Daily GK Update- 5th Aug, 2022

 

NATIONAL UPDATES:

 

1. 6 National Highway projects launched in MP by Union Minister: In Indore, Madhya Pradesh, 6 National Highway projects totaling 119 km and costing Rs. 2300 crore were formally opened and the foundation stone was laid by Union Minister for Road Transport and Highways Shri Nitin Gadkari. Speaking at the event, Shri Gadkari stated that the projects being launched will facilitate progress by improving connectivity in Indore and the state. Key Points:

a)      Shri Nitin Gadkari said that the Rau Circle traffic problem will be solved and that things would become less congested. Craftspeople, students, and businesspeople in the surrounding areas will have increased chances with simple access from Indore.

b)      The villages in the Indore-Harda segment will be better connected to Indore. He stated that the expansion of the Dhar-Pithampur Industrial Corridor would result in more job opportunities.

c)       According to the Minister, travel times between Tejaji Nagar (Indore) and Burhanpur and Indore and Harda will be shortened, saving fuel. He claimed that travellers heading to Omkareshwar and Khandwa will have easy access to the routes.

d)      The State Government and NHAI signed a memorandum of understanding during this initiative to build ropeways at 14 designated locations in Madhya Pradesh.

 

2. Wild Life (Protection) Amendment Bill, 2021 approved by Lok Sabha: The Wild Life (Protection) Amendment Bill, 2021 is approved by the Lok Sabha. The Wild Life (Protection) Act of 1972 already protects a number of species, but the proposed legislation would also implement CITES, the Convention on International Trade in Endangered Species of Wild Fauna and Flora. The Rajya Sabha still needs to pass the Bill, though.

Wild Life (Protection) Amendment Bill, 2021: Key points:

a)      Development and the environment are accorded equal weight by the government. The number of protected areas in the nation has risen from 693 to 987 over the past eight years, including 52 tiger reserves.

b)      According to Bhupender Yadav, the Union Environment Minister, the government operates under the Vasudhaiva Kutumbakam principle and strives to improve both humankind and all other animal species. The Union Environment Minister has also urged people to avoid purchasing upscale goods derived from animals from threatened or endangered species.

Wild Life (Protection) Amendment Bill, 2021: Changes that are being proposed:

a)      To comply with the international treaty Convention on International Trade in Endangered Species of Wild Fauna and Flora, a specific chapter has reportedly been inserted.

b)      The proposed bill includes revisions for improved management of protected areas as well as justifications for certain approved activities like livestock movement or grazing as well as legitimate local community usage of drinking water until they receive a better relocation strategy.

c)       The Act now includes six schedules for specifically protected animals (four), plants (one), and vermin species (one). Small creatures that spread disease and contaminate food are referred to as vermin.

d)      In the proposed Bill, there are just four schedules overall because: (1) limiting the number of schedules for animals with special protections to two (one for greater protection level); (2) deletes the vermin species schedule, and (3) adds a new schedule for specimens classified in the CITES Appendices (scheduled specimens).

 

3. Ministry for Commerce & Industry: India recognising over 75000 startups so far: Union Minister for Commerce & Industry, Piyush Goyal has announced that India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone which coincides with the 75th year of independence.

About the Startup India program:

a)      Startup India program which was primarily set up to provide an enabling environment for the startups has today evolved into the launchpad for them.

b)      From providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events, the Startup India program has become synonymous with sustainable economic growth.

c)       Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.

d)      An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% yearly increase over the last 6 years.

e)      The fact that about 49% of our startups are from Tier II & Tier III today is a validation of the tremendous potential of our country’s youth.

 

4. Kerala CM launched eggs and milk scheme for Anganwadi children: Kerala Chief Minister, Pinarayi Vijayan has inaugurated a project of the Women and Child Development department. This project help to provide milk and eggs to children at all Anganwadis in the state in a bid to improve their nutrition levels. The state government has set aside over Rs 61.5 crore to include milk and eggs in the Anganwadi menu this financial year. About the eggs and milk scheme:

a)      Under this scheme, which is considered as a first in the country, each child will be given 125 ml of milk two days a week for 44 weeks (10 months) and an egg twice a week.

b)      Under this project, four lakh children in the age group of 3-6 from the 33,115 anganwadis of the state will receive eggs and milk twice a week.

c)       The introduction of milk and eggs for Anganwadi children is intended to improve their nutritional parameters and assumes significance as ending hunger is one of the Sustainable Development Goals (SDGs) established by the United Nations.

Note: Kerala Capital: Thiruvananthapuram; Kerala Chief Minister: Pinarayi Vijayan; Kerala Governor: Arif Mohammad Khan.

 

5. IFS officer Shweta Singh appointed as Director of PMO: According to a Personnel Ministry, 2008 batch Indian Foreign Service (IFS) officer, Shweta Singh was appointed as a director in the Prime Minister’s Office (PMO). The Appointments Committee of the Cabinet (ACC) approved Singh’s appointment for a period of three years from the date of her joining. The ACC has cancelled the appointment of Aniket Govind Mandavgane, a 2009-batch IFS officer, as the Deputy Secretary in the PMO. Mandavgane was on July 18 appointed as the Deputy Secretary.

PMO: The Prime Minister’s Office consists of the immediate staff of the Prime Minister of India, as well as multiple levels of support staff reporting to the Prime Minister. The PMO is headed by the Principal Secretary, currently Pramod Kumar Misra.

 

INTERNATIONAL UPDATES:

 

1. India to host special meeting of UN SC Counterterrorism Committee: In October, India will host diplomats from the UN Security Council‘s 15 member countries for a special counterterrorism meeting. India’s two-year term as an elected non-permanent member of the UN Security Council is halfway over. In December of this year, India’s term on the Council will come to a close, and for that month, it will also serve as President of the influential UN body.

Key Points:

a)      India will welcome diplomats from the 15-nation Security Council, including the US, China, and Russia, for the special meeting of the Security Council Counter-Terrorism Committee in October. India will serve as the committee’s chair until 2022.

b)      Along with the five permanent members China, France, Russia, the UK, and the US, the Security Council currently includes Albania, Brazil, Gabon, Ghana, India, Ireland, Kenya, Mexico, Nigeria, and the United Arab Emirates.

c)       According to information on the Committee’s website, the UN Security Council Counter-Terrorism Committee (CTC) has decided to hold a special meeting on this topic in India on October 29, 2022, with the assistance of its Executive Directorate.

d)      This decision was made in light of the growing threat posed by the misuse of new and emerging technologies.

e)      The Counter-Terrorism Committee does not convene frequently outside of New York, but the meeting in India will be the seventh occasion for this. The CTC had its most recent special meeting outside of the UN headquarters in July 2015 in Madrid, Spain, with a focus on foreign terrorist fighters (FTFs).

 

2. IOCL and Bangladesh ink MoU to supply emergency petroleum products: A Memorandum of Understanding (MoU) for the emergency delivery of petroleum products via Bangladeshi territory to India was signed by the Indian Oil Corporation Limited (IOCL) and the Bangladesh Roads and Highways department in Dhaka. The Indian High Commission stated in a tweet that this is an interim setup to help with the urgent supply of petroleum products due to damage caused by the flood in Assam this year.

Oil tankers will enter from Meghalaya and travel into Bangladeshi territory on their way to Tripura. For use of Bangladeshi land, the IOCL shall be responsible for paying all administrative costs, fees, and local taxes, including the road usage fee. The MoU was signed to permit Indian cars to transfer petroleum from Assam to Tripura by road, which has been badly affected as a result of the recent floods in Assam and Tripura, according to a statement from Bangladesh’s Ministry of Foreign Affairs (MoFA).

Note: IOCL Chairman: Shrikant Madhav Vaidya

Bangladesh’s Prime Minister: Sheikh Hasina Wazed; Bangladesh’s Capital: Dhaka

 

OTHER UPDATES:

 

SPORTS

 

1. Commonwealth Games 2022: Tejaswin Shankar wins India’s first High Jump Medal: India’s Tejaswin Shankar won India’s first medal in athletics at the Commonwealth games 2022, by clinching a historic bronze in the men’s high jump final. Tejaswin, competing for India for the first time in four years nailed a landing of 2.22m to secure a podium finish. He did not have trouble clearing 2.5m and 2.10m in the opening two jumps. Then 2.19m and 2.22m quite easily on the first try. He though failed to clear 2.25 but clinched the bronze medal after being quicker to jump 2.22m against the fourth-placed athlete. He attempted 2.28m on his last jump but failed.

 

2. Commonwealth Games 2022: Tulika Maan wins silver in women’s 78kg judo event: Indian judoka, Tulika Maan settle for a silver medal in the women’s 78kg category in the Commonwealth Games 2022. Tulika Maan gets India’s second silver medal in Judo and third overall in the Judo, as she conceded a defeat by Ippon to Scotland’s Sarah Adlington in the Women’s +78kg final.

 

3. Commonwealth Games 2022: Saurav Ghosal wins India’s first-ever singles medal in squash: India’s Saurav Ghosal has clinched the bronze medal in squash men’s singles by beating James Willstrop of England 11-6, 11-1, 11-4 to take India’s Commonwealth Games 2022. This was also India’s first-ever medal in squash singles at the Games. He had lost the men’s singles semi-final 3-0 (11-9 11-4 11-1) to New Zealand’s Paul Coll.

 

4. Commonwealth Games 2022: Indian weightlifter Gurdeep Singh wins bronze in men’s: India’s Gurdeep Singh won a bronze medal in the men’s 109+kg weightlifting event. Gurdeep lifted a total weight of 390kg (167kg+223kg) in the final, as he won India’s 10th weightlifting medal at the ongoing edition of the Games. Gurdeep joined Gururaja Poojary and Lovepreet Singh to add a third bronze medal in weightlifting for India.

The gold went to Pakistan’s Muhammad Nooh Butt for his Games record-breaking lift of 405kg (173kg+232kg). New Zealand’s David Andrew Liti clinched the silver for his effort of 394kg (170kg+224kg).

 

5. 44th Chess Olympiad: Tania Sachdev Shines in Indian Women Team: Tania Sachdev has registered a 2.5-1.5 win for India against Hungary in the fourth-round match of women section at the 44th Chess Olympiad in Mamallapuram, Chennai. She thrashed Zsoka Gaal to earn a decisive point as well as a match for the team. Koneru Humpy, Dronavalli Harika and R Vaishali ended with a draw in their respective encounters.

 

BANKING AND FINANCE

 

1. RBI permitted use of INR for foreign commerce invoices and payments: Bhagwat Kisanrao Karad, the Union Minister of State for Finance, informed the Rajya Sabha that the Reserve Bank of India (RBI) has permitted foreign trade invoices and payments to be made in the Indian Rupee. By means of a circular titled International Trade Settlement in Indian Rupees (INR) that was published on July 11, 2022, the central bank has permitted payments for international trade in the Indian currency. Key Points:

a)      According to Paragraph 10 of the Circular, the approval process is that banks from partner countries may approach Authorised Dealer (AD) banks in India who may seek approval from RBI with information about the arrangement for the opening of Special INR Vostro accounts.

b)      In order to maintain the Special INR Vostro Account, the AD bank must make sure that the correspondent bank is not from one of the nations or regions listed in the most recent FATF Public Statement on High Risk & Non-Cooperative Jurisdictions, for which FATF has called for countermeasures.

 

BUSINESS AND ECONOMY

 

1. Fortune Global 500 list: LIC breaks into Fortune 500 list: Indian statutory insurance and investment corporation, Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list. The nation’s biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. This is the first outing of LIC on the list, which ranks listed companies by sales.

Indian Companies ranking in the list:

a)      Reliance Industries jumped 51 places to 104 on the 2022 list. Reliance, with revenue of USD 93.98 billion and a net profit of USD 8.15 billion in the latest year, has been on the list for 19 years.

b)      Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190.

c)       The list had two Tata group firms — Tata Motors at 370 and Tata Steel at 435th spot. Rajesh Exports at 437th rank was the other private Indian company on the list.

d)      State Bank of India (SBI) climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd 19 places to 295.

Global companies:

a)      The list, topped by US retailer Walmart, has nine Indian companies — five of them state-owned, and four from the private sector.

b)      Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five.

c)       For the first time, revenues from Global 500 companies in Greater China (including Taiwan) exceeded revenues from US companies on the list, accounting for 31 per cent of the total.

 

AWARDS AND HONOURS

 

1. Bihar’s Langat Singh College astronomy lab included in the Unesco heritage list: The astronomical observatory at the Langat Singh College, commonly known as L.S. College, Muzaffarpur, Bihar is now included in the UNESCO list of Important Endangered Heritage observatories of the world. The college authorities have requested the state government to conserve the old Astro lab as a specimen of the glorious past of the state and also to preserve and promote it as a heritage structure. The UNESCO team member informed him that the astronomical observatory at Muzaffarpur is now on the UNESCO list and it has been uploaded on the UNESCO site.

History of the astronomical observatory:

a)      According to the college records, it was developed in 1916 after a college professor felt the need of an Astro laboratory. Prof Romesh Chandra Sen was eager to have an astronomical observatory at the LS College, and in February 1914 he consulted J Mitchell, an amateur astronomer and principal of Wesleyan College, Bankura in West Bengal, seeking his guidance.  In 1915, the college acquired a telescope, astronomical clock, chronograph and other equipment from England after which the astronomical observatory started functioning in 1916.

Note: UNESCO Founded: 16 November 1945; UNESCO Headquarters: Paris, France; UNESCO Members: 193 countries; UNESCO Head: Audrey Azoulay.

 

OBITUARIES

 

1. Former Australian boxing world champion Johnny Famechon passes away: Former Australian featherweight boxing world champion Johnny Famechon has passed away. He was 77. He was associated with professional boxing for more than 20 years and had a record of 56 wins, which includes 20 by knockout, six draws and five losses. The Australian boxer’s most memorable world title victory was his WBC points decision win against Cuban Jose Legra at London’s Albert Hall in 1969. Famechon boxed professionally for more than 20 years and had a record of 56 wins, 20 by knockout, six draws and five losses.