Daily GK Updates - 8th April, 2021

 

NATIONAL UPDATES:

 

1. World Bank approves USD 32 million project to Mizoram: The World Bank Board of Executive Directors has approved a USD 32 million projects to improve management capacity and quality of health services in Mizoram. The project titled “Mizoram Health Systems Strengthening Project” will strengthen the governance and the management structure of the Mizoram Health department and its subsidiaries. This project will support the state government’s efforts to deliver quality healthcare for the poor and vulnerable and those located in remote areas.

About the project: The key focus will be to strengthen the effectiveness of the state health insurance programme, build synergies with the Government of India’s Pradhan Mantri Jan ArogyaYojna (PMJAY), and thereby reduce financial barriers in accessing hospital services, prevent catastrophic out of pocket expenditure for health by poor families and expand coverage. The Mizoram Health Systems Strengthening Project will benefit the people across the state. It will also benefit healthcare personnel by strengthening their planning and management capabilities along with building their clinical skills and competencies.

Note: Chief Minister of Mizoram: Pu Zoramthanga; Governor: P.S. Sreedharan Pillai.

World Bank Headquarters: Washington, D.C., United States; World Bank Formation: July 1944; World Bank President: David Malpass.

 

2. India completes arch of world’s highest railway bridge in J&K: The construction of the arch of the world’s highest railway bridge that soars 359 metres above the bed of the Chenab river in Jammu and Kashmir was completed. The 1.3-kilometre-long bridge aims to boost connectivity to the Kashmir Valley and it is being constructed at a cost of ₹ 1,486 crores as part of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project.

Features of the Arch of the iconic Chenab Bridge:

(1) The construction of the Chenab Bridge was declared as a national project in 2002.

(2) Indian Railways is constructing the iconic Arch Bridge on River Chenab as a part of the USBRL project to connect the Kashmir valley to the rest of the nation.

(3) This bridge is 1315m long.

(4) This is the highest Railway Bridge in the world being 359m above the river bed level.

(5) It will be 35 meters higher than the iconic Eiffel Tower in Paris (France).

(6) The overall weight of Arch is 10,619 MT.

(7) The most sophisticated ‘Tekla’ software used for structural detailing.

(8) Structural steel was suitable for -10°C to 40°C temperature.

(9) Bridge designed to bear earthquake forces of highest intensity zone-V in India.

(10) Bridge designed to withstand high wind speed up to 266 Km/Hour.

 

3. TRIFED launches “Sankalp se Siddhi”- Village and Digital Connect Drive: Tribal Co-operative Marketing Federation of India (TRIFED) has launched Sankalp Se Siddhi – Village & Digital Connect Drive. It is a 100-day drive which was started on the 1st of April. The drive entails 150 teams visiting 10 villages each of which 10 in each region from TRIFED & State Implementation Agencies, visiting 10 villages each. About the Drive:

(1) The main aim of this drive is to activate the Van DhanVikasKendras. Ministry of Tribal Affairs in a statement said that 100 villages in each region and 1500 villages in the country will be covered in the next 100 days.

(2) They will also identify tribal artisans and other groups and empanel them as suppliers so that they can have access to larger markets through the Tribes India network – both physical outlets and TribesIndia.com.

(3) It is expected that Sankalp Se Siddhi will aid in effecting a complete transformation of the tribal ecosystem across the country.

Note: Minister of Tribal Affairs: Arjun Munda.

 

4. Justice N V Ramana to assume charge as next CJI: The senior-most Supreme Court judge Justice NuthalapatiVenkataRamana has been appointed as the next Chief Justice of India (CJI). Justice Ramana would succeed incumbent CJI Sharad Arvind Bobde to take over as the 48th CJI. He would assume charge of the office from April 24, 2021, till August 26, 2022.

Note: Supreme Court of India Established: 26 January 1950.

 

5. Cabinet Appoints Tarun Bajaj as new Revenue Secretary: The Central Government has approved the appointment of Tarun Bajaj as the new Revenue Secretary under the Ministry of Finance. Prior to this, Bajaj, a 1988 batch Haryana-cadre IAS officer, was serving as the Economic Affairs Secretary since April 30, 2020. The cabinet has also approved the appointment of Ajay Seth, a 1987 batch Karnataka-cadre IAS officer, as new Economic Affairs Secretary in place of Bajaj.

 

INTERNATIONALUPDATES:

 

1. Carl Bildt appointed WHO special envoy for ACT-Accelerator: TedrosAdhanom Ghebreyesus, the director-general of the World Health Organization (WHO), appointed Carl Bildt as WHO Special Envoy for the Access to COVID-19 Tools Accelerator (ACT-Accelerator). Bildt succeeds NgoziOkonjo-Iweala and Andrew Witty in the special envoy role. He will help lead the collective advocacy for the ACT-Accelerator in his new role, mobilising support and resources so it can deliver against its strategy for 2021.

About the ACT-Accelerator: The ACT-Accelerator is a groundbreaking global collaboration to accelerate development, production, and equitable access to novel coronavirus disease (COVID-19) tests, treatments and vaccines, according to the WHO website. It brings together governments, scientists, businesses, civil society, and philanthropists and global health organizations. These include the Bill & Melinda Gates Foundation, CEPI, FIND, Gavi, The Global Fund, Unitaid, Wellcome, the WHO and the World Bank.

Who is Carl Bildt:Bildt has served as both prime minister and foreign minister of Sweden and is a renowned international diplomat, having been the European Union Special Envoy to erstwhile Yugoslavia; High Representative for Bosnia and Herzegovina; UN Special Envoy to the Balkans and Co-Chair of the Dayton Peace Conference, according to a press statement by the WHO.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI Monetary Policy: Policy Rate unchanged: The six-member monetary policy committee of the Reserve Bank of India (RBI) headed by Governor Shaktikanta Das, has decided to keep key lending rates unchanged for the fifth consecutive time, in its April 2021 policy review meeting held between April 5 to 7, 2021. The Reserve Bank of India is likely to keep policy rates unchanged amid the uncertainty created by a fresh surge in coronavirus infections.

The key decisions taken in the Monetary Policy Committee meeting are:

Policy Repo Rate: 4.00%

Reverse Repo Rate: 3.35%

Marginal Standing Facility Rate: 4.25%

Bank Rate: 4.25%

CRR: 3%

SLR: 18.00%

RBI Monetary Policy Highlights & Key Decisions:

(1) The Consumer Price Index of 2022 is predicted to be at 5.1%.

(2) RBI has also kept the accommodative monetary stance unchanged.

(3) Meanwhile, the GDP growth of India is projected at 10.5% in the financial year 2021-22.

(4) RBI is to buy Rs 1 lakh crores of G-Sec under the G-Sec Acquisition Programme.

(5) The Apex Bank has increased the centre’s Ways and Means Advances by 46%. The current limit is Rs 32,225 crores. It has now been increased to Rs 47,010 crores.

(6) Maximum End of Pay balance for payment banks has been doubled to Rs 2 lakhs.

(7) Additional liquidity facility of Rs 50,000 crores announced for NABARD, SIDBI and NHB in 2021-22.

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

 

BUSINESS AND ECONOMY

 

1. IMF revises GDP growth forecast of India to 12.5% for FY22: International Monetary Fund (IMF) has raised its growth forecast for the Indian economy by 100 basis points to 12.5 per cent for the fiscal year 2021-22. GDP growth for FY23 is pegged at 6.9 per cent. The revised forecast was published in the IMF’s World Economic Outlook. India is the only country among major world economies that is projected to grow at a double-digit rate during FY22.

 

DEFENCE

 

1. DRDO develops Advanced Chaff Technology to safeguard naval ships: The Defence Research and Development Organisation (DRDO) has developed an Advanced Chaff Technology to safeguard naval ships against missile attack. The development of Advanced Chaff Technology by the DRDO lab is another step towards Atmanirbhar Bharat.

About the Advanced Chaff Technology: Chaff is a passive expendable electronic countermeasure technology used worldwide to protect naval ships from enemy’s radar and Radio Frequency (RF) missile seekers. The importance of this development lies in the fact that a very less quantity of chaff material deployed in the air acts as a decoy to deflect the enemy’s missiles for the safety of the ships.

Defence Laboratory Jodhpur, a DRDO laboratory, has indigenously developed three variants of this critical technology: (1) Short Range Chaff Rocket; (2) Medium-Range Chaff Rocket and (3) Long Range Chaff Rocket.

Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.

 

OBITUARIES

 

1. Former Union Minister and Gujarat MLA DigvijaysinhZala passes away: Former Union Environment Minister and an MLA from Wankaner in Gujarat, DigvijaysinhZala has passed away. The veteran Congress leader became the first Environment Minister of India under the then Prime Minister Indira Gandhi from 1982 to 1984.

 

2. Gita Press president RadheshyamKhemka passes away: The president of Gita Press, RadheshyamKhemka, passed away. He is credited for taking the Sanatan literature to the masses. Khemka for 38 years was the editor of the prominent ‘Kalyan’ magazine printed at the press. He last edited the magazine’s April 2021 issue. Gita Press is the world’s largest publisher of Hindu religious texts.