Daily Current Affairs and GK | 26 and 27 March 2023

Topic: Economy/Banking/Finance

1. In Q1 2023, Global goods trade may rise by 1%: UNCTAD

• According to the United Nations Conference on Trade and Development (UNCTAD), Global goods trade is expected to increase by 1% in the first quarter of 2023.
• The trade-in service will grow by 3%. Global trade has reached to more than $32 trillion in 2022 but turned negative in the last quarter.
• UNCTAD predicted trade stagnation for the first quarter of 2023.
• As per the report, the uncertainty for trade will remain intact due to ongoing geopolitical tensions, inflation, high commodity prices, etc.
• UNCTAD said that as most of the trade is done in dollars so a weak dollar would result in increased demand for traded goods.
• In the fourth quarter of 2022, the global trade for developing countries was impacted more.
• Their import and exports both fell by 6% compared with the previous quarter. Exports from East Asian economies fell down by 7%.
• The trade performance in “green goods” or “environmentally friendly goods” was good.
• United Nations Conference on Trade and Development (UNCTAD) is a UN institution that deals with trade and development.

Topic: Environment and Ecology

2. Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav launched Aravalli Green Wall Project.

• Shri Yadav launched the project at a function organised to celebrate the International Day of Forests at Tikli Village (Gurugram) in Haryana.
• He also unveiled the National Action Plan to Combat Desertification and Land Degradation Through Forestry Interventions.
• Aravalli Green Wall Project is an initiative to green the 5 km buffer area around the Aravalli Hill Range in four states.
• It will increase the green cover and biodiversity of the Aravalli through reforestation, afforestation and restoration of water bodies.
• It will also improve water availability, soil fertility and climate resilience of the region.
• In the starting phase, 75 water bodies will be rejuvenated under the project.
• Aravalli Green Wall Project in Haryana started with five waterbodies each in every district of Aravalli landscape on March 25th.
• Degraded land in Gurgaon, Faridabad, Bhiwani, Mahendergarh and in Rewari districts of Haryana will be covered under the project.
• Society for Geoinformatics and Sustainable Development (a voluntary organization) and IMGurgaon (a NGO) will mobilize people for Shramdaan for revival of water bodies at Bandhwadi and Ghata Bundh respectively.
• The Aravalli Green Wall Project covers states of Haryana, Rajasthan, Gujarat and Delhi. The objectives of the project are given below.
  • To improve the ecological health of the Aravalli range.
  • To prevent eastward expansion of Thar Desert.
  • To reduce land degradation by creating green barriers that will prevent soil erosion, desertification and dust storms.
  • To enhance the biodiversity and ecosystem services of the Aravalli range by planting native tree species in the Aravalli region.

Topic: Personality in News

3. Intel co-founder, Gordon Moore passed away.

• Gordon Moore was a pioneer in the semiconductor industry and the creator of Moore’s Law.
• Gordon Moore co-launched Intel in 1968. As per Moore’s Law, the number of transistors in an integrated circuit doubles every two years.
• He received a Ph.D. in chemistry and physics in 1954.
• He met Intel cofounder Robert Noyce at the Shockley Semiconductor Laboratory.
• Intel is an abbreviation for Integrated Electronics.
• Moore described himself as an accidental entrepreneur.
• Moore received a Medal of Freedom from President George W. Bush in 2002. The Medal of Freedom is the highest civilian honor of the US.

Topic: National News

4. Government has decided to lift AFSPA from more areas in Northeast states.

• From 1 April, Government will remove the Disturbed Areas Notification from one more district in Assam, three more police stations in Nagaland and four more police stations in Manipur. 
• Now, AFSPA will remain in force in only eight districts of Assam. 
• AFSPA has been in force in Nagaland since 1995. The government removed AFSPA from 15 police station areas of seven districts on April 1, 2022.
• Last year, the government removed AFSPA from the entire state of Assam, except for nine districts and one sub-division of another district.
• Home Minister Amit Shah said the security situation in the northeast has improved significantly.
• In 2022, there is a 76% decrease in extremist incidents compared to 2014.
• The deaths of civilians and security personnel have decreased by 97% and 90% respectively during 2014-2022.
• Ministry of Home Affairs extended the disturbed area status in areas of Arunachal Pradesh and Nagaland under the AFSPA for six months.
• Armed Forces (Special Powers) Act (AFSPA):
  • This is a Parliamentary Act that was introduced in 1958.
  • The Act gives the Armed Forces special powers of search and arrest and many others for the maintenance of public order.

Topic: Sports

5. Mumbai Indians beat Delhi Capitals to lift Women's Premier League trophy.

• On 26 March, Mumbai Indians has won the inaugural Women's Premier League 2023.
• They defeated Delhi Capitals by seven wickets at the Brabourne Stadium in Mumbai.
• Mumbai Indians needed 132 runs to win and they won the match by scoring 134 runs in 19 overs in three balls losing 3 wickets.
• Nate Sciver-Brunt was the highest scorer for Mumbai scoring 60 not out.
• Women's Premier League (WPL):
  • It is a women's Twenty20 cricket, and owned and operated by the Board of Control for Cricket in India (BCCI).
  • This was the first season played in March 2023, with five teams.

Topic: Summits/Conferences/Meetings

6. Gandhi Nagar hosted a second meeting of Environment and Climate Sustainability Working Group.

• On 27 March, the Second G20 Environment and Climate Sustainability Working Group (ECSWG) meeting started at the Mahatma Mandir in Gandhinagar, Gujarat.
• In this event, representatives of over 30 countries and several international organizations will participate.
• On 28 March, the meeting will be formally inaugurated in the presence of Union Minister Darshana Zardosh.
• It will be a three-day meeting (27-29 March 2023), focusing on three priority areas.
• This includes reducing biodiversity and land degradation, encouraging resource efficiency in a circular economy, and promoting a sustainable and climate-resilient marine economy.
• The three-day meet began on 27 March with a side event on water resource management, during which India's capabilities in making water accessible to all showcased.
• All G20 countries will also showcase their best practices of water resource management.
• Later, the delegates will be taken on a tour of the ancient stepwell Adalaj Ni Vav, which will showcase the long-standing Indian tradition of water conservation..
• During the meeting, various water management interventions of the Government of India such as Namami Gange, Jal Jeevan Mission, Jal Shakti Abhiyan will be showcased.
• From 9-11 February, 2023, the First G20 Environment and Climate Sustainability Working Group (ECSWG) meeting held in Bengaluru.

(Source: Newson Air)

Topic: Sports

7. India won four gold in World Women’s Boxing Championship.

• Lovlina Borgohain defeated Caitlin Parker of Australia in the final of the 75-kilogram category at the Indira Gandhi Sports Complex.
• This was Lovlina’s first gold medal at the World Championships. She won the bronze at the 2018 and 2019 editions.
• Lovlina Borgohain won the fourth gold medal for India at the tournament. 
• India’s Nikhat Zareen earlier defeated Vietnam’s Nguyen Thi Tam in the 50 kg light flyweight category.
• She became World Champion for the second successive time.
• She is only the 2nd Indian woman boxer after Mary Kom to win more than one world title.
• Nikhat Zareen won the third gold medal for India at the tournament.
• On 25 March 2023, India’s Nitu Ghanghas (48kg) and Saweety Boora (81kg) won two gold medals at the Championships.
• The 2023 IBA Women's World Boxing Championships were the 13th edition of the IBA Women's World Boxing Championships.
• The 2023 IBA Women's World Boxing Championships was held in New Delhi from 15 to 26 March 2023.
• IBA Women's World Boxing Championships are biennial boxing competitions organised by the International Boxing Association (IBA).

(Source: News on AIR)

Topic: National News

8. Innovation Festival organised by the National Science Centre, Delhi.

• Two-day long Innovation Festival was inaugurated in New Delhi on 25 March 2023.
• The aim of the festival is to foster a passion and aptitude for science and technology.
• The festival also aims to provide a unique platform for innovators.
• The festival was open to all age groups. It comprised Creative Robo Design, Innovative Challenges for families, Science Quiz, Popular Science lecture, Workshop on Intellectual Property Right and Idea Contest.
• The festival was inaugurated by Prof. Balram Bhargava (Chief Guest) President, NASI, Former Secretary, Department of Health Research.
• The valediction ceremony was chaired by Dr. Debasis Mohanty, Director, National Institute of Immunology, New Delhi on 26th March, 2023.

(Source: News on AIR)

Topic: Sports

9. Satwiksairaj Rankireddy and Chirag Shetty win Swiss Open Super 300 Badminton doubles title in Basel.

• India’s pair Satwiksairaj Rankireddy and Chirag Shetty wins their first title of the 2023 season in Basel.
• They defeated China’s Ren Xiang Yu and Tan Qiang by 21-19, 24-22 in the Swiss Open 2023.
• The world number sixth pair defeated the world number 21 pair.
• K. Watanabe won the Men’s single title while the women’s single title winner is P. Chochuwong.
• It is the first BWF (Badminton World Federation) doubles title for Rankireddy and Shetty, and the fifth World Tour title of their career.
• Last year, they won the India Open and French Open. Satwik and Chirag also won the 2022 Commonwealth Games gold.
• PV Sindhu (2022), Saina Nehwal (2011, 2012) and Kidambi Srikanth (2015) and HS Prannoy (2016) are among the winners of the Swiss Open.
• This tournament was held at St. Jakobshalle in Basel, Switzerland from 21 to 26 March.

(Source: News on AIR)

Topic: National News

10. Rubber Board launched a comprehensive rubber information system.

• Rubber Board has launched the CRISP mobile app. It will inform growers about rubber cultivation and provides solutions online.
• CRISP (Comprehensive Rubber Information System Platform) app has been developed by the Rubber Research Institute of India (RRII) in association with the Digital University of Kerala.
• The app has been launched by ZP Patel, Vice Chancellor, Navsari Agricultural University, Gujarat.
• Now, the farmers can receive the recommendation of RRII on production and productivity enhancement, etc. with the help of CRISP.
• At present, these facilities are provided to farmers through traditional extension methods.
• The e-library of RII has been also launched by KN Raghavan, Executive Director, Rubber Board.
• Rubber Board:
  • Rubber Board is a statutory body under the Government of India.
  • It was established under the Rubber Act 1947 for the overall development of the rubber industry in India.
  • Its head office is located in Kottayam, Kerala.

Topic: State News/ Tamil Nadu

11. Disaster management policy has been released by Tamil Nadu.

• The Chief Minister of Tamil Nadu, M.K. Stalin, released the Tamil Nadu State Disaster Management Plan, 2023, which lists out action plans to undertake in case of various natural and human-made disasters.
• The Chief Minister also released the Tamil Nadu State Disaster Management Policy, 2023, at a function at the Secretariat on March 24.
• The plan lists detailed action plans to deal with disasters such as earthquakes, cyclones, tsunamis, floods, urban flooding, industrial and chemical disasters, biological and public health emergencies, nuclear and radiological disasters and fire.
• The aim of this policy is to develop a new culture of prevention, preparedness and rapid response for the management of disasters.
• It also includes reducing the vulnerability of the community through proper risk assessment and necessary risk mitigation measures.
• Funds will be sourced mainly from the State Disaster Mitigation Fund and the National Disaster Mitigation Fund and the Special Purpose Fund created by the Centre.
• Rs 2,500 crore has been provided by the 15th Finance Commission to reduce the risk of urban flooding in the seven most populous cities.
• An allocation of ₹500 crores is to be provided to Chennai at the rate of ₹100 crore per year in five years.
• ₹100 crore has been provided to Tamil Nadu to start a drought mitigation programme. It will be provided at the rate of ₹20 crore over a period of 5 years.
• An allocation of ₹750 crore has been provided for managing seismic and landslide risks in ten hilly states.
• Under the NDRF–Capacity Building Component, an allocation of ₹5,000 crore has been provided for modernising the fire services of the country.
• The state government will urge the Center to continue providing special assistance for disaster management, especially for disaster mitigation.

Topic: State News/ Jammu & Kashmir

12. Maa Sharda Devi temple has been virtually inaugurated by Amit Shah near LoC in Kashmir.

• The Maa Sharda Devi temple and a gurdwara were inaugurated at Teetwal on the banks of Kishanganga River in the frontier district of Kupwara near the Line of Control.
• It is an ancient Hindu temple in Neelam Valley in Pakistan-occupied-Kashmir, which has been out of bounds since 1947.
• Shri Amit Shah said that the re-construction of the Sharda Temple at Teetwal is an important step in the direction of discovery of Sharda civilization and promotion of Sharda script.
• The architecture and construction of this temple has been done according to mythological scriptures under the aegis of Sharda Peeth.
• The temple and the gurudwara were burnt down in 1947.
• The ruins of Sharda Peeth are located across the Line of Control in Neelum Valley, about 56 km from Teetwal in Kupwara or 160 km from Muzaffarabad, the capital of PoK.
• After partitioning, the temple became out of bounds for the people on this side.
• The temple was one of the most prominent temple universities in the Indian subcontinent between the 6th and 12th centuries CE.

(Source: News on Air)

Topic: Indian Polity

13. Lok Sabha passed Financial Bill 2023.

• Government proposed 64 amendments to the Finance Bill 2023.
• Finance Minister requested RBI to bring payments for foreign tours through credit cards within the ambit of Liberalised Remittance Scheme.
• Under the amendments, securities transaction tax (STT) on options and futures trades has been hiked by up to 25%.
• As part of the amendment, long–term capital gains treatment with indexation benefits for debt mutual funds have been removed.
• Investments in mutual funds in which not more than 35% is invested in debt funds will now be deemed to be short-term capital gains. 
• This proposal will apply to investments made on or after April 1, 2023.
• Indexation benefits will be provided to debt funds held for more than three years.
• Finance Bill 2023 also contains amendments for setting up a GST Appellate Tribunal (GSTAT).
• The government has extended tax holidays for banking units in IFSC from 100% in first five years and 50% in the next five years to the 100% for entire 10-year period.

Topic: Awards and Prizes

14. Mathematician Luis Caffarelli wins Abel prize for 2023.

• Luis Caffarelli has won the 2023 Abel prize for solving equations with geometry.
• He got the award for his work on nonlinear partial differential equations.
• Caffarelli started work on partial differential equations (PDEs) in the late 1970s and published hundreds of papers.
• He is known for making connections between seemingly distant mathematical concepts.
• The award comprises a prize of 7.5 million Norwegian kroner. It is often described as the equivalent of the Nobel prize.
• Abel prize:
  • It is awarded by the Norwegian Academy of Science and Letters.
  • It is named after Norwegian mathematician Niels Henrik Abel. It was started in 2002.
  • The first Abel Prize was awarded in 2003 to Jean-Pierre Serre.
  • Srinivasa S.R. Varadhan is the only person of Indian origin to have won this prize. He won it in 2007.
  • Karen Keskulla Uhlenbeck is the only woman mathematician to win this prize.