Daily Current Affairs and GK | 6 September 2024

Topic: MoUs/Agreements

1. An Agreement signed by India and South Africa on submarine rescue operations.

• On September 4, an implementation agreement signed by the Indian and South African navies to enhance Submarine Rescue Support Cooperation, ensuring “safety of South African Navy submarine crew in times of distress or accident”.
• Under this agreement, the Indian Navy will provide assistance by deploying its Deep Submergence Rescue Vehicle (DSRV) whenever required, thereby further strengthening the cooperative relationship between the two navies.
• Indian Navy Chief Admiral Dinesh K. Tripathi and South African Navy Chief Vice Admiral Monde Lobese signed this agreement.
• Three members of the South African Navy lost their lives in September 2023 as a result of an incident involving the German submarine SAS Manthatisi, one of the three HDW vessels, off the coast of Cape Town.
• The Indian Navy had acquired two DSRVs from the UK, which were operationalised in Mumbai in 2018 and in Visakhapatnam the following year.
• The system can go up to a maximum depth of 650 metres and can rescue 14 people at a time. It also has a remotely operated vehicle (ROV).

Topic: National Appointment

2. Aparna Yadav appointed Vice President of Uttar Pradesh Women Commission.

• On September 3, the Uttar Pradesh government announced the appointment of officials of the state women's commission, which also included Aparna Yadav, sister-in-law of Samajwadi Party chief Akhilesh Yadav.
• According to an official notification issued by Principal Secretary Leena Johri, Governor Anandiben Patel, exercising her powers, has nominated Babita Chauhan as Chairperson of the Uttar Pradesh State Women Commission.
• While, Aparna Yadav and Charu Chaudhary nominated as Vice-Chairpersons of the Commission for a period of one year or until the decision of the Uttar Pradesh government.
• Aparna Yadav is the younger daughter-in-law of SP founder and former Chief Minister Mulayam Singh Yadav.
• Aparna Yadav contested the 2017 UP Assembly elections from the Lucknow Cantt seat on a SP ticket but was unsuccessful and later joined the BJP in January 2022.

Topic: Awards and Prizes

3. Hayao Miyazaki won 2024 Ramon Magsaysay Award.

• Japanese filmmaker Hayao Miyazaki has won the 2024 Ramon Magsaysay Award.
• He is one of the foremost exponents of animated films made expressly for children.
• He began his career as an animator in 1963 after studying economics and political science.
• The 2024 recipients of the award include three individuals and one group.
• It has been also presented to Farwiza Farhan (Indonesia), Karma Phuntsho (Bhutan), Dr. Nguyen Thi Ngoc Phuong (Vietnam) and the Rural Doctors Movement (Thailand).
• Farwiza Farhan is honoured for her deep commitment to environmental conservation and social justice in Indonesia.
• Karma Phuntsho receives the award for his contributions to preserving Bhutan's cultural heritage with modern aspirations.
• Dr. Nguyen Thi Ngoc Phuong has been awarded for her dedication to public health and her courageous efforts to seek justice for the victims of Agent Orange.
• The Rural Doctors Movement from Thailand is honoured for its transformative impact on the nation’s healthcare system.
• Ramon Magsaysay Award:
  • It is the highest honour in Asia and is considered the equivalent of the Nobel Prize.
  • The award is presented to individuals and organizations that have significantly impacted Asia.
  • It was established in 1957 in memory of Ramon Magsaysay, the third President of the Philippines.

Topic: Indian Economy

4. Norms for expenditure of more than Rs 500 crore have been relaxed by the Finance Ministry to boost capital expenditure (capex).

• The Finance Ministry has relaxed the norm to accelerate capex which is kept at Rs 11.11 trillion for the current fiscal.
• In the Budget, Finance Minister Nirmala Sitharaman has proposed to increase the capital expenditure target by 11.1% to Rs 11.11 trillion for 2024–25.
• A May 2022 memorandum stated that to facilitate the tracking of expenses and cash flow, the release of amounts between Rs 500 crore and Rs 2,000 crore has to be prepared.
• To capitalise on the Goods and Services Tax (GST) inflows, the dates for these releases may be limited to the 21st and 25th of a given month.
• Similarly, in order to take advantage of the inflow of direct tax receipts, bulk expenditure items valued at more than Rs 2,000 crore were scheduled for the second and final fortnight of the quarter.
• These conditions will no longer be present.
• An office memorandum dated September 2, 2024, stated that it has been agreed to relax criteria for significant releases beyond Rs 500 crore for all categories of expenditure in the current financial year.
• This has been done in order to allow the necessary operational flexibility in the execution of the budget.
• According to the memorandum, financial advisers will examine and set a freeze on the timing of dividend payments and other non-tax receipts from their respective ministries and departments.
• The memorandum further stated that the dividend payments and buyback considerations will be targeted in the first half of the fiscal year.