NATIONAL UPDATES:
1. HPCL inks pact with Sea6 Energy to convert seaweed biomass into fuels: Government-owned oil major HPCL and Sea6 Energy Private Limited have entered into a MoU for R&D collaboration to take up joint development and commercialisation of technologies for valorising seaweed biomass.Under this MoU, HPCL will develop and scale up technologies jointly with Sea6 Energy for the conversion of seaweed biomass into fuels and chemicals. While these technologies are being developed and piloted, Sea6 Energy will also work on the upstream portion of making seaweed farming and harvesting more cost-effective.Seaweeds provide an attractive alternative to traditional biomass as far as biofuel production is concerned because it doesn’t compete with food security, does not require fertilisers or irrigation, and can be practised in areas unsuitable for traditional agriculture such as coastlines.
2. IEPFA and ACCA Sign MoU to Boost Financial Literacy and Investor Protection Across India: The Investor Education and Protection Fund Authority (IEPFA), and the Association of Chartered Certified Accountants (ACCA) have signed an MoU to enhance financial literacy, investor education, and protection in India, focusing on both urban and rural sectors.The collaboration will implement the “Financial Education for You” (FEFY) program, a four-year initiative targeting students in grades 6 to 9 to build a strong foundation for sound financial decision-making.ACCA will provide digital content for free and train school educators to effectively deliver the curriculum, ensuring widespread access to financial literacy tools.The pilot phase will begin in select schools, using interactive and experiential learning techniques to promote responsible financial behavior among students.
3. Rahul Narwekar of BJP re-elected Speaker of 15th Maharashtra Assembly: Rahul Narwekar of the ruling Bharatiya Janata Party was re-elected as the 15th Maharashtra Legislative Assembly Speaker.Rahul Narwekar, who was the Speaker for two and a half years in the previous 14th Legislative Assembly, was elected unopposed.On 6 December, the Governor of Maharashtra, C P Radhakrishnan, administered the oath of Protem Speaker to Kalidas Sulochana Nilkanth Kolambakar.The Protem Speaker administered the oath of office to the newly elected 288 members of the assembly and presided over the election of the Speaker of the House.
4. Rabindra Mahto re-elected Speaker of 6th Jharkhand Legislative Assembly: Rabindra Nath Mahato of the ruling party, Jharkhand Mukti Morcha (JMM), was unanimously re-elected Speaker of the 6th Jharkhand Legislative Assembly.Rabindra Nath Mahato was the Speaker of the previous 5th Jharkhand Legislative Assembly also.Rabindra Nath Mahato is the first person to be elected Speaker of the Assembly for two consecutive terms.Inder Singh Namdhari is the only other person who has been the Speaker of the Jharkhand assembly twice but not for two consecutive terms.
INTERNATIONAL UPDATES:
1. India participates in the 2nd meeting of the Supply Chain Council (SCC) as Vice-Chair, under India-Pacific Economic Framework: India participated in the 2nd meeting of the Supply Chain Council as vice-chair. India was represented by Shri Rajesh Agrawal, Additional Secretary, Department of Commerce.The Chair (United States) of SCC highlighted the significant progress made since the last meeting in September 2024 and shared an update on the APT relating to Chemicals, in efforts are being made, to promote greater chemicals trade and diversify sources through various work streams, and enhance international business matchmaking.The Supply Chain Council was formed under the Agreement relating to Supply Chain Resilience under IPEF to pursue targeted, action-oriented work to strengthen the supply chains for those sectors and goods most critical to national security, public health, and economic well-being in the India-Pacific region which represents about 40 % of Global GDP and 28% of Global trade in goods and service.
2. Mohammad al-Bashir appointed Interim Prime Minister of Syria: The Hayat Tahrir al-Sham, or HTS rebels in Syria, appointed Mohammad al-Bashir as the transitional Prime Minister of Syria after Bashar al-Assad’s government fell.Mohammad al-Bashir will remain the head of the transitional government in Syria until 1st March 2025.Mohammad al-Bashir is part of the rebel jihadist organisation HTS that swept into the capital, Damascus, on 8 December 2024, bringing to an end five decades of rule by Assad’s family.Syrian President Bashar al-Assad fled from the country and is believed to be in Moscow, Russia, which was the biggest supporter of the Assad government and maintains a military base in the country.
3. 12 December – International Universal Health Coverage Day: International Universal Health Coverage (UHC) Day is celebrated annually on December 12 to raise awareness about the need for strong, resilient health systems and universal health coverage.Theme 2024 – Health: It’s on the Government!It was first launched on December 12, 2012, when the United Nations General Assembly (UNGA) unanimously supported the resolution to make UHC a priority of countries as integral and necessary for the fulfilment of human rights and international development In 2014, it was proclaimed as UHC Day by the Universal Health Coverage Coalition. Thus, UNGA declared December 12 International Universal Health Coverage Day in 2017.
OTHER UPDATES:
DEFENCE
1. Nepal Army chief conferred honorary rank by President Murmu: President Droupadi Murmu conferred the honorary rank of ‘General of Indian Army’ on Nepal’s Army chief General Ashok Raj Sigdel at a ceremony in New Delhi.He was honoured for his commendable military prowess and immeasurable contribution to further fostering Nepal’s long and friendly association with India.Since 1950, the army chiefs of Nepal and India have had a unique tradition of being conferred the title of Honorary General.General Sigdel, an alumnus of the Nepali Military Academy, was commissioned into the Nepali Army in February 1987. He assumed command of the Nepali Army as Chief of Army Staff on September 9, 2024.
2. BEML secures ₹136 crore contract from Ministry of Defence for High Mobility Vehicles: Defence PSU BEML Limited has secured ₹136-crore contract to supply indigenously designed High Mobility Vehicles (HMVs) 8×8.These vehicles will be deployed for the Battlefield Surveillance System (BFSS) project.The HMVs will primarily be manufactured at the Palakkad plant, with additional production in other divisions as determined by management based on operational feasibility.
3. Defence Ministry signs ₹13,500-crore deal with HAL for 12 Su-30MKI aircraft: In a significant step toward bolstering India’s defence capabilities and promoting the ‘Aatmanirbhar Bharat’ initiative, the Ministry of Defence (MoD) has signed a contract with Hindustan Aeronautics Ltd (HAL) for the procurement of 12 Su-30MKI aircraft.The deal, valued at approximately ₹13,500 crore, includes associated equipment and is inclusive of taxes and duties. The aircraft will feature a homegrown content of 62.6%, achieved through the indigenisation of numerous components manufactured by the Indian defence industry.The Russian-origin Su-30MKI jets are being procured for the Indian Air Force. These jets are now manufactured by the HAL under an intergovernmental framework.The Su-30MKIs will be produced at HAL’s Nashik division, “The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country.
SPORTS
1. Ladakh to host Khelo India Winter Games from Jan 23: The dates for the Khelo India Winter Games (KIWG) have been announced, with Ladakh set to host the ice events from January 23 to 27, 2025, while Jammu and Kashmir will host the snow events from February 22 to 25, 2025.The Khelo India Winter Games began in 2020. Nearly 1,000 athletes, including 306 women, participated in the inaugural edition.Participation has grown significantly over the years, with more than 1,350 athletes in 2021 and over 1,500 in 2022, reflecting the increasing appeal of the Games in Jammu and Kashmir.The 2024 edition of KIWG witnessed over 1,200 participants, including more than 700 athletes, 141 support staff, 113 technical officials, and over 250 volunteers. A total of 136 medals were contested.
2. Haris and Wyatt-Hodge crowned ICC Players of the Month for November 2024: The International Cricket Council (ICC) has announced the ICC Players of the Month for November 2024 as Pakistan’s Haris Rauf and England’s Danni Wyatt-Hodge.Pakistan pacer Haris wins after his destructive bowling spells in Australia secured Pakistan’s first ODI series victory in the country since 2002, while England’s evergreen Wyatt-Hodge produced trademark fireworks in her side’s convincing short-format victory over South Africa.Both players win their maiden Player of the Month awards.
BANKING AND FINANCE
1. ADB cuts India FY24 GDP growth forecast to 6.5%, 7% in FY25 on weak demand: The Asian Development Bank (ADB) has lowered India’s economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand.The multilateral development bank has also lowered India’s growth forecast for 2025-26 financial year.Asia and the Pacific’s economies are projected to grow 4.9 per cent in 2024, slightly below ADB’s September forecast of 5 per cent.
2. India’s FDI Journey hits $1 Trillion: India has crossed a milestone of $1 trillion in cumulative foreign direct investment (FDI) inflows since April 2000, led by improved global competitiveness, a dynamic innovation ecosystem, and a business-friendly environment, according to the commerce and industry ministry.Taiwanese companies are increasingly shifting their supply chains to India due to global trade tensions, with FDI from Taiwan surpassing $665 million between 2018 and 2024.This achievement was bolstered by a nearly 26% rise in FDI to $42.1 billion during the first half of the current fiscal year, reflecting India’s growing appeal as a global investment destination.Over the last decade (April 2014 to September 2024), total FDI inflows amounted to $709.84 billion, accounting for 68.69% of the overall FDI inflow in the past 24 years.
In June 2024, India saw an increase in outward FDI commitments to $2.14 billion compared to $1.14 billion in June 2023, despite a decrease from $2.22 billion in May 2024.
AWARDS AND HONOURS
1. National Panchayat Awards 2024: The National Panchayat Awards 2024 honoured 45 exceptional Panchayats for their contributions to sustainable and inclusive development in rural India. The event was presided over by the Hon’ble President of India, Smt. Droupadi Murmu, with Hon’ble Union Minister of Panchayati Raj, Shri Rajiv Ranjan Singh alias Lalan Singh.During the prestigious ceremony, 45 Panchayats from diverse regions were honoured in recognition of their exemplary work in rural development. A booklet titled ‘Best Practices on Works of Awardee Panchayats’ was unveiled, documenting the innovative and impactful practices implemented by the award-winning Panchayats. The National Panchayat Awards are usually celebrated on April 24th every year, in conjunction with National Panchayati Raj Day (due to the General Elections to the Lok Sabha held earlier in 2024, the award ceremony was rescheduled to 11th December this year.).
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