Daily Current Affairs and GK | 7 August 2024

Topic: Personality in News

1. Minnesota Governor Tim Walz to contest for Vice President from Democratic side.

• U.S. Vice-President Kamala Harris picked Minnesota Governor Tim Walz as her running mate.
• Mr. Walz, military veteran and union supporter, will contest from the Democratic Party.
• He was first elected governor of Minnesota in 2018 and won a second term four years later.
• Walz served in the US House of Representatives for 12 years. He is also seen as a strong defender of abortion rights.
• Tim Walz will face J.D. Vance in the U.S. Presidential election.
• Mr. Walz has supported many initiatives including free school meals, goals for tackling climate change, tax cuts for the middle class and expanded paid leave for Minnesota workers.
• In the 2022 governor’s race, Mr. Walz won with 52.27% votes as compared to his opponent with 44.61%.

Topic: State News/ Assam

2. Bhumi Pujan ceremony of Tata Group’s ₹27,000 crore semiconductor assembly and test facility in Jagiroad, Assam was conducted recently.

• Tata announced in February 2024 that the Indian government had accepted Tata Electronics' proposal to construct a cutting-edge, greenfield semiconductor assembly and testing facility in Assam.
• The project is estimated to create around 27,000 direct and indirect jobs in the region, with an investment outlay of ₹27,000 crores.
• By mid-2025, the new facility should be operating.
• Because Assam is close to water supplies, green energy sources, and test hubs in Southeast Asian nations, it was an important location.
• Use cases for the facility and semiconductor chips include mobile devices, artificial intelligence, and the automobile sector.

Topic: Government Schemes and Initiatives

3. The continuation of interest subvention scheme for farmers has been approved by the government.

• The continuation of interest subvention scheme for short-term loans of up to Rs 3 lakh for agriculture and allied activities obtained through Kisan Credit Card (KCC) during the current financial year has been approved by the government.
• Under the scheme, farmers are provided loans at a concessional interest rate of 7%.
• Farmers that repay their loans on time receive an additional 3% annual interest subvention.
• According to the RBI, lending institutions will receive interest subventions at a rate of 1.5% in 2024–2025.
• Small and marginal farmers will be eligible to receive interest subvention under KCC for an additional six months following crop harvest.
• This is to incentivize farmers to store their food in warehouses and to deter them from selling their produce in distress.
• Banks will have access to the applicable rate of interest subvention for that year for the first year on the restructured loan amount in order to help farmers affected by natural disasters.
• After the second year, these modified loans will have regular interest rates.
• In 2024–2025, Aadhaar linking will still be mandatory in order to apply for the aforementioned short-term loans.

Topic: Miscellaneous

4. Life Insurance Corporation of India (LIC) has launched four new term life insurance plans.

• These plans include LIC's Yuva Term, LIC's Digi Term, LIC's Yuva Credit Life, and LIC's Digi Credit Life.
• The plans are available online and offline. In order to cover loan liabilities for things like housing, education, and vehicles, LIC has created a term insurance plan.
• For offline customers, LIC has introduced Yuva Term. Online customers can use LIC's Digi Term.
• Offline consumers can use LIC's Yuva Credit Life program. Digi Credit Life from LIC is exclusively offered online.
• The Yuva Term/Digi Term plan from LIC is a pure risk, non-par, non-linked life insurance for individuals.
• In the unfortunate event that the insured passes away within the policy's term, it offers financial protection to the insured's family.
• Yuva Credit Life/Digi Credit Life from LIC is a non-par, non-linked, individual life insurance plan with pure risk.
• This is a pure diminishing term assurance plan, meaning that as the policy matures, the death benefit will decrease.

Topic: International News

5. Japan, South Korea, and UAE tourists can now avail visa-on-arrival in India.

• Citizens of Japan, South Korea and the United Arab Emirates can now avail visa-on-arrival facility when visiting India for tourism, business, conference and medical purposes.
• This visa is valid for 60 days and has double entry facilities.
• Mumbai, Bangalore, Chennai, Delhi, Hyderabad, and Kolkata are the only six airports where it is available.
• Visa on arrival is a type of visa which is issued to a foreign national upon his/her arrival in a country.
• Application for Visa on Arrival is usually submitted at the airport along with the required documents as instructed by the concerned immigration officers.
• In addition to visa on arrival, e-Visa facility, which includes Electronic Travel Authorization (ETA), is offered to citizens of 167 countries.
• The facility allows entry through 30 designated international airports and six major seaports.

Topic: International Appointment

6. Nobel laureate Muhammad Yunus appointed head of the interim government in Bangladesh.

• The decision to appoint the head of the interim government of Bangladesh was taken during a meeting between President Shahabuddin and the coordinators of the anti-discrimination student movement.
• The final decision on the names of the remaining members of the interim government will be taken after talks with various political parties.
• Earlier, a 13-member team of the Anti-Discrimination Student Movement visited Bangabhaban to discuss the current situation in Bangladesh and the outline of the interim government.
• The political situation in Bangladesh is volatile since Sheikh Hasina resigned from her post on 5 August following growing protests.
• These protests, mainly led by students, turned into anti-government demonstrations demanding the abolition of the quota system in government jobs.

Topic: MoUs/Agreements

7. Nagaland has become first state which have signed an MoU on disaster risk management.

• It has also become the first Indian state which has adopted the Disaster Risk Transfer Parametric Insurance Solution (DRTPS) after signing a MoU with SBI General Insurance.
• The MoU will be effective for three years. The officials of SBI General Insurance and the Nagaland State Disaster Management Authority (NSDMA) signed the MoU.
• It aims to lessen financial losses brought on by extreme events and safeguard vital infrastructure.
• CM Neiphiu Rio stated that whole Nagaland is covered by the insurance. The insurance premium will be paid by the government.
• In the event of a disaster, the insurer will provide assistance for three years from 2024 to 2027.
• An MoU was signed between the Maharashtra government and Toyota Kirloskar Motor.
• This MoU is to set up a manufacturing plant valued at Rs 20,000 crore in Aurangabad Industrial City (AURIC). The plant aims to produce electric and hybrid cars.

Topic: Reports and Indices/Ranking

8. Reliance Industries moved up to number 86 from number 88 on Fortune's Global 500 list for 2024.

• Reliance Industries continues to be the highest ranked Indian company.
• From 155 in 2021, the company has risen 69 spots in the last three years.
• Nine Indian companies are included in this year's Fortune Global 500 list.
• Five of them are from the public sector (IOCL, LIC, ONGC, BPCL and SBI) and four are from the private sector.
• Companies are ranked by total revenues for their respective fiscal years that ended on or before March 31, 2024, in the Fortune Global 500 list.
• In 2023, the Fortune Global 500 achieved a record-breaking $41 trillion in total revenue. This amounts to over one-third of the world's GDP.
• Walmart had $648 billion in revenue, making it the largest firm for the eleventh consecutive year.

Topic: Space and IT

9. China launched the first satellite constellation network to counter Starlink.

• A Chinese state-owned enterprise successfully placed 18 satellites into orbit to counter its own version of US firm SpaceX's Starlink network.
• The low Earth orbit (LEO) satellites have been launched by Shanghai Spacecom Satellite Technology (SSST) from Taiyuan Satellite Launch Center in the northern Shanxi province.
• The satellites were carried through the Long March 6 rocket.
• SpaceX's commercial broadband constellation has about 5,500 LEO satellites in space.
• It will provide internet to consumers, companies and government agencies.
• Low Earth orbit operates at altitudes of 300 km to 2,000 km from the Earth's surface.

Topic: State News/Jharkhand

10. Jharkhand CM launched the ‘Upasthiti Portal’ for Health Department employees.

• Chief Minister Hemant Soren launched the ‘Upasthiti Portal’ on behalf of the Health, Medical Education and Family Welfare Department.
• It will help in recording the daily attendance of all doctors, para-medical workers, contract workers and other workers working under the Health Department.
• Under this portal, cross-verification of biometric attendance will be recorded by the employees of the Health Department.
• The CM has also established a system to establish 24-hour contact between primary health sub-centres and health centres and district hospitals.
• The government will take steps to make the district hospitals of the state operational 24×7.
• Under this, there will be a provision for all types of surgeries with specialist doctors in these hospitals.

Topic: Indian Polity

11. A bill providing representation to Scheduled Tribes in the Goa Legislative Assembly was introduced in Lok Sabha.

• On August 5, a bill was introduced by the Central Government to reserve seats for the Scheduled Tribe community in the Goa Assembly.
• The ST community is demanding that four out of the 40 assembly seats be reserved for them. The Cabinet had passed the draft bill in March.
• Union Law Minister Arjun Ram Meghwal introduced the Readjustment of Representation of the Scheduled Tribes in the Assembly Constituencies of the State of Goa Bill, 2024 in the Lok Sabha.
• The Bill states that as per the 2011 census, there has been a significant increase in the population of Scheduled Tribes in Goa as compared to the 2001 census.
• The total population of Goa is 14,58,545, while the population of Scheduled Tribes is 1,49,275.
• According to the census, the population of Scheduled Castes is 25,449.
• It also said that the Election Commission has no power to determine the number of seats for Scheduled Castes and Tribes in any State before the next census, hence this Bill was brought to provide reservation for the increasing Scheduled Tribe population.
• According to the Bill, the Election Commission will first amend the Delimitation of Parliamentary and Assembly Constituencies Order, 2008 to make way for reservation.
• The Election Commission will also consider the revised population figures of the Scheduled Tribes and readjust the Assembly constituencies after the Bill becomes law.

Topic: Important Days

12. National Handloom Day 2024: 7 August

• Every year on August 7, National Handloom Day is celebrated in India,
• It is observed to commemorate the launch of the Swadeshi Movement in 1905.
• It is also celebrated to recognize the contribution of the handloom industry to socio-economic development and to raise awareness about the industry.
• This year, the 10th edition of National Handloom Day is being celebrated in India.
• National Handloom Day is celebrated all over the country under the aegis of the Ministry of Textiles.
• On the same day in 1905, Swadeshi Movement began. The movement encouraged swadeshi industries and swadeshi spirit, including handloom weavers.
• In 2015, the government decided to designate 7 August as National Handloom Day (NHD).
• The first NHD was observed on 07 August 2015 in Chennai.

Topic: Agriculture and allied sectors

13. Union Agriculture Minister Shivraj Singh Chouhan announced Rs 18,000 crore for 100 horticulture clusters.

• To increase the income of farmers, Union Agriculture Minister Shivraj Singh Chouhan announced Rs 18,000 crore outlay for setting up 100 export-oriented horticulture clusters in the next five years.
• To boost domestic output and reduce imports of cooking oils, the government will launch an oilseeds mission with an outlay of `6,800 crore.
• The government will also make amendments to pesticide management legislation.
• More than 1,500 mandies will be integrated with the e-NAM platform.
• The government has a vision of developing 1,500 new varieties of climate-resilient crops.
• The government is also working to diversify crops, including the farming of flowers, fruits, and medicinal plants.

Topic: Environment and Ecology

14. Government declared Adichunchanagiri a Peacock sanctuary.

• The Central Government has declared Adichunchanagiri in Karnataka and Choolannuar in Kerala as peacock sanctuary.
• The Minister for Environment, Forest and Climate Change has also set up breeding and conservation centres for peacocks. 
• Adichunchanagiri Peacock Sanctuary will provides them with safety. It was established as a sanctuary in 1981 in Karnataka’s Mandya district.
• The Adichunchanagiri Peacock Sanctuary is extremely close to the Chunchanagiri Temple.
• Different species of migratory birds, like Purple Heron, White-necked Stork, Black-headed Ibis, snakebird, etc., are present in this sanctuary.
• Choolannur Pea Fowl Sanctuary is a bird sanctuary located in Chulanur village in Palakkad district of Kerala state,
• The peacock was declared the national bird of India in 1963.