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We at Edusprint Academy are committed to bringing you the most relevant and updated 21st December current affairs 2024, curated from trusted and official sources. These updates are designed to keep you ahead in your exam preparation journey.
Our comprehensive Current Affairs December 2024 coverage aims to enhance your knowledge and boost your scores in Banking, Insurance, SSC, Railways, UPSC, and all State Government Exams. Explore our Current Affairs tailored to simplify your exam preparation.
National news
Union Cabinet Approves Bills for One Nation, One Election (ONOE)
In December 2024, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved two significant bills aimed at implementing the One Nation, One Election (ONOE) initiative. This initiative seeks to synchronize the elections for the Lok Sabha, state legislative assemblies, and local bodies across India in a phased manner.
Key Bills Approved:
Constitution (129th Amendment) Bill, 2024:
- Aims to align the terms of the Lok Sabha and state assemblies for simultaneous elections.
- This bill will amend the Constitution to allow for synchronized electoral schedules, reducing election-related disruptions.
Union Territories Laws (Amendment) Bill, 2024:
- Focuses on aligning the election schedules of Union Territories (UTs) such as Puducherry, Delhi, and Jammu & Kashmir with the Lok Sabha elections.
- Ensures a more streamlined election process across the entire nation.
Context and Recommendations:
- These bills are based on the recommendations of the High-level Committee on Simultaneous Elections, which was formed under the chairmanship of former President Ram Nath Kovind in September 2023.
- The committee’s report provided detailed suggestions for implementing ONOE, including addressing logistical, constitutional, and practical challenges.
Additional Points:
Benefits:
- Reduction in election-related costs for the government and political parties.
- More effective governance due to a more stable political environment.
- Efficient use of resources, both human and financial, for election administration.
Challenges:
- Legal and constitutional amendments will require cooperation from various stakeholders.
- There may be concerns about the feasibility of managing multiple elections simultaneously, especially in terms of logistics and voter turnout.
- The approval of these bills marks a significant step towards realizing the One Nation, One Election vision, which aims to bring electoral harmony and stability across India.
Bharat Mobility Global Expo 2025: India’s Automotive Milestone
The Bharat Mobility Global Expo 2025 will take place from January 17-22 across Delhi NCR, marking India’s growing role as a global hub for mobility. With over 1,500 exhibitors and an expected 500,000 visitors, the event is set to become the world’s second-largest auto show. Key automotive giants such as Maruti Suzuki, Tata Motors, and BYD will showcase new models, with a focus on electric vehicles (EVs), hybrid technologies, and alternative fuels. In its second edition, the expo promises to build on the success of the inaugural 2024 event, reinforcing India’s commitment to sustainable mobility and engineering excellence.
Global Presence
Participation from 13+ countries, including:
- Germany.
- Japan.
- USA.
International companies presenting cutting-edge automotive solutions.
International news
UK Joins the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP)
In December 2024, the United Kingdom (UK) officially became the first European country to join the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP), a significant trade bloc in the Indo-Pacific region.
- 12th Member of CPTPP: The UK is now the 12th member of the CPTPP, and the first non-founding member to join the trade bloc.
- This move is a key part of the UK’s post-Brexit strategy to strengthen its global trade relationships after withdrawing from the European Union (EU) in 2020.
About CPTPP:
Successor to TPPA: The CPTPP succeeded the Trans-Pacific Partnership Agreement (TPPA), originally involving 12 Pacific Rim countries. The United States formally withdrew from the TPPA in 2017, leading to the creation of the CPTPP.
Free Trade Agreement: It is a Free Trade Agreement (FTA) signed by 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, and Vietnam.
Agreement Signed: The CPTPP was signed on March 8, 2018.
Pact Enactment: Initially, it came into force on December 30, 2018, for six countries (Australia, Canada, Japan, Mexico, New Zealand, and Singapore).
Expansion: The pact has since expanded to include other countries: Vietnam (2019), Peru (2021), Malaysia (2022), Chile (2023), and Brunei Darussalam (2023).
About the United Kingdom (UK):
- Prime Minister: Keir Starmer.
- Capital: London.
- Currency: Pound Sterling (GBP).
Economy news
CareEdge Ratings Revises India’s GDP Growth Forecast for FY25
In December 2024, CareEdge Ratings, a subsidiary of Care Ratings Limited, revised its Gross Domestic Product (GDP) projection for India to 6.5% for Financial Year 2024-25 (FY25), down from the earlier estimate of 6.8%. The agency also projects a 6.7% growth for India’s GDP in FY26.
Key Factors Behind the Downward Revision:
- Slower Growth in Q2 (FY25): A weaker performance in the second quarter (July-September) of FY25.
- Corporate Profitability: A sharper contraction in corporate profitability during the same period.
- Reduced Public Capital Expenditure: A decline in public capital expenditure (capex) in the first half (H1) (April to September) of FY25.
Growth Projections and Expectations:
- Second Half (H2) Rebound: CareEdge expects the Indian economy to rebound in the second half (October to March) of FY25, primarily due to a recovery in consumption and a rise in government capital expenditure.
- Nominal GDP Projection: The nominal GDP growth for FY25 is projected at 9.9%, lower than the budgeted estimate of 10.5%.
Fiscal and Economic Outlook:
- Fiscal Deficit: CareEdge projects the fiscal deficit of the central government at 4.8% of GDP for FY25, slightly below the budgeted 4.9%.
- Capex Shortfall: The agency estimates that central government capital expenditure will fall short of its target by Rs 1.5 trillion, which could impact long-term infrastructure growth.
Export Growth:
- Merchandise Exports: Expected to grow by 2.5% in FY25 amid global uncertainties.
- Services Exports: Projected to rise by 13%.
- Current Account Deficit (CAD): The Current Account Deficit is expected to remain manageable at 0.9% of GDP for FY25, demonstrating resilience in the external sector.
About CareEdge Ratings:
- Managing Director (MD) and CEO: Mehul Pandya.
- Headquarters: Mumbai, Maharashtra.
- Established: 1993.
India Achieves Significant Milestone with USD 1 Trillion FDI Inflows
In December 2024, India reached a remarkable economic milestone, with gross Foreign Direct Investment (FDI) inflows totaling USD 1 trillion since April 2000, marking a significant achievement in its economic journey.
Key Highlights:
- FDI Growth in FY25: In the first half of the Financial Year 2024-25 (FY25), FDI inflows increased by 26%, amounting to USD 42.1 billion.
- FDI in the Last Decade: Between April 2014 to September 2024, India received USD 709.84 billion in FDI, which constitutes 68.69% of the total FDI inflows over the past 24 years.
Government Initiatives:
- Make in India: The “Make in India” initiative has played a pivotal role in attracting investments, fostering a conducive environment for industrial growth.
- Liberalized Policies & GST: Liberalized sectoral policies and the introduction of the Goods and Services Tax (GST) have strengthened the investment ecosystem in India.
- Income Tax Act Amendment: The 2024 amendment to the Income Tax Act, 1961 abolished angel tax and reduced the income tax rate for foreign companies, further boosting investor confidence.
India’s Global Rankings & Achievements:
- World Competitive Index 2024: India improved its position to 40th from 43rd in 2021.
- Global Innovation Index 2023: India ranked 40th out of 132 economies, securing the 48th position among the top 50 most innovative countries.
- Greenfield Projects: According to the World Investment Report 2023, India was the 3rd largest recipient of greenfield projects, with 1,008 announcements, reflecting its strong appeal to new investments.
This economic success highlights India’s growing prominence as a global investment destination, supported by government reforms and initiatives designed to strengthen the country’s investment climate.
Award news
Kiran Mazumdar-Shaw Conferred with 2024 Jamsetji Tata Award
In December 2024, Kiran Mazumdar-Shaw, the Chairperson of Biocon Group, was conferred the 2024 Jamsetji Tata Award by the Indian Society for Quality (ISQ) at its Annual Conference 2024 held in Bengaluru, Karnataka.
Award Recognition:
- Award Reason: Kiran Mazumdar-Shaw was honored for her pioneering contributions to the bioscience movement in India since 1978. As a first-generation entrepreneur, she established Biocon Limited and associated companies, serving customers both in India and across the globe.
- Presentation: The award was presented to her by Janak Kumar Mehta, President of ISQ and Chairman & Managing Director (CMD) of TQM International.
About Kiran Mazumdar-Shaw:
Biotech Pioneer: Kiran Mazumdar-Shaw is the founder of Biocon, a leading global biopharmaceuticals enterprise.
Awards & Honors:
- She was awarded the Padma Shri (Trade & Industry) in 1989 and the Padma Bhushan (Science & Engineering) in 2005.
- In 2020, she received the Order of Australia, the country’s highest civilian honor, and was named EY World Entrepreneur of the Year.
- In 2014, she was honored with the Othmer Gold Medal by the U.S.-based Chemical Heritage Foundation.
About the Jamsetji Tata Award:
- Institution: The Jamsetji Tata Award was established in 2004 by the Indian Society for Quality (ISQ).
- Purpose: The award recognizes business leaders who have made substantial contributions to Indian society.
- Named After: It is named after Jamsetji Tata, known as the ‘Father of Modern Indian Industry’.
- Kiran Mazumdar-Shaw’s receipt of this prestigious award underscores her significant role in transforming India’s biotechnology sector and her lasting impact on the global healthcare landscape.
Agreement news
India and France Collaborate to Establish World’s Largest Museum
The Ministry of Culture, in partnership with France Museums Développement (FMD), has launched an ambitious project to develop the Yuga Yugeen Bharat National Museum as a global cultural landmark. Spanning approximately 1,55,000 square meters across the North and South Blocks in New Delhi, the museum will celebrate India’s civilizational history and serve as a cornerstone of the Central Vista Redevelopment Project.
Objective:
- To develop the Yuga Yugeen Bharat National Museum as a global cultural landmark.
- Showcase India’s civilizational history and heritage.
Location: Spanning 1,55,000 square meters across the North and South Blocks in New Delhi.
Key Association: A partnership between India’s Ministry of Culture and France Museums Développement (FMD).
Alignment: Part of the Central Vista Redevelopment Project, emphasizing modern infrastructure and heritage preservation.
Project Timeline
Announcement:
- Announced by Prime Minister Narendra Modi at the International Museum Expo in May 2023.
- Reiterated during the Bharat Mandapam inauguration in July 2023.
Phase-wise Execution: North Block Transformation Deadline: June 2026.
Relocation of Ministries:
- Ministries of Finance, Home Affairs, and others will move to the Common Central Secretariat by March 2025.
- Retrofitting of the North and South Blocks to commence after the relocation.
France:
- Capital: Paris
- President: Emmanuel Macron
CENJOWS and NDMA Sign MoU to Strengthen Disaster Management in India
In December 2024, the Centre for Joint Warfare Studies (CENJOWS), a tri-services think tank under the Headquarters Integrated Defence Staff (HQ IDS), Ministry of Defence, signed a Memorandum of Understanding (MoU) with the National Disaster Management Authority (NDMA) to enhance India’s disaster management capabilities.
Key Highlights of the MoU:
Signatories:
- Lt Gen Syed Ata Hasnain (Retd), Member, NDMA.
- Major General (Dr) Ashok Kumar (Retd), Director General, CENJOWS.
- The agreement establishes a strategic collaboration to tackle the critical challenges in disaster preparedness, response, and mitigation, aiming to create a “whole of the nation” approach for disaster management.
Key Areas of Collaboration:
- Collaborative Research: Joint research on disaster management, Humanitarian Assistance and Disaster Relief (HADR) operations, and disaster diplomacy to inform government policies.
- Capacity Building: Organizing workshops, seminars, and training programs for key stakeholders, including armed forces, NDMA officials, and other relevant agencies.
- Awareness Campaigns: Nationwide initiatives to raise awareness on disaster preparedness and risk reduction, promoting community resilience.
- International Engagements: Promoting international cooperation in disaster management, in alignment with India’s broader foreign policy objectives.
Objective:
The MoU aims to enhance India’s capacity to manage disasters efficiently and effectively, leveraging the combined expertise of both CENJOWS and NDMA. This collaboration will contribute to strengthening India’s disaster management framework, improving national and international disaster response capabilities.
Banking news
Centre, ADB Sign $42 Million Loan for Coastal Protection in Maharashtra
The Central government and the Asian Development Bank (ADB) have signed a $42 million loan agreement to bolster coastal and riverbank protection in Maharashtra. This initiative aims to enhance the resilience of coastal communities and ecosystems by employing hybrid approaches, such as offshore reefs, rock protection works, and nature-based solutions like beach and dune nourishment. Advanced technologies, including remote sensing and climate change impact predictions, will improve shoreline management while addressing issues in tourism and fisheries sectors.
Overview
Parties Involved: Central Government of India and Asian Development Bank (ADB).
Loan Amount: $42 million.
Purpose:
- To enhance coastal and riverbank protection in Maharashtra.
- Focus on resilience of coastal communities and ecosystems.
Key Objectives
Combating Coastal Erosion: Implementation of hybrid approaches for stabilizing Maharashtra’s coastline.
Methods include:
- Offshore reefs.
- Rock protection works.
- Nature-based solutions like beach and dune nourishment.
Enhanced Resilience:
- Addressing challenges faced by tourism and fishery sectors, critical for local livelihoods.
- Mitigating risks of erosion and flooding.
Community Inclusion:
Active participation of:
- Women, youth, and vulnerable groups.
- Focus on disaster preparedness and response strategies.
Asian development bank:
- Headquarters: Mandaluyong, Philippines
- Founded: 19 December 1966
- President: Masatsugu Asakawa (until February 23, 2025), Masato Kanda
Appointment news
Reappointment of Dr. Shankar Prasad Sharma as Nepal’s Ambassador to India
Reappointed as Nepal’s Resident Ambassador to India by President Ram Chandra Paudel. Appointment made under Article 282 (1) of Nepal’s Constitution, following the Council of Ministers’ recommendation.
- Previous Tenure:
- Served as Ambassador to India from March 2022 to July 2024.
- Reappointment Timeline:
- Received Agrément from India on December 13, 2024, 2.5 months after Nepal’s proposal.
Netra Prasad Timilsina: Appointed as the Resident Ambassador of Nepal to Malaysia.
Nepal:
- Capital: Kathmandu
- Currency: Nepalese Rupee
- Official language: Nepali
Sports news
Salman Khan Named Brand Ambassador for Kho Kho World Cup
The Kho Kho Federation of India (KKFI) has officially appointed Bollywood superstar Salman Khan as the brand ambassador for the inaugural Kho Kho World Cup, which will be held in New Delhi from January 13 to 19, 2025. This event will see the participation of teams from 24 countries and is set to boost the global profile of Kho Kho. The tournament aims to showcase the sport’s widespread appeal, with an exciting lineup of men’s and women’s teams competing for the first time on the world stage.
Event Dates & Location:
- The Kho Kho World Cup will take place from January 13 to 19, 2025, in New Delhi.
- Teams from 24 countries will participate.
Salman Khan’s Role:
- Salman Khan has been appointed as the brand ambassador for the inaugural Kho Kho World Cup.
- He expressed enthusiasm for the sport, highlighting its cultural significance and India’s spirit.
Tournament Features:
- 21 men’s teams and 20 women’s teams will compete.
- A demonstration match featured star players like Pratik Waiker, Aditya Ganpule, Ramji Kashyap, and Priyanka Ingle.
Importance of the Event:
- The tournament marks a major step in bringing global attention to Kho Kho, a traditional Indian sport.
- Expected to attract a large global audience, with media coverage amplified by Salman Khan’s involvement.
Support from Key Organizations:
- The Indian Olympic Association (IOA) is supporting the event.
- KKFI President, Shri Sudhanshu Mittal, thanked Salman Khan for boosting the sport’s visibility.
Kho Kho Federation of India:
- President: Sudhanshu Mittal
- The Kho-Kho Federation of India (KKFI) was established in 1955
India Men’s Hockey Team Moves to 5th in Latest FIH Rankings for 2025
The Indian men’s hockey team has secured 5th place in the FIH World Rankings following an outstanding performance at the 2024 Paris Olympics, where they won back-to-back Olympic medals for the first time since 1972.
FIH World Rankings Overview:
- Netherlands: 1st (3,267 points)
- England: 2nd (3,139 points)
- Belgium: 3rd (3,124 points)
- India: 4th (2,955 points)
- Australia: 5th (2,814 points)
Historical Milestone: India’s rise in the rankings reflects its growing strength and consistency in international hockey. Since the introduction of the new Elo-based ranking system in 2020, India has made steady progress, despite never reaching the No. 1 spot.
Key Historical Milestones: India has had fluctuating rankings over the years, including a drop from the top 10 in 2008. However, recent successes like winning the 2023 Asian Games and qualifying for the Paris 2024 Olympics have helped elevate the team to its current position.
Looking Ahead: The FIH Hockey Pro League 2024-25 season begins in February 2025, and India aims to continue climbing the rankings while competing in Bhubaneswar. The team’s future is promising, with the goal of further advancing in the global standings and bringing more success to Indian hockey.
Team Asia Wins Inaugural Waldner Cup 2024
On December , 2024, Team Asia, featuring India’s Manika Batra and led by Ma Long, triumphed in the inaugural edition of the Waldner Cup 2024, defeating Team World with a score of 14-10 in Oslo, Norway.
Tournament Details:
- Dates: December 13-15, 2024
- Organized By: The tournament was created by Jan Ove Waldner, the legendary Swedish table tennis player and 1992 Olympic gold medallist.
Team Asia:
- Ma Long (China) – 6-time Olympic gold medallist
- Chen Meng (China) – Paris 2024 women’s singles champion
- Shin Yubin (South Korea) – 2-time Olympic bronze medallist
- Kirill Gerassimenko (Kazakhstan)
- Manika Batra (India)
Key Points:
Team World: The team was led by Truls Moregardh (Sweden), the Paris 2024 men’s singles silver medallist, and Dimitrij Ovtcharov (Germany), a 6-time Olympic medallist.
Match Progression: Team World led 10-8 after the second day, but Team Asia made a strong comeback, winning the last 3 matches to secure a 14-10 victory.
Final Match: Ma Long defeated Truls Moregardh in the final match, sealing the win for Team Asia.
About Waldner Cup:
- The Waldner Cup was a two-day event with male and female players competing in singles, doubles, and mixed doubles matches.
- Scoring System: One point was awarded for each win on the first day, and two points were awarded for each win on the second day.
Ranks and reports news
India Ranks 39th in Travel and Tourism Development Index 2024
India has significantly improved its position in the World Economic Forum’s (WEF) Travel and Tourism Development Index (TTDI) 2024, ranking 39th among 119 countries. This marks a sharp rise from its 54th place in the previous 2021 index, which was later adjusted to 38th after a revision in WEF’s methodology. The boost in India’s ranking reflects a strong recovery in global tourism, following the pandemic, and the country’s growing role as a hub for medical and cultural tourism.
Rank: India has improved its position to 39th place among 119 countries in the TTDI 2024, up from 54th in 2021 (which was later revised to 38th).
Key Drivers Behind the Growth:
Medical Tourism:
- India is emerging as a global leader in medical tourism, offering affordable healthcare.
- The Advantage Healthcare India portal, launched by the Ministry of Health, facilitates international patients seeking medical treatment in India.
Government Schemes for Tourism Development: The Ministry of Tourism has implemented schemes like Swadesh Darshan, PRASHAD, and Assistance to Central Agencies to enhance infrastructure and promote tourism across India.
Cultural Heritage and Infrastructure Development:
- India’s rich cultural heritage, with 43 World Heritage Sites and 56 potential sites, adds to its tourism appeal.
- Significant investments in 500 new air routes, 150 new airports, and high-speed trains like Vande Bharat have improved accessibility for tourists.
India’s Position and Progress:
- India’s 39th place highlights its role as a leading tourism destination, especially in South Asia.
- The improved infrastructure and government policies have positioned India as one of the top medical tourism hubs globally.
- This achievement reflects India’s growing influence in the global tourism industry and its recovery post-pandemic.
Important days
Sashastra Seema Bal (SSB) Raising Day and Amit Shah To Attend Event
The Sashastra Seema Bal (SSB) is to celebrate its 61st Raising Day on December 20, 2024, in Ranidanga, Siliguri. This milestone event will showcase the force’s achievements, cultural heritage, and contributions to border security. Union Home Minister Amit Shah has been invited to attend the celebrations. The event will feature a blend of cultural programs, sports demonstrations, and traditional performances, reflecting the vibrant diversity of the region.
Event Date & Venue:
- Date: December 20, 2024
- Location: Ranidanga, Siliguri
Official Attendees: Union Home Minister: Amit Shah (invited)
Event Features:
- Grand Parade: The main event will feature a grand parade on December 20, with a dress rehearsal scheduled for December 18.
- Cultural Programs: A vibrant array of cultural activities, including performances by local groups from Sikkim and North Bengal.
- Traditional Arts & Sports: Displays of traditional Indian acrobatic art Mallakhamb, martial arts, and sports demonstrations will showcase the force’s versatility.
- Toto Tribal Participation: The Toto tribal community will present their cultural traditions, highlighting the region’s rich heritage.
Goa Liberation Day 2024: Date, History, and Significance
Goa Liberation Day is celebrated on December 19 every year to mark the freedom of Goa from Portuguese rule in 1961. This event symbolizes the end of 451 years of colonial rule and commemorates the bravery and sacrifices of the freedom fighters. Goa became an integral part of India on this day, and the celebration continues to honor the historic struggle for independence.
Historical Significance:
- Marks the end of 451 years of Portuguese colonial rule in Goa, Daman, and Diu.
- Goa became part of India on December 19, 1961, after the Portuguese authorities relinquished control.
Freedom Struggle:
- The day honors the struggle of the people of Goa and the Indian Army’s role in ending Portuguese rule.
- Goa participated actively in India’s freedom movement, particularly through Satyagraha.
Cultural Significance:
- Goa’s distinct cultural identity remained intact despite colonial rule.
- The day is a tribute to the region’s contribution to India’s independence.
Celebrations:
Commemoration Events:
- Schools and colleges organize events such as speech competitions, drawing contests, and poster-making.
- Various cultural programs and remembrance of freedom fighters.
Public Celebrations: Enthusiastic celebrations across Goa, marked by pride and honor for the liberation.
History:
- Indian Army’s Role: In 1961, the Indian Army launched Operation Vijay to liberate Goa, Daman, and Diu.
- Post-1947 Struggle: Despite India’s independence in 1947, Goa remained under Portuguese control until 1961.
- Diplomatic Challenges: Years of unsuccessful negotiations between India and Portugal led to the military action required for liberation.
Goa:
- Chief minister: Pramod Sawant
- Capital: Panaji (Executive Branch)
- Governor: P. S. Sreedharan Pillai
