Daily Current Affairs and GK | 28 December 2024

Topic: Indian Economy

1. Rural areas saw a 9% increase in Monthly Per Capita Expenditure (MPCE) in 2023–24 compared to 2022–23.

• The MPCE in urban areas increased by around 8% in 2023–24 compared to 2022–23.
• In rural India, the average MPCE has been estimated to be 4,122 rupees, based on the Household Consumption Expenditure Survey 2023-24.
• According to estimates, the average MPCE in urban India is 6,996 rupees.
• Household Consumption Expenditure Survey 2023-24 has been released by the Ministry of Statistics and Program Implementation.
• More than 2.6 lakh households nationwide were surveyed.
• According to data, consumption in rural areas is increasing more quickly than in urban areas.
• The urban-rural consumption gap is closing significantly.
• In MPCE, the urban-rural divide decreased from 84% in 2011–12 to 71% in 2022–2023.
• According to the survey, non-food items continue to account for the majority of a household's typical monthly expenses, accounting for roughly 53% in rural areas and 60% in urban ones.
• In both rural and urban households, beverages, refreshments, and processed foods continue to account for the largest portion of food expenditures in 2023–2024.

Topic: Government Schemes and Initiatives

2. On Good Governance Day, Dr. Jitendra Singh introduced the "Viksit Panchayat Karmayogi" initiative.

• The initiative is part of the "Prashasan Gaon Ki Aur". It seeks to improve Panchayati Raj Institutions' capability and competence.
• Through creative tools and frameworks for capacity-building, the "Viksit Panchayat Karmayogi" initiative seeks to develop Panchayati Raj Institutions (PRIs).
• The initiative, piloted in Odisha, Assam, Gujarat, and Andhra Pradesh, uses mobile apps, chatbots driven by artificial intelligence, and e-learning platforms to improve service delivery.
• To commemorate Good Governance Day, the Minister introduced five pioneering initiatives.
• Along with the introduction of the 1600th e-learning course, the first initiative launched by Dr. Jitendra Singh was the introduction of a new dashboard on the iGOT Karmayogi platform.
• The Viksit Panchayat Karmayogi initiative was introduced as the second initiative.
• The publication of the CPGRAMS Annual Report 2024 was the third initiative.
• The Centralised Public Grievance Redress and Monitoring System is thoroughly reviewed in the report.
• The Single Simplified Pension Application Form is the fourth initiative. For retired officials, it transforms the pension processing process.
• Nine different forms are combined into a single, efficient digital format.
• The Compendium of Pension Related Instructions, 2024, was another important initiative launched.

Topic: Miscellaneous

3. AIM and UNDP launched the seventh edition of the Youth Co: Lab National Innovation Challenge for 2024-2025.

• The seventh edition of the Youth Co:Lab National Innovation Challenge for 2024-2025 has been launched by the Atal Innovation Mission (AIM), NITI Aayog, and the United Nations Development Programme (UNDP) in association with the Citi Foundation.
• The main aim of the initiative is to foster social entrepreneurship and drive sustainable development.
• Till 2024, Youth Co: Lab has conducted six national theme-specific youth social innovation and entrepreneurship dialogues in India.
• This year it will be implemented in collaboration with AssisTech Foundation (ATF), India's leading organization accelerating Assistive Technology (AT) innovation for People with Disabilities.
• The 2025 programme aims to support 30-35 early-stage startups through a springboard program.
• Young founders aged 18–32 who are passionate about solving real-world challenges or creating meaningful co-innovation opportunities for disability inclusion will be part of this challenge.
• Youth Co:Lab was created in 2017 by UNDP and Citi Foundation.

Topic: Indian Economy

4. Current account gap narrows to 1.2% of GDP in July-Sept: RBI

• India's current account deficit (CAD) stood at $11.2 billion or 1.2% of GDP in the July-September quarter of 2024-25.
• During the second quarter of 2023-24, the CAD was $11.3 billion or 1.3% of GDP.
• During April-September 2024 (H1 2024-25), the current account deficit was $21.4 billion or 1.2% of GDP.
• Merchandise trade deficit increased to $75.3 billion in the second quarter of 2024-25. It was $64.5 billion in the same period of 2023-24.
• Net services receipts increased to $44.5 billion in Q2 2024-25 from $39.9 billion.
• Service exports have increased in different categories, such as computer services, business services, travel services, and transportation services.
• Net foreign direct investment recorded an outflow of $2.2 billion in Q2 2024-25 compared to $0.8 billion outflow in the same period of 2023-24.

Topic: Personality in News

5. Osamu Suzuki passed away at the age of 94.

• On December 25, Osamu Suzuki, the former chairman of Suzuki Motor Corporation, died at the age of 94 from malignant lymphoma.
• The company was run by Osamu Suzuki for more than 40 years. At the age of 91, he declared his retirement in 2021.
• He began working for Suzuki Motor in 1958, rose to the position of chairman in 2000, and was elected president in 1978.
• He was the global automaker's longest-serving CEO.
• He was the chairman of Suzuki Motor Corporation and a Japanese businessman.
• He was awarded Padma Bhushan by Government of India in 2007.

Topic: Indian Economy

6. According to the Finance Ministry, the Indian economy will expand by about 6.5% in real terms during the 2024–2025 fiscal year.

• Finance Ministry's Department of Economic Affairs said this in its monthly economic report for November.
• The estimate is in line with the RBI's updated FY25 growth prediction of 6.6%.
• GDP growth was predicted by the July Economic Survey to be between 6.5 and 7 percent.
• The expectation for economic growth in Q3FY25 is favorable, according to the November monthly economic report from the finance ministry.
• Sales of domestic tractors and two- and three-wheelers increased significantly in October and November, indicating strong rural demand.
• A strong increase in air travel within that time frame suggests that urban demand has recovered.
• In the first half of 2024–2025, India grew by an average of 6%.
• Additionally, reduced food and core inflation in November 2024 contributed to an easing of inflationary pressures.
• Between July and September, India's GDP growth unexpectedly dropped to a seven-quarter low of 5.4%.

Topic: MoUs /Agreements

7. NeGD and IPA signed MoU for digital transformation in India’s maritime sector.

• The National e-Governance Division (NeGD) and the Indian Ports Association (IPA) have inked a Memorandum of Understanding (MoU) in New Delhi on December 24, 2024.
• This strategic partnership aims to drive digital transformation in India's maritime sector.
• For this, NeGD’s technical expertise will be integrated with IPA’s deep insight into the maritime sector (ports, shipping, etc.) and logistics industries at national and international levels.
• Under this MoU, a strong framework to streamline the logistics system, enhance operational efficiency and modernise the port ecosystem.
• The key focus will be on advanced software development, system integration, capacity building, and the adoption of emerging technologies.
• This MoU strengthens India's maritime capabilities and is in line with the national vision to become a global leader in the digital transformation of port operations.

Topic: Summits/ Conferences/ Meetings

8. 45th PRAGATI meeting has been chaired by PM Modi.

• Prime Minister Narendra Modi reviewed eight significant projects, including six metro projects of urban transport and one project each relating to road connectivity and thermal power.
• He emphasized that government officials at both central and state levels must understand that project delays not only increase costs but also deprive the public of the intended benefits.
• In the meeting, he also reviewed public grievances related to the banking and insurance sectors.
• He stressed on the importance of timely rehabilitation and resettlement of project-affected families during the implementation of projects.
• He also reviewed PM Surya Ghar Muft Bijli Yojana.
• PRAGATI is a unique integrating and interactive platform.
• Its main aim is to address the common man’s grievances while simultaneously monitor and review important programs and projects of the Government of India.