Daily Current Affairs and GK | 29 July 2021

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Topic: Indian Economy

1. IMF slashed India's economic growth forecast for FY22 to 9.5%.

  • The International Monetary Fund (IMF) has reduced India’s economic growth projection by 300 basis points to 9.5% for the financial year 2022 from 12.5%.
  • However, IMF has projected India's economy to grow at 8.5 percent in 2023.
  • The global growth forecast remained unchanged at 6% for the financial year 2021.
  • It has also projected the global economy to grow by 4.9% in 2022. China’s growth forecast has been cut by 0.3%.
  • According to the IMF, the growth prospects in emerging markets and developing economies will remain low for the year 2021.
  • The World Bank projected India's economy to grow at 8.3 percent in 2021 and 7.5 percent in 2022.

IMF slashed India's economic growth forecast for FY22 to 9.5%

Topic: Important Days

2. International Tiger Day: 29 July

  • International Tiger Day is celebrated every year on 29 July. It is observed to raise awareness and support tiger conservation issues.
  • The main objective of this day is to promote a global system for protecting the natural habitats of tigers.
  • This day was adopted in 2010 during the St. Petersburg Tiger Summit.
  • India launched Project Tiger in 1973 for the conservation of tigers. According to the National Tiger Conservation Authority, there are only 2,967 tigers in India.
  • Habitat loss, climate change, hunting, and poaching are the main threats for tigers.
 

Topic: Sports

3. Indian badminton player Nandu Natekar passes away.

  • Indian badminton player Nandu Natekar has passed away. He is the first Indian to win an international title in 1956.
  • He won over 100 national and international titles in his career. He was born in Maharashtra. He was also conferred with the Arjuna Award in 1961.
  • He made it to the quarterfinals of the All England Championships in 1954.
  • He became the first Indian player to win an international event when he won Sellanger International in Malaysia in 1956.
  • He also won 12 out of the 16 singles matches and 8 out of 16 in doubles as a member of the Indian team at the Thomas Cup between 1951 and 1963.
  • He also represented India in Commonwealth Games in Jamaica in 1965.
  • Thomas Cup is an international badminton competition. It is also called the World Men's Team Championships.

Indian badminton player Nandu Natekar

Topic: Summits/ Conferences/ Meetings

4. Defence Minister Rajnath Singh took part in SCO conclave in Dushanbe.

  • Defence Minister Rajnath Singh has attended a conclave of Shanghai Cooperation Organisation (SCO) in Dushanbe, the capital city of Tajikistan.
  • He reached Dushanbe on 27 July on a three-day visit to attend the conclave of the defence ministers of the member states of the SCO.
  • Chinese Defence Minister Wei Fenghe is also attending the SCO meeting. Tajikistan is chairing the SCO this year.
  • External Affairs Minister S Jaishankar earlier visited Dushanbe to take part in a conclave of foreign ministers of the SCO states on July 14.

Shanghai Cooperation Organization (SCO):

Its creation was announced in 2001 by leaders of six nations.

Currently, it has eight members. India and Pakistan joined it in June 2017.

The other six members are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan.

It is headquartered in Beijing, China. Vladimir Norov is its current Secretary General.

Topic: Government Schemes and Initiatives

5. Parliament passes Juvenile Justice (Care and Protection of Children) Amendment Bill 2021.

  • Parliament has passed the Juvenile Justice (Care and Protection of Children) Amendment Bill 2021. It has amended the Juvenile Justice (Care and Protection of Children) Act, 2015.
  • It authorized District Magistrate including Additional District Magistrate to issue adoption orders for speedy disposal of cases and to enhance accountability.
  • According to the amended provisions, any Child Care Institution will be registered only after the recommendations of the District Magistrate.
  • District Magistrate can now independently evaluate the functioning of District Child Protection Units, Child Welfare Committees, Juvenile Justice Boards, and Child care Institutions.
  • The eligibility parameters for the appointment of CWC members have been redefined under this amended bill.
  • The objective of this bill is to entrust the responsibilities of care and protection of vulnerable children to District Magistrates.

Topic: Important Days

6. World Nature Conservation Day: 28 July

  • The World Nature Conservation Day is observed annually on July 28.
  • It is observed to raise awareness about the need to preserve the environment and natural resources.
  • The main focus of this day is to conserve the animals and trees that are on the verge of extinction.
  • We can take many steps include cutting down on the use of plastics, planting more trees, conserving water, saving electricity, checking e-waste, etc. for the conservation of the environment.

Topic: State News/ Bihar

7. Bihar to set up its first sports University.

  • The Bihar legislative assembly passed a bill to establish the first Sports University in the state.
  • All sports-related institutions, training centers, and colleges of physical education will be affiliated with this first sports university of the state.
  • It will be the sixth sports university in the country. It will be probably established in Rajgir. One- third seats of the university will be reserved for women.
  • The Bill was prepared by a team of officials of the art, culture and youth department.
  • Bihar assembly also passed Bihar Panchyati Raj (Amendment) Bill, 2021 to increase the tenure of the advisory committee in panchayats.

Bihar:

It is located in the eastern part of India.

It shares its boundary with Uttar Pradesh, Nepal, West Bengal, and Jharkhand.

It is the third-largest state by population and the twelfth-largest by territory.

Nitish Kumar is the Chief Minister and Phagu Chauhan is the Governor of Bihar.

Topic: State News/ Rajasthan

8. Rajasthan government launched ''Mission Niryatak Bano'' to promote export from state.

  • Rajasthan government's industries department and the Rajasthan State Industrial Development and Investment Corporation (RIICO) have launched the ''Mission Niryatak Bano'' to promote export from the state.
  • The main aim of this mission is to register the local traders willing to expand their business to foreign countries.
  • Under this campaign, assistance will be provided to local traders in training, documentation, and registration in the Rajasthan Export Promotion Council.
  • The exporter assistance campaign will focus on products other than traditional handicrafts. It will also create new job opportunities in the state.
  • Rajasthan mainly exports handicrafts, gems and jewellery, stones, agro and food products, and textile products. Its share in the national exports is around 2%.

Topic: Report and Indices

9. Women unemployment rate falls to 4.2% in 2019-20 from 5.1%.

  • According to Periodic Labour Force Survey (PLFS) conducted by National Statistical Office, the unemployment rate for women has fallen to 4.2% in 2019-20 from 5.1%.
  • According to the PLFS for 2019-20, women's share under MGNREGA has increased to around 207 crore person-days.
  • In 2019-20, the Labour Force Participation Rate (LFPR) for women has increased from 24.5% to 30%.
  • In order to encourage the employment of women, the government has started several initiatives. Around 1.2 crore women have got the benefit of Pradhan Mantri Mudra Yojana (PMMY).
  • The government had launched Aatmanirbhar Bharat Rozgar Yojna (ABRY) Scheme to incentivize the creation of new employment.

Initiatives taken by the government to improve the employment of women are:

  • The government has increased maternity leave from 12 weeks to 26 weeks.
  • The government allowed women to work in the aboveground mines.
  • Provided training to women through Women Industrial Training institutes, National Vocational Training Institutes, and Regional Vocational Training Institutes.

Topic: Banking System

10. Union Cabinet approves changes to deposit insurance laws.

  • Union Cabinet has approved changes to deposit insurance laws to provide funds up to Rs 5 lakh to an account holder within 90 days of the bank being put under moratorium.
  • Till now, account holders used to wait for a year till liquidation or restructuring of the distressed bank to get their deposits.
  • Government has also given permission for raising the deposit insurance premium by 20% immediately, and maximum by 50%.
  • Banks pay a minimum of 10 paise on every Rs 100 worth of deposits to the DICGC as a premium for the insurance cover. This has now been raised to a minimum of 12 paise.
  • Government has planned to introduce the Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 in the current session of Parliament.
  • The proposed law will be implemented prospectively and not retrospectively. However, it will cover banks already under moratorium.
  • DICGC would collect all information about deposit accounts within the first 45 days of the bank being put under moratorium. In the next 45 days, the information will be reviewed and depositors will be repaid.
  • A depositor can claim up to a maximum of Rs 5 lakh per account as insurance cover even if the deposit in their account far exceeds Rs 5 lakh.

Deposit Insurance & Credit Guarantee Corporation (DICGC):

It is a fully owned subsidiary of RBI. It was established in July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961.

It ensures deposits in public and private sector banks, local area banks, small finance banks, regional rural banks, cooperative banks, Indian branches of foreign banks and payments banks.

Topic: Biotechnology and Diseases

11. Philippines becomes the first country to approve “Golden Rice” for planting.

  • Philippines has become the first country to approve “Golden Rice” for planting.
  • Golden Rice has already got food safety approvals in other countries but Philippines is the first country to approve commercial cultivation.
  • Department of Agriculture-Philippine Rice Research Institute (DA-PhilRice) developed Golden Rice in partnership with International Rice Research Institute (IRRI).
  • It contains higher levels of beta-carotene, which is converted into vitamin A inside the body.
  • Around 190 million children worldwide suffer from vitamin A deficiency, which causes childhood blindness and weakens the immune system.
  • Golden Rice is genetically modified to provide up to 50% of the estimated average need for vitamin A of young children.
  • Professors Ingo Potrykus and Peter Beyer first conceived Golden Rice in the late 1980s.

International Rice Research Institute is an international agricultural research and training organization. It is headquartered in Los Baños, Philippines.

Vitamin A:

  • Its chemical name is retinol. Its deficiency causes colour blindness and Xerophthalmia.
  • Milk, egg, cheese, green vegetables and fish liver oil are its common sources.

Topic: Sports

12. First Olympic women’s street skateboarding gold won by Momiji Nishiya just at the age of 13.

  • First Olympic women’s street skateboarding gold has been won by Momiji Nishiya just at the age of 13.
  • She has become the first women’s Olympic street skateboarding champion. She has also become one of the youngest gold medal winners ever in the Olympic Games.
  • Rayssa Leal of Brazil and Nakayama Funa of Japan were two runner ups.
  • Marjorie Gestring of the USA’s team at the 1936 games in Berlin was the youngest gold medalist. Gestring had won gold in the women's diving competition.
 

 

 

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