NATIONAL UPDATES:
1.
Space Economy To Touch 13 Billion $ By 2025: India’s space economy is likely to
be worth nearly $13 billion by 2025, with the satellite launch services segment
set to witness the fastest growth due to increasing private participation,
according to a report released. Key Points:
a)
India’s
space economy was pegged at $9.6 billion in 2020 and is expected to touch $12.8
billion by 2025, according to the report titled ‘Developing the Space Ecosystem
in India: Focusing on Inclusive Growth’.
b)
In
dollar terms, the satellite services and applications segment would be the
largest with a turnover of $4.6 billion by 2025, followed by ground segment at
$4 billion. The satellite manufacturing stands at $3.2 billion and launch
services at $1 billion.
c)
The
growing demand for smaller satellites is set to boost satellite manufacturing
in the country. It will attract global start-ups in the sector to help incubate
space tech companies here, said the report released by the Indian Space
Association (ISpA) and Ernst and Young.
d)
The
launch services segment was pegged at $600 million in 2020 and is projected to
grow at a compound annual growth rate of 13 per cent to reach $1 billion by
2025, the report said.
e)
India
has of over 100 space tech start-ups with investments in the segment touching
$68 million in 2021.
2. PM
Narendra Modi declared Gujarat’s Modhera as first 24×7 solar-powered village: Prime Minister
Narendra Modi has declared Modhera village in poll-bound Gujarat as the
country’s first 24×7 solar-powered village. Modhera, which is famous for a
centuries-old Sun temple built during the Chalukya, will also be known as a
“solar-powered village”. About the project:
a)
The
Modhera village is located 25 km from the Mehsana district of Gurajat, and
about 100 km from the state capital of Gandhinagar. The village has a
ground-mounted solar power plant, and over 1,300 rooftop solar systems with 1kW
capacity have been installed on houses to generate electricity.
b)
Both
the central and state governments have invested over ₹80 crores in this
solar-development project in two phases, with the state allotting 12 hectares
of area for the project. The Gujarat government had said people in the village
can save 60 per cent to 100 per cent on their electricity bills with this move.
Note: Gujarat Capital: Gandhinagar; Gujarat
Governor: Acharya Devvrat; Gujarat Chief Minister: Bhupendrabhai Patel.
3.
Nitin Gadkari inaugurated Indian Roads Congress in Lucknow: Union Minister of
Road Transport and Highways Nitin Gadkari inaugurated the 81st annual session
of the Indian roads Congress in Lucknow. He was accompanied by the Chief
Minister of Uttar Pradesh Yogi Adityanath. On the occasion, he highlighted the
aims and dreams of Prime Minister Narendra Modi to make the Indian economy
number one in the world, for which good infrastructure is necessary. The new ideas
and initiatives by the IRC will help India to achieve it. Key Points:
a)
In
the inaugural ceremony of the Indian Roads Congress, the Union Minister of Road
Transport and Highways said that by 2024 projects worth rupees five lakh crore
will start in Uttar Pradesh.
b)
The
road projects worth rupees eight crores have been approved for Uttar Pradesh.
c)
The
road projects include 13 Road Over Bridges with a fund of one thousand crore
rupees.
d)
Nitin
Gadkari emphasized the fact that India needs to convert the transport sector
which will help the people of India and reduce pollution.
e)
Chief
Minister Yogi Adityanath highlighted the importance of safe roads which will
decrease road accidents and provide a safer environment.
4.
“Mahakal Lok” 900 m long in MP’s Ujjain to be opened by PM: “Mahakal Lok” corridor first phase of
Mahakaleshwar Temple in the city of Ujjain in Madhya Pradesh, is scheduled to
open by Prime Minister Narendra Modi. It is said that the initiative will
improve pilgrims’ experiences and increase tourism in the area. Shivraj Singh
Chouhan, the chief minister of Madhya Pradesh, examined the Mahakal Lok’s
opening preparations. Mahakal Lok:
a)
The
“Mahakal Lok” over 900-meter-long corridor’s first phase was officially opened
as part of the $856 million Mahakaleshwar Temple corridor development project.
b)
The
cost to create the corridor was 316 crore.
c)
The
old Rudrasagar Lake, which has also been revitalised as part of the development
project around the historic Mahakaleshwar Temple, will be skirted by the
Mahakal Lok.
d)
Two
imposing gateways – Nandi Dwar and Pinaki Dwar – have been erected near the
beginning of the corridor, which winds its way to the temple’s entrance and
provides an aesthetic view along the way.
e)
A
108-pillar colonnade with artistically carved sandstones has been constructed.
On the decorative pillars, artisans and artists primarily from Rajasthan,
Gujarat, and Orissa have laboured.
INTERNATIONAL UPDATES:
1. PM
Narendra Modi addresses UN World Geospatial International Congress: Addressing the
Second United Nations World Geospatial International Congress via video
message, Prime Minister Narendra Modi said that steps taken by India over the
past few years has been of empowering the “last person at the last mile’’,
reflecting the theme of this year’s conference — ‘Geo-Enabling the Global
Village: No one should be left behind’. Key points of speech
a)
Prime
Minister said, “We have been working on a vision of Antyodaya which means
empowering the last person at the last mile, in a mission mode.
b)
450-million
unbanked people, a population greater than that of USA, were brought under
banking net and 135-million people, about twice the population of France, were
given insurance.
c)
Sanitation
facilities were taken to 110-million families and tap water connections to over
60-million households. India is ensuring no one is left behind.
d)
The
PM further pointed out that technology and talent are the two pillars that are
key to India’s development journey.
The theme of UNWGIC 2022 is ‘Geo-Enabling
the Global Village: No one should be left behind’, which focuses on building a
community for human data and geography against the three pillars of sustainable
development for a shared future and a better world, leaving no one behind
within an inclusive and equitable global society. 3. The United Nations Global
Geospatial Information Management (UN-GGIM) convened the conference on UNWGIC
2022 and was organised by the United Nations Department of Economic and Social
Affairs. It was hosted by the ministry of science and technology of the
government of India.
2.
International E-Waste Day: 14th October: Each year, International E-Waste Day is
held on 14 October, an opportunity to reflect on the impacts of e-waste and the
necessary actions to enhance circularity for e-products. International
E-Waste Day was developed in 2018 by the Waste Electrical and Electronic
Equipment recycling (WEEE) Forum to raise the public profile of waste electrical
and electronic equipment recycling and encourage consumers to recycle. 2022 is
the fifth edition of International E-Waste Day.
This year, the main focus of International
E-Waste Day will be those small electrical devices that we no longer use but
keep in drawers and cupboards or often toss in the general waste bin. This is
why International E-Waste Day (#ewasteday) 2022 will be focusing on small items
of e-waste, under the slogan “Recycle it all, no matter how small!”. #ewasteday
will take place on 14 October 2022.
Note: International Telecommunication Union
Headquarters: Geneva, Switzerland; International Telecommunication Union
Founded: 17 May 1865; International Telecommunication Union Secretary-General:
Houlin Zhao.
3.
World Standards Day: 14th October: World Standards Day is marked every year
on October 14 to raise awareness about the importance of using standardised
measurements, technologies, and industries. This day, also known as
International Standards Day, strives to educate consumers, policymakers, and
businesses about the value of standardisation. The day is also used to
commemorate the achievements of scientists for developing voluntary universal
standards that can be used for various measurements. The theme for World
Standards Day 2022 is ‘Shared Vision for a Better World.’ The theme is part of
the IEC, ISO and ITU multi-year campaign to increase understanding about how
standardisation is important to achieve the United Nations’ sustainable
development goals.
World Standards Day History: The International
Organization for Standardisation (ISO) was founded in 1947 with 67 technical
committees. The first World Standards Day, however, was formally inaugurated in
1970 by Faruk Sunter, then-President of the ISO. The date of 14 October was chosen
to commemorate the first meeting of delegates from 25 countries on 14 October
1946 in London, who decided to design a global organisation to facilitate
standardisation. They created the ISO a year later.
Note: International Organization for
Standardization Headquarters: Geneva, Switzerland; International Organization
for StandardizationFounded: 23 February 1947, London, United Kingdom;
International Organization for Standardization President: Ulrika Francke.
OTHER UPDATES:
SPORTS
1.
Harmanpreet Kaur and Mohammed Rizwan seal ICC Player of the Month crowns for
September: The
International Cricket Council (ICC) has announced the winners of the ICC Player
of the Month awards for September 2022. India’s inspirational captain
Harmanpreet Kaur is named the recipient of the ICC Women’s Player of the Month
award, While Pakistan ace Mohammad Rizwan claims the ICC Men’s Player of the
Month award.
Harmanpreet Kaur: Harmanpreet Kaur
becomes India’s first winner of the ICC Women’s Player of the Month. The India
skipper was at her brilliant best during the ODI series, scoring 221 runs
across the three matches, maintaining a strike rate of 103.47 and only being
dismissed once. She displayed control and poise in the first match of the
series at Hove, and her 74 not out helped her side chase down England’s total
of 228 at a canter to win by seven wickets.
Mohammad Rizwan: Mohammad Rizwan
secures his first-ever ICC Men’s Player of the Month crown after a remarkable
spell of scoring throughout September and sees him overcome fellow nominees
Cameron Green (Australia) and Axar Patel (India) to the prize. The Pakistan
star amassed a mammoth 553 runs from ten T20Is, covering performances in the
Men’s Asia Cup and the subsequent home T20I series against a touring England side.
With an eye-catching batting average of 69.12 during the month, the talismanic
opener also registered seven half-centuries to illustrate why he sits atop the
MRF Tyres ICC Men’s T20I batter rankings.
Note: ICC Founded: 15 June 1909; ICC
Chairman: Greg Barclay; ICC CEO: Geoff Allardice; ICC Headquarters: Dubai,
United Arab Emirates.
2.
36th National Games: Pooja Patel becomes first athlete to win Gold in Yogasana:
At
the 36th National Games, Pooja Patel of Gujarat has become the first athlete to
win gold in Yogasana. Yogasana is one of the five sports to be played at the
National Games this year for the first time. This Indian indigenous sport made
its debut at the Khelo India University Games earlier this year.
As far as the medal table of the 36th National
Games is concerned, Services Sports Control Board is leading the chart with a
total of 113 medals, including 51 gold, 33 silver, and 29 bronze. Haryana is
second on the table with 95 medals (31 gold, 29 silver, 35 bronze), followed by
Maharashtra (119), Karnataka (84), and Tamil Nadu (67). Maharashtra has fewer
gold medals than Haryana, which is why it has been placed third on the table.
BANKING AND FINANCE
1.
RBI Launches Concept Note To Create Awareness About Central Bank Digital
Currency (CBDC):
The Reserve Bank of India (RBI) has released a concept note on the Central Bank
Digital Currency (CBDC). The CBDC is a digital form of currency notes issued by
a central bank. While most central banks across the globe are exploring the
issuance of CBDC, the key motivations for its issuance are specific to each
country’s unique requirements.
This Concept Note explains the objectives,
choices, benefits and risks of issuing a CBDC in India, referred to as e-₹
(digital Rupee). The e-₹ will provide an additional option to the currently
available forms of money. It is substantially not different from banknotes, but
being digital it is likely to be easier, faster and cheaper. It also has all
the transactional benefits of other forms of digital money.
Purpose of Concept Note: The purpose
behind the issue of this Concept Note is to create awareness about CBDCs in
general and the planned features of the digital Rupee, in particular. The Note
also seeks to explain Reserve Bank’s approach towards introduction of the digital
Rupee.
2.
Association of Mutual Funds in India: A Balasubramanian re-elected as Chairman:
A
Balasubramanian has been re-elected as the chairman of the Association of
Mutual Funds in India (AMFI), and Radhika Gupta as the vice-chairperson of the
industry body. As the chairman of AMFI, A Balasubramanian will also continue as
the ex-officio chairman of the AMFI Financial Literacy Committee. The chairman
and the vice-chairperson will hold office until the conclusion of the 28th AGM.
At the recently conducted board meeting of
AMFI, post the 27th annual general meeting (AGM) held in September, Vishal
Kapoor (chief executive officer, IDFC Asset Management Co. Ltd.) has been
re-elected as the chairman of the AMFI Committee of Certified Distributors,
while Sundeep Sikka (ED & CEO, Nippon Life India Asset Management Ltd.) has
been elected as chairman of AMFI ETF Committee.
Note: AMFI Founded: 22 August 1995; AMFI
CEO: N.S.Venkatesh (23 Oct 2017–); AMFI Headquarters: Mumbai.
BUSINESS AND ECONOMY
1.
Gross direct tax collection increases by over 23 % to Rs 8,98,000 crore in
current financial year: The gross direct tax collections has increased by over
23 per cent to eight lakh ninety eight thousand crore rupees in the current
financial year as compared to last year. Finance Ministry said, the provisional
figures of direct tax collections still
continue to register steady growth. Direct Tax collection, net of
refunds, stands at seven lakh forty five thousand crore rupees which is 16.3
per cent higher than the net collections for the corresponding period of last
year. The Ministry said, this collection is over 52 per cent of the total
budget estimates of direct taxes for the current fiscal. The refunds amounting
to one lakh 53 thousand crore rupees have been issued during 1st April to 8th
October this year, which are 81 per cent higher than refunds issued during the
same period in the preceding year.
DEFENCE
1.
Indian Naval Ship Tarkash Reaches South Africa for IBSAMAR VII: INS Tarkash reached
Port Grequhrea which is also known as Port Elizabeth in South Africa. INS
Tarkash will participate in the seventh edition of IBSAMAR, a joint
multinational maritime exercise among Indian, Brazilian, and South African
Navies. The harbor phase of IBSAMAR VII includes professional exchanges such as
damage control and fire-fighting drill and interaction among special forces.
Key Points: The previous
edition of IBSAMAR (VI) was conducted in Simons Town, South Africa. The Indian
Navy is represented by the Teg Class guided missile frigate, INS Tarkash, a
Chetak Helicopter, and the personnel from the Marine Commando Force (MARCOS).
The joint maritime exercise will strengthen maritime security, joint
operational training, sharing of best practices, and building interoperability
to address common maritime threats.
About IBSAMAR: IBSAMAR is the
abbreviation of India-Brazil-South Africa Maritime. It is a series of naval
exercises between the navies of India, Brazil, and South Africa. The previous
edition which is IBSAMAR VI was held in Simons Town, South Africa in which INS
Tarkash, INS Kolkata, BNS Barroso, SAS Amatola, SAS Protea, and SAS Manthatisi participated.
OBITUARIES
1. Padma Shri Dr Temsula Ao passes away: Former chairperson of Nagaland State Commission for Women, academician, renowned writer and Padma Shri Dr Temsula Ao passed away at a private hospital in Dimapur. She was 80. Dr Temsula Ao, who was known as a leading literary voice in the northeast, was awarded Padma Shri in 2007. She was a recipient of the Nagaland Governor’s Award for Distinction in Literature, the Meghalaya governor’s Gold Medal and the Sahitya Akademi Award, among other recognitions.
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