28 June 2024 Current Affairs

28 June 2024 Current Affairs

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National News

Swachh Bharat Mission-Urban targets to have waste processing plants in all cities of the State by 2026

  • The Ministry of Housing and Urban Affairs MoHUA approves ₹860.35 Cr for West Bengal under (Swachh Bharat Mission) SBM-U 2.0, increasing total allocation to ₹1449.30 Cr.
  • Focus on waste management and sanitation advancements, with 118 legacy waste dumpsites identified.
  • Bio-mining and bioremediation methods initiated at Dhapa landfill, Kolkata.
  • West Bengal plans 4800 composting plants, 4500 Material Recovery Facilities (MRFs), and 2216 Secured Landfill Facilities (SLFs).
  • Approval for 460 Compressed Bio-Gas (CBG) plants and ₹217 Cr for legacy waste site remediation.
  • Additional ₹209 Cr released by GoI to expedite projects; aim to establish waste processing plants in all cities by 2026.

Ministers responsible: Manohar Lal Khattar, Cabinet Minister; Tokhan Sahu, Minister of State

West Bengal:

  • Chief minister: Mamata Banerjee
  • Capital: Kolkata
  • Governor: C. V. Ananda Bose


State news

Madhya Pradesh Ministers to Pay Tax on their Salaries and Allowances

The Madhya Pradesh cabinet, in a meeting held in Bhopal on 25 June 2024 and presided over by Chief Minister Mohan Yadav, decided that the state ministers would have to pay Income tax on their salaries and allowances received as ministers from their own pockets. 

  • The proposal tabled at the state government’s cabinet meeting was approved unanimously. 
  • In 1972, the Madhya Pradesh government decided that the IncomeTax Act 1961 on the salaries and allowances of the ministers would be paid by the state government, and there would be no burden on the individual ministers. 
  • The state government took this decision under the Income Tax Act 1961 provisions. Thus, after 52 years, the state government has changed the rules.

About Madhya Pradesh and its State Symbols

Madhya Pradesh was formed as Madhya Bharat on 28 May 1948 and adopted its current name on 1 November 1956.

It is the second largest state in India after Rajasthan, areawise.

  • Current Governor: Mangubhai Patel
  • Capital: Bhopal
  • State Symbols of Madhya Pradesh 
  • State Language: Hindi
  • State Dance: Rai
  • State Animal: Swamp Deer
  • State Bird: Dudhraj
  • State Fish: Mahseer
  • State Flower: Lily
  • State Tree: Banyan
  • State River: Narmada 
  • State Sport: Malkhamb

Central Electronics Limited (CEL) Granted Mini RATNA Status (Category-1)

At its Golden Jubilee celebration, Central Electronics Limited (CEL) was honored with “Mini RATNA” status (Category-1) by Union Minister Dr. Jitendra Singh. This recognition underscores CEL’s transformation from a loss-making PSU to a profitable entity, achieving a net profit of approximately Rs 58 crore and consistently paying dividends to the Government of India for three consecutive years.

A Miniratna company in India is categorized based on its financial performance and operational criteria. Here are the key points:

Definition and Categories:

  • A Miniratna company is a public sector undertaking (PSU) in India that exhibits good operational efficiency and financial stability.
  • There are two categories:
    • Miniratna Category I: Requires consistent profitability over the past three years and a minimum pre-tax profit of ₹30 crore annually or an average annual turnover of ₹120 crore during the same period.
    • Miniratna Category II: Requires profitability in the last three years and a minimum pre-tax profit of ₹20 crore in at least one of those years or an average annual turnover of ₹80 crore over the same period.

Benefits:

  • Financial Autonomy: Category I companies can make investment decisions up to ₹500 crore or 15% of their net worth, whichever is lower. Category II companies can invest up to ₹300 crore or up to 50% of their net worth, whichever is lower.
  • Operational Flexibility: They have more freedom in decision-making processes compared to other PSUs, allowing for quicker responses to market dynamics and operational needs.

Impact and Role:

  • These companies play a significant role in sectors such as telecommunications, aviation, defence, and engineering, contributing to India’s economic growth and development.

This status empowers Miniratna companies to operate more independently while fulfilling their mandates within their respective industries.

Central Electronics Limited:

  • It was established in 1974
  • Headquarters: New delhi
  • Chairman and Managing Director: Shri Chetan Prakash Jain

International News

India Makes Contribution Of 1.16 Million Dollars To The UN For Promotion Of Hindi

India has contributed $1.16 million to the United Nations for the promotion of Hindi. This contribution was handed over by R. Ravindra, the charge d’affaires of India’s Permanent Mission, to Ian Phillips, the director of the News and Media Division of the UN’s Department of Global Communications (DGC).

  • Since 2018, India has partnered with the DGC through the Hindi @ UN project, which aims to enhance the UN’s public outreach in Hindi and spread awareness about global issues among Hindi-speaking people worldwide.
  • The UN produces a weekly Hindi audio news bulletin and maintains Hindi social media accounts on platforms such as X (formerly Twitter), Instagram, and Facebook, as well as a news website. Financial constraints have limited the expansion of the UN’s multilingual efforts, which is why India is funding the Hindi initiative.


Economy news

India likely to Grow at 7.5% in FY25: NCAER

  • National Council of Applied Economic Research released a report India’s real GDP growth for FY25 may reach around 7.2%, up from earlier projections of 7%.
  • High frequency indicators suggest resilience and growth dynamism in the Indian economy.
  • Various agencies, including the RBI, have upgraded growth projections, with a median estimate around 6.9%.
  • Global growth projections for 2024 have also been revised upward by international bodies like the IMF and World Bank, ranging between 2.6% and 3.2%.


Banking news

ICICI Bank M-Cap Tops $100 bn; Becomes Only Sixth Indian Co to Hit Milestone

  • On June, ICICI Bank’s market capitalization crossed $100 billion, making it the sixth Indian company to achieve this milestone.
  • Shares closed at Rs 1,199, up 2.5%, valuing the bank at Rs 8.44 trillion ($100 billion).
  • Over the past year, ICICI Bank’s share price rose nearly 29%, outperforming indices like NSE Nifty 50 and Bank Nifty.
  • Q1FY25 results scheduled for July 27, 2024; Q4FY24 saw a standalone net profit increase to Rs 10,707.5 crore, up 17.4% year-on-year.
  • Declared a dividend of Rs 10 per equity share of face value Rs 2 each.
  • Previously, Infosys had also achieved the milestone.

ICIC bank:

  • CEO: Sandeep Bakhshi (15 Oct 2018–)
  • Founded: 1994, Vadodara
  • Headquarters: Mumbai

Award news

GRSE Wins Sustainable Governance Champion Award

Garden Reach Shipbuilders & Engineers (GRSE) Ltd. has been honoured with the “Sustainable Governance Champion Award” at the Outlook Planet Sustainability Summit & Awards 2024. This recognition highlights GRSE’s unwavering commitment to sustainable practices and governance excellence.

About Garden Reach Shipbuilders & Engineers Ltd (GRSE)

  • Establishment and History: Garden Reach Shipbuilders & Engineers Ltd (GRSE) is a prominent shipyard in India, situated in Kolkata. It was founded in 1884 as a small private company on the eastern bank of the Hooghly River.
  • Renaming and Nationalization: Initially known as Garden Reach Workshop, it was renamed GRSE in 1916. The Government of India nationalized GRSE in 1960.
  • Miniratna Status: GRSE was conferred with Miniratna status in September 2006, granting it financial and operational autonomy.
  • Core Activities: GRSE specializes in building and repairing both commercial and naval vessels. It also exports ships constructed by the company.
  • Achievements: GRSE holds the distinction of being the first Indian shipyard to construct 100 warships.

Sports news

Indian Track Athlete Kiran Pahal Qualifies For Paris Olympics 

Kiran Pahal, a 24-year-old track athlete from Haryana, has qualified for the Paris Olympics in the Women’s 400m event.

  • She clocked 50.92 seconds in the semi-finals at the National Inter-State Senior Athletics Championships in Panchkula, surpassing the Olympic qualification mark of 50.95 seconds.
  • This achievement makes Kiran the second-fastest Indian runner in the women’s 400m, behind Hima Das, who holds the national record of 50.79 seconds set at the 2018 Asian Games in Jakarta.
  • The final of the women’s 400m event will be held today. The Inter-State Championships serve as the last opportunity for India’s athletes to qualify for the Olympics.


David Warner Retires From International Cricket

The cricketing world bid farewell to one of its most dynamic players as David Warner officially retired from international cricket. Warner’s illustrious 15-year career with the Australian national team came to an end following Australia’s elimination from the T20 World Cup in the Super Eight phase.

The Final Chapter

Warner’s retirement unfolded in stages:

  • Final ODI: November 2023, World Cup final victory over India
  • Last Test: January 2024, against Pakistan
  • T20 Swansong: T20 World Cup 2024


Science news

DG, RPF launches Sangyaan App- A Comprehensive application for legal reference

Director General of RPF, Shri Manoj Yadava, unveils Sangyaan App for Android and iOS.

  • Purpose: Educates RPF personnel on new laws like Bharatiya Nyaya Sanhita BNS 2023, Bharatiya Nagarik Suraksha Sanhita  BNSS 2023, and Bharatiya Sakshya Adhiniyam  BSA 2023, enhancing operational understanding.
  • Inclusive Legal Database: In addition to the three new laws, the app includes other essential legal acts and rules related to railway security. This includes The Railway Protection Force Act, 1957, The Railway Act, 1989, The Railway Property (Unlawful Possession) Act, 1966 and RPF Rules, 1987. This comprehensive database ensures that users have access to all critical legal information relevant to railway protection at fingertips.
  • Features: Includes user-friendly navigation, offline access, and searchable database of legal texts.
  • Key Tools: Allows comparison between new and old laws, section-wise analysis, and advanced search capabilities.
  • Comprehensive Database: Covers essential railway security laws like RPF Act, Railway Act, and related rules, aiding legal reference during operations.


Appointment news

Kapil Dev elected as the President of Professional Golf Tour of India

  • Renowned Indian cricketer and ardent amateur golfer Kapil Dev has been elected as the new president of the Professional Golf Tour of India(PGTI)
  • He was elected after the previous president, H Srinivasan, withdrew his candidature for the President’s post.
  • Kapil Dev, the captain of the 1983 Men’s Cricket World Cup winning team has been the vice president and member of PGTI’s governing body for the last three years.
  • Kapil Dev, nicknamed Haryana Hurricane for his all-around cricket ability, was also the Kapil Dev-Grant Thornton Invitational host for the past three years.
  • Kapil Dev has played a pivotal role in developing professional golf in the country by being a member of the  Professional Golf Tour of India.

professional golf tour:

  • The PGTI, formed in 2006
  • Headquarters- Gurugram, Haryana 
  • Head- golfer Kapil Dev


Aksha Mohit Kamboj Appointed Vice President of India Bullion Jewellers Association

  • Mrs. Aksha Mohit Kamboj has been appointed as the Vice President of the India Bullion Jewellers Association (IBJA), effective from June, 2024. 
  • This historic appointment marks her as the first woman to hold this prestigious position in the gold and jewellery sector. Mrs. Kamboj, known for her leadership as Executive Chairperson of Aspect Global Ventures Pvt Ltd and as a co-owner of the Tiigers of Kolkata cricket team, brings extensive experience and a commitment to industry excellence.

IBJA’s Role and Future Initiatives

  • Founded in 1919 and headquartered in Mumbai’s Zaveri Bazar, IBJA plays a crucial role in policy-making for the gold industry in India.
  • The association’s daily gold price declarations are utilized by the Ministry of Finance and the Reserve Bank of India. IBJA is currently setting up its own Domestic Gold Spot exchange in Navi Mumbai, underscoring its commitment to industry advancement and regulatory frameworks.


Defence news

Jaipur Military Station: 2nd military station to have plastic waste road

  • Jaipur Military Station has become the second military station in the country to have a road made of plastic waste. The plastic road was inaugurated on June 2024 by Major – General  R S Godara, General Officer Commanding of 61 Sub Area.
  • The first military station to have a road built up of plastic waste was the Narangi Military station, Guwahati, Assam in 2019.
  • The Jaipur military station road is 100 meters long, from Sagat Singh Road under bridge to Cubs Corner complex.
  • In line with the Indian Army’s policy to create sustainable and Green Military Stations, the road in Jaipur was constructed under the aegis of GE (South), CE Jaipur Zone, with the assistance of Deep constructions Pvt Ltd.
  • As compared to the conventional roads the roads made of plastic wastes are more durable, suffers less wear and tear,reduced water induction and increased sustainability.

Pioneer of Plastic Road 

Professor Rajagopalan Vasudevan of Thiagarajar College of Engineering, Madurai and his team at the Centre for Studies on Solid Waste Management (CSSWM) has developed and patented a technique to use plastic waste in making roads. The plastic waste is mixed with heated bitumen and the resultant mixture is coated over stone used for making roads.

Important days

Micro-, Small and Medium-sized Enterprises Day 2024

Every year on June 27, the world celebrates Micro-, Small and Medium-sized Enterprises (MSME) Day. This important observance highlights the crucial role these businesses play in our economies and communities.

2024 Theme: MSMEs and the SDGs

The 2024 theme focuses on “Leveraging Power and Resilience of Micro-, Small and Medium-sized Enterprises (MSMEs) to Accelerate Sustainable Development and Eradicate Poverty in Times of Multiple Crises“. This theme recognizes the potential of MSMEs to drive progress towards the United Nations Sustainable Development Goals (SDGs).

Why MSMEs Matter

MSMEs are the backbone of economies worldwide:

  • They make up 90% of businesses globally
  • They provide 60-70% of employment
  • They contribute to 50% of GDP in most countries

These businesses play a vital role in:

  • Supporting local economies
  • Creating jobs
  • Fostering innovation
  • Promoting inclusive growth

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