NATIONAL UPDATES:
1. Cabinet approves Nutrient Based Subsidy rates for Rabi Season 2024 on Phosphatic and Potassic (P&K) fertilizers: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal of the Ministry of Chemicals & Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for RABI Season, 2024 (from 01.10.2024 to 31.03.2025) on Phosphatic and Potassic (P&K) fertilizers.The tentative budgetary requirement for Rabi season 2024 would be approximately Rs.24,475.53 crore.The subsidy on P&K fertilizers will be provided based on approved rates for Rabi 2024 (applicable from 01.10.2024 to 31.03.2025) to ensure smooth availability of these fertilizers to the farmers at affordable prices.The government is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers.
2. Gati Shakti Vishwavidyalaya and Monash University Sign MoU to Enhance Railway Engineering Research and Education: Gati Shakti Vishwavidyalaya (GSV) signed an MoU with Monash University, Australia to facilitate collaboration in joint research, education, and executive training in railway engineering through the Monash Institute of Railway Technology (IRT).The establishment of a joint research lab focusing on advanced technological railway engineering will be explored together with opportunities for collaboration on future industrial projects that will return mutual benefits to both parties and advance Australian and Indian railway systems.Gati Shakti Vishwavidyalaya (GSV), Vadodara was established through an Act of Parliament in 2022, to create best in class manpower and talent for the entire transportation and logistics sectors.
3. PMBI and Coal India Limited sign MoU to provide high-quality generic medicines through establishment of Jan Aushadhi Kendras: In a significant milestone under the mission to provide quality generic medicines and surgical equipments at affordable prices to the masses, the Pharmaceuticals and Medical Devices Bureau of India (PMBI) and Coal India Limited have signed an MoU for the opening of Jan Aushadhi Kendras in the premises of every coal field, selected hospitals, or any suitable location specified or decided by Coal India Limited.The objective of this MoU is to provide high-quality generic medicines to the workforce and communities associated with Coal India, through the establishment of Jan Aushadhi Kendras across Coal India premises, these medicines will help workers, residents, and families save out of pocket expenditure, and will give employment opportunities to entrepreneurs in the project areas.
4. Center approves PMJUGA scheme for holistic Tribal Development: The Union Cabinet, in a meeting chaired by PM Narendra Modi has approved a new scheme, Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA) to improve the socio-economic condition of the country’s tribal majority villages and aspirational districts.The scheme seeks to utilise the existing central government scheme to achieve the objectives of the Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA) scheme.Union Finance Minister Niramala Sitharaman proposed the scheme in her 2024-25 Union Budget speech.The duration of the PMJUGA scheme is five years. The total allocation for the scheme is Rs.79,156 crore, of which the central government’s share will be Rs.56,333 crore, and the State government’s share will be Rs. 22,823 crore.The PMJUGA scheme will be implemented in 549 districts and 2,740 blocks in all tribal majority villages and aspirational districts of 30 States / Union Territories.
5. Shriram Finance welcomes Cricket Legend Rahul Dravid as Brand Ambassador: Shriram Finance Ltd, announced the onboarding of Rahul Dravid, former captain and head coach of the Indian cricket team, as its brand ambassador.Rahul Dravid’s association with Shriram Finance represents a perfect blend of two entities that have consistently demonstrated trust, reliability, and excellence in their respective fields.
INTERNATIONAL UPDATES:
1. India-Denmark Maritime collaboration gathers momentum with focus on Green Shipping, Digitalization, and Sustainable Development: India and Denmark’s maritime relations continue to strengthen, with both nations working closely to advance sustainable maritime practices.Under the India-Denmark Green Strategic Partnership, the collaboration has expanded across key areas such as Quality shipping, Cooperation on Port State Control, Maritime training and education, research and development, Piracy, Green maritime technology, shipbuilding, and green shipping.Denmark, a global leader in sustainable maritime technologies, has been sharing its expertise in green and digital solutions, aligning with India’s goals under the Sagarmala initiative and the Maritime India Vision 2030.Both countries are focusing on decarbonisation efforts, with joint projects aimed at developing hydrogen and ammonia-based fuels for ships.India’s Maritime Amrit Kaal Vision 2047 aims to decarbonize its ports, and Denmark’s success in offshore wind energy is expected to further contribute to renewable energy solutions in Indian ports.
2. 18 September – International Equal Pay Day: International Equal Pay Day is celebrated every year on 18 September.This day highlights the effects of the pay gap on women of colour and other minorities.Theme 2024 – Need To Eliminate Wage DiscriminationInternational Equal Pay Day was first observed back in 1996 by the National Committee on Pay Equity. It was a coalition of women’s and civil rights organisations that worked toward eliminating gender and race-based wage discrimination.The goal was to achieve pay equity. It was not until 2019 that the Equal Pay International Coalition began officially marking it as a day to raise awareness. In 2020, the move was recognised by the United Nations and they observed the first International Equal Pay on September 18, 2020.
3. 19 September – International Talk Like a Pirate Day: International Talk Like a Pirate Day is observed every year on 19 September.The day aims to bring people together in the spirit of camaraderie and shared amusement as friends, family and even strangers engage in lighthearted conversations, jokes and activities that let them loose, have a good laugh and momentarily escape the stresses of everyday life.Talk Like a Pirate Day was born in 1995 when two friends from Oregon jokingly created the holiday while playing racquetball. They celebrated it quietly for a few years, sharing the joke with a small group of friends.One day in 2002, they wrote to humor columnist Dave Barry asking him to be the spokesperson for National Talk Like a Pirate Day. Amused by the idea, Barry agreed.
OTHER UPDATES:
DEFENCE
1. Indian Army signs MoU with Tiranga Mountain Rescue to enhance high-altitude operations: The Indian Army has entered an understanding with the Tiranga Mountain Rescue (TMR) at the Centre for Land Warfare Studies in the Delhi Cantonment.This understanding marks a pivotal step in advancing the Indian Army’s rescue and survival operations in mountainous terrains.The MoU stipulates that TMR will collaborate with the Indian Army in conducting customised training programs for Army instructors, aimed at improving their ability to mentor troops in avalanche rescue and survival skills.This MoU builds on the initial agreement made with Northern Command in 2016, which established dedicated avalanche and rescue support by the TMR.Subsequent agreements with Eastern and Central Commands in 2021 and 2024 further expanded this collaboration. The latest MoU will further utilise TMR’s expertise to boost the Indian Army’s capabilities in executing effective rescue operations under demanding conditions.
SPORTS
1. Glasgow to host the 2026 Commonwealth Games: Glasgow, Scotland’s capital, has agreed to host the 2026 Commonwealth Games after the original host, Victoria of Australia, declined due to the rising cost.Glasgow has previously successfully hosted the 2012 Commonwealth Games.The first Commonwealth Games was held in 1930, and countries or territories that are members of the Commonwealth Games Federation, now known as Commonwealth Sport, participate in the Games.The last of six of the seventh edition of the Commonwealth Games has been held in Great Britain or Australia.Scotland, England and Wales constitute Great Britain.
SCIENCE AND TECHNOLOGY
1. Union Cabinet approves Chandrayaan -4 Mission to collect lunar sample: The Union cabinet chaired by the Prime Minister Narendra Modi has approved the mission to moon, named Chandrayaan-4 to develop and demonstrate the technologies to come back to Earth after successfully landing on the Moon and also collect moon samples and analyse them on Earth.This Chandrayaan-4 mission will achieve the foundational technologies capabilities eventually for an Indian landing on the moon (planned by year 2040) and return safely back to Earth.The Chandrayaan -4 mission will collect lunar samples from the moon’s surface and bring them back to Earth. Only three countries—the United States of America, Russia, and China—have successfully brought lunar soil back to Earth.ISRO has been allocated a budget of Rs 2104.06 crore for the Chandrayaan -4 mission to be completed in 36 months.
BANKING AND FINANCE
1. Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre: Leading renewable energy (RE) project developers, manufacturing companies, banks, and financial institutions committed close to $386 billion or around Rs 32.45 trillion to the development of RE projects by 2030.This commitment was made at the inaugural ceremony of the 4th RE-Invest Summit hosted by the Ministry of New and Renewable Energy (MNRE) and, Confederation of Indian Industry (CII).Public sector and private project developers have committed to building close to 570 gigawatts (Gw) of RE capacity. Reliance Industries (RIL) led the pack with a commitment of 100 Gw of capacity addition by 2030. It is followed by NTPC with 41.3 Gw and ReNew with 40 Gw of commitment.Additionally, ReNew will set up 6 Gw of ingot-wafer, solar cell, and module manufacturing.
2. Govt notifies NaBFID as a public financial institution under Companies Act: The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act.This will help the government fortify the nation’s infrastructure finance structures.The Corporate Affairs Ministry said that in exercise of the powers,Section 2 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby notifies the National Bank for Financing Infrastructure and Development as a “public financial institution”.The move will enhance the bank’s capacity to finance large-scale infrastructure projects, thereby bolstering the country’s infrastructure development.NaBFID, a specialised Development Finance Institution (DFI), was set up in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021).
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