Daily GK Updates – 2nd Feb, 2021

 

NATIONAL UPDATES:

 

1. Centre Approves ‘Startup India Seed Fund Scheme’: The Central Government has approved the Rs 945-crore ‘Start-up India Seed Fund Scheme’ (SISFS), which aims to provide financial assistance to start-ups for the product trials, market-entry, proof of concept, prototype development and commercialization. The Rs 945 crore Startup India Seed Fund Scheme (SISFS) will become operational from April 1 of this year till 2025 and this will be disbursed through selected incubators across India, according to a gazette notification by the government. The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DIIT). The funds under the scheme will be disbursed through the selected incubators across the country. The startup will receive seed support only once.

Eligibility criteria for startups: The incubator should be operational for at least two years on the date of application to the scheme. The incubator must have facilities to seat at least 25 individuals. The incubator must have at least five startups undergoing incubation physically on the date of application. The incubator must have a full-time Chief Executive Officer, experienced in business development and entrepreneurship.

 

2. Lucknow metro becomes first to sanitise coaches using UV rays: Lucknow Metro has become the 1st metro in the country to use ultraviolet rays to sanitise train coaches. For this, the LMRC has procured UV sanitization apparatus from M/s FB TECH, an Indian firm in Jaipur, Rajasthan. The Uttar Pradesh Metro Rail Corporation (UPMRC) has taken inspiration from the New York Metro’s experiment to sanitise trains with UV lamp rays. The apparatus, which was certified by the Defence Research and Development Organisation (DRDO) in October 2020, sanitizes the entire coach in just seven minutes.  However, in order to keep the train bacteria-free, the LMRC is sanitising each coach for 15 minutes. This is the same apparatus which was also used by the medical industry to sanitise cinema halls and medical equipment at the peak of the coronavirus pandemic in India. This apparatus is operated through a remote and has a switch on/off button. The radiation starts after a minute of pressing the on button. In addition, the initiative is economically cheaper than sanitization through manual mode.

Note: Uttar Pradesh Capital: Lucknow; Uttar Pradesh Governor: Anandiben Patel; Uttar Pradesh Chief minister: Yogi Adityanath.

 

3. Airtel announces 5G ready network in Hyderabad: Bharti Airtel took an edge by becoming the first telecom operator in India to demonstrate 5G services successfully. Bharti Airtel announced that it orchestrated live fifth-generation (5G) service over a commercial network in Hyderabad.

Important Point: Bharti Airtel explained that it used state of the art dynamic spectrum sharing so as to operate both 4G and 5G networks in the same spectrum block. One of India’s major telecom companies managed to do this atop the existing spectrum in the 1800 MHz band through the Non-Stand Alone (NSA) network technology. Airtel claimed that it took only a few seconds to download a full-length film during its demonstration of the 5G network. The company said that the 5G network could deliver ten times the speed and latency attained previously with 100 times the concurrency when compared to the technology in use. The government is conducting the auction of 2,251 MHz of spectrum through the Department of Telecommunications (DoT) at a reserve price of Rs 3.92 trillion from March 1, 2021. The government has not included the spectrum in the 3,300-3,600 MHz bands recommended for 5G by the telecom operators.

Note: Bharti Airtel CEO: Gopal Vittal; Bharti Airtel Founder: Sunil Bharti Mittal; Bharti Airtel Founded: 7 July 1995.

 

4. Environment Minister releases National Marine Turtle Action Plan: National Marine Turtle Action Plan has been recently released by the Ministry of Environment Forest and Climate Change (MoEF&CC) in New Delhi. The Ministry also released the ‘Marine Mega Fauna Stranding Guidelines’ along with the Marine Turtle Action Plan.

Important points: National Marine Turtle Action Plan and Marine Mega Fauna Stranding Guidelines have been released acknowledging the need for a conservation paradigm for marine turtles and marine megafauna. At the launch, the minister called for conserving both floral and faunal diversity including marine biodiversity. Both these documents include the ways and measures to promote inter-sectoral action for conservation. The documents also provide guidance for enhanced coordination amongst the government, all relevant stakeholders, and civil society on the response to cases of entanglement, stranding, injury, or mortality of marine mammals. All of them should also have better coordination to chalk out plans for the conservation of marine turtles.

Note: Minister of Environment, Forest and Climate Change: Prakash Javadekar.

 

5. Indian Coast Guard celebrates its 45th Raising Day: 1st February: The Indian Coast Guard (ICG) is celebrating its 45th Raising Day on 01 February 2021. The ICG was formally established on February 1, 1977, by the Coast Guard Act, 1978 of the Parliament of India. It operates under the Ministry of Defence. Beginning with just 7 surface platforms in 1978, ICG currently comprise of 156 ships and 62 aircraft in its inventory and is likely to achieve targeted force levels of 200 surface platforms and 80 aircraft by 2025.

 

INTERNATIONAL UPDATES:

 

1. India ranks 10th in ‘Asia-Pacific Personalised Health Index’: India ranked 10th out of 11 Asia Pacific countries in a newly-launched health index to measure the progress towards personalised healthcare. Singapore (1st), Taiwan (2nd), Japan (3rd) and Australia (4th) also performed well in overall readiness. These include Policy Context, Health Information, Personalised Technologies and Health Services.

About the Economist Intelligence Unit (EIU) report: The Economist Intelligence Unit (EIU) report ”Asia-Pacific Personalised Health Index” measures the readiness of 11 health systems across the region–Australia, China, Japan, India, Indonesia, Malaysia, Singapore, South Korea, Taiwan, Thailand and New Zealand–in adopting personalised healthcare, enabling the right care to be tailored to the right person at the right time. The ‘Personalised Health Index’ measures performance against 27 different indicators of personalised health across four categories called ”Vital Signs”.

 

2. Prakash Javadekar launches 2021 as Indo-French Year of the Environment: The Union Minister of Environment, Forest & Climate Change Prakash Javadekar has launched the Indo-French Year of the Environment, along with Barbara Pompili, the French Minister for Ecological Transition in New Delhi. The basic objective of this partnership is to strengthen Indo-French cooperation in sustainable development, increase the effectiveness of actions in favour of global environment protection and give them greater visibility.

About the collaboration: This collaboration and the Indo-French Environment year will be held under the Ministry of Ecological Transition, in association with the Ministry of Europe and Foreign Affairs along with the support of the Embassy of France in Delhi and its partners from the French side. The Indo-French Year of the Environment is the Indo-French partnership on Environment, Biodiversity, Climate Change and other allied areas to be undertaken throughout 2021. The Indo-French Year of the Environment will be implemented over the period 2021-2022.

Note: France Capital: Parisl France President: Emmanuel Macron; France Prime minister: Jean Castex; France Currency: Euro.

 

3. World Wetlands Day: 2nd February: The World Wetlands Day is observed every year on February 2 globally. The day is celebrated to mark the date of the adoption of the Convention on Wetlands on February 2, 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea. World Wetlands Day was first celebrated in 1997. 2021 marks 50 years of the Convention on Wetlands. The international theme for World Wetlands Day 2021 is ‘Wetlands and Water’.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI cancels Ranji Trophy 2020-21 for first time: The Board of Control for Cricket in India (BCCI) has decided not to conduct the Ranji Trophy in 2020-21. This will be the first time in 87 years since its inception in 1934-35, that India’s premier first-class cricket national championship will not be held in 2020-21 domestic season. Instead on Ranji Trophy, BCCI has decided to conduct the Vijay Hazare Trophy 50-over tournament and Senior Women’s One Day tournament after the completion of the Syed Mushtaq Ali Trophy T20 tournament.

 

2. Sports Minister Rijiju launches anti-doping reference material: Union Minister of Youth Affairs & Sports, Kiren Rijiju has launched a breakthrough Reference Material for use in chemical testing in the field of anti-doping. A reference material jointly synthesised by the National Dope Testing Laboratory (NDTL) and National Institute of Pharmaceutical Education and Research (NIPER), Guwahati. The Memorandum of Understanding (MoU) between NDTL and NIPER Guwahati was signed in August 2020 which proposes to synthesize 20 rarely available Reference Materials (RMs) during a period of 3 years.

What is Reference Material: This Reference Material (RM), has been identified by NDTL as one of the rarely available RMs globally and would be used to strengthen anti-doping measures in all World Anti Doping Agency (WADA)-accredited laboratories.

Note: President of WADA: Sir Craig Reedie; Headquarters: Montreal, Canada; Founded: 10 November 1999.

 

BANKING AND FINANCE

 

1. SBI Card appoints Rama Mohan Rao Amara as MD & CEO: SBI Cards and Payment Services Ltd (SBI Card) has appointed Rama Mohan Rao Amara as its Managing Director and Chief Executive Officer for a period of two years. Rao is a veteran banker, with a successful career spanning over 29 years at SBI, the credit card company. Prior to taking charge at SBI Card, he was the Chief General Manager, SBI Bhopal Circle. Earlier this week, Ashwini Kumar Tewari had resigned from the post of MD and CEO of SBI Card owing to his appointment as the Managing Director of State Bank of India (SBI).

Note: SBI Card Founded: October 1998; SBI Card Headquarters: Gurugram, Haryana.

 

BUSINESS AND ECONOMY

 

1. FDI into India increases 37% to $43.85 billion during Apri-Nov 2020: Foreign direct investment (FDI) into India increased by 37 per cent to USD 43.85 billion during April-November 2020, according to data by the commerce and industry ministry. Total FDI inflows (including reinvested earnings) during the eight-month period of the current fiscal grew by 22 per cent to USD 58.37 billion, the ministry said

 

2. Global public debt likely to touch 98% of GDP in 2020 amid Covid crisis: IMF: Global public debt is estimated to touch 98 per cent of GDP at the end of 2020, International Monetary Fund (IMF) said in its latest fiscal monitor update, according to which India’s government debt is expected to remain elevated at 83 per cent of GDP. The COVID-19 pandemic has posed a severe challenge to public finances, the report said noting that the contraction in output and ensuing fall in revenues, along with emergency lifelines, boosted government deficits and debts beyond levels recorded during the global financial crisis. Noted that global public debt is projected to edge up further from 98 per cent of GDP in 2020 to almost 100 per cent of GDP in 2021 driven by advanced and emerging market economies.

 

AWARDS AND HONOURS

 

1. Tamil translation of French novel wins Romain Rolland Book Prize at Kolkata: The Tamil translation of French novel ‘Le mariage de plaisir’ won the Romain Rolland Book Prize at the three-day Apeejay Kolkata Literary Festival in Kolkata. The winners of the prize are translator Dr S A Vengada Soupraya Nayagar and publisher Amutharasan Paulraj of Thadagam Publishers for the Tamil translation of the book, authored by Tahar Ben Jelloun. The publisher and translator will be invited by the French Institute in India to the Paris Book Fair 2021 (Livre Paris 2021) where India will be the guest of honour.

 

OBITUARIES

 

1. Social scientist, economist Shaibal Gupta passes away: Patna-based social scientist and popular economist Shaibal Gupta passed away. He was 67. Mr. Gupta founded the Asian Development Research Institute (ADRI) and was member-secretary of it since the beginning. His contribution to the field of development economics, in general, and development challenges of Bihar, in particular, had received wide attention in both India and abroad.

Daily GK Updates – 1st Feb, 2021

 

NATIONAL UPDATES:

 

1. Union Budget 2021-22 is being presented by FM Nirmala Sitharaman: Union Finance Minister, Nirmala Sitharaman is presenting the Union Budget 2021 for the 3rd time in a row. The Union Budget is the yearly financial report estimating the income and expenditure presented to outline future policies to be adopted by the government for sustainable growth and development. The Economic Survey 2020-21 was released on 29th January 2021 by the Chief Economic Advisor of India, Krishnamurthy Subramanian. According to the survey, India’s economy could contract 7.7 per cent in the financial year that ends on March 31. Finance minister Nirmala Sitharaman concluded her Budget speech at 12.50 pm.

Here are the key highlights from the Union Budget 2021-22:

(1) Total COVID-19 support measures amount to 13 per cent of GDP and total COVID-19 support measures by government and RBI amounts to Rs 27.1 lakh crore. The ‘Aatmanirbhar’ Packages accelerated India’s rate of reform.

(2) Rs 35,000 crore to be allocated for further funds for COVID-19 vaccines. We will provide more for COVID-19 vaccines if required. The private sector may be kept out of vaccination efforts it appears, a disappointment for them. At a blended cost of Rs255/dose (in the first phase), that will cover 2 doses of the vaccine for 68.6crore people in FY22.

(3) First of six pillars Aatmanirbhar Yojana in addition to the National Health Mission introduce the Aatmanirbhar Health Yojana with an outlay of Rs 64,180 crore over six years. This will strengthen the National Centre for Disease Control. Besides this, the government will also set up 15 Health Emergency Centres.

(4) Jal Jeevan Mission with an outlay of Rs 2.87 lakh crore to cover houses and to be implemented over five years. Budget 2021 will also launch Mission Poshan 2.0. Besides this, the launch of urban ‘Swacch Bharat Mission’ 2.0 with an outlay of Rs 1.42 lakh crore has been made.

(5) Allocation to rural infra development increased to Rs 40,000 cr in next fiscal from Rs 30,000 crore in FY21.

(6) NHAI has sponsored one InVit to attract investors. Thus 5 operational roads with Rs 5,000 crore value being transferred to NHAI InVit. NHAI operational roll roads are to be monetised. More than 13,000 km of roads awarded under Bharat Mala project. Around 3,800 km have been constructed in Bharatmala so far and 8,500 km to be awarded by March 2022. Will complete additional 11,000 km of NH corridor by March 2022. More economic corridors are being planned – 3,500 km of NH works are ongoing in Tamil Nadu.

(7) The government will allot Rs 1.03 lakh crore for National Highway Projects in Tamil Nadu; Rs 65,000 core for National Highway Projects in Kerala; Rs 25,000 crore for National Highway Projects in West Bengal.

(8) In Budget 2021, Union Finance Minister Nirmala Sitharaman has announced Rs 1.1 lakh crore for Indian Railways. A record Rs 1,10,055 crore has been provided for Indian Railways. Out of the total, Rs 1,07,100 crore will be provided for capital expenditure in 2021-22, says FM Nirmala Sitharaman.

(9) Power transmission assets of Rs 7,000 crore is to be transferred to Power Grid InvIT. The Centre will also provide Rs 2 lakh crore to states and autonomous bodies for Capex. We will nudge states for more capital expenditure. FY22 Capex has targetted at Rs 5.54 lakh crore v/s FY21’s Rs 4.39 lakh crore. The alternatives will be worked out so that consumers could choose from more than one power distribution companies. It’s a positive for Tata Power.

(10) Rs 1,000 crore to solar energy corporation and Rs 1,500 to renewable energy development agency.

(11) The government has allocated close to Rs 3.60 lakh crore in the Budget towards launching a “revamped”, reforms-based, result-linked power distribution sector scheme.

(12) Government has committed Rs 1.97 lakh crore for Production Linked Incentive Scheme (PLI) covering 13 sectors. Further, 7 textile parks will be launched for over three years.

(13) The FM has announced that a Bill will be introduced to set up a DFI or developmental financial institution to fund long-term infra projects with a capital of Rs 20,000 crore.  Rs 5 lakh crore will be lent by DFI in three years time.

(14) An asset monetisation dashboard will be created to provide clarity to investors.  For 2021-22; capital expenditure is seen at Rs 5.54 lakh crore which is up by 34.5 per cent year-on-year (YoY).

(15) Proposed to update the definition of small companies to be raised up to Rs 2 crore from Rs 50 lakh net worth.

(16) National Infrastructure Pipeline has been expanded to 7,400 projects. Further, projects worth Rs 1.1 lakh crore have been completed under the National Infra Pipeline. The government will also introduce a bill to set up DFI providing Rs 20,000 crore to launch the National Asset Monetisation Pipeline to fund new infra projects.

(17) Finance Minister Nirmala Sitharaman has announced voluntary vehicle scrapping policy. Vehicles to undergo fitness test – which is 20 years for passenger vehicles and 15 years for commercial vehicles. Further details of the scrappage policy to be announced shortly.

(18) Rs 2,217 crore for 42 urban centres with a million-plus population, to tackle the burgeoning problem of air pollution.

(19) The government plans to sell part of its holding in Life Insurance Corporation of India through an initial public offering in the coming year. An amendment to the existing Act to facilitate the public offer, says FM Nirmala Sitharaman.

(20) Strategic disinvestment of companies including BPCL, Air India, Pawan Hans, IDBI Bank, Container Corporation of India to be completed in 2021-22, Sitharaman has announced. The government will ask Niti Aayog to start working on identifying the next list of companies for strategic sale. FM announces further infusion of Rs 20,000 crore for public sector banks. FDI in insurance sector proposed to be hiked to 74% from 49% now.

(21) Finance Minister Nirmala Sitharaman earmarks Rs 1,500 crore for promoting a digital mode of payment.

(22) FM Sitharaman proposes an increase in agriculture credit target to Rs 16.5 lakh crore. “The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities. The total amount paid to paddy farmers surged to Rs 1.72 lakh crore in 2020-21.”

(23) Finance Minister Nirmala Sitharaman announced an allocation of Rs 300 crore to the state of Goa for celebrating the 60th anniversary of the liberation from Portuguese rule.

(24) FM announces a special scheme for the welfare of women and children in Assam and West Bengal. Rs 1,000 crore for Bengal, Assam tea workers.

(25) Central University to be set up in Leh, Ladakh.

(26) Forthcoming Census could be India’s first digital Census, says Sitharaman allocating Rs 3,768 crore for FY-21.

(27) The government has given relief measures for senior citizens by removing the need to file income tax returns for those aged over 75 years. It has also announced a halving of the time frame for reopening of income-tax assessment cases from 6 years to 3 years. For reopening of serious tax evasion cases up to 10 years, the government has put in a monetary limit of cases involving over Rs 50 lakh in a year.

(28) The Finance minister surprised taxpayers by not announcing any change in income tax slab rates. No Covid tax, surcharges on income tax. NRIs to be spared from double taxation. New rules to be notified. Tax audit limit increased from Rs 5 crore to Rs 10 crore.

(29) Exemption duty on steel scrap up to March 2022; customs duty on naphtha cut to 2.5 pc

(30) Rationalising customs duties on gold and silver says FM in Budget for 2021-22; Customs duty on cotton increased to 10%, silk to 15%; Customs duty on solar lanterns cut to 5%.

 

2. India’s First ‘Gender Park’ in Kerala’s Kozhikode: The Kerala government is all set to launch Rs 300 crore three-tower ‘Gender Park’ in Kozhikode. The park will become functional on the occasion of the second edition of the International Conference on Gender Equality (ICGE-II). The park will be inaugurated by the Chief Minister of Kerala, Pinarayi Vijayan, in between February 11-13 that will also mark the inauguration of the second edition of ICGE-II. The gender park was established with the aim of creating relevant interventions so as to address a range of gender-based issues. It includes both off-campus and on-campus activities and other projects that work to empower the individuals and communities.

About the gender park: The gender park was established by the government of Kerala in 2013. It is an initiative that works towards gender equality and empowerment in Kerala. The headquartered for the initiative is in the capital of Kerala, Thiruvananthapuram. However, the main campus is at Silver Hills, Kozhikode. The campus has an area of 24-acre. The park has been set with its main focus on gender justice. The platform will provide an environment for policy analysis, research, capacity development, advocacy, economic and social initiative. The park will be operational under the Department of Social Justice. This space is first of its kind across the world.

Note: Kerala CM: Pinarayi Vijayan; Kerala Governor: Arif Mohammad Khan.

 

3. ISRO to launch City College’s academic satellite: ISRO chairman K Sivan is likely to inaugurate the ‘SriShakthiSat’ ground station at Sri Shakthi Institute of Engineering and Technology in Coimbatore. The station will help monitor the satellite developed by the institute, which is set to be launched by the ISRO. A satellite communication lab was established in the college in 2010. The satellite can detect fire and leaks on underground pipelines and collect info on bank thefts. ISRO is expected to launch this satellite, along with two other satellites built by JPR Institute, Chennai & GH Raisoni College of Engineering, Maharashtra.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

INTERNATIONAL UPDATES:

 

1. 5th Joint Meeting of the India-Japan Act East Forum: The 5th joint meeting of the India-Japan Act East Forum (AEF) was held in New Delhi. The meeting was co-chaired by Foreign Secretary Shri Harsh Vardhan Shringla, and Suzuki Satoshi, Ambassador of Japan to India. During the 5th meeting, the AEF reviewed the progress of ongoing projects in the North Eastern Region of India in various areas including connectivity, hydropower, sustainable development, harnessing of water resources, and skill development. They also exchanged views on cooperation in new areas such as healthcare, agro-industries and SMEs, bamboo value chain development, smart city, tourism and people-to-people exchanges.

History of India-Japan Act East Forum:  The AEF was established in 2017 to provide a platform for India-Japan collaboration in the North Eastern Region under India’s “Act East Policy” and Japan’s vision for a “Free and Open Indo-Pacific”.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI cancels licence of Kolhapur-based Shivam Sahakari Bank: According to RBI, the licence of Maharashtra-based Shivam Sahakari Bank has been cancelled as it does not have adequate capital and earning prospects.  The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. With the cancellation of licence the process of paying the depositors as per the DICGC Act, 1961 will be set in motion. As per the data submitted by the Kolhapur-based bank, more than 99 per cent of the depositors are fully insured by Deposit Insurance and Credit Guarantee Corporation (DICGC). The bank with its present financial position would be unable to pay its present depositors in full.

Note: DICGC Chairperson: Michael Patra; DICGC Founded: 1961; DICGC Headquarters: Mumbai.

 

BUSINESS AND ECONOMY

 

1. Microsoft launches its new Taj Mahal inspired Engineering Hub: Tech major Microsoft has launched its new India Development Center (IDC) facility in Noida, Uttar Pradesh. The new centre will serve as a leading hub for driving advanced engineering and innovation. The centre will build on Microsoft’s commitment to tap India’s world-class engineering talent and create solutions for a global impact. IDC NCR is the third development centre of Microsoft in India after Bengaluru and Hyderabad. The IDC NCR workspace architecture is inspired by the Taj Mahal, one of the Seven Wonders of the World.

About the India Development Center: The IDC NCR facility will collaborate with Microsoft teams globally to build products and services for driving digital innovation. The centre will provide opportunities for engineering talent in the areas of Business & Productivity tools, AI, Cloud & Enterprise, Core Services, and the new Gaming division. The IDC NCR workspace architecture is inspired by the Taj Mahal, one of the seven wonders of the world. The structure is a unique amalgamation of the latest Microsoft technologies and locally sourced materials. The intricate artwork by local artisans and graphics inspired by India’s rich cultural heritage elevate the aesthetics of the office. Its stunning marble inlays, vaulted doorways, arches, and marble domes created by stonemasons and carpenters, are a tribute to the country’s historical and rich craftsmanship.

Note: Microsoft CEO: Satya Nadella; Microsoft Headquarters: Redmond, Washington, United States.

 

OBITUARIES

 

1. 1995 Nobel Chemistry Prize Winner Paul Crutzen passes away: The Nobel Prize-winning chemist Paul J. Crutzen, has passed away. He was 87. Dr. Crutzen won the Nobel Prize in Chemistry in 1995, jointly with Mario J. Molina and F. Sherwood Rowland, for their work in atmospheric chemistry, particularly concerning the formation and decomposition of ozone. He was known for his work on the ozone layer and climate change and for popularizing the term ‘Anthropocene’ to describe a proposed new era when human actions have a drastic effect on the Earth.

Daily GK Updates – 31st Jan, 2021

 

NATIONAL UPDATES:

 

1. India’s “Vaccine Maitri” Initiative begins: Vaccine Maitri Initiative is an initiative launched by India to gift COVID-19 vaccines to neighbouring countries. Recently, Sri Lanka and Bahrain have received the COVID-19 vaccines from India under the initiative. The Vaccine Maitri initiative was launched by India on January 20 to gift COVID-19 vaccines to neighbouring countries.

About the initiative: Sri Lanka has received 5 lakh Covid-19 vaccines from India as a part of the “Vaccine Maitri” initiative. Consignment of vaccines has also been sent to Bahrain. The country will receive 10,800 vaccines under the initiative. India has already delivered over 5 million doses to seven countries in the neighbourhood under the initiative before Sri Lanka and Bahrain. The 7 countries are- the Maldives (100,000 vaccines), Bhutan (150,000 vaccines), Nepal (1 million vaccines), Bangladesh (2 million vaccines), Myanmar (1.5 million vaccines), Mauritius (100,000 vaccines), and Seychelles (50,000 vaccines). Commercial supplies of Covishield have also been sent to Morocco, Brazil, (2 million doses each), and Bangladesh (5 million doses).

COVID-19 Vaccination in India: The COVID-19 vaccination programme started in India on January 16, 2021, with the two approved vaccines (Emergency-use) – Covishield and Covaxin. In phase 1, health workers are being vaccinated followed by people above the age of 50 years.

 

2. PM Modi Chairs 35th PRAGATI Meet: Prime Minister Narendra Modi has chaired the 35th PRAGATI meeting to review multiple projects, grievances and programmes. In the meeting, ten agenda items were taken for review worth Rs. 54,675 crore, related to 15 states. These included nine projects and one programme. Prime Minister also reviewed the Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana.

About the meeting: PRAGATI stands for Pro-Active Governance and Timely Implementation. Of the total 9 projects, 3 projects were from the Ministry of Railways, 3 from Ministry of Road Transport and Highways and 1 project each from Department of Promotion of Industry and Internal Trade, Power Ministry and Ministry of External Affairs. The States are Odisha, Karnataka, Andhra Pradesh, Maharashtra, Chhattisgarh, Punjab, Jharkhand, Bihar, Telangana, Rajasthan, Gujarat, West Bengal, Haryana, Uttarakhand, and Uttar Pradesh.

 

INTERNATIONAL UPDATES:

 

1. Italian Prime Minister Giuseppe Conte resigns: Italian Prime Minister, Giuseppe Conte resigned after losing his Senate majority, plunging the country into political uncertainty just as it’s battling the pandemic and a recession. He tendered his resignation to President Sergio Mattarella, the ultimate arbiter of Italian political crises, who invited him to stay on in a caretaker capacity pending discussions on what happens next. Italy was the first European country to face the full force of the Covid-19 pandemic and has since suffered badly, with the economy plunged into recession and deaths still rising by around 400 a day. Parts of the country remain under partial lockdown, the vaccination programme has slowed and a deadline is looming to agree on plans to spend billions of euros in European Union recovery funds.

Note: President of Italy: Sergio Mattarella; Capital of Italy: Rome; Currency of Italy: Euro.

 

2. India Ranks 86 among 98 Countries in Lowy Institute’s Covid-19 Response Index: India has been ranked at 86th position among 98 countries in the new Coronavirus Performance Index released by Australia-based Lowy Institute. Countries were ranked based on the publicly available and comparable data on Covid-19 response. The Lowy Institute is an independent international policy think tank, located in Sydney. New Zealand, Vietnam and Taiwan are the top three countries respectively in the index. Brazil was ranked at the bottom of the list for worst handling of the pandemic than any other country. China was excluded from the list due to lack of publicly available data.

 

3. India Secures 86th Rank in Corruption Perception Index 2020: India has been ranked 86th among 180 countries in the Corruption Perception Index (CPI) 2020, released by Transparency International. This year, India’s rank has slipped six places compared to 2019, when it was ranked at 80th spot. The CPI score for India in 2020 is 40. India is sharing its position jointly with Burkina Faso, Morocco, East Timor, Trinidad and Tobago and Turkey.

Top Country: New Zealand and Denmark have jointly secured the first position with scores of 88.

Lowest Country: Somalia and South Sudan rank lowest at 179th position with scores of 12.

CPI Index: The CPI index ranks 180 countries and territories by their perceived levels of public sector corruption according to experts and business people. The index uses a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean.

Note: Transparency International Headquarters location: Berlin, Germany; Transparency International Chairperson: Delia Ferreira Rubio; Transparency International Founded: 4 May 1993.

 

4. World Neglected Tropical Diseases Day: 30th January: The second World Neglected Tropical Diseases Day (World NTD Day) is being observed on January 30, 2021 to celebrate the achievements made towards control of the world’s NTDs. 2021 theme is Face NTDs: “End the Neglect”. The first World NTD Day was held on 30 January 2020. Neglected tropical diseases (NTDs) include a range of conditions that can blind, disfigure, or even disable people. Currently, the World Health Organization (WHO) identifies 20 major conditions as NTDs

 

5. World Leprosy Day: 31st January: World Leprosy Day is observed around the world on the last Sunday of January every year. This year World Leprosy Day held on 31 January. The day is celebrated to raise global awareness of this deadly ancient disease and call attention to the fact that it can be prevented, treated and cured. This year theme of World Leprosy Day 2021 is “Beat Leprosy, End Stigma and advocate for Mental Wellbeing.” The day was initiated in 1954 by French philanthropist and writer, Raoul Follereau, as a tribute to the life of the Mahatma Gandhi who had compassion for people afflicted with leprosy.

Note: Leprosy is a chronic infectious disease caused by a bacillus, Mycobacterium leprae (M. laprae). The symptoms of the disease occur generally after a long period of getting an infection on average 5 years, as M. leprae multiplies very slowly. The disease mainly affects the skin, the peripheral nerves, mucosa of the upper respiratory tract, and the eyes.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Bharti AXA General Insurance launches ‘Krishi Sakha’ App for farmers: Bharti AXA General Insurance has launched Krishi Sakha App, a one-stop-shop for Indian farmers that offers them relevant information to cater to their daily farming needs. It also provides guidance to farmers to adopt best farming practices and enhance their productivity. The farmers through this app will also have access to the Pradhan Mantri Fasal Bima Yojana (PMFBY) portal for crop insurance-related information.

About the Bharti AXA ‘Krishi Sakha’: Bharti AXA ‘Krishi Sakha’ aims at helping Indian farmers make informed decisions through customized information related to their farming requirements. It shares relevant information about the scientific way of farming, crop cultivation, sowing, or harvesting of major crops. It guides the farmers about weather forecasting, market and crop prices and government schemes related to insurance and agriculture.

Note: Bharti AXA General Insurance Established: 2008; Bharti AXA General Insurance Headquarters: Mumbai, Maharashtra; Bharti AXA General Insurance MD and CEO: Sanjeev Srinivasan; Bharti AXA General Insurance Tagline: Suraksha ka Naya Nazariya.

 

2. Swaminathan Janakiraman and Aswini Kumar Tewari appointed as MDs of SBI: The appointments committee (ACC) of the Cabinet has approved the appointment of Swaminathan Janakiraman and Ashwini Kumar Tewari as new Managing Directors (MDs) of State Bank of India (SBI) for a period of three years. Prior to this, Swaminathan Janakiraman was the deputy managing director (Finance) at SBI and Ashwini Kumar Tewari was serving as MD & CEO of SBI Card, a subsidiary of SBI. SBI is headed by a Chairman and four managing directors. Dinesh Kumar Khara is the current Chairman of the bank. The other two MDs of the bank are C.S. Setty and Ashwani Bhatia. The two posts were vacant since October 2020.

Note: State Bank of India Headquarters: Mumbai; Founded: 1 July 1955.

 

BUSINESS AND ECONOMY

 

1. Economic Survey 2021: Key highlights of Economic Survey: Finance Minister, Nirmala Sitharaman has presented Economic Survey 2020-21 in the Parliament on 29 January 2021. The major focus of this year’s economic survey is the losses and impact of the Covid-19 pandemic. The survey will provide an assessment of how the Indian economy has been impacted by the deadly COVID-19 virus and how it is improving. It will also project India’s gross domestic product growth for 2021-22. The Economic Survey document is prepared by the Economics Division of the Department of Economic Affairs (DEA) under the guidance of the Chief Economic Advisor Krishnamurthy Subramanian. The Economic Survey 2020-21 will be followed by the Union Budget 2020-21 which will be tabled on February 1. The theme of Economic Survey, 2020-21:

·         #SavingLives&Livelihoods

·         #VshapedRecovery

 

Here are the key highlights from the Economic Survey 2020-21: According to the survey, India’s economy could contract 7.7 per cent in the financial year that ends on March 31, pulled down mainly by the coronavirus pandemic and the weeks-long nationwide lockdown to contain the disease. Real GDP growth could be 11 per cent in the next financial year.

(1) India focused on saving lives and livelihoods by its willingness to take short-term pain for long-term gain, at the onset of the COVID-19 pandemic. Response stemmed from the humane principle that: Human lives lost cannot be brought back

(2) An early, intense lockdown provided a win-win strategy to save lives, and preserve livelihoods via economic recovery in the medium to long-term

(3) India was the only country to announce structural reforms to expand supply in the medium-long term and avoid long-term damage to productive capacities Calibrated demand-side policies to ensure that the accelerator is slowly pushed down only when the brakes on economic activities are being removed A public investment programme centred around the National Infrastructure Pipeline to accelerate the demand push and further the recovery

 

State of the Economy in 2020-21: A Macro View

(1) COVID-19 pandemic ensued global economic downturn, the most severe one since the Global Financial Crisis. The lockdowns and social distancing norms brought the already slowing global economy to a standstill.

(2) Global economic output estimated to fall by 3.5% in 2020 (IMF January 2021 estimates)

(3) India adopted a four-pillar strategy of containment, fiscal, financial, and long-term structural reforms.

(4) As per the advance estimates by NSO, India’s GDP is estimated to grow by (-) 7.7% in FY21 – a robust sequential growth of 23.9% in H2: FY21 over H1: FY2

(5) India’s real GDP to record an 11.0% growth in FY2021-22 and nominal GDP to grow by 15.4% – the highest since independence.

(6) The recovery in the second half of FY2020-21 is expected to be powered by government consumption, estimated to grow at 17% YoY.

(7) Exports expected to decline by 5.8% and imports by 11.3% in the second half of the FY21.

(8) India expected to have a Current Account Surplus of 2% of GDP in FY21, a historic high after 17 years.

 

2. Reliance Jio ranked 5th strongest brand globally: Billionaire Mukesh Ambani’s four-year-old telecom venture Reliance Jio has been ranked the fifth strongest brand globally behind the likes of Ferrari and Coca-Cola. As per the ranking, Reliance Jio has emerged as the 5th strongest brand in the world. Reliance Jio has made its entry to the world’s strongest brands. Reliance has been ranked as the 5th strongest brand in the world. It has a Brand Strength Index (BSI) score of 91.7 out of 100.

About the Brand Finance Global 2021: The Brand Finance’s Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, is topped by WeChat, according to its annual report on most valuable and strongest global brands.

According to the Report: As per the Brand Finance Global 500 2021 ranking, Apple has been named as the most valuable brand in the world. The brand value of the company is US$263.4 billion. Amazon is the second most valuable brand followed by Google. TATA has retained its spot as the most valuable brand of India. It has been placed at the 77th position globally and has a brand value of US$21.3 billion. WeChat is the strongest brand in the world with a BSI score of 95.4. WeChat has surpassed Ferrari to rank as the strongest brand. Ferrari is the 2nd strongest brand in the world. Russian bank Sber and Coca-Cola are the 3rd and 4th strongest brands respectively.

 

AWARDS AND HONOURS

 

1. Ram Temple tableau of Uttar Pradesh on Republic Day wins 1st prize: The Ram Temple tableau of Uttar Pradesh that was on display during the Republic Day 2021 has bagged the first prize among all tableaux. The theme of Uttar Pradesh’s tableau was ‘Ayodhya: Cultural Heritage of Uttar Pradesh’. The cultural heritage of ancient holy town Ayodhya, a replica of a Ram temple, a glimpse of ‘Deepotsav’ and various stories from Ramayana epic were depicted in the tableau.

The Tripura tableau won the second prize for the Republic Day parade. Uttarakhand’s tableau on the theme ‘Dev Bhoomi — The Land of the Gods’ was adjudged third among the states and union territories. The tableau of Central Public Works Department (CPWD), with the theme ‘Amar Jawan’, bagged a special prize for paying tribute to the fallen heroes of the armed forces.

 

DEFENCE

 

1. Lt Gen Chandi Prasad Mohanty appointed as new Army Vice-Chief: Lieutenant General Chandi Prasad Mohanty has been appointed as the new Vice-chief of Army staff. He would assume the office on February 1, 2021, from Lt General SK Saini, who is superannuating on 31 January 2021. Lt General CP Mohanty is an alumnus of Rashtriya Indian Military College, Dehradun, and National Defence Academy. He is a June 1982 batch Infantry Officer from the Rajput Regiment.

About the Vice-Chief of Army Staff: Vice-Chief of Army Staff is the deputy head and the second-highest-ranking officer of the Indian Army. The position is held by the senior officer in the rank of Lt-General, of the Commander in Chief grade.

Note: 28th Chief of Army Staff: General Manoj Mukund Naravane; The motto of Indian Army: “Service Before Self”; Headquarters of Indian Army: New Delhi.

 

OBITUARIES

 

1. Oscar and Emmy Award winning actress Cloris Leachman passes away: Academy Award winning American actor Cloris Leachman, one of the most decorated actors in American television history, has passed away. She was 94. Leachman died in her sleep of natural causes. She won eight Emmy Awards in her storied television career. She also won an Academy Award, a British Academy Film Award, a Golden Globe Award for her film career.