NATIONAL UPDATES:
1. Union Cabinet approved ‘Agriculture Infrastructure Fund’ for progressive expansion: The Union Cabinet chaired by Prime Minister, Narendra Modi approved the progressive expansion in the Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’ to make it more attractive, impactful, and inclusive. The government has announced a series of measures to expand the scope of Agricultural Infrastructure Fund (AIF) scheme. These initiatives aim to expand the scope of eligible projects and integrate additional supportive measures to foster a robust agricultural infrastructure ecosystem. Since its launch by the Prime Minister in 2020, AIF has been instrumental in supporting the creation of 6623 warehouses, 688 cold stores, and 21 silos projects, resulting in additional storage capacity of about 500 LMT in the country. This includes 465 LMT of dry storage and 35 LMT of cold storage capacity. In addition, infrastructure projects sanctioned under AIF have helped in generating more than 8.19 Lakh rural employment opportunities in the agriculture sector.
2. Union Cabinet approves rolling out Private FM Radio to 234 uncovered new cities & towns: Prime Minister Narendra Modi-led Union Cabinet has approved a proposal for e-auctions to set up 730 channels in 234 new cities across the country with an estimated reserve price of ₹784.87 crore, as part of the initiative to expand the reach of private FM Radio channels. The Cabinet decision on the rollout of private FM Radio to 234 cities and towns will enhance access to diverse and local content, thus encouraging creativity and encouraging local languages as well as cultures. Many of these cities and towns are located in aspirational districts and areas affected by Left-Wing Extremism. A maximum of 100 channels are to be provided in 32 cities/towns of Uttar Pradesh, followed by 68 across 22 cities/towns of Andhra Pradesh, 61 in 20 cities/towns of Madhya Pradesh, and 59 in 19 cities/towns of Rajasthan. While 57 channels will be made available in Bihar, 53 channels have been proposed for Karnataka’s 16 cities/towns, 42 in West Bengal, 36 in Maharashtra, 33 in Tamil Nadu, 31 in Telangana, 28 in Punjab, 24 in Gujarat, 27 in Haryana and 19 in Jharkhand.
3. Cabinet approves 12 Industrial nodes/cities under NICD Programme: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved 12 new greenfield industrial smart cities under the National Industrial Corridor Development Programme (NICDP) to transform the country’s industrial landscape. The combined estimated investment in these industrial areas will be 28,602 crore rupees. These projects will create ten lakh direct and up to 30 lakh indirect jobs. The projects span across ten states and are strategically planned along six major corridors. These are Khurpia in Uttrakhand, Gaya in Bihar, Rajpura-Patiala in Punjab, Zaheerabad in Telangana, Dighi in Maharashtra, Orvakal and Kopparthy in Andhra Pradesh, Palakkad in Kerela, Jodhpur-Pali in Rajasthan, and Agra and Prayagraj in Uttar Pradesh.
4. Sports Minister launches ‘Retired Sportsperson Empowerment Training’ (RESET) Programme: Union Minister of Youth Affairs and Sports Dr. Mansukh Mandaviya has launched the “Retired Sportsperson Empowerment Training” (RESET) Programme on the occasion of National Sports Day in New Delhi. RESET Programme is aimed at empowering retired sportspersons who have played for the country and brought immense laurels to the nation. The programme will support retired athletes on their career development journey by empowering them with the necessary knowledge and skills and making them more employable. The RESET programme will bridge the gap between generations, allowing the unique skills of our retired athletes to benefit the new generation of aspiring athletes. The applications will be invited through a dedicated portal. Initially, the programmes will be of two levels based on educational qualifications of Class 12th and above and Class 11th and below.
5. Gautam Adani replaces Mukesh Ambani as the richest Indian on Hurun list: With a wealth of Rs 11.6 lakh crore, Gautam Adani replaced Mukesh Ambani and clinched the no.1 spot in the 2024 Hurun India rich list. The report says India minted a new billionaire every 5 days last year. Wealth calculations are a snapshot as of 31st July 2024. India is emerging as Asia’s wealth creation engine! While China saw a 25% decline in its number of billionaires, India experienced a 29% increase, reaching a record 334 billionaires. Mukesh Ambani has taken the second top spot in the 2024 Hurun India Rich List, with a wealth of Rs 1,014,700 crore. Shiv Nadar & family of HCL Technologies is in third place this year with a wealth of Rs 314,000 crore. Vaccine maker Cyrus S Poonawalla & family of Serum Institute of India holds the fourth position in the list followed by Dilip Shanghvi of Sun Pharmaceutical Industries.
INTERNATIONAL UPDATES:
1. India to host inaugural World Audio Visual and Entertainment Summit (WAVES) in Goa: The Government of India will host the inaugural World Audio Visual and Entertainment Summit (WAVES) to bolster India’s media and entertainment industry and extend its global influence. The Summit is being held in Goa from November 20th to November 25th this year. The Union Minister of Information and Broadcasting Ashwini Vaishnaw launched 25 Challenges under the ‘Create in India Challenge – Season 1’ on August 22nd. WAVES is poised to become a significant platform for icons of the media and entertainment fraternity worldwide, focusing on entertainment economics and technology.
2. 31 August – International Day for People of African Descent: International Day for People of African Descent i observed every year on 31 August. The International Day for People of African Descent marks a significant milestone in the global recognition of the contributions and challenges faced by individuals of African descent worldwide. On June 19, 2020, the Council adopted a resolution on the “Promotion and protection of the human rights and fundamental freedoms of Africans and people of African descent against excessive use of force and other human rights violations by law enforcement officers.”
3. Iran Village May Record World’s Highest Heat Index: When the heat index reaches 40-54°C, it can pose serious health risks, such as heatstroke, which is a life-threatening condition. Prolonged exposure to such high heat can be extremely dangerous, especially in regions already experiencing intense heat. This extreme heat event in Iran is part of a broader heatwave affecting much of West Asia. In recent weeks, temperatures in the region have reached up to 50°C, making the situation even more concerning.
4. 3rd Edition of India-U.S. Defence Acceleration Ecosystem (INDUS-X): The INDUS-X Summit is a major event where leaders from India and the United States come together to talk about new ideas and technologies in the defense sector. The third edition of this summit is set to take place on September 9-10, 2024, at Stanford University in California. The goal of the summit is to strengthen the collaboration between the U.S. and India, especially in defense innovation.
OTHER UPDATES:
DEFENCE
1. Rajesh Dhankhar takes over as DG of Project Seabird: Vice Admiral Rajesh Dhankhar NM, assumed duties of the Director General Project Seabird, with a charter to oversee the largest defence infrastructure project currently progressing at the Karwar Naval Base, from Vice Admiral Tarun Sobti. VAdm Rajesh Dhankhar was commissioned into the Indian Navy on 01 July 1990 and is a specialist in Navigation & Direction. The Flag Officer is an alumnus of the prestigious Naval Academy, Defence Services Staff College, and has undergone the Higher Command Course in Japan. During his illustrious career spanning 34 years, the Flag Officer has tenanted specialist appointments onboard warships Pondicherry, Godavari, Kora, and Mysore. The officer has also done instructional tenures in the erstwhile Project 15 Training Team, Navigation & Direction School and at the MIDS Wing Officer’s Cadet School, Singapore.
2. India’s 2nd nuclear missile submarine ‘INS Arighat’ commissioned by Rajnath Singh: India’s second nuclear-powered ballistic missile submarine, the INS Arighaat, was commissioned into service at Visakhapatnam in the presence of Defence Minister Rajnath Singh. It joins the first such submarine, the INS Arihant, which was commissioned into service in 2016. The INS Arihant was quietly commissioned into service in August 2016. It has a displacement of 6,000 tonnes and is powered by an 83 MW pressurised light-water reactor with enriched uranium. INS Arighaat retains the same reactor and dimensions, but has several technological upgrades. The completion of the nuclear triad was announced in November 2018, when Prime Minister Narendra Modi announced on social media that INS Arihant had returned from its first deterrence patrol.
SPORTS
1. Shannon Gabriel retires from International Cricket: Shannon Gabriel of the West Indies has announced his retirement from international cricket. Since his West Indies debut in 2012, the right-arm quick played 59 tests, 25 ODIs and two T20 Internationals finishing with 202 wickets across the three formats. Gabriel was more successful in test matches and became a regular member of the West Indies team in 2017. He last played for West Indies in a test match against India in July 2023.
2. Avani Lekhara wins gold medal in para shooting at Paris Paralympics: India’s Avani Lekhara and Mona Agarwal won the gold and bronze respectively in the women’s 10m Air Rifle competition.Avani bettered her previous record set in the Tokyo Games to finish at the top. She finished with a total of 249.7 to achieve the new Paralympic record in the category. Her previous best was 249.6 in the Tokyo Paralympics. Mona won the first medal for the country in the Paris Paralympics on her debut in the Games. Manish Narwal clinched a silver medal in the men’s 10-meter Air Pistol with a score of 234.9. The 22-year-old, who bagged a gold in the Mixed 50-meter Pistol event in the Tokyo Paralympics, held the first spot in the final after an initial round of shots in stage 2, but eventually lost his lead to finish second.
3. Aarti wins Bronze Medal in Women’s 10000m race walk event at World U20 Athletics Championships: In the World U20 Athletics Championships, Aarti won a Bronze medal in the Women’s 10000m race walk event with the National U20 record time to open India’s medal account at Lima in Peru. She clocked 44 minutes 39.39 seconds to finish third in the gruelling event on the penutimate day of competitions. The 17-year-old Aarti broke her own earlier national record of 47 minutes 21.04 seconds which she had clocked in March this year in the National Federation Cup U20 Championships in Lucknow. Chinese race walkers Zhuoma Baima won the gold while and Meiling Chen clinched silver.
4. Women’s Asian Champions Trophy 2024 to begin from 11th Nov at Rajgir: Hockey India has announced that the 8th Women’s Asian Champions Trophy 2024 will begin at Rajgir in Bihar on November 11th this year. The event, a joint effort between Hockey India and the Bihar Government, will take place at the Rajgir Hockey Stadium between 11th November and 20th November. Last year, Hockey Jharkhand hosted the Women’s Asian Champions Trophy in Ranchi, where India emerged as the champion. Besides the defending champions, India, reigning Olympic silver- medallists China, Japan, Korea, Malaysia, and Thailand are expected to participate in this tournament.
5. Dawid Malan retires from International Cricket: Dawid Malan, England’s former world No. 1 T20I batter, has announced his retirement from international cricket at the age of 37. The left-handed batter announced his decision in an interview with British Daily ‘The Times’, following his omission from the upcoming white-ball series against Australia. Malan is one of only two England men’s players, alongside Jos Buttler, to have scored centuries in Tests, ODIs, and T20Is. Despite this remarkable achievement, Malan had not featured for England since last year’s 50-over World Cup in India.
SCIENCE AND TECHNOLOGY
1. Astronomers Discover Brightest Quasar Ever: J0529-4351: J0529-4351 is notable for being exceptionally bright and expanding very quickly. It absorbs mass at a rate of one solar mass (the mass of our Sun) per day and shines more than 500 trillion times brighter than the Sun. According to astronomer Christian Wolf, J0529-4351 is in an extreme environment with high-speed clouds, intense heat, and enormous cosmic lightning storms. This makes it one of the most extreme places known in the universe. Quasars are incredibly bright centers of distant galaxies. They are powered by supermassive black holes at their cores. As gas and dust from the surrounding area fall into these black holes, they produce huge amounts of light and other forms of radiation, making quasars shine extremely brightly.
BANKING AND FINANCE
1. Berkshire Hathaway First Non-Tech Company to Hit $1 Trillion: Buffett is a strong believer in value investing, a strategy he learned from his mentor, Benjamin Graham. This approach involves finding undervalued stocks, meaning they are priced lower than their true worth. Value investors like Buffett look for opportunities where the market has overlooked the potential of a company, aiming to buy these stocks and hold onto them for long-term gains. Buffett started his career as an investment analyst, first working at his father’s firm and later at Graham-Newman Corp., where he further honed his investment skills. By the age of 30, he had already become a millionaire, showcasing his talent for making smart investment decisions. In 1965, he co-founded Berkshire Hathaway with Charlie Munger, who would become a key partner in his investment journey.
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