governance Day, or Sushasan Diwas, is observed every year on 25 December to mark the anniversary of former Prime Minister Atal Bihari Vajpayee.
• This year is commemorated as the 100th birth anniversary of former Prime Minister of India Atal Bihari Vajpayee.
• The centenary celebrations commenced with the inauguration of the Atal Swasthya Mela in Lucknow.
• Atal Smriti Sabhas will be held at different places. Schools and colleges will also hold poetry recitations and other events based on Vajpayee’s works.
• Good Governance Day was started by the Government of India in 2014.
• Atal Bihari Vajpayee was born on December 25, 1924, in Gwalior.
• He served as the Indian Prime Minister thrice - first in 1996 for a term of 13 days, then for 13 months between 1998 and 1999.
• Atal Bihari Vajpayee was honoured with the Bharat Ratna, the country's highest civilian honour, in 2015.