Daily Current Affairs and GK | 7 November 2024

Topic: Indian Economy

1. India’s Services Index reached 58.5 in October.

• India’s services sector witnessed a robust performance in October.
• The Services PMI index climbed to 58.5 up from a ten-month low of 57.7 in September
• This shows a sharp acceleration in business activity.
• As per the report, input costs increased in October. It has grown at its fastest pace in three months.
• In October, the Indian services sector registered strong expansions in output and consumer demand.
• The October PMI results indicate strong momentum in India’s service sector.
• Employment generation hits a 26-month high in the service sector.
• Around 13 percent of panellists reported job creation, compared to 9 percent in September.

Topic: State News/Uttarakhand

2. ADB signed a $ 200 million loan agreement to upgrade water supply and other services in Uttarakhand.

• The government of India and the Asian Development Bank signed a Rs 1,680 crore loan agreement to upgrade water supply, sanitation, mobility, and other urban services in Uttarakhand.
• The agreement will enhance urban services in Uttarakhand to boost livability and sustainability in cities.
• This project aims to create an urban infrastructure that is resilient to climate and environmental risks such as floods and landslides.
• It will also help in building the capacity of the state agencies in project management, climate, and disaster-resilient planning.
• It will enhance transportation, urban mobility, drainage, flood management, and overall public services in Haldwani.
• The project will improve water supply delivery in four cities: Champawat, Kichha, Kotdwar, and Vikasnagar.

Topic: International News

3. Donald Trump won the 2024 US elections.

• With this win, Donald Trump will be sworn in as the 47th US President.
• A presidential candidate needs 270 votes to win.
• After Trump's victory in the crucial states, he currently has 277 electoral votes, while Harris has 224.
• In more than a century, Trump is the first president to win a non-consecutive second term.
• According to the 20th Amendment of the US Constitution, the swearing-in ceremony of the President always takes place on January 20.
• So, on January 20th, President-elect Trump will be sworn in.

(Source: News on AIR)

Topic: Sports

4. Mandeep Jangra won WBF's world title.

• Indian boxer Mandeep Jangra won the World Boxing Federation super featherweight world title in Cayman Islands.
• On October 6, he defeated Britain's Conor McIntosh by 10–0.
• With this, Mandeep became the first Indian boxer to become world champion in any pro-boxing competition category.
• Previously, Mandeep won a silver medal at the 2014 Glasgow Commonwealth Games.
• He has suffered only one defeat in his professional career so far.
• He has won 11 of his 12 bouts, seven of which are knockout wins.

(Source: News on AIR)

Topic: Committee/Commission/Taskforce

5. Madhya Pradesh-Rajasthan joint panel formed for coordination on cheetah project.

• In view of incidents of cheetahs entering from Madhya Pradesh into the neighbouring state of Rajasthan, a joint corridor management committee of both the states has been formed to work for the conservation of these felines.
• The panel will also discuss development of suitable areas for future translocation of cheetahs from Kuno National Park (KNP) and Gandhi Sagar Sanctuary area of Madhya Pradesh and recommend remedial measures including on pre-increase basis.
• A joint chairperson of the committee has been appointed the chief wildlife conservator and the principal chief forest conservator of Madhya Pradesh and Rajasthan.
• As part of India’s cheetah reintroduction project, eight Namibian cheetahs were released into enclosures at Kuno National Park in Sheopur district on September 17, 2022, followed by an additional twelve cheetahs from South Africa in February 2023.
• This year, a cheetah from Kuno National Park strayed into Rajasthan twice—first in May to Karoli district and later in December to Baran district and later brought back to the KNP.
• In the last two years, 17 cheetah cubs were born on Indian soil in KNP.
• Currently, there are 24 cheetahs including cubs, in KNP.

Topic: State News/ Uttar Pradesh

6. The semiconductor project approved by UP Cabinet.

• On 5 November, the Yamuna expressway industrial development authority (Yeida) said that the Uttar Pradesh government’s cabinet has approved a mega project related to semiconductor manufacturing near Noida international airport.
• The authority will now allocate land for the project.
• On November 4, the Uttar Pradesh Cabinet approved setting up of semiconductor manufacturing units by Vamsundari (HCL Group) and Tarq (Hiranandani Group) near the airport at Jewar in Lucknow.
• This paved the way for this mega project, which will boost growth in the region.
• HCL Group's Vamasundari Investment is expected to invest Rs 3,706 crore to set up the manufacturing unit.
• The project plans to manufacture 240,000 units of small panel driver ICs and display integrated circuits.
• Tarq Semiconductor Private Limited will invest Rs 28,440 crore in its unit in this area.
• Both these projects are supported by the state IT department, and will set up a major semiconductor manufacturing unit.
• The government will provide a capital subsidy of Rs 7,037 crore to the firm.

Topic: Government Schemes and Initiatives

7. PM-Vidyalaxmi scheme has been approved by the government to provide financial support to meritorious students.

• In order to pursue higher education, the students will be eligible for loans that are free of collateral and guarantors.

• The program was created to ensure that no Indian youth will be prevented from pursuing high-quality higher education due to financial limitations.
• According to the plan, the government will offer a 75% credit guarantee for loans up to 7.5 lakh rupees in order to help banks increase their coverage.
• Students with an annual family income of up to eight lakh rupees will also be eligible for a three percent interest subvention for loans up to 10 lakh rupees during the moratorium period.
• Seven lakh students are anticipated to benefit from this program.
• Students can apply for an education loan on the unified site PM Vidyalaxmi in order to take advantage of the program.

(Source: News on AIR)

Topic: Corporates/Companies

8. To strengthen FCI, the Cabinet has approved an equity investment of Rs 10,700 crore.

• The Food Corporation of India will get 10,700 crore rupees in new equity from the government.
• This is an important step in improving FCI's operating capability.
• The burden of interest will be lessened with this infusion, which will ultimately lessen the government's need for subsidies.
• The growth in the Minimum Support Price (MSP) and the acquisition of food grains over the past ten years has led to an expansion in the scope of FCI operations.
• Food grain purchase, storage and preservation, transportation, and distribution throughout the nation are among FCI's primary responsibilities.
• With an approved capital of Rs 100 crore and equity of Rs 4 crore, FCI began operations in 1964.
• As a result of its businesses' substantial growth over time, its allowed capital increased to Rs 21,000 crore in February 2023.
• In FY24, FCI's equity amounted to Rs 10,157 crore.

Topic: State News/Uttar Pradesh

9. U.P. government changed guidelines for the appointment of DGP.

• Uttar Pradesh has approved guidelines for appointing DGP through a selection committee.
• The U.P. Cabinet cleared the Director General of Police, Uttar Pradesh Selection and Appointment Rules, 2024.
• The main objective is to establish an independent and transparent mechanism for selecting a suitable person for appointment to the DGP post.
• The selection committee for appointing the new DGP will be headed by a retired High Court judge.
• This committee will consist of the State Chief Secretary, the chairman of the Uttar Pradesh Public Service Commission (UPPSC), the Home Department Additional Chief Secretary or Principal Secretary, and a retired State DGP.
• Eligible candidates must have six months of service remaining on the date of creation of the vacancy. The minimum tenure of the DGP will be two years.
• Currently, the committee to appoint the State DGP is headed by the UPSC Chairperson.

Topic: Reports and Indices/Ranking

10. Singapore is ranked as the world’s most powerful passport on the Henley Passport Index.

• The Henley Passport Index ranks Singapore as the world’s most powerful passport. It has visa-free access to 195 countries.
• Italy, Japan, Germany, Spain, and France are in the second spot.
• Indian passport ranks 83rd with visa-free travel to 58 countries.
• The ranking is based on the number of countries that can be travelled without a visa.
• Austria, Denmark, Finland, Ireland, Luxembourg, the Netherlands, South Korea, and Sweden are in the third spot with visa-free access to 191 countries.
• The United States is in the 8th spot with visa-free access to 186 countries.
• Afghanistan, Syria, Iraq, Yemen, Somalia, and Pakistan are the least powerful passports in the world.

Topic: Corporates/Companies

11. NTPC and ONGC formed a joint venture to tap renewable energy.

• NTPC Limited and Oil and Natural Gas Corporation (ONGC) have formed a joint venture company (JVC) to promote their interests in the renewable and new energy arena.
• This joint venture will use renewable energy and new energy opportunities, including solar, wind and energy storage.
• This joint venture was formed through their green energy subsidiaries, NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.
• It will also focus on new and emerging technologies in the field, such as energy storage including both pump and battery storage.
• The JVC will work to acquire renewable energy assets and will consider participation in upcoming offshore wind tenders in Tamil Nadu and Gujarat.
• ONGC is aiming to acquire more than 1 GW of renewable energy projects to enter the clean energy services market.

Topic: Sports

12. India formally bids to host the 2036 Olympics.

• The Indian Olympic Association (IOA) officially submitted a Letter of Intent to the Future Host Commission of the International Olympic Committee (IOC).
• India has formally desired to host the Olympic and Paralympic Games in 2036.
• 10 countries have shown initial interest in hosting the 2036 Games.
• Mexico, Indonesia, Turkey, Poland, Egypt, and South Korea are the other countries that have shown interest in hosting the 2036 Olympic Games.
• Los Angeles in the USA will host the 2028 Summer Olympics, and Brisbane, Australia, will host the 2032 Games.
• Last year, at the IOC's 141st session in Mumbai, India committed to host the 2036 Olympic Games.

Topic: National News

13. Supreme Court allowed LMV license holders to drive transport vehicles with a weight of up to 7,500 kg.

• Supreme Court said that a person holding a driving licence for a light motor vehicle (LMV) can drive a transport vehicle weighing up to 7,500 kg.
• This judgment has been given by a five-judge Constitution Bench headed by Chief Justice D.Y. Chandrachud.
• The decision came after insurance companies rejected claims due to accidents involved transport vehicles of a particular weight and drivers were not authorized to drive them as per legal stipulation.
• The issue has given rise to various disputes over payment of claims by insurance companies in accident cases.
• There is no empirical data that LMV driving licence holders are responsible for the rise in road accidents in the country.

Topic: Summits/ Conferences/ Meetings

14. Indian Navy hosted the 3rd MAHASAGAR summit on maritime security.

• The third edition of the MAHASAGAR summit on maritime security has been hosted by the Indian Navy.
• MAHASAGAR summit is a bi-annual flagship outreach event to foster collaboration among maritime heads across the Indian Ocean Region (IOR) under the framework of Active Security and Growth for All in the Region.
• ‘Training Cooperation to Mitigate Common Maritime Security Challenges in the IOR’ is the theme of the summit.
• It will bring senior leaders from maritime agencies across the IOR littorals, including Bangladesh, Comoros, Kenya, Madagascar, the Maldives, Mauritius, Mozambique, the Seychelles, etc., to one platform.
• The MAHASAGAR platform will foster dialogue and build partnerships to safeguard the shared maritime space of the Indian Ocean region.