Daily Current Affairs and GK | 25 and 26 February 2024

Topic: Infrastructure and Energy

1. PM Modi unveiled Indian Railways projects worth Rs 41000 crore.

• On 26 February, PM Modi laid foundation stones and inaugurated around 2,000 railway infrastructure projects worth more than ₹41,000 crore.
• The redevelopment of 553 railway stations under the Amrit Bharat Station Scheme has been started by PM Modi. These railway stations will be redeveloped for Rs 19000 crore.
• These stations will be developed as ‘City Centres’. These stations will have modern passenger amenities such as roof plazas, landscaping, inter modal connectivity, improved modern façades, and kids play areas.
• PM Modi also inaugurated Gomti Nagar station in Uttar Pradesh which has been redeveloped at a total cost of around ₹385 crore.
• He also laid the foundation stone for approximately 1,500 road overpasses and underpasses across various states.
• Amrit Bharat Station Scheme:
  • It was launched to upgrade station facilities with modern infrastructure.
  • Rs 24,470 crore has been allocated by the government for this scheme.
  • 1309 railway stations railway stations will be redeveloped under this scheme.
  • It was launched in February 2023 by the Ministry of Railways.

Topic: National News

2. "Sudarshan Setu", the nation's longest cable-stayed bridge, inaugurated by PM Modi in Gujarat.

• He dedicated to the nation "Sudarshan Setu," the nation's longest signature-stayed bridge, which is approximately 2.32 km long.
• The bridge at Dwarka, Gujarat, connects the mainland of Okha with the island of Beyt Dwarka.
• According to PM Modi, the nation is headed toward becoming the world's fifth-largest economy.
• Sudarshan Setu has footpaths decorated with verses from Srimad Bhagavad Gita and images of Lord Krishna on either side.
• Moreover, solar panels that produce one megawatt of electricity are mounted on the upper portions of the footpath.
• In addition, the PM dedicated to the nation and laid the foundation for projects totaling over 4150 crore rupees.
• The PM also officially inaugurated three rail electrification projects and the Vadinar pipeline project.
• The Regional Science Center in Jamnagar and the widening of the Dhoraji-Jamkandorna-Kalavad portion of NH-927 were among the many projects whose foundation stones were laid by the PM.
• The train electrification projects between Jetalsar and Vansjalia and Rajkot and Okha, Jetalsar and Somnath, and Rajkot were dedicated by the Prime Minister to the nation.
• At the Race Course Ground in Rajkot, Prime Minister Narendra Modi officially opened and laid the foundation stone for projects valued at over 48,100 crore rupees.
• Five new AIIMS were dedicated to the nation by the PM.
• These AIIMS are located at Rajkot (Gujarat), Bathinda (Punjab), Raebareli (Uttar Pradesh), Kalyani (West Bengal) and Mangalagiri (Andhra Pradesh).

Topic: Defence

3. India-Japan joint exercise ‘DHARMA GUARDIAN’ started in Rajasthan.

• It is 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force.
• It started at Rajasthan's Mahajan Field Firing Ranges.
• It is scheduled to be carried out from 25th February to 9th March 2024.
• Each side has forty personnel in their contingent.
• Soldiers from the 34th Infantry Regiment are representing the Japanese side.
• A Rajputana Rifles Battalion is representing the Indian Army contingent.
• The exercise aims to promote military cooperation and improve combined capabilities to carry out joint operations in semi-urban environments under Chapter VII of United Nations Charter.
• Exercise 'DHARMA GUARDIAN’ is an annual exercise. It is conducted alternatively in India and Japan.

Topic: Corporates/Companies

4. RBI has given approval to HDFC Bank for sale of 90% of stake in HDFC Credila.

• HDFC Bank will continue to own 9.99% stake in HDFC Credila.
• HDFC Bank will sell 90% stake in HDFC Credila to a group of private equity investors, including BPEA EQT and ChrysCapital group.
• The sale of HDFC Credila comes after approximately eight months have passed since HDFC and HDFC Bank completed their merger.
• The central bank had requested in April 2023 that HDFC cut its its stake in Credila to less than 10% over the two years.
• Students pursuing higher education in India and abroad can apply for education loans from HDFC Credila. It is HDFC Bank's subsidiary for student loans.

Topic: Summits/Conferences/Meetings

5. On 26 February, the 13th Ministerial Conference (MC13) of the World Trade Organization started in Abu Dhabi, UAE.

• This four-day high-level meeting will bring together the world's trade ministers to evaluate the functioning of the multilateral trading system and chart the future of the WTO.
• Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the UAE is chairing the conference.
• Commerce and Industry Minister Piyush Goyal is leading the Indian delegation.
• Trade ministers from the 164 member countries of the WTO are meeting against the backdrop of an uncertain global economic situation due to the Red Sea crisis, the Ukraine-Russia war, and the Israel-Hamas conflict.
• Ahead of the meeting, the G-33, a coalition of developing countries, of which India is a key member, urged the WTO to take forward agricultural trade talks at the 13th WTO Ministerial Conference.
• They will discuss the lack of progress, particularly regarding food security challenges faced by developing nations.
• The group stressed the urgency of action, citing the Food and Agriculture Organization's estimate of some 600 million people facing long-term hunger by 2030.
• The 13th WTO Ministerial Conference presents an important opportunity for WTO Members to address critical issues in the global trading system, particularly agricultural trade and food security.
• In 1996, the First ministerial conference was held in Singapore.

(Source: News on AIR)

Topic: Sports

6. In the Archery Asia Cup 2024, India concluded the tournament with 14 medals, including nine gold in Baghdad, Iraq on 25 February.

• By defeating compatriot Simranjit Kaur, the three-time Olympian Deepika Kumari won the gold medal in the women's individual recurve category.
• In the men’s individual recurve category, Dheeraj Bommadevara defeated Tarundeep Rai 7-3 to win the archery title in the All India final.
• In all individual events, India secured top podium positions, topping both the men's and women's compound events.
• For the women's gold medal match, Preneet Kaur defeated Iran's Fatemeh Hemmati 138-135, while for the men's title, Prathamesh Javakar defeated teammate Kushal Dalal 146-144.

Topic: Miscellaneous

7. PM Modi inaugurated the Bharat Tex 2024 at Bharat Mandapam in New Delhi.

• Bharat Tex 2024 is considered one of the largest-ever global textile events to be organised in India.
• It is a 4-day long textile event. More than 100 countries are taking part at the event.
• It will feature more than 65 knowledge sessions. Over 100 global panelists will discuss various issues facing the textile sector.
• Policymakers, global CEOs, more than 3 thousand 500 exhibitors and more than 3 thousand buyers will participate.
• Bharat Tex 2024 will boost trade and investment. It will help enhance exports. It will showcase India’s prowess in the textile sector.

Topic: Important Days

8. Defence Security Corps celebrated its 77th Raising Day on 25 February 2024.

• It was raised on 25 February 1947 as ‘Defence Department Constabulary’.
• Its troops are providing security to different sensitive defence and civil installations across the length and breadth of India since 1947.
• Defence Security Corps is a corps of the Indian Army.
• It is responsible for providing security cover to the defence installations of the Army, Navy and Air Force.
• It is the sixth largest corps of the Army. Its motto is Raksha Tatha Suraksha.

Topic: Reports and Indices/Ranking

9. Poverty has come down to below 5% in India: NITI Aayog CEO

• NITI Aayog CEO B V R Subrahmanyam said that People are becoming prosperous in rural and urban areas.
• He said that as per the latest consumer expenditure survey, poverty has come down to 5%.
• The National Sample Survey Office (NSSO) released data on household consumption expenditure for the year 2022-2.
• According to this data, the per capita monthly household expenditure has become doubled in 2022-23 as compared to 2011-12.
• This survey has kept people in 20 different categories and the average per capita monthly expenditure for all categories stood at Rs 3,773 in rural areas and Rs 6,459 in urban areas.
• If the trend continues then it might become possible that urban and rural consumption become the same in the coming years.
• Consumption in rural areas is growing faster than in urban areas. The gap was 84 per cent in 2011-12 and has come down to 71 per cent in 2022-23.
• As per the NSSO survey, consumption of cereals and food has decreased. In rural areas, the consumption of cereals has decreased.
• Consumption of cereals and food in urban areas has also decreased as a share in the average MPCE from six per cent in 2011-12 to less than four per cent now.
• In food, people are drinking more milk, eating fruits and more vegetables.

Topic: Space and IT

10. Aditya-L1 mission detected solar wind impact of Coronal Mass Ejections.

• The Plasma Analyser Package for Aditya (PAPA) payload on Aditya-L1 has detected the impact of coronal mass ejections (CMEs) on solar wind.
• PAPA is an energy and mass analyzer designed for in-situ measurements of solar wind electrons and ions in the low energy range.
• It is operational since Dec 12, 2023, and has two sensors- Solar Wind Electron Energy Probe (SWEEP) and Solar Wind Ion Composition Analyser (SWICAR).
• Solar Wind Electron Energy Probe is for measuring electrons in the energy range of 10 eV to 3 keV while Solar Wind Ion Composition Analyser is for measuring ions in the energy range of 10 eV to 25 keV and mass range of 1-60 amu.
• The observations by PAPA show its effectiveness in monitoring space weather conditions and its capability to detect and analyse solar phenomena.
• Aditya-L1 mission was successfully launched by PSLV-C57 rocket on September 2. It carried seven payloads to study the Sun.

Topic: State News/ Maharashtra

11. The first-ever 'Maharashtra MSME Defence Expo' inaugurated in Pune on 23 February.

• The three-day Expo is being organized at the International Exhibition and Convention Center of Moshi in Pune from February 24 to 26.
• The expo will see participation from the armed forces, defense public sector undertakings, and ordnance factories.
• The event is set to promote the 'Atmanirbhar Bharat' campaign as envisioned by PM Modi.
• Under the Defence Expo, the Indian Air Force's Made in India Samar-II and Akash surface-to-air weapon systems are being showcased.
• The Samar-II system has been developed using R-27 beyond visual range air-to-air missiles.
• It can now engage targets at longer ranges than its previous version, the Samar-1 air defense missile system.
• DRDO is showcasing different types of rockets used by the Pinaka Multi-Barrel Rocket Launcher System at the expo.
• It includes guided, extended-range, and Pinaka-Mark 1 rockets.
• Developed by DRDO, a mounted gun system will be on display at the Expo.
• For the first time at the Expo, DRDO is set to display a wheeled 8x8 CBRN reconnaissance vehicle.
• The Vehicle Research and Development Establishment (VRDE) (DRDO) Indigenously designed and developed 2nd Generation vehicle, Wheeled (8x8) platform.
• It has been manufactured by Mahindra Defence System Ltd.

Topic: State News/ Rajasthan

12. The first solar project of NTPC Renewable Energy started operation in Rajasthan.

• On 21 February, NTPC Renewable Energy Limited's (NTPC-REL) first solar project in Chhattargarh, Rajasthan, announced the commencement of commercial operations of 70 MW capacity.
• With this, the installed capacity of NTPC Group has reached 73,958 MW.
• Currently, NTPC-REL has 17 projects under implementation with a total capacity of more than 6000 MW.
• With this, the total renewable energy operational capacity of NTPC Group has reached 3,448 MW.
• Chhattargarh Solar Project has a scheduled full capacity of 150 MW and is expected to be operational by March 2024.
• This capacity was acquired under SECI-Tranche: III and the beneficiary of this project is the State of Rajasthan.
• The project is designed to generate 370 million units of energy per year, enough to power 60,000 homes, while also saving 3 lakh tonnes of CO2 emissions and conserving 1,000 MMTPA of water every year.

Topic: Defense

13. Aeronautical Development Agency Signs MoU With Indian Air Force.

• The Aeronautical Development Agency and the Indian Air Force have signed an agreement for the integration of futuristic weapons and sensors into light combat aircraft Tejas.
• The MoU was signed by Shri Prabhulla Chandran VK, Technology Director (Avionics and Weapon Systems) of ADA and Air Vice Marshal KN Santosh of the IAF. 
• In the current scenario, there is a continuous need for upgrading the weapons and sensors suite of the aircraft.
• ADA has started the know-how transfer for the integration of weapons and sensors to the Software Development Institute.
• The ADA is a premier organisation that works under the administrative control Department of Defence Research and Development.
• It was established in 1984 to oversee the development of India's Light Combat Aircraft programme.

Topic: Government Schemes and Initiatives

14. Union cabinet amended the National Livelihood Mission.

• There will now be additional activities under the National Livelihood Mission (NLM).
• There will be a 50% capital subsidy provision. To individuals, FPO, SHG, JLG, FCO, and Section 8 corporations, up to ₹50 lakhs would be given.
• They will receive this money to start their own horse, donkey, mule, and camel businesses.
• The state government will support camel, donkey, and horse breed conservation.
• The semen stations and nucleus breeding farms for horses, donkeys, and camels will be established with ₹10 crore to be provided by the Central Government.
• There would be a fifty percent capital subsidy up to ₹50 lakhs for setting up fodder seed processing infrastructure.
• Private businesses, startups, SHGs, FPOs, FCOs, JLGs, and Farmers Cooperative societies will all receive this subsidy.
• A decision has been made to streamline the Livestock Insurance scheme.
• The beneficiary share of the premium for the farmers was previously 20–50%. It has now been reduced to only 15%.
• Additionally, the quantity of animals to be covered by insurance has been raised from five cattle units to ten cattle units for cattle, sheep, and goats.
• The NLM was launched in 2014–15 and currently has three sub-missions: feed and fodder, innovation and extension, and breed development of livestock and poultry.