Daily GK Updates – 21st Feb, 2021

 

NATIONAL UPDATES:

 

1. Cabinet approves PLI scheme for telecom sector worth Rs 12,195 crore: The Union Cabinet approved aRs 12,195-crore Production Linked Incentive (PLI) scheme for domestic manufacturing of telecom and networking products such as switches, routers, radio access network, wireless equipment and other IoT access devices. Through this decision, the government aims to offset the imports of telecom equipment worth more than Rs 50,000 crore and reinforce it with “Made in India” products both for domestic markets and exports.

About the PLI scheme: The support under the PLI scheme will be provided to companies manufacturers of specified telecom and networking products in India like Gigabit Passive Optical Networks (GPON), base routers, Dense Wavelength Division Multiplexing (DWDM), Multiprotocol Label Switching (MPLS/ IPMPLS) and 5G/4G radios. The government will soon come up with a PLI scheme to encourage the production of laptops and tablet PCs.

 

2. PM Modi dedicates to the nation and lays foundation stone of key projects of oil and gas sector in Tamil Nadu: Prime Minister Shri Narendra Modi dedicated to the nation and laid the foundation of key projects of the oil and gas sector in Tamil Nadu via video conferencing. PM Modi laid the foundation stone of Cauvery Basin Refinery at Nagapattinam. It will have a capacity of 9 million metric tonnes per annum, and will be set up through a Joint Venture of IOCL and CPCL at an estimated project cost of Rs. 31,500 crore. PM Modi dedicates to the nation and lays foundation stone of key projects of oil and gas sector in Tamil Nadu.

Among the projects dedicated were:

(1) 143 km Ramanathapuram – Thoothukudi natural gas pipeline of ONGC laid at the cost of about Rs. 700 crores. It is the part of the Ennore- Thiruvallur- Bengaluru- Puducherry- Nagapattinam- Madurai- Tuticorin Natural Gas Pipeline.

(2) Gasoline Desulphurisation Unit at Chennai Petroleum Corporation Limited (CPCL), Manali – constructed at the cost of about Rs. 500 crore.

 

3. PM Modi lays foundation stone of Maharaja Suheldev Memorial and Chittaura Lake Development Work at Bahraich in Uttar Pradesh: Prime Minister Narendra Modi laid the foundation stone of Maharaja Suheldev Memorial at Bahraich, Uttar Pradesh, via video conference. PM Modi also laid the foundation stone of the development work of Chittaura Lake in Bahraich. A medical College building named after Maharaja Suheldev was also inaugurated by Modiji. The 2021 event marked the 112th birth anniversary celebration of Maharaja Suheldev. Maharaja Suheldev was the ruler of Shravasti in Bahraich district of Uttar Pradesh, who ruled in the 11th century.

 

4. SpaceKidz India-built Satish Dhawan Nanosatellite to be launched on Feb 28 along with Bhagavad Gita, PM Modi’s photo & names of 25,000 individuals: The Chennai-based SpaceKidz India, has developed the nanosatellite called Satish Dhawan Satellite, or SD SAT. The SD SAT, a 30x10x10cm cuboid, is an experimental communication satellite, to test the capabilities of LoRa(Long range) technology in Space. The indigenously designed and developed miniature spacecraft, will be launched on February 28 by the polar satellite launch vehicle (PSLV), C51 rocket of ISRO (Indian Space Research Organization). Besides its scientific payloads, the nanosatellite will also carry a copy of Bhagavad Gita, a photograph of Prime Mister Narendra Modi, and names of 25,000 common individuals to space. SpaceKidz India is an organisation dedicated to promoting space science among students.

 

5. India accounts for 11% of global death in road accidents: World Bank Report: The World Bank has released a comprehensive report  titled ‘Traffic Crash Injuries and Disabilities: The Burden on Indian Society’  in association with the SaveLife Foundation,  an independent, non-profit, non-governmental organization committed to improving road safety and emergency medical care across India. The report was released by Union transport minister, Nitin Gadkari. The report is based on the data for the year 2019. The World Bank-SaveLife Foundation report highlights the disproportionate impact of a road crash on poor households that pushes them into poverty and debt. It sheds light on the links between road crashes, poverty, inequality, and vulnerable road users in India. Key takeaways from the report:

(1) India has only 1 percent of the world’s total vehicles. However, the country accounts for 11 percent of the global death due to road accidents. This is the highest death rate in the world because of road accident.

(2) 70 percent of the fatalities are the age group of 18 to 45 years, impacting the country as a whole.

(3) Road crash deaths among poor households accounted for 44 percent in rural areas compared to 11.6 percent in urban areas

(4) In India, Low-income household (LIH) spends about 7 months of its income, while a high household income (HIH) spends less than a month’s salary in post-road crash care.

(5) More than 75 percent of poor households in India reported a decline in their income as a result of a road traffic crash.

 

INTERNATIONALUPDATES:

 

1. Georgian Prime Minister Giorgi Gakharia resigns: The Prime Minister of Georgia, Giorgi Gakharia has announced his resignation. The 45-year-old Gakharia served as the Prime Minister from 8 September 2019 to 18 February 2021. He was stepping down because of disagreements within his own team over the decision to arrest Nika Melia, chairman of the United National Movement opposition party.

Note: Georgia Capital: Tbilisi; Currency: Georgian lari.

 

2. Ajai Malhotra becomes first Indian chairperson at UNHRC advisory:Ajai Malhotra became the first Indian to be elected as the Chairperson of the United Nations Advisory Committee of the Human Rights Council. He has been on the Indian team negotiating issues such as biological diversity, climate change, desertification, education, energy, forestry, health, human rights, human settlements, intellectual property, international law, labour, ozone depletion, sustainable development and trade.

About the Ajai Malhotra: Malhotra first joined the Indian Foreign Services in 1977. Malhotra has previously served as ambassador to Russia, Kuwait, Ambassador and Deputy Permanent Representative to the United Nations, New York and Romania.

Note: Human Rights Council Founded: 15 March 2006; Human Rights Council President: NazhatShameem; Human Rights Council Headquarters: Geneva, Switzerland.

 

3. International Mother Language Day: 21th February: The International Mother Language Day (IMLD) is observed annually on 21 February to raise awareness regarding linguistic and cultural diversity and to promote multilingualism. The theme of the Day this year, “Fostering multilingualism for inclusion in education and society”. International Mother Language Day was proclaimed by the General Conference of the United Nations Educational, Scientific and Cultural Organization (UNESCO) in November 1999. The UN General Assembly welcomed the proclamation of the day in its resolution of 2002.

Note: UNESCO headquarters: Paris, France; UNESCO Head: Audrey Azoulay; UNESCO Founded: 16 November 1945.

 

OTHER UPDATES:

 

SPORTS

 

1. Chris Morris becomes IPL’s most expensive player: Former Royal Challengers Bangalore (RCB) superstar and South African all-rounder Chris Morris shattered all records at the Indian Premier League (IPL) 2021 auction in Chennai. Rajasthan Royals went all-out for the South African all-rounder Morris, buying him for a whopping INR 16.25 crore. Morris, who was declared surplus to requirement by the ViratKohli-led side after the conclusion of the IPL 2020 last year, turned out to be the most expensive player bought in the history of the cash-rich tournament.

 

2. Vivo is back as title sponsor for Indian Premier League 2021 Season: The Chinese mobile and technology company brand Vivo has returned as the title sponsors of IPL for the 2021 edition. This was informed by the Indian Premier League Governing Council chairman Brijesh Patel at the IPL 2021 Auction in Chennai. In 2018, Vivo acquired the IPL title sponsorship for Rs 2,199 crore in a five-year deal. However, military clashes at the India-China border in June 2020, led VIVO to pull out as sponsor of the Indian Premier League (IPL). VIVO was then replaced by Indian online gaming platform Dream11 in 2020 season.

 

3. Kings XI Punjab renamed as Punjab Kings ahead of IPL auction: The IPL Franchise, Kings XI Punjab has formally been renamed as Punjab Kings ahead of the Indian Premier League auction. The new brand name and logo of the team was officially released by the management. The Punjab-based IPL franchise ‘Punjab Kings’ is co-owned by Bollywood actress PreityZinta, along with businessman Ness Wadia, Mohit Burman and Karn Paul. The side is currently led by batsman KL Rahul, with former Indian captain Anil Kumble as its head coach.

 

BANKING AND FINANCE

 

1. RBI permits residents to make remittances to IFSCs under LRS: The Reserve Bank of India has permitted resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) in the country. The decision of the RBI is aimed at deepening the financial markets in the IFSCs and providing an opportunity for resident individuals to diversify their portfolios. The RBI has reviewed the extant guidelines on LRS and decided to permit resident individuals to make remittances under LRS to IFSCs set up in India under the Special Economic Zone Act, 2005.

The remittance shall be made only for making investments in IFSCs in securities, other than those issued by entities/companies resident (outside IFSC) in India. Any funds lying idle in the account for a period up to 15 days from the date of its receipt into the account shall be immediately repatriated to domestic INR account of the investor in India.

Note: RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

India’s first IFSC: Gujarat International Finance Tec-City.

 

BUSINESS AND ECONOMY

 

1. Oxford Economics Revises India’s GDP to 10.2% for 2021: The global forecasting firm Oxford Economics has revised India’s economic growth projection for the Calendar year 2021 to 10.2 per cent, compared to a previous estimate of 8.8 per cent. The reason for the upward revision is the receding COVID-19 risks and the shift in the monetary policy outlook. Oxford Economics is headquartered in Oxford, United Kingdom and has 6 office locations across 5 countries. It provides global forecasts and analysis to predict and manage economic risk.

 

OBITUARIES

 

1. Former Union Minister Captain Satish Sharma passes away: Veteran Congress leader and former Union Minister Captain Satish Sharma passed away. He served as the Union Minister of Petroleum and Natural Gas from 1993 to 1996 in the Narasimha Rao government. Captain Satish Sharma was a close aide of former Prime Minister Rajiv Gandhi. He was a three-time Lok Sabha MP, representing Rae Bareli and Amethi constituencies and Rajya Sabha member for three terms representing the states of Madhya Pradesh, Uttarakhand and Uttar Pradesh.