Daily Current Affairs and GK | 8 October 2024

Topic: MoUs /Agreements

1. NCERT joined hands with Amazon to improve textbook availability across the country.

• National Council for Educational Research and Training (NCERT) has tied up with Amazon Seller Services Pvt. Ltd to provide original NCERT textbooks at the printed price.
• Education Minister Dharmendra Pradhan announced that these books will be available across the country.
• NCERT will triple-fold the publication of books and publish 15 crore books during the academic year 2025-26.
• Amazon will help NCERT to monitor and take down unauthorized sellers who distribute counterfeit or overpriced books.
• This tie-up will also enable NCERT to get customer reviews and feedback to improve the quality of its textbooks.
• Sales and usage data will be shared with NCERT to facilitate informed decision-making regarding future print orders.

Topic: National News

2. Indian Institute of Foreign Trade will open its first overseas campus in Dubai.

• The India Pavilion at the Expo City in Dubai will host the first overseas campus of the Indian Institute of Foreign Trade (IIFT).
• This campus will be a boon for the 3.5 million-strong Indian community residing in the UAE.
• The Indian Institute of Foreign Trade will collaborate with Expo City Dubai on research projects.
• The Indian Institute of Foreign Trade was established in 1963 as an autonomous body under the Ministry of Commerce.
• IIFT is likely to start by early 2025 with short- and medium-term training programs in Dubai.

Topic: Committee/Commission/Taskforce

3. An internal committee constituted by CBDT for a comprehensive review of the Income Tax Act.

• An internal committee has been constituted by the Central Board of Direct Taxes (CBDT) to oversee a comprehensive review of the Income Tax Act, 1961.
• This Committee has been constituted in pursuance of the announcement made in the Union Budget 2024-25 by Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman.
• The objective of this Committee is to make the Act concise, clear and easy to understand, which will reduce disputes and litigation and provide greater tax certainty to taxpayers.
• The Finance Ministry also invited suggestions from stakeholders, experts and the general public on the Income Tax e-filing portal.
• The suggestions are invited under four categories: Simplification of Language, Litigation Reduction, Compliance Reduction, and Redundant/Obsolete Provisions.

Topic: Banking System

4. UPI (India) and AANI (UAE) to be integrated for seamless cross border transactions between India and UAE.

• Mr Goyal made the announcement while addressing a press conference following the 12th meeting of the India-UAE High-Level Joint Task Force on Investments ((HLJTFI)) in Mumbai on October 7.
• The Managing Director of Abu Dhabi Investment Authority HH Sheikh Hamed bin Zayed Al Nahyan, co-chaired the meeting.
• This will facilitate seamless cross-border transactions between the two countries.
• This will benefit over 3 million Indians living in the UAE and enable them to harness the power of UPI and AANI.
• Additionally, the UAE has agreed to set up food parks in India and an investment of around $2 billion is expected in these food parks over 2-2.5 years.
• These food parks will ensure food security in the UAE and will also help in increasing the income of Indian farmers as well as creating employment for Indian youth.
• Regarding the total trade between both countries after the CEPA (Comprehensive Economic Partnership Agreement), the total trade between both countries has reached $84 billion in 2023–24, and the trade deficit has reduced from $22 billion to $12 billion.
• In 2013, HLJTFI was established to promote trade, investment and economic relations between India and the UAE.

Topic: Sports

5. Olympian Dipa Karmakar announced her retirement from gymnastics.

• Gymnast Dipa Karmakar, a well-known and legendary personality in the sport, has officially declared her retirement from competitive gymnastics.
• Karmakar became the first Indian woman to win in a gymnastics category at the 2014 Commonwealth Games. She won the bronze medal in the vault division.
• She then won another bronze medal at the Asian Championships in 2015.
• Dipa Karmakar made history at the 2016 Rio Olympics as the first Indian female gymnast to qualify for the final vault event, where she achieved a remarkable fourth-place finish.
• At the 2018 Artistic Gymnastics World Cup, she achieved a remarkable feat by winning the gold medal in Turkey, making her the first Indian gymnast to win a gold medal at the global event.
• In 2021, Dipa Karmakar also won the gold medal at the Asian Gymnastics Championships in Tashkent.
• Throughout her illustrious career, Dipa Karmakar has been honoured with numerous prestigious awards, including the Padma Shri, the Arjuna Award, and the Major Dhyan Chand Khel Ratna Award, recognizing her outstanding achievements in sports.

(Source: News on AIR)

Topic: Defence

6. India, Australia, and Japan are participating in Malabar 2024 naval exercise.

• The maritime exercise Malabar 2024 is being conducted from October 8 to 18, which started with the harbour phase at Visakhapatnam and will be followed by the sea phase.
• Australia, Japan and the United States will participate in this year's exercise hosted by India.
• The bilateral exercise between the United States and India began in 1992, with Japan joining permanently in 2015 and Australia joining in 2020.
• Malabar 2024 will focus on enhancing cooperation through activities such as anti-submarine warfare, air defence and surface warfare operations.
• The exercise will involve various Indian naval platforms, including guided missile destroyers, multi-purpose frigates, submarines, fixed wing multi-role fighter aircraft and helicopters.

Topic: Government Schemes and Initiatives

7. A number of key initiatives have been unveiled by Union Health Minister JP Nadda.

• The improved nutrition support for tuberculosis (TB) patients and their family contacts is the goal of these initiatives.
• Shri Nadda informed that under the Nikshay Poshan Yojana, the monthly nutrition support for all TB patients during the treatment period has been increased from the existing Rs 500 to Rs 1000.
• He noted that for all patients with a BMI of less than 18.5, the government has also decided to start supplementing with energy-dense meals.
• Shri Nadda said the Government has also decided to allow expansion of the scope and coverage of the Ni-Kshaya Mitra initiative under the Pradhan Mantri TB Mukt Bharat Abhiyan (PMTBMBA) to include family members of TB patients.
• Under the Ni-Kshay Poshan Yojana (NPY), Mr. Nadda announced, all tuberculosis patients would now receive nutritional support of 3,000 rupees to 6,000 rupees.
• He further emphasised that the increase of NPY support will benefit all 25 lakh TB patients annually.
• He further emphasised that almost 12 lakh underweight patients would benefit from the implementation of Energy Dense Nutritional Supplementation (EDNS).
• During the first two months of treatment, all eligible patients will receive EDNS.
• The government will have to pay an extra 1,040 crores rupees for this initiative.
• The amount will be divided 60:40 between the central government and the state governments.
• The Health Minister announced that Ni-kshay Mitras will offer food baskets to TB patients' household contacts in order to boost their immunity, in addition to helping TB patients.
• It is expected that this initiative will lower the amount of money that TB patients and their families must pay out of pocket.
• He added that 1.13 crore beneficiaries had received payments through Direct Benefit Transfer under the Ni-kshay Poshan Yojana to the tune of 3,202 crore rupees up to this point.

Topic: MoUs/Agreements

8. B2B Framework Agreement has been signed between Nepal and India for the development of petroleum infrastructure in Nepal.

• Indian Oil Corporation Limited and Nepal Oil Corporation (NOC) signed a Business to Business (B2B) Framework Agreement in New Delhi.
• This agreement follows the Government-to-Government Memorandum of Understanding (MoU) signed earlier.
• The MoU was signed between India’s Ministry of Petroleum and Natural Gas and Nepal’s Ministry of Industry, Commerce and Supplies on May 31, 2023.
• The G2G MoU was exchanged in the presence of the Prime Ministers of India and Nepal.
• A 50-kilometer petroleum pipeline from Siliguri, India, to Charali, Jhapa, will be constructed in accordance with the B2B Framework Agreement.
• Likewise, at Charali, a Smart Greenfield Terminal is planned.
• The construction of a 62-kilometer petroleum pipeline from Amlekhgunj to Lothar in Chitwan would be funded by grant from the Indian government.
• Similarly, the NOC will construct a 91,900 kilolitre Smart Greenfield Terminal at Lothar with technical support from the Indian government.
• The entire cost of these projects is about Rs 15 billion.
• The implementation of these projects will facilitate the transit of petroleum products from India to land-linked Nepal.
• As a result, Nepal Oil Corporation will spend much less money because it will depend less on tank trucks.
• The infrastructure will reduce handling losses, environmental hazards, and traffic jams brought on by tank truck transportation.
• The infrastructure will help ensure Nepal's energy security in the event of natural disasters like landslides and floods.

Topic: India and its Neighbours

9. India and Maldives signed several MoUs including the currency swap deal worth $400 million.

• The governments of India and Maldives signed agreements including the launch of the RuPay service.
• Maldives President Mohamed Muizzu was on a four-day visit to India.
• PM Modi and Maldive president Muizzu witnessed the first transaction through India’s RuPay card.
• India and Maldives have also agreed to start talks on a Free Trade Agreement (FTA).
• An MoU was renewed between both countries on cooperation in sports and youth affairs.
• India approved a $400 million and a $357.35 million currency swap agreement.
• Both countries also adopted a comprehensive economic and maritime security partnership.
• India also agreed to repair and refit the Maldivian Coast Guard Ship Huravee on a gratis basis.

Topic: Reports and Indices/Ranking

10. In the last decade, India slipped on the academic freedom index.

• According to the “Free to Think 2024” annual report, India’s rank has declined on the academic freedom index.
• India’s academic freedom has slipped from 0.6 points to 0.2 points from 2013 to 2023
• This report has been published by the Scholars at Risk (SAR) Academic Freedom Monitoring Project.
• SAR is a network of 665 universities including Columbia University, Duke University, and New York University.
• As per the Academic Freedom Index, India is under “completely restricted” status. It is the lowest score of India since the mid-1940s.
• Jawaharlal Nehru University and South Asian University have announced new policies restricting student expression.
• JNU has barred students from protesting near academic buildings.
• More than 200 students from JNU, Jamia Millia University, and Delhi University protesting outside the Israeli Embassy in solidarity with Palestinians were detained.

Topic: Indian Economy

11. LIC increases its stake in Bank of Maharashtra to 7.10% through QIP.

• On October 5, the Life Insurance Corporation of India (LIC) announced in an exchange filing that it had increased its stake in the Bank of Maharashtra from 4.05% to 7.10%.
• This increase follows the allotment of 25.96 crore equity shares through qualified institutional placement (QIP).
• The QIP allotted shares at ₹57.36 each, contributing 3.376% to LIC's new stake.
• In October 4 trading, Bank of Maharashtra shares fell 1.4% to close at ₹ 57.66, while LIC shares rose 0.36% to ₹ 971.
• Earlier, LIC had reduced its stake in Mahanagar Gas by 2% through open market sale.
• Apart from this, LIC reduced its stake in Aurobindo Pharma from 5.01% to 2.265% between November 2021 and September 2024.
• LIC also increased its holding from 7.278% to 9.298% in the railway PSU stock IRCTC in September.
• Qualified Institutional Placement (QIP):
  • It is a capital raising instrument available to listed companies in India.
  • It allows companies to issue equity shares or securities convertible into equity shares to qualified institutional buyers (QIBs) at a discounted price compared to the prevailing market price.
  • This method is preferred due to the speed and flexibility of accessing capital without going through the lengthy public offering process.

Topic:  Important Days

12. Indian Air Force Day 2024: 8 October

• Every year Air Force Day is celebrated on 8 October.
• The Indian Air Force is celebrating its 92nd anniversary with a grand ceremony in Chennai that will showcase the country's air defence capabilities.
• The theme of Air Force Day 2024 is 'Bharatiya Vayusena: Saksham, Sashakt aur Aatmnirbhar' (Indian Air Force: Capable, Strong, and Self-reliant).
• On October 6, 2024, an air show was held at Marina Beach, Chennai.
• On October 8, the official celebration of Air Force Day will be held in a grand closing ceremony.
• Last year, Indian Air Force Day was celebrated in Prayagraj.
• Indian Air Force:
  • It was established on 8 October 1932 and hence, Air Force Day is celebrated every year on 8 October.
  • The President of India is the Supreme Commander of the Indian Air Force.
  • The Chief of Air Staff is Amar Preet Singh. The First Chief of the Air Staff is Sir Thomas Walker Elmhirst.

Topic: Committees/ Commissions/Taskforces

13. Union Health Minister JP Nadda was elected as chairperson of the WHO South-East Asia Regional Committee.

• Union Health Minister JP Nadda has been elected as the Chairperson of the 77th session of the World Health Organization (WHO)’s Regional Committee for Southeast Asia.
• The World Health Organization (WHO)’s Regional Committee meeting has begun in New Delhi.
• The delegates member countries, including Bangladesh, Bhutan, the Democratic People’s Republic of Korea, India, Indonesia, the Maldives, Myanmar, Nepal, Sri Lanka, Thailand, and Timor-Leste.
• This session will focus on enhancing accessible public health systems and addressing epidemiological and demographic challenges.
• Razia Pendse, Chef de Cabinet of WHO highlighted critical challenges facing the region, such as the rising burden of non-communicable diseases (NCDs) and mental health issues.
• JP Nadda also highlighted India’s efforts in tackling non-communicable diseases.

Topic: Awards and Prizes

14. Ambros and Gary Ruvkun won the 2024 Nobel Prize in Medicine.

• Scientists Victor Ambros and Gary Ruvkun have won the 2024 Nobel Prize in Physiology or Medicine for the discovery of microRNA and its role in post-transcriptional gene regulation.
• MicroRNA plays a key role in regulating gene activity.
• In our body, all cells have the same genes but cells perform different functions.
• The winners have been selected by the Nobel Assembly of Sweden’s Karolinska Institute medical university.
• They received a prize of 11 million Swedish crowns ($1.1 million).
• Last year, this award was presented to Hungarian-American Katalin Karikó and American Drew Weissman for their groundbreaking discoveries that enabled the development of mRNA vaccines against COVID-19.

(Source: DD News)