NATIONAL UPDATES:
1. Union Government releases 15th Finance Commission Grants for Rural Local Bodies in Andhra Pradesh and Rajasthan: The Union Government has released the first instalment of the 15th Finance Commission grants for the FY 2024–25 to the Rural Local Bodies (RLBs) in Andhra Pradesh and Rajasthan.Andhra Pradesh has received untied grants amounting to ₹395.5091 crores and tied grants totalling ₹593.2639 crores.These funds are for duly elected 9 eligible District Panchayats, 615 eligible Block Panchayats, and 12,853 eligible Gram Panchayats in Andhra Pradesh.While in Rajasthan, untied grants of ₹507.1177 crores and tied grants of ₹760.6769 crores have been released for the duly elected 22 eligible District Panchayats, 287 eligible Block Panchayats and 9,068 eligible Gram Panchayat in the state.
2. Noel Tata succeeds Ratan Tata, appointed chairman of Tata Trusts: Noel Tata has been named the chairman of Tata Trusts, the charitable division of the Tata Group. He is the son of Naval H. Tata and Simone N. Tata.Noel takes over from his half-brother, Ratan Tata, who passed away earlier this week at the age of 86.Noel Tata is currently a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which collectively own a substantial 66% stake in Tata Sons, the holding company of the diversified Tata Group.Noel N. Tata is the Chairman and Non-Executive Director of Tata International Limited and has been associated with the Tata group for 40 years.He holds various board positions within the group, including Chairman of Trent, Voltas, and Tata Investment Corporation, as well as Vice Chairman of Tata Steel and Titan Company Limited.
3. New Aadhaar Rules Cause Enrollment Issues for Overseas Citizens: The new regulations require anyone wanting to enroll for Aadhaar to prove they have lived in India for the required 182 days. This rule applies to OCIs, foreign nationals, and other applicants. The goal is to ensure that only people with genuine residency in India get an Aadhaar number, helping to prevent fraudulent applications. The verification of residency is now handled by Revenue officials, similar to how passport checks are done. This process involves stricter checks, which has slowed down the enrolment process. Many applications are delayed or even rejected as officials carefully verify whether applicants meet the new residency requirements.
INTERNATIONAL UPDATES:
1. PM Modi attended the 19th East Asia Summit (EAS): Prime Minister Narendra Modi took part in the 19th East Asia Summit (EAS) held in Vientiane, Laos PDR.The Prime Minister emphasized the important part that ASEAN (Association of Southeast Asian Nations) plays in shaping the future of the Indo-Pacific.He mentioned India’s vision for the region, known as the Pacific Vision, which focuses on collaboration with countries like the Quad nations (India, Australia, Japan, and the United States) to promote peace and cooperation in the region.
2. 12 October – World Arthritis Day: World Arthritis Day is observed annually on October 12th to raise awareness about arthritis, a condition affecting millions worldwide. Arthritis primarily affects the joints, causing pain, stiffness, and swelling. Joint pain is a common symptom of arthritis due to the inflammation or degradation of the cartilage that cushions joints.While there is no cure for arthritis, exercise plays a significant role in reducing joint pain by strengthening the muscles around the joints, improving flexibility, and maintaining overall mobility.
3. US-India Leadership Summit 2024: The US-India Strategic Partnership Forum (USISPF) is a non-profit organization that works to strengthen the partnership between the United States and India. It helps bring together leaders from both countries to collaborate on key areas like business, technology, defence, and energy. The event will bring together Indian government officials, USISPF leaders, and business leaders from both countries. Attendees include Indian cabinet ministers and USISPF’s Board members, including leaders from global companies, investors, and venture capitalists.
OTHER UPDATES:
DEFENCE
1. First phase of 2024 Army Commanders’ Conference concluded in Gangtok: The first phase of the Second Army Commanders’ Conference for the year 2024 has been organised in a hybrid mode at Gangtok in Sikkim.The two-day conference will serve as a forum for Senior Commanders to review current operational preparedness, deliberate on critical strategies and outline future directives.During the conference, discussions will focus on critical national security issues and strategic aspects aimed at sharpening the Indian Army’s warfighting capabilities.The major issues to be deliberated during the session include the growing importance of a multi-pronged national security strategy that incorporates integration of Civil-Military Fusion and the Diplomatic, Information, Military, and Economic (DIME) pillars to counter contemporary threats.The second phase of the Army Commanders’ Conference will be held in Delhi on the 28th and 29th of October.
2. Indian Naval Ship Shardul arrives in UAE: The Indian Naval Ship Shardul, part of the First Training Squadron of the Indian Navy, arrived at Port Mina Rashid, Dubai, UAE, as part of its Long Range Training Deployment.This visit marks a significant milestone in strengthening maritime cooperation and fostering mutual understanding between India and UAE.Shardul is scheduled to engage in various activities designed to enhance maritime security and interoperability. These include harbour interactions and joint exercises including visit to the Naval Officers Training Academy and UAE Naval Ship.
3. China Conducts Military Drills Near Taiwan Amid Tensions: On October 14, 2024, China held large military exercises around Taiwan and nearby islands. These drills were a warning to Taiwan because its president, Lai Ching-te, refused to say that Taiwan is part of China. The exercises were meant to show China’s strength and its displeasure with Taiwan’s independence stance. China sees Taiwan as a part of its territory and strongly opposes any moves toward Taiwanese independence. The Chinese Defence Ministry said the military exercises were a necessary response to Taiwan’s leadership. The drills involved China’s navy, air force, and missile units, showing full military power. Senior Captain Li Xi, a Chinese official, stated that this was a strong message to anyone supporting Taiwan’s desire to remain separate from China. China wanted to make clear that it was determined to protect its claim over Taiwan.
4. Indian Naval Ships Enhance Maritime Cooperation in Bahrain: The Indian Naval Ship (INS) Tir and Indian Coast Guard Ship (ICGS) Veera arrived in Manama, Bahrain, as part of a Long Range Training Deployment in the Persian Gulf. This visit highlights India’s dedication to improving maritime security and cooperation in the region. Indian Navy trainees will visit the Royal Bahrain Naval Forces’ training centers. This will help both sides learn from each other and is part of India’s involvement with the Combined Maritime Forces (CMF), a partnership that promotes regional security.
BANKING AND FINANCE
1. Net direct tax collection grows 18% to ₹11.25 lakh crore: Net direct tax collection grew 18.3% to about ₹11.25 lakh crore as of October 10 this fiscal, government data showed.The mop-up includes personal income tax collection of ₹5.98 lakh crore and corporate tax collection of ₹4.94 lakh crore.Securities Transaction Tax (STT) stood at ₹30,630 crore, while other taxes (including equalisation levy and gift tax) earned ₹2,150 crore.The income tax department had collected ₹9.51 lakh crore during the same period a year ago.Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 percent.On a gross basis, direct tax collection grew 22.3 percent to Rs 13.57 lakh crore. The collection includes personal income tax of Rs 7.13 trillion and corporate tax of Rs 6.11 lakh crore.
AWARDS AND HONOURS
1. Awarded about Nihon Hidankyo: Nihon Hidankyo, founded in 1956, is a group that brings together atomic bomb survivors from across Japan.The full name of the organization translates to “Japan Confederation of A- and H-Bomb Sufferers Organizations.” Their mission is to advocate for nuclear disarmament and protect the rights of Hibakusha.The group works to educate people about the dangers of nuclear war and collects stories from survivors to preserve their experiences.Nihon Hidankyo also collaborates with international peace organizations to promote a global movement against nuclear weapons.
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