Daily GK Updates – 29th Jan, 2021

 

NATIONAL UPDATES:

 

1. PM Modi Releases Rs 2,691 Crore for 6.1 Lakh PMAY-G Beneficiaries in Uttar Pradesh: Prime Minister Narendra Modi released financial assistance of Rs 2,691 crore to 6.1 lakh beneficiaries in Uttar Pradesh under the Pradhan Mantri Awas Yojana via video conference. The assistance includes release of first installment to 5.30 lakh beneficiaries and second installment to 80,000 beneficiaries who have already availed of the first installment of assistance under the Pradhan Mantri Awas Yojana Gramin (PMAY-G). So far 1.26 crore houses have already been built across the country under the scheme.

 

2. Finance Ministry Allocates Rs 660 Crore Additional Funds to MP for Citizen-centric Reforms: Madhya Pradesh has become the first state to get additional funds for capital projects for successfully carrying out reforms in various citizen-centric areas.The finance ministry said it has allocated an additional Rs 660 crore to Madhya Pradesh for capital expenditure to undertake citizen-centric reforms. The ministry has allocated this additional funds to the state for capital expenditure for undertaking the ‘One Nation, One Ration Card’ reforms, Ease of Doing Business reforms, and urban local bodies reforms. The state has also completed part of the fourth reform the power sector reforms.

 

3. MP signs MoUs with Kerala to replicate responsible tourism: Madhya Pradesh signed a memorandum of understanding (MoU) with Kerala for replicating the latter’s pioneering Responsible Tourism (RT) initiative. The States signed a joint declaration under which Kerala will extend a series of services under a 16-point programme. With the help of RT Mission of Kerala, the rustic beauty, life and heritage of Madhya Pradesh could be highlighted on the world tourism map.

 

4. Justice Gita Mittal appointed new chairperson of BCCC: Broadcasters industry body Indian Broadcasting Foundation has appointed former Chief Justice of Jammu & Kashmir High Court Justice Gita Mittal as the new Chairperson of Broadcasting Content Complaints Council (BCCC). Mittal succeeds former Supreme Court Judge, Justice Vikramajit Sen, whose tenure as BCCC Chairperson has ended. She served as the first woman Chief Justice of Jammu & Kashmir High Court and is also the first woman Chairperson of BCCC.

 

5. Kolkata Gets First of its Kind Boat Library, to Host Sessions on Book Launches, Music and More: The West Bengal Transport Corporation in collaboration with a heritage book store here has launched a children’s library on a boat, the first of its kind initiative. The idea behind the boat library is that one can read books while appreciating the beauty of Kolkata, cruising on the Hooghly River. Children will be able to choose from a selection of 500 titles in English and Bengali on the Young Readers’ Boat Library. The trip will start at Millenium Park, and the boat will travel to Belur Math jetty and return, he said. There will be three trips on all weekdays. The boat has a free wifi facility as well. A ride on the boat would cost Rs 100 for adults and Rs 50 for children.

 

INTERNATIONAL UPDATES:

 

1. Ageing dams in India, US, other nations pose growing threat: UN report: Over a thousand large dams in India will be roughly 50-years-old in 2025 and such aging structures across the world pose a growing threat, according to a United Nations (UN) report which notes that by 2050, most people on Earth will live downstream of tens of thousands of dams built in the 20th century. The report, titled ‘Ageing water infrastructure: An emerging global risk’ and compiled by United Nations University’s Canadian-based Institute for Water, Environment and Health, says most of the 58,700 large dams worldwide were constructed between 1930 and 1970 with a design life of 50 to 100 years. The analysis includes dam decommissioning or ageing case studies from the U.S., France, Canada, India, Japan, and Zambia and Zimbabwe. The report said that 32,716 large dams (55% of the world’s total) are found in just four Asian countries: China, India, Japan, and South Korea – a majority of which will reach the 50-year threshold relatively soon.

 

2. Jayant Khobragade appointed India’s next Ambassador to ASEAN Secretariat: Jayant N Khobragade has been appointed as the next Ambassador of India to the Association of Southeast Asian Nations (ASEAN) Secretariat in Jakarta, according to the Ministry of External Affairs (MEA).  Khobragade, an IFS 1995 batch officers, is currently serving as a joint secretary in the external affairs ministry. He is expected to take up his assignment shortly.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Overseas investment by Indian companies dips 42% to $1.45 bn in Dec: RBI: Overseas investment by domestic companies fell by over 42 per cent to $1.45 billion in December 2020, according to data from the Reserve Bank of India (RBI). In the year-ago period, companies in India had invested $2.51 billion in their foreign firms (joint ventures or wholly-owned units). In November 2020, the total outward foreign direct investment (OFDI) was of $1.06 billion — which was down by 27 per cent from a month-ago period. Of the total FDI investment by the Indian companies during the month under review, $775.41 million was in the form of equity infusion and $382.91 million was in the form of loan.

 

BUSINESS AND ECONOMY

 

1. States Fiscal Deficit Seen Spiking to Historic High of 4.7%, Says Crisil Report: The combined fiscal deficit of the states will hit a peak of Rs 8.7 lakh crore or 4.7 per cent of their GDP this fiscal on the back of steep fall in tax collections due to disruptions inflicted by the pandemic, according to a report. Revenue of the states have so badly fallen that as much as 70 per cent of the fiscal deficit is contributed by revenue deficit, which normally used to be only around 15 per cent. Tax collections may slowly recover with improving economic outlook. However, higher interest burden because of high debt funding of this year’s GFD, coupled with sticky revenue expenditures, may keep revenue deficits high for States and GFD composition skewed over the next 2-3 years.

 

2. Flipkart-Aditya Birla Fashion deal gets approval from CCI: The Competition Commission of India (CCI) has approved the ₹1,500-crore Flipkart-Aditya Birla Fashion deal, which was announced in October last year. Aditya Birla Fashion’s board had approved plans to raise Rs 1,500 crore by issuing a 7.8 per cent stake on a preferential basis to Walmart-owned Flipkart Group. After the dilution of the 7.8 per cent stake, the promoter and promoter group companies of ABFRL will hold around 55.13 per cent stake.

 

3. NSE remains world’s largest derivatives exchange for 2nd consecutive year: The National Stock Exchange of India Ltd (NSE) remained the world’s largest derivatives exchange for the second consecutive year in 2020 in terms of number of contracts traded, according to the Futures Industry Association (FIA). In addition, the bourse has been ranked fourth in the world in cash equities by number of trades by the World Federation of Exchanges (WFE) for calendar year 2020. The number of new investor registrations witnessed substantial growth in 2020, with 70 lakh new registrations, the highest in a calendar year and 2.3 times the number of registrations in 2019.

 

AWARDS AND HONOURS

 

1. Maha Vir Chakra awarded to Galwan valley hero Col Santosh Babu posthumously: President has approved awards of 455 Gallantry and other Defence decorations to Armed Forces personnel and others. These include one Mahavir Chakra, 5 Kirti Chakras, 5 Vir Chakras, 7 Shaurya Chakras, 4 Bar to Sena Medal (Gallantry), 130 Sena Medal (Gallantry), one Nao Sena Medal (Gallantry), 4 Vayu Sena Medal (Gallantry), 30 Param Vishisht Seva Medal, 4 Uttam Yudh Seva Medal, 51 Ati Vishisht Seva Medal, 11 Yudh Seva Medal, 3 Bar to Sena Medal (Devotion to Duty), 43 Sena Medal (Devotion to Duty) including 2 COVID Warriors, 8 Nao Sena Medal (Devotion to Duty), 14 Vayu Sena Medal (Devotion to Duty), 3 Bar to Vishisht Seva Medal (VSM) including one COVID Warrior and 131 Vishisht Seva Medal including 12 COVID Warriors.

(1) Colonel B Santosh Babu, the Commanding Officer of 16 Bihar Regiment, who lost his life during the Galwan Valley clash last year, will be posthumously awarded with Maha Vir Chakra.

(2) Subedar Sanjiv Kumar of 4th Battalion Parachute Regiment, CRPF Inspector Pintu Kumar Singh, CRPF Head Constable Shyam Narayan Singh Yadav, CRPF Constable Vinod Kumar will be posthumously awarded with Kirti Chakra. Deputy Commandant CRPF Rahul Mathur will be awarded Kirti Chakra.

(3) Naib Subedar Nuduram Soren of 16 Bihar Regiment, Havildar K Palani of 81 Field Regiment, Naik Deepak Singh of Army Medical Corps 16 Bihar Regiment and Sepoy Gurtej Singh of 3rd Battalion Punjab Regiment will be awarded Vir Chakra posthumously. Havildar Tejinder Singh of 3 Medium Regiment will be awarded Vir Chakra.

(4) Major Anuj Sood of 21st Battalion Rashtriya Rifles, Jammu and Kashmir police inspector Arshad Khan, J&K police Selection Grade Constable GH Mustafa Barah, J&K police Constable Naseer Ahmed Kolie and J&K Special Police Officer Bilal Ahmed Magray will be posthumously awarded with Shaurya Chakra.Rifleman Pranab Jyoti Das of 6th Battalion Assam Rifles and Paratrooper Sonam Tshering Tamang will be awarded Shaurya Chakra.

 

2. Philanthropist Ravi Gaikwad conferred Humanitarian Activist Influencer Award: Influencers Awards 2021 presented Ravi Gaikwad with the Humanitarian Activist Influencer Award for his philanthropic work and humanitarian service which he consistently keeps on undertaking for the betterment of society. For his dedication to the service of humanity, Ravi Gaikwad is grabbing the limelight for winning numerous coveted awards like the Nelson Mandela World Humanitarian Award and the Dadasaheb Phalke Award (2020) for his social service and philanthropic work conferred to him by the Legend Dada Saheb Phalke Award Forum.

 

3. Bilkis dadi and Harsh Mander conferred with Quaide Milleth Award: Bilkis Bano, Bilkis Dadi, the octogenarian woman who emerged as the face of Shaheen Bagh protest movement, and prominent civil rights activist Harsh Mander have been conferred with Quaide Millleth award for year 2020. Bano and Mander were presented the award at an event held at India Islamic Cultural Centre in New Delhi. The duo was given a cheque of Rs 2.5 lakh each as award money, a shawl and a memento presented by Navaid Hamid, president of All India Majlis Mushawrat.

 

OBITUARIES

 

1. Former India and Mohun Bagan goalkeeper Prasanta Dora passes away: Former Indian National Football team goalkeeper, Prasanta Dora has passed away. He was represented Tollygunge Agragami, Calcutta Port Trust, Mohammedan Sporting, Mohun Bagan and East Bengal in domestic football. He has also adjudged the Best Goalkeeper when Bengal lifted back-to-back Santosh Trophy titles in 1997-98 and 99. At the national level, Dora made five appearances in competitions such as SAFF Cup and SAF Games.