NATIONAL UPDATES:
1. India's
manufacturing PMI at 4-month high in April on output : According to the monthly
survey, Manufacturing activities in India have been accelerated
further and touched a four-month high in April 2023. Reason: Boosted by
robust new business growth, mild price pressures, better international sales,
and improving supply-chain conditions The S&P Global India
Manufacturing Purchasing Managers' Index has been increased from 56.4
(March 2023) to 57.2 (April 2023). It reflecting a robust and quicker expansion
in new orders.
2. NITI
Aayog released “Best Practices in Social Sector: A
Compendium, 2023”: NITI Aayog has released the “Best Practices in
Social Sector: A Compendium, 2023” in collaboration with the UNDP. Reason: To
commemorate 75 years of India’s independence and highlight and laud the efforts
of Union Ministries and State Governments. This compendium includes 75 case
studies cutting across 14 key social sectors. The aim of this
exercise has been to synthesize lessons for the future to expand,
enhance and improve life at the grassroots level.
3. First
test launch of new low-cost star sensor successfully conducted: A new low-cost star sensor, named ‘StarBerrySense’, developed
by the Indian Institute of Astrophysics (IIA) from off-the-shelf
components, has started functioning properly in its first test launch. It
was put into space by Isro’s PSLV C-55 on April 22, 2023. Function: Quickly
and accurately calculate where a satellite is pointing in space as for any
space mission The start sensor can find its pointing direction in space by
identifying the stars in its field of view.
4. India
sees exports to UAE surging to $50 billion by FY 26/27: India's exports to the UAE are expected to reach $50 billion
by 2026-27 from $31.3 billion at present on the back of the free trade
agreement between the countries. Commerce Secretary Sunil Barthwal has
informed that the trade between India and the UAE has grown significantly after
the implementation of the trade agreement on May 1, 2022. The India-UAE
Comprehensive Economic Partnership Agreement (CEPA) which was signed
between the two nations on 18 February 2022.
5. DRDO
& Indian Navy conduct successful of Air Droppable Container ‘ADC-150’: DRDO and Indian Navy conducted the successful maiden test
trial of ‘ADC-150’ from IL 38SD aircraft, Goa. It is an indigenously
designed and developed Air Droppable Container with a 150 kg payload
capacity. The trial was conducted to enhance the naval operational logistics
capabilities by providing quick responses to meet the requirement of critical
engineering stores to ships. It reduces the requirement for ships to come close
to the coast to collect spares and stores.
6. Three new wildlife conservation reserves declared in
Rajasthan: Rajasthan’s Forest Department has
announced three new conservation reserves that will protect the rare
and endangered wildlife of Rajasthan. These three new wildlife conservation
reserves are Sorsan in Baran, Khichan in Jodhpur, and Hamirgarh in
Bhilwara. With these three new additions, now there are 26 wildlife
conservation reserves in Rajasthan. Some of the well-known conservation
reserves are Bisalpur Conservation Reserve in Tonk, Jodbeed Gadhwala Bikaner
Conservation Reserve in Bikaner, Khetri Bansyal Conservation Reserve in
Jhunjhunu, and Jawai Bandh Leopard Conservation Reserve in Pali.
INTERNATIONAL UPDATES:
1. Inaugural
ASEAN-India maritime exercise in South China Sea:
India has participated in the inaugural edition of the ASEAN-India
Maritime Exercise with its two frontline warships- INS Satpura and
INS Delhi. The harbor phase of the exercise is scheduled to be
held at the Changi Naval Base (Singapore) from May 2-4, while
the sea phase will be conducted from May 7-8 in the South China
Sea INS Delhi is India's first indigenously-built guided missile
destroyer, while INS Satpura is an indigenously-built guided missile
stealth frigate.
2. Australian
announced Government Grant for Project in Kargil: For
the first time in the history of Ladakh the Australian High Commission in
India has announced its Government Grant for a Project in Kargil. This was
announced during a Special Meeting at Srinagar chaired by the Australian
high commissioner to India, Barry O'Farrell. The project
"Return to Roots" aims to integrate traditional knowledge with
the current school science curriculum in alignment with the goals of the
National Education Policy (NEP).
3. Qantas
names Vanessa Hudson as next CEO: Australia’s flagship
carrier, Qantas has named its finance chief Vanessa Hudson as
its new chief executive officer, making her the first woman to
lead the airline. She will succeed Alan Joyce, who will retire in
November 2023. She has been market-facing as CFO since October 2019. She had
held several senior roles there, including chief customer officer and senior
vice president for the Americas and New Zealand.
4. India to join international climate action in civil
aviation from 2027 : India will join the International
Civil Aviation Organization (ICAO) Carbon Offsetting and Reduction Scheme
for International Aviation (CORSIA) and Long-Term Aspirational Goals (LTAG) from
2027. This announcement was made in the meeting of the Consultative Committee
of the Parliament of the Ministry of Civil Aviation under the chairmanship of
Minister Jyotiraditya Scindia. The ICAO has been tasked to reduce carbon
emissions from international civil aviation as one of its focus areas. In order
to mitigate carbon emissions from aviation and its impact on climate change,
the global body has adopted several key aspirational goals. Among them are a
two percent annual fuel efficiency improvement through 2050, carbon neutral
growth and net zero by 2050. The ICAO has clubbed them under CORSIA and LTAG.
5. India to hand over fast Patrol Vessel ship &
landing Craft to Maldives: Defence Minister Rajnath Singh handed over a fast patrol
vessel and a landing craft to the Maldives as India’s “gift” during his
visit to the island nation from May 1 to 3. The Fast Patrol Vessel, capable of
coastal and offshore surveillance at high speeds, was commissioned as MNDF
Coast Guard ship Huravee. Maldives is one of India’s major maritime neighbors
in the Indian Ocean region and overall bilateral relations between the two
countries, including in the areas of defense and security, have been on the
rise over the years. Singh also reviewed the implementation of various
India-aided projects in the Maldives and interact with the Indian expatriate.
6. Margherita Della Valle appointed as CEO of Vodafone: Vodafone Group Plc has
announced Margherita Della Valle, a 29-year veteran of the company,
as its next Chief Executive Officer. Della Valle began her career as one
of the first employees of Italian telecom startup Omnitel, which was acquired
by Vodafone in 2001. Margherita’s previous roles within Vodafone were Deputy
Chief Financial Officer from 2015 to 2018, Group Financial Controller, Chief
Financial Officer for Vodafone’s European region and Chief Financial Officer
for Vodafone Italy.
7. 2 May – World Tuna Day: World Tuna Day is observed every year
on 2 May. Objective – To spread awareness about Tuna fish and its
importance to humans and planet earth. Theme 2023 – The Global Tuna
Industry: Trailblazing through Tough Times The day also promotes the importance
of sustainable fishing practices and educates the world on how tuna have become
endangered species due to the high demand for their meat. World Tuna Day was
established in December 2016 by the United Nations General Assembly, with an
aim to preserve endangered species. This is after the UN general assembly
officially voted to observe the day in its resolution 71/124. In 2017, the
first World Tuna Day was observed. As per the UN, around 7 million metric tons
of tuna and tuna-like species are harvested every year.
OTHER UPDATES:
SPORTS
1. Mairaj
Ahmad Khan, Ganemat Sekhon win gold in ISSF Shotgun World Cup 2023: The Indian shooters, Mairaj Ahmad Khan and Ganemat
Sekhon won India's first gold medal in the ongoing ISSF
World Cup Shotgun 2023, held in Cairo, Egypt. The Indian mixed doubles
pair defeated Luis Raul Gallardo Oliveros and Gabriela Rodriguez 6-0
in the final of the Skeet Mixed Team. While the duo of Simona Scocchetti
and Gabrielle Rossetti from Italy secured their bronze medal in the tournament.
2. Ding Liren becomes China’s first world chess champion
: Ding Liren has become 17th world chess champion – the
first from China – defeating Russia’s Ian Nepomniachtchi in a tie-breaker. Ding
defeated Nepo in the last of the four Rapid tiebreaks. Ding takes over as
winner of the World Chess Championship from Norway’s Magnus Carlsen, who chose
not to defend his title after a 10-year reign. The 30-year-old is the
highest-rated Chinese player in history and the chess world champions in both
the open and women’s category now come from China.
1. Satwiksairaj and Chirag Shetty won men’s doubles at
the Badminton Asia Championships: Satwiksairaj Rankireddy and Chirag Shetty created history
by becoming the first Indian men’s doubles pair to win a gold medal
at the Badminton Asia Championships. The World No. 6 pair defeated the
8th-ranked pairing of One Yew Sin and Teo Ee Yi of Malaysia in a stunning
3-game battle at Sheikh Rashid Bin Hamdan Indoor Hall, Al Nasr Club. This
historic achievement is only the second gold medal India has won at the
Badminton Asia Championships; the first gold medal being won by Dinesh Khanna
in 1965 in the men’s singles category.
BANKING AND FINANCE
1. India,
Russia explore accepting RuPay and Mir cards for easy payments: India and Russia have agreed to explore
the possibility of accepting each other's payment cards, RuPay (India) and
Mir (Russia). Reason: For hassle-free payments between the two countries This
decision was made during the meeting of the Internal Governmental Commission on
Trade, Economic, Scientific, Technological, and Cultural Cooperation
(IRIGC-TEC). This meeting was chaired by the External Affairs Minister of India
S Jaishankar and Russia's Deputy PM Denis Manturov.
2. Tamil Nadu tops market borrowing for third consecutive
year: RBI: For third year in a row, Tamil Nadu has
topped the list of States with the highest market borrowings. According to
RBI data, Tamil Nadu’s gross market borrowings through State Development Loans
(SDLs) stood at ₹68,000 crore during April-February FY23. Andhra Pradesh is in
2nd place with Rs 51,860 crore. Maharashtra is at 3rd place with Rs.50 thousand
crore among the states that have borrowed the most in the country. It is
noteworthy that Tamil Nadu was the state that borrowed the most in the previous
2 financial years i.e. 2020-21 and 2021-22.bIt has been mentioned in the
information published by the Reserve Bank that Tamil Nadu had borrowed
Rs.87,977 crore in the last fiscal year 2020-21 and Rs.87 thousand crore in
2021-22 At the same time, compared to the previous financial years 2020-21 and
2021-22, the loan taken by Tamil Nadu in the financial year 2022-23 has
decreased slightly, and at the same time, Tamil Nadu has received a loan below the
amount recommended by the Finance Commission.
3. HDFC Bank to roll out e-distribution network, cover
50K more villages: HDFC Bank will start onboarding agents of its corporate
business correspondents digitally who can extend services to semi-urban and
rural areas, a move that will help the lender achieve its priority sector (PSL)
lending targets. It is a digital distribution platform that leverages
technology and brings in ease for business correspondents and agents. With
this, they can deliver a host of banking products and services to customers,
especially in semi-urban and rural areas. Right now, HDFC Bank’s services are
available in 150,000 villages. With the launch of Smart Saathi, we aim to cover
200,000 villages over the next 12-15 months. Around 70 percent of the rural
economy is in these villages.
4. GST collection for April 2023 highest ever at Rs 1.87
lakh crore: The gross Goods and Services
Tax (GST) revenue collection increased 12% in April 2023 to
Rs 87 lakh crore. It is the highest monthly mop-up since the inception of
the indirect tax regime in July 2017. The gross GST revenue collected in the
month of April, 2023 is ₹ 1,87,035 crore of which CGST is ₹38,440 crore, SGST
is ₹47,412 crore, IGST is ₹89,158 crore (including ₹34,972 crore collected on
import of goods) and cess is ₹12,025 crore (including ₹901 crore collected on
import of goods). The government has settled ₹45,864 crore to CGST and ₹37,959
crore to SGST from IGST. The total revenue of Centre and the States in the
month of April 2023 after regular settlement is ₹84,304 crore for CGST and
₹85,371 crore for the SGST. The revenues for the month of April 2023 are 12%
higher than the GST revenues in the same month last year. During the month, the
revenues from domestic transactions (including import of services) are 16%
higher than the revenues from these sources during the same month last year.
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