National News
National Jal Jeevan Mission Achieves Historic Milestone Of Providing Tap Water Connections To 15 Crore Rural Households Across Country
The National Jal Jeevan Mission has achieved a historic milestone providing tap water connections to 15 crore rural households across the country. The Mission has showcased unprecedented speed and scale increasing rural tap connection coverage from three crore in 2019 to 15 crore in a short span of five years. The mission was announced in 2019, with the aim to provide tap water supply to every rural home by 2024.
- In a post on social media post, Jal Shakti Minister C.R. Patil said, this milestone has not only given a gift of pure water to the countrymen but also improved their quality of life.
- As on date, eight States and three Union Territories have achieved 100 per cent coverage.
- This includes Goa, Telangana, Haryana, Gujarat, Punjab, Himachal Pradesh, Mizoram, Arunachal Pradesh, Puducherry, Dadra and Nagar Haveli and Daman and Diu, and Andaman and Nicobar Islands.
AIM, WIPO Join Hands To Boost Innovation In Global South
The Atal Innovation Mission (AIM) at NITI Aayog and the World Intellectual Property Organisation (WIPO) on July 22, joined hands towards building joint innovation programmes in the Global South. Union Minister for Education and Skill Development Dharmendra Pradhan said that innovation is India’s strength.
Partnership between AIM and WIPO
- Purpose and Impact:
- The partnership aims to share India’s innovation models with countries on similar development paths.
- It seeks to enhance understanding and awareness of intellectual property rights (IPR) from the school level.
- The collaboration is expected to unlock global innovation potential and promote inclusive, sustainable economic growth.
Atal Innovation Mission (AIM) – General Knowledge
Overview:
- Atal Innovation Mission (AIM) is an initiative by the Government of India aimed at fostering a culture of innovation and entrepreneurship across the country.
- Launched in 2016 by the NITI Aayog, AIM focuses on promoting innovation in schools, startups, and institutions.
Atal Tinkering Labs (ATL):
- Established in schools to encourage students to engage in hands-on learning and innovation.
- ATL provides students with tools and resources to develop creative problem-solving skills and explore STEM (Science, Technology, Engineering, and Mathematics) concepts.
WIPO:
- Headquarters: Geneva, Switzerland
- Founded: 14 July 1967
- Abbreviation: WIPO
- Head: Daren Tang; Director General
Assam’s Charaideo Maidam Nominated for UNESCO World Heritage Site
Charaideo Maidam has been nominated to become North East India’s first UNESCO World Heritage Site in the cultural category. Prime Minister Narendra Modi announced this nomination at the 46th session of the World Heritage Committee held from July 21-31 in New Delhi. If accepted, Charaideo Maidam will be India’s 43rd World Heritage Site, joining Kaziranga National Park and Manas National Park, which are listed under the natural category.
Significance of Charaideo Maidam
- Location: Assam, India
- Historical and Cultural Importance:
- Purpose: Ancient burial mounds for Ahom kings and nobles from the 13th to 18th century.
- Design: Resemble grassy hillocks, marking the resting places of rulers and dignitaries.
- Burial Practice: Deceased’s remains are interred in an underground chamber, with the mound serving as a memorial.
- Cultural Significance:
- Sacred: Considered sacred by the Ahom community.
- Artifacts: Believed to house valuable artifacts and treasures.
- Heritage: Reflects the rich heritage and identity of Assam, showcasing unique traditional practices.
PM Modi Announces $1 Million Grant to UNESCO
Prime Minister Narendra Modi announced India’s contribution of one million dollars to the UNESCO World Heritage Centre to support heritage conservation globally, particularly in the Global South. This announcement was made during the inauguration of the 46th session of the World Heritage Committee at Bharat Mandapam in New Delhi.
Purpose:
- Support: To aid global heritage conservation, with a focus on the Global South.
- Utilization: Funds will be used for capacity building, technical assistance, and the conservation of world heritage sites.
India’s Commitment:
- Previous Support: India has supported the conservation of heritage sites such as Angkor Wat (Cambodia), Cham Temples (Vietnam), and Bagan Stupa (Myanmar).
International news
Azerbaijan Launches Climate Finance Action Fund (CFAF) for COP29
Azerbaijan, hosting the COP29 climate summit, has launched the Climate Finance Action Fund (CFAF) to support green projects in developing countries and help maintain the 1.5°C temperature target.
- Objective:
- Raise USD 1 billion from fossil fuel-producing countries and companies.
- Support climate projects and assist in meeting Nationally Determined Contributions (NDCs).
- Location:
- The fund will be based in Baku, Azerbaijan, with a secretariat, board including contributors, and an independent audit committee.
- COP29 Dates:
- November 11-22, 2024, in Baku, Azerbaijan.
About CFAF:
- Initiative:
- Part of a broader package of 14 initiatives announced as part of the COP29 action agenda.
- Aims to enhance ambition and enable action by mobilizing private sector investment, de-risking funding, and providing concessional support for natural disaster response.
- Funding Allocation:
- 50% of the fund will support climate projects in developing countries, focusing on clean energy, energy efficiency, climate resilience, and new technologies.
- The remaining 50% will assist member countries in meeting their NDCs to keep the 1.5°C temperature goal achievable.
- Contributors:
- Azerbaijan will be a founding contributor.
- Members will commit to annual contributions, either as a fixed sum or based on production volume.
About Azerbaijan
- Prime Minister: Ali Asadov
- Capital: Baku
- Currency: Azerbaijani Manat
Economy news
Union Budget 2024-25: Complete Budget Analysis
The Budget 2024-25 outlines a total expenditure of ₹48.21 lakh crore and receipts (excluding borrowings) of ₹32.07 lakh crore, with net tax receipts estimated at ₹25.83 lakh crore. The fiscal deficit is projected at 4.9% of GDP. Key initiatives under the “Viksit Bharat” theme include developing twelve industrial parks, providing internships for 1 crore youth in top companies, promoting rental housing with dormitory-type accommodations for industrial workers, and setting up Bharat Small Reactors for energy security.
Budget 2024-25 Overview
Budget Theme:
- Vision: “Viksit Bharat” focusing on holistic development.
- Focus Areas:
- Mahilayen (Women)
- Garib (Poor)
- Yuva (Youth)
- Annadata (Farmer)
Key Financial Details:
- Total Receipts (excluding borrowings): ₹32.07 lakh crore
- Total Expenditure: ₹48.21 lakh crore
- Net Tax Receipts: ₹25.83 lakh crore
- Fiscal Deficit: 4.9% of GDP
Financial Allocations:
- Expenditures:
- Interest Payments: 19%
- Central Sector Schemes (excluding capital outlay on Defence and Subsidy): 16%
- Subsidies: 6%
- Defence: 8%
- Other Expenditure: 9%
- Centrally Sponsored Schemes: 8%
- Finance Commission and Other Transfers: 9%
- States’ Share of Taxes and Duties: 21%
- Pensions: 4%
- Revenues:
- Non-Tax Receipts: 9%
- Non-Debt Capital Receipts: 1%
- Customs: 4%
- Corporation Tax: 17%
- GST & Other Taxes: 18%
- Union Excise Duties: 5%
- Income Tax: 19%
- Borrowing and Other Liabilities: 27%
Infrastructure Investment:
- Long-Term Loans: ₹1.5 lakh crore to states
- Overall Infrastructure Investment: ₹11.11 lakh crore (3.4% of GDP)
Major Expenditures:
- Ministry of Road Transport and Highways: ₹2,65,808 crore
- Defence: ₹6.22 lakh crore
- Energy: ₹1,51,851 crore
- Agriculture and Allied Activities: ₹1,51,851 crore
- Home Affairs: ₹1,50,983 crore
- Education: ₹1,25,638 crore
- IT and Telecom: ₹1,16,342 crore
- Health: ₹89,287 crore
- Rural Development: ₹68,769 crore
- Social Welfare: ₹56,501 crore
- Commerce & Industry: ₹47,559 crore
- Railways: ₹2,78,500 crore
Key Schemes:
- MGNREGA: ₹60,000 crore
- Research and Development Projects: ₹840 crore
- Nuclear Power Projects: ₹442 crore
- PLI for Pharmaceutical Industry: ₹1,200 crore
- Solar Power (Grid): ₹4,970 crore
- Development of Semiconductors and Display Manufacturing: ₹3,000 crore
- Lines of Credit under IDEA Scheme: ₹3,849 crore
- Direct Benefit Transfer – LPG: ₹180 crore
Agriculture Initiatives:
- Vegetable Production & Supply Chain: Promotion of FPOs, cooperatives, and startups
- New Varieties: 109 high-yielding and climate-resilient varieties
- National Cooperation Policy: Development of the cooperative sector
- Atmanirbharta in Oil Seeds: Focus on various oil seeds
- Natural Farming: Support for 1 crore farmers
- Shrimp Production & Export: Financing through NABARD
- Digital Public Infrastructure (DPI): Coverage of farmers and lands
Employment & Skilling:
- Women Workforce Participation: Setting up hostels and creches
- Incentives for New Entrants: Wage incentives and EPFO contributions
- Education Loans: Up to ₹7.5 lakh with government guarantee
- Skilling Program: Training for 20 lakh youth
Inclusive Human Resource Development:
- Purvodaya: Economic opportunities for Eastern states
- Women’s Schemes: Over ₹3 lakh crore for women and girls
- Tribal Development: PM Janjatiya Unnat Gram Abhiyan for 63,000 villages
Manufacturing & Services:
- Industrial Parks: Development of twelve parks
- Internship Opportunities: Internships for 1 crore youth
- Rental Housing: Dormitory-type accommodation for industrial workers
- Critical Minerals Mission: Production and recycling of critical minerals
Urban Development:
- Stamp Duty: Encourage states to lower duties for women
- Street Markets: Development of 100 weekly ‘haats’
- Transit-Oriented Development: Plans for large cities
- Water Management: Promotion of sewage treatment and waste management
- Housing: PM Awas Yojana Urban 2.0 with ₹10 lakh crore investment
Energy Security:
- Bharat Small Reactors: Development and R&D
- Energy Audit: Investment-grade audits in 60 clusters
- Pumped Storage Policy: NTPC-BHEL joint venture for an 800 MW plant
- Clean Energy: Support for cleaner energy forms
- PM Surya Ghar Muft Bijli Yojana: Free electricity for 1 crore households
Rural Connectivity:
- Phase IV of PMGSY: Connectivity to 25,000 rural habitations
- Irrigation and Flood Mitigation: ₹11,500 crore for various projects
Innovation, Research & Development:
- National Research Fund: Anusandhan National Research Fund for basic research
- Private Sector Innovation: ₹1 lakh crore for research
- Space Economy: ₹1,000 crore venture capital fund
Tourism:
- Cultural and Heritage Development: Initiatives for Vishnupad Temple Corridor, Mahabodhi Temple Corridor, and others
Priorities for Viksit Bharat:
- Next Generation Reforms: Land registry and digitization
- Climate Finance: Capital for adaptation and mitigation
- Foreign Direct Investment (FDI): Simplified processes
- NPS Vatsalya: Contributions for minors
- Data Governance: Improved data management
Economic Foundations:
- Growth: 8.2% in FY 2024
- Fiscal and Inflation: Decreasing fiscal deficit and NPAs
Tax Proposals:
- Simplification: Review of Income Tax Act, simplified charity and TDS processes
- Sector-Specific Customs Duty: Reduced duties on mobile phones, gold, silver, critical minerals
- Direct Tax Proposals: Short-term and long-term capital gains tax rates, increased exemptions
- New Tax Regime:
- ₹0-3 lakh: Nil
- ₹3-7 lakh: 5%
- ₹7-10 lakh: 10%
- ₹10-12 lakh: 15%
- ₹12-15 lakh: 20%
- ₹15 lakh: 30%
Banking news
SIDBI To Build $1B Fund For Green Financing With $215 M
The Small Industries Development Bank of India (SIDBI), which received approval of funding of $ 215.6 m from the Green Climate Fund, will create a corpus of $1 billion for ‘financing mitigation and adaptation projects’ (FMAP) of Medium and Small Enterprises (MSMEs). The board of the Green Climate Fund, which is an entity set up by the United Nations Framework Convention on Climate Change (UNFCCC), approved a $200 million loan and $15.6 million grant for capacity building to SIDBI.
Ranks and reports news
21.71% of country’s area under forest cover: MoS Kirti Vardhan Singh
According to Kirti Vardhan Singh, the Union Minister of State for Environment, Forest and Climate Change, the country’s total forest cover is 7,13,789 square kilometres or 21.71% of its geographical area. The minister gave this information in the Lok Sabha on 22 July 2024.
- The Minister gave this information by quoting the India State of Forest Report (ISFR) 2021.
- The India State of Forest Report is prepared biennially by the Forest Survey of India, which is based in Dehradun, Uttarakhand.
- The Forest Survey of India comes under the Union Ministry of Environment, Forest and Climate Change.
Highest Forest Cover:
- Madhya Pradesh: Leads with 77,493 square kilometres under forest cover.
- Other States: Arunachal Pradesh, Chhattisgarh, Odisha, and Maharashtra also have significant forest areas.
Lowest Forest Cover:
- Union Territories:
- Chandigarh: Has the least forest cover with only 23 square kilometres.
- Lakshadweep: Follows with 27 square kilometres.
- Puducherry: Has 57 square kilometres of forest cover.
- States:
- Haryana: Least forest cover among states with 1,603 square kilometres.
- Punjab: Second least with 1,847 square kilometres.
Uttarakhand Launches Gross Environmental Product (GEP) Index
Uttarakhand became the first state in the world to launch a Gross Environmental Product (GEP) index to assess the overall development of the ecosystem.
The index was launched by Pushkar Singh Dhami, Chief Minister(CM) of Uttarakhand, during a event held in Dehradun, Uttarakhand.
About the GEP Index:
- Objective: To assess the overall development of the ecosystem by assigning monetary value to key environmental components affected by development activities.
- Main Constituents:
- Water
- Air
- Forests
- Soil
- Components: The GEP index is part of the green Gross Domestic Product (GDP), which integrates environmental factors into economic growth assessments.
- Comparative Data: The index shows data from 2020 to 2022, with a 0.9% increase.
- Usage: Measures ecosystem services’ status and evaluates the impact of human activities on ecosystems and natural resources.
About Uttarakhand:
- Chief Minister (CM)- Pushkar Singh Dhami
- Governor-General (Retired) Gurmit Singh
- Wildlife Sanctuaries- Askot wildlife sanctuary; Sonanadi wildlife sanctuary
- Tiger Reserve– Corbett Tiger Reserve; Rajaji Tiger Reserve
Appointment news
KV Subramanian appointed as Federal Bank MD & CEO
The Kochi-based private sector bank Federal Bank has announced the appointment of Krishnan Venkat Subramanianas the new managing director (MD) and chief executive officer (CEO) of the bank. He will succeed Shyam Srinivasan, the longest-serving managing director and CEO of the bank.
About Federal Bank
- The private sector Federal Bank was established as Travancore Federal Bank Limited on 23 April 1931.
- The bank was renamed as Federal Bank Limited in December 1949.
- The Bank became a scheduled commercial bank in July 1970.
- Headquarters: Aluva, Kochi, Kerala
- MD & CEO: Shyam Srinivasan
- Tagline: Your Perfect Banking Partner
Science And Tech News
China Unveils World’s First Carbon Fiber High-Speed Train
China has built the world’s first passenger train made from carbon fibre, a material that makes it much lighter and more energy-efficient than conventional trains. The metro train – known as Cetrovo 1.0 or the Carbon Star Rapid Transit – was unveiled in Qingdao, in the eastern province of Shandong, on July 17.
Ready to go into operation
It has completed in-factory testing and is ready to go into operation in the coastal city later this year, according to its developer Qingdao Sifang Rolling Stock Co, a subsidiary of China Railway Construction Corporation.
China:
- Capital: Beijing
- President: Xi Jinping
Sports news
Abhinav Bindra: 1st Indian to be Honoured with Olympic Order by IOC
The International Olympic Committee (IOC) has awarded its prestigious Olympic Order to the ace Indian shooter Abhinav Bindra. The award, which recognises Abhinav Bindra’s outstanding service to the Olympic movement, will be bestowed on him on 10 August 2024 during the 142nd IOC Session in Paris, France.
Paris will host the 33rd Summer Olympics from 26 July to 11 August 2024.
About Abhinav Bindra and the Olympics
- Abhinav Bindra was the first Indian athlete to win an individual gold medal in the olympics.
- He won a gold medal in the men’s 10-metre air rifle event at the 2008 Beijing Olympics.
- Before Bindra, India had won gold in the Olympics, but only in the men’s hockey event.
- Abhinav Bindra was the first Indian athlete to donate his gold medal-winning sports equipment to the Olympic Museum in Lausanne, Switzerland.
- Neeraj Chopra is the second Indian to donate his gold-winning Javelin to the Olympic Museum. Neeraj Chopra won the gold medal in the 2020 Tokyo Olympics in the javelin event.
PR Sreejesh Announces Retirement After Paris Olympics 2024
Indian hockey goalkeeper PR Sreejesh, a pivotal figure in the sport, has announced that he will retire from international hockey following the Paris Olympics 2024. This decision marks the end of an illustrious career, characterized by significant achievements and a lasting impact on the team.
A Legacy of Success and Leadership
Sreejesh, who debuted internationally in 2006, has played a crucial role in Indian hockey’s resurgence. His career has seen highs and lows, including the team’s failure to qualify for the Beijing 2008 Olympics and a disappointing finish in London 2012. However, his leadership and perseverance were instrumental in India’s impressive performances at subsequent events. Sreejesh captained the team in Rio 2016 and played a key role in securing a bronze medal at Tokyo 2021.
Memorable Achievements and Awards of Sreejesh
- Asian Games: Gold Medals: 2014, 2023
- Commonwealth Games: Silver Medals: 2014, 2022
- Major Dhyan Chand Khel Ratna: Awarded: 2021
- Padma Shri: Awarded: 2017
- FIH Goalkeeper of the Year: Back-to-Back Awards: 2021, 2022
- Asian Champions Trophy: Victories: Four-time champion with the Indian team
Important days
National Broadcasting Day in India Observed Annually on July 23
National Broadcasting Day in India, celebrated every year on July 23, marks the journey of the nation’s broadcasting sector since its beginning in 1927. This day underscores the significant contribution broadcasting has made to India’s development, educational efforts, and cultural preservation. As India commemorates another National Broadcasting Day, it looks forward to a future where broadcasting remains a vital tool for national unity, education, and empowering citizens.
Historical Background
- Early Beginnings: Indian broadcasting began with the Radio Club of Bombay’s first transmission in June 1923.
- Organized Broadcasting: The Indian Broadcasting Company (IBC) was established on July 23, 1927, marking the start of organized radio broadcasting. This date is now celebrated as National Broadcasting Day.
- Major Milestone: In 1936, All India Radio (AIR) emerged from the Indian State Broadcasting Service.
- Post-Independence Growth: AIR expanded rapidly post-independence, adopting the name “Akashvani” in 1956.
- Current Reach: AIR now operates 591 stations, reaching 98% of India’s population and broadcasting in 23 languages and 146 dialects.
Significance of Broadcasting in India
- Independence Struggle: Radio was vital for disseminating information and fostering unity during the independence movement.
- Post-Independence Role: Radio has promoted literacy, health awareness, and agricultural knowledge, especially in rural areas.
- Global Reach: AIR’s External Services Division broadcasts to over 100 countries, connecting with the global diaspora.
Modernization: The introduction of FM channels and digital transmission using Digital Radio Mondiale (DRM) technology shows AIR’s commitment to modernization.