+91 9999466225 (Mon - Sat) info@anujjindal.in

01st-03rd July, 2023

“Report Fish Disease”, National Surveillance Programme for Aquatic Animal Diseases, Swachh Survekshan 2023, India’s first ever report on “Critical Minerals for India”, Coalition for Disaster Resilient Infrastructure, National Research Foundation (NRF) Bill, 2023, incentive schemes for green hydrogen and electrolysers, Report on Panchayat Development Index, at National Workshop on Panchayat Development Index, 5th edition of Youth Co: Lab National Innovation Dialogue India, 5G & beyond products and solutions, Versova–Bandra Sea Link, ‘Drone Police Unit’, Hemis Teschu Festival, electronics exports, five Vande Bharat Express trains, Anna Bhagya scheme, innovative schemes for farmers, Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24, Three Rafale fighter jets, United Nations Secretary-General António Guterres, International Monetary Fund, “Energy Transition Index 2023”., ‘Centralized Pool Buy-Out and Co-Lending Cell, RuPay card holders, ICICI Lombard General Insurance, production-linked incentive scheme for automobiles, ‘Scheme for Financial Assistance for Veteran Artists’, Shriram Finance Limited, RuPay Credit Card on UPI with UPI-enabled apps, Innovation vendor for Project Rosalind, Tata AIA Life Insurance, Centre for Monitoring Indian Economy, capital investment proposals, Ambassador and Permanent Representative of India to the World Trade Organization, International Day of Parliamentarism, International Asteroid Day, UK Points of Light honour, 5th UK-India Awards, ASK Private Wealth Hurun India Future Unicorn Index 2023, Senior Women’s National Football Championship, Australian record
  1. Shri Parshottam Rupala, Minister of Fisheries, Animal Husbandry and Dairying launched an android-based mobile app as “Report Fish Disease” under the National Surveillance Programme for Aquatic Animal Diseases.
  2. Ministry of Housing and Urban Affairs (MoHUA) launched the Field Assessment for the 8th edition of world’s largest urban swachhata survey, Swachh Survekshan 2023 – Mera Shehar, Meri Pehchan.
  3. Union Minister of Coal, Mines & Parliamentary Affairs Shri Pralhad Joshi has unveiled India’s first ever report on “Critical Minerals for India”, prepared by an expert team constituted by the Ministry of Mines.
  4. Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has given its approval for ratification of the Headquarters Agreement (HQA) between Government of India (Gol) and Coalition for Disaster Resilient Infrastructure (CDRI).
  5. Union Cabinet has approved the introduction of the National Research Foundation (NRF) Bill, 2023 in the Parliament.
  6. The Union Ministry of New and Renewable Energy rolled out the guidelines for the much-anticipated incentive schemes for green hydrogen and electrolysers.
  7. Report on Panchayat Development Index was released by the Union Minister of State for Panchayati Raj Shri Kapil Moreshwar Patil at National Workshop on Panchayat Development Index (PDI) in Delhi.
  8. Twelve top start-ups from across 9 Indian states working in agriculture, ed-tech, women’s livelihood, circular economy, and biodiversity were announced as winners at the 5th edition of Youth Co: Lab National Innovation Dialogue India.
  9. Department of Telecommunications has launched ‘5G & Beyond Hackathon 2023’ for shortlisting India-focused cutting-edge ideas that can be converted into workable 5G & beyond products and solutions.
  10. Seven different products from Uttar Pradesh have received GI tags.
  11. Maharashtra Chief minister Eknath Shinde announced to rename the upcoming Versova–Bandra Sea Link as Veer Savarkar Setu and Mumbai Trans Harbour Link as Atal Bihari Vajpayee Smruti Nhava Sheva Atal Setu.
  12. For the first time in India, Greater Chennai Police established a ‘Drone Police Unit’ to assist cops in aerial surveillance.
  13. Hemis Teschu Festival is organized at Hemis monastery, the biggest Buddhist monastery in Ladakh.
  14. Tamil Nadu has topped in the electronics exports in FY23.
  15. PM Modi flagged off five Vande Bharat Express trains from Rani Kamlapati Railway Station in Bhopal.
  16. Under its Anna Bhagya scheme, Karnataka govt will provide cash equivalent to the 5 kg of rice to the Below Poverty Line (BPL) families in exchange of rice.
  17. The Cabinet Committee on Economic Affairs (CCEA) approved a unique package of innovative schemes for farmers with a total outlay of Rs.3,70,128.7 crore.
  18. The Cabinet Committee on Economic Affairs has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24 (October – September) at Rs.315/quintal for a basic recovery rate of 10.25%.
  19. Three Rafale fighter jets of the Indian Air Force will take part in the Bastille Day celebrations over the Champs Elysees in Paris.
  20. Nasscom has signed an MOU with MIDAS (Manchester’s Inward Investment Agency) and MAG (Manchester Airports Groups) to promote innovation, investment, and technological exchange between Greater Manchester, in the UK, and India.
  21. The United Nations Secretary-General António Guterres has recently removed India from a list of countries mentioned in a report on children and armed conflict.
  22. Earlier, Argentina ranked first with USD 46 billion, Egypt stood in second place with USD 18 billion, Ukraine came in third with USD 12.2 billion, Ecuador took the fourth spot with USD 8.2 billion, and Pakistan was at fifth position with USD 7.4 billion in terms of the loans taken from the International Monetary Fund (IMF),
  23. World Economic Forum has released the “Energy Transition Index 2023”.
  24. An international think-tank, Institute for Economics and Peace (HQ – Sydney) has released the Global Peace Index 2023 (17th edition).
  25. Bank of India has launched a ‘Centralized Pool Buy-Out and Co-Lending Cell’ to boost priority sector lending.
  26. National Payments Corporation of India (NPCI) has partnered with Priority Pass Access India to enable RuPay card holders to access airport lounges.
  27. ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched a combi product, ‘iShield’, which will provide customers with both health and life insurance under the “use and file” procedure.
  28. Automaker Mahindra & Mahindra Ltd. has become the first company to receive the eligibility certificate under the production-linked incentive scheme for automobiles (Auto PLI).
  29. The Ministry of Culture has appointed Canara Bank for the disbursal of financial assistance to veteran artists under the ‘Scheme for Financial Assistance for Veteran Artists’.
  30. Shriram Finance Limited has partnered with leading payments and financial services company Paytm to offer digital credit for small merchants.
  31. Kotak Mahindra Bank and National Payments Corporation of India (NPCI) partnered to allow the bank’s customers to use their RuPay Credit Card on UPI with UPI-enabled apps.
  32. Digital transformation solutions company UST has announced its role as an Innovation vendor for Project Rosalind.
  33. Tata AIA Life Insurance has introduced WhatsApp Premium, a new feature, to let its customers pay policy premiums through WhatsApp only.
  34. According to the Centre for Monitoring Indian Economy, the unemployment rate increased to 8.45% in June from 7.68% in the previous month.
  35. Department of Expenditure under the Finance Ministry has approved capital investment proposals of Rs 56,415 crore for 16 states in the current financial year 2023-24.
  36. Department of Expenditure has given a boost to reforms by the states in power sector by providing financial incentives in the form of additional borrowing permissions.
  37. Central government extended the tenure of Brajendra Navnit as Ambassador and Permanent Representative of India to the World Trade Organization (WTO) by nine months till March 31, 2024.
  38. June 30 – International Day of Parliamentarism; Theme – Parliaments for the Planet
  39. June 30 – International Asteroid Day
  40. British Prime Minister Rishi Sunak has honoured Rajindar Singh Dhatt, one of the last surviving Sikh soldiers who fought in the Second World War, with a UK Points of Light honour at a UK-India Week reception at 10 Downing Street in London.
  41. Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual 5th UK-India Awards in Windsor, south-eastern England.
  42. Hurun Research Institute has released ASK Private Wealth Hurun India Future Unicorn Index 2023.
  43. Tamil Nadu won Senior Women’s National Football Championship after defeating Haryana.
  44. Steve Smith broke an Australian record for the fastest batter to score 9000 runs in Test cricket.

Table of Content

National News

  1. Shri Parshottam Rupala, Minister of Fisheries, Animal Husbandry and Dairying launched an android-based mobile app as “Report Fish Disease” under the National Surveillance Programme for Aquatic Animal Diseases.
      • Developer – ICAR-National Bureau of Fish Genetic Resources (NBFGR), Lucknow
      • The Department of Fisheries has allocated ₹33.78 crore for a period of three years for the implementation of the second phase of the NSPAAD under the PMMSY scheme.
        Source: PIB
  2. Ministry of Housing and Urban Affairs (MoHUA) launched the Field Assessment for the 8th edition of world’s largest urban swachhata survey, Swachh Survekshan 2023 – Mera Shehar, Meri Pehchan.
      • Under SS 2023, around 3,000 assessors will take the field for assessment from 1 July, 2023. The assessors will study performances of 4500+ cities across 46 indicators and it is expected to be completed within a month.
      • Swachh Survekshan 2023 indicators focus on parameters pertaining to segregated door-to-door waste collection, zero waste events, Divyang-friendly toilets, improved plastic waste management and cleaning back lanes, wherein the marks have been increased this year.
      • The new indicator of Waste to Wonder Parks has been introduced with 2% weightage.
      • Swachh TULIP, primarily for more than 1 lakh population cities enters SS 2023 as a new indicator.
      • Swachh Survekshan 2023 was rolled out on 24 May, 2022, with telephonic feedback from citizens on various parameters of city cleanliness.
        Source: PIB
  3. Union Minister of Coal, Mines & Parliamentary Affairs Shri Pralhad Joshi has unveiled India’s first ever report on “Critical Minerals for India”, prepared by an expert team constituted by the Ministry of Mines.
      • For the first time, India has identified the comprehensive list of critical minerals taking into account the requirements of sectors like defence, agriculture, energy, pharmaceutical, telecom etc.
      • 30 critical minerals have been identified in the report.
      • India has become the newest partner in the coveted Mineral Security Partnership (MSP).
        Source: PIB
  4. Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has given its approval for ratification of the Headquarters Agreement (HQA) between Government of India (Gol) and Coalition for Disaster Resilient Infrastructure (CDRI).
      • On the 28th August, 2019, the Cabinet had approved the setting up of CDRI along with its supporting Secretariat in New Delhi and gave the approval for Government of India financial support of Rs. 480 crores to CDRI over a period of 5 years from 2019-20 to 2023-24.
      • Since its launch, thirty-one (31) Countries, six (06) International Organizations and two (02) private sector organizations have become members of CDRI.
        Source: PIB
  5. Union Cabinet has approved the introduction of the National Research Foundation (NRF) Bill, 2023 in the Parliament.
      • The bill seeks to establish NRF as an apex body to provide high-level strategic direction of scientific research in the country as per recommendations of the National Education Policy (NEP), at a total estimated cost of Rs. 50,000 crores during five years (2023-28).
      •  

        Administration of NRF –

        • The Department of Science and Technology (DST) will be the administrative Department of NRF which will be governed by a Governing Board consisting of eminent researchers and professionals across disciplines.
        • Prime Minister will be the ex-officio President of the Board and the Union Minister of Science & Technology & Union Minister of Education will be the ex-officio Vice-Presidents.
        • NRF’s functioning will be governed by an Executive Council chaired by the Principal Scientific Adviser to the Government of India.

         

        Functioning of NRF –

        • NRF will forge collaborations among the industry, academia, and government departments and research institutions, and create an interface mechanism for participation and contribution of industries and state governments in addition to the scientific and line ministries.
        • It will focus on creating a policy framework and putting in place regulatory processes that can encourage collaboration and increased spending by the industry on R&D.

         

        Abolition of SERB –

        • The bill will also repeal the Science and Engineering Research Board (SERB) established by an act of Parliament in 2008 and subsume it into NRF which has an expanded mandate and covers activities over and above the activities of SERB.
          Source: PIB
  6. The Union Ministry of New and Renewable Energy rolled out the guidelines for the much-anticipated incentive schemes for green hydrogen and electrolysers.
      • Out of the ₹17,490 crore allocated for the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT), ₹13,050 crore would go for incentivizing production of green hydrogen, while another ₹4,440 crore would go for electrolyser production.
      • Under the scheme, a direct incentive in terms of ₹per kilogram of green hydrogen will be provided for a period of three years from the date of commencement of green hydrogen production.
      • The incentives will be capped at ₹50 per kg in the first year of production, ₹40 per kg during the second year of production and ₹30 per kg in the third year of production.
      • The ministry would provide a base incentive of ₹4,400 per kilowatt in the first year of production, which will gradually decline on an annual basis.
      • The incentives for electrolysers will be provided for 5 years from the date of commencement of manufacturing of electrolysers.
        Source: LiveMint
  7. Report on Panchayat Development Index was released by the Union Minister of State for Panchayati Raj Shri Kapil Moreshwar Patil at National Workshop on Panchayat Development Index (PDI) in Delhi.
About Panchayat Development Index -
· Objectives:
    o To promote Localization of SDGs by creating awareness among panchayats and stakeholders about their importance.
    o To encourage panchayats to adopt best practices and innovations to improve their performance in achieving SDGs.
· It is a composite index that measures performance of panchayats in achieving Localization of Sustainable Development Goals (SDGs).
· It provides holistic and evidence-based assessment of the development status of panchayats, highlighting their strengths and weaknesses.
· Nodal Ministry: Ministry of Panchayati Raj
· Ranking and Categorization:
    o It provides rankings for panchayats at different levels, including district, block, and village, based on their overall scores.
    o It categorizes panchayats into four grades: A+ (above 90%), A (75-90%), B (60-75%), C (40-60%) and D (scores under 40%).
· 9 Themes/Focus Areas: (i) Poverty-free and enhanced livelihood, (ii) healthy village, (iii) child-friendly village, (iv) water-sufficient village, (v) clean and green village, (vi) self-sufficient infrastructure, (vii) socially just and secured villages, (viii) good governance, and (ix) women-friendly village.
· Benefits:
    o It can be used by States/UTs for Panchayati Raj Awards and to emphasize a data-driven and evidence-based approach to development.
    o It serves as a tool for planning, monitoring, and evaluating schemes implemented by panchayats and other agencies aligned with the SDGs.
    o It facilitates sharing of knowledge and experiences among panchayats and stakeholders for learning and replication of successful models and interventions.
Pilot project of PDI and Report Highlight -
· It was carried out in four districts of Maharashtra- Pune, Sangli, Satara, and Solapur.
· Data collected form it, was used to compile the report.
· Findings of Pilot study: It showed that 70% of the panchayats in the four districts of Maharashtra fall in Category C, while 27% are in Category B.
Knowledge Nuggets -
· India is a signatory to United Nation 2030 Agenda for achieving inclusive; people centric and holistic Sustainable Development through 17 Goals.
· Nodal institution for implementation of SDGs: NITI Aayog
· Ministry of Panchayati Raj is anchoring the process of Localization of Sustainable Development Goals (LSDGs) in PRIs.
Source: PIB

  1. Twelve top start-ups from across 9 Indian states working in agriculture, ed-tech, women’s livelihood, circular economy, and biodiversity were announced as winners at the 5th edition of Youth Co: Lab National Innovation Dialogue India.
      • The winning 12 start-ups receive seed funding of up to $5,000 to scale up their innovations. The runners-up received US$ 3,000.
      • The 2022-23 edition received 378 applications from 28 states across the country.
      • Youth Co: Lab India 2022-23 focused on 6 thematic areas, which are
        • Digital and Financial Literacy for Youth,
        • Gender Equality and Women’s Economic Empowerment,
        • Developing FinTech Solutions focused on Biodiversity Conservation,
        • Promoting Biodiversity-friendly Lifestyles through Technological Solutions in Finance,
        • Accelerating Circular Economy through Upcycling Innovations and,
        • Behavioural Nudges for LiFE (Lifestyle for Environment).
      • Out of the applications, 47 short-listed start-ups received one-on-one mentoring and capacity-building sessions from experts for two months through the Youth Co: Lab Springboard Programme.
      • Youth Co: Lab National Innovation Dialogue 2022 have been announced.
CategoryWinnerFounders
Digital and Financial Literacy for Youth1. SaralX- Enhancing access and opportunities for people with disabilities
2. Edubuild - Experinships for youth
1. Akashdeep Bansal
2. Saksham Gupta
Gender Equality and Women Economic Empowerment1. Project Baala - Menstrual hygiene for economically marginalized menstruators (Mumbai)
2. Agrosure - Mechanisation solution for women farmers
1. Soumya Dabriwal
2. Akshay Dipak Kawale
Developing FinTech Solutions focused on Biodiversity Conservation1. Gepo Aali - To nurture back the lost indigenous crop variety of the region using ancestral farming practices
2. Nutty Village - Managing farm to fork organic value chain in groundnuts (UP)
1. Dimum Pertin
2. Aman Kumar
Promoting Biodiversity-friendly Lifestyles through Technological Solutions in Finance1. Promeat - Plant based meat (Assam)
2. Myplan 8 - Incentivising spend on low carbon sustainable alternatives
1. Debabrata Das
2. Rajat Sohan Vishwakarma
Accelerating Circular Economy through Upcycling Innovations1. Dump in Bin - Using plastic waste in pavement manufacturing
2. Econscious - Functional and aesthetic recycled plastic products
1. Rishabh Patel
2. Sonal Shukla
Behavioral Nudges for LiFE (Lifestyle for Environment)1. Digi Swasthya- Telemedicine for rural India
2. Sputnik Brain - Non-invasive brain modulation for stress management
1. Sandeep Kumar
2. Shankar Sri
Knowledge Nuggets -
• Youth Co: Lab, co-created in 2017 by UN Development Programme (UNDP) and Citi Foundation, aims to establish a common agenda for countries in the Asia-Pacific region to empower and invest in youth, so that they can accelerate the implementation of Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.
• Youth Co: Lab was launched in India in 2019 in partnership with Atal Innovation Mission (AIM), NITI Aayog.
The Springboard Programme -
Source: Youth Co.Lab and PIB

  1. Department of Telecommunications has launched ‘5G & Beyond Hackathon 2023’ for shortlisting India-focused cutting-edge ideas that can be converted into workable 5G & beyond products and solutions.
      • The participants can develop 5G & beyond solutions from across multiple categories including –
        • Healthcare,
        • Education & Governance,
        • AgriTech & Livestock,
        • Environment,
        • Public Safety & Disaster Management Enterprise,
        • Smart Cities & Infrastructure,
        • Cyber Security,
        • Banking, Finance & Insurance,
        • Logistics & Transportation,
        • Multimedia & Broadcast Satellite, among others
      • The 5G & Beyond Hackathon is open to individuals, students, start-ups, and academic institutions in India.
        Source: PIB

State News

  1. Seven different products from Uttar Pradesh have received GI tags.
      • The Geographical Indications Registry is located at Chennai.
      • Products – ‘Amroha Dholak’, ‘Mahoba Gaura Patthar Hastashlip’, ‘Mainpuri Tarkashi’, ‘Sambhal Horn Craft’, ‘Baghpat Home Furnishings’, ‘Barabanki Handloom Product’ and ‘Kalpi Handmade Paper’
        Source: The Hindu and GI
  2. Maharashtra Chief minister Eknath Shinde announced to rename the upcoming Versova–Bandra Sea Link as Veer Savarkar Setu and Mumbai Trans Harbour Link as Atal Bihari Vajpayee Smruti Nhava Sheva Atal Setu.
      • Maharashtra cabinet also decided to expand the limit of Mahatma Jyotirao Phule Jan Arogya Yojana from ₹2 lakh to ₹5 lakh.
      • Other than the extension of Jan Arogya Yojana, the state cabinet gave a green nod to investment proposals worth ₹40,000 crore.
Knowledge Nuggets -
• The State Government of Maharashtra launched its flagship health insurance scheme, Rajiv Gandhi Jeevandayee Arogya Yojana (RGJAY) in 2012.
• The scheme is renamed as Mahatma Jyotirao Phule Jan Arogya Yojana (MJPJAY) from 1st April 2017.
• The Integrated Mahatma Jyotirao Phule Jan Arogya Yojana (MJPJAY) and Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) was launched in the state on 1st April, 2020.
• United India Insurance Company Limited (a PSU) is providing health insurance coverage to beneficiaries under the insurance mode.
• Mahatma Jyotirao Phule Jan Arogya Yojana is fully funded by Government of Maharashtra.
• Pradhan Mantri Jan Arogya Yojana is jointly funded by Government of India and Government of Maharashtra in the ratio of 60:40.
• The scheme provides coverage for meeting all expenses relating to hospitalization of beneficiary up to Rs 1,50,000/- per family per policy year.
Source: LiveMint and MPJAY

  1. For the first time in India, Greater Chennai Police established a ‘Drone Police Unit’ to assist cops in aerial surveillance.
      • A total of nine drones under three categories are available in this unit: Quick Response Surveillance Drones (6), Heavy Lift Multirotor Drone (1) and Long-Range Survey Wing Place (2).
        Source: IE
  2. Hemis Teschu Festival is organized at Hemis monastery, the biggest Buddhist monastery in Ladakh.
    Source: IE

  3. Tamil Nadu has topped in the electronics exports in FY23.
      • Tamil Nadu overtook three states – Uttar Pradesh, Karnataka and Maharashtra – to become India’s top exporter of electronic goods in FY23.
      • In FY23, Tamil Nadu exported electronic goods worth $5.37 billion.
        Source: HBL
  4. PM Modi flagged off five Vande Bharat Express trains from Rani Kamlapati Railway Station in Bhopal.
      • These five trains will boost connectivity in Madhya Pradesh, Karnataka, Maharashtra, Goa, Bihar and Jharkhand.
      • The five Vande Bharat Express trains are –
        • Rani Kamalapati (Bhopal)-Jabalpur Vande Bharat Express,
        • Khajuraho-Bhopal-Indore Vande Bharat Express,
        • Madgaon (Goa)-Mumbai Vande Bharat Express,
        • Dharwad-Bengaluru Vande Bharat Express,
        • Hatia-Patna Vande Bharat Express
          Source: LiveMint
  5. Under its Anna Bhagya scheme, Karnataka govt will provide cash equivalent to the 5 kg of rice to the Below Poverty Line (BPL) families in exchange of rice.
      • Reason – the state is unable to procure rice
        Source: ET

Agriculture and Rural Development

  1. The Cabinet Committee on Economic Affairs (CCEA) approved a unique package of innovative schemes for farmers with a total outlay of 3,70,128.7 crore.
A) Continuation of Urea Subsidy Scheme
• Purpose - to ensure constant availability of urea to the farmers at the same price of Rs 242/ 45 kg bag excluding taxes and neem coating charges.
• Out of above approved package, Rs. 3,68,676.7 crore have been committed for urea subsidy for three years (2022-23 to 2024-25).
• This is apart from recently approved Nutrient Based Subsidy of Rs 38,000 Crore for Kharif season for 2023-24.
    o NBS covers Nitrogen (N), Phosphorus (P), Potash (K) and Sulphur (S).
• At present, the MRP of urea is Rs.242 per 45 kg bag of urea (exclusive of charges towards neem coating and taxes as applicable), whereas the actual cost of the bag comes around Rs. 2200.
• Central Govt has increased fertilizer subsidy from Rs. 73,067 Cr in 2014-15 to Rs. 2,54,799 Cr in 2022-23.
B) Nano Urea eco-system strengthened
• By 2025-26, eight Nano urea plants with production capacity of 44 Crore bottles equalling to 195 LMT of conventional urea will be commissioned.
C) India to become Aatmanirbhar in Urea by 2025-26
• Indigenous production of urea has increased from the level of 225 LMT during 2014-15, to 250 LMT during 2021-22.
• In 2022-23, production capacity has increased to 284 LMT.
• These along with Nano Urea Plants will reduce our current import dependency in urea and finally make us self-sufficient by 2025- 26.
D) PM Programme for Restoration, Awareness Generation, Nourishment and Amelioration of Mother – Earth (PM-PRANAM)
• It was announced in the Budget that PM-PRANAM will be launched to incentivize States/ Union Territories to promote alternate fertilizers and balanced use of chemical fertilizers.
E) Rs. 1451.84 crore have been approved for Market Development Assistance (MDA) for promoting Organic Fertilizers from Gobardhan Plants
• Market Development Assistance (MDA) scheme in the form of Rs 1500 per MT to support marketing of organic fertilizers, viz., Fermented Organic Manures (FOM)/Liquid FOM/Phosphate Rich Organic Manures (PROM) produced as by-product from Bio- gas Plants/Compressed Biogas (CBG) Plants set up under umbrella GOBARdhan initiative.
• Such organic fertilizers would be branded in the names of Bharat Brand FOM, LFOM and PROM.
• 500 new waste-to-wealth plants will be set up under GOBARdhan scheme.
F) Introduction of Sulphur coated Urea (Urea Gold)
• Purpose - to address sulphur deficiency of soil and save input costs for the farmers
G) Pradhan Mantri Kisan Samruddhi Kendras (PMKSKs)
• Now, the Pradhan Mantri Kisan Samruddhi Kendras (PMKSKs) touched 1 lakh.
Source: PIB

  1. The Cabinet Committee on Economic Affairs has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24 (October – September) at 315/quintal for a basic recovery rate of 10.25%.
      • It has also been approved to provide a premium of Rs.3.07/quintal for each 0.1% increase in recovery over and above 10.25%, & reduction in FRP by Rs.3.07/quintal for every 0.1% decrease in recovery.
      • The FRP approved shall be applicable for purchase of sugarcane from the farmers in the sugar season 2023-24 (starting w.e.f. 1st October 2023) by sugar mills.
      • India is the second largest exporter of sugar in the world. In sugar season 2021-22, India has also become largest producer of sugar.
      • It is expected that India would become third largest ethanol producing country in the world by 2025-26.

Source: PIB

Defence News

  1. Three Rafale fighter jets of the Indian Air Force will take part in the Bastille Day celebrations over the Champs Elysees in Paris.
      • PM Narendra Modi will attend this year’s Bastille Day Parade as the guest of honour.
        Source: IE

Memorandum of Understanding

  1. Nasscom has signed an MOU with MIDAS (Manchester’s Inward Investment Agency) and MAG (Manchester Airports Groups) to promote innovation, investment, and technological exchange between Greater Manchester, in the UK, and India.
      • This MoU will lead to the establishment of the first Nasscom launchpad in the UK.
        Source: TOI

International News

  1. The United Nations Secretary-General António Guterres has recently removed India from a list of countries mentioned in a report on children and armed conflict.
      • The report highlighted the alleged recruitment and use of boys by armed groups in Jammu and Kashmir (J&K), as well as their detention, killing, and maiming by security forces.
        Source: CSR Journal
  2. Earlier, Argentina ranked first with USD 46 billion, Egypt stood in second place with USD 18 billion, Ukraine came in third with USD 12.2 billion, Ecuador took the fourth spot with USD 8.2 billion, and Pakistan was at fifth position with USD 7.4 billion in terms of the loans taken from the International Monetary Fund (IMF),
      • Now, Pakistan will overtake Ecuador to become the world’s fourth-largest IMF borrower with loans worth USD 10.4 billion.
      • IMF has recently approved a USD 3 billion to Pakistan under its standby arrangement.
Knowledge Nuggets -
• The Stand-by Arrangement (SBA) provides short-term financial assistance to countries facing balance of payments problems.
• Terms of Stand-by Arrangement -
A) Interest Rate -
o The market-determined Special Drawing Rights (SDR) interest rate—which has a minimum floor of 5 basis points—and a margin (currently 100 basis points), together known as the basic rate of charge.
o A surcharge of 200 basis points is paid on the amount of credit outstanding above 187.5% of quota. If credit remains above 187.5% of quota after three years, this surcharge rises to 300 basis points.
B) Duration
• Flexible. Typically covers a period of 12–24 months, but not more than 36 months.
C) Repayment
• Due within 3¼-5 years of disbursement. Each disbursement is repaid in eight equal quarterly instalments beginning 3¼ years after the date of each disbursement.

Source: BS and IMF

Reports and Indices

  1. World Economic Forum has released the “Energy Transition Index 2023”.
      • Total countries – 120
      • Top countries –
  • India’s rank –
  • Only 2 out of 120 countries – India and Singapore – are advancing across the equitable, secure and sustainable dimensions, each with its own unique transition journey.
  • Energy intensity CO² intensity CO² per capita Share of electricity Renewable capacity
    Source: Official Report
  1. An international think-tank, Institute for Economics and Peace (HQ – Sydney) has released the Global Peace Index 2023 (17th edition).
      • Total – 163 countries
      • Parameters 23 indicators across three domains: the level of Societal Safety and Security; the extent of Ongoing Domestic and International Conflict; and the degree of Militarisation
      • Top
  • India
  • Bottom
  • South Asia

Observation

  • In total, peacefulness improved in 84 countries and deteriorated in 79.
  • The average level of global peacefulness deteriorated by 0.42% in the 2023 Global Peace Index.
  • The total military spending increased by 17% since 2008 with the largest increases coming from China ($180 billion), the US ($70 billion), and India ($40 billion).
  • Global Progress –

Banking and Economy

  1. Bank of India has launched a ‘Centralized Pool Buy-Out and Co-Lending Cell’ to boost priority sector lending.
      • The Cell will be housed in the Bank’s Mumbai headquarters.
      • It will be equipped with an end-to-end digital underwriting system to onboard pool buy-out and co-lending of loans in partnership with NBFCs (non-banking finance companies).
        Source: HBL
  2. National Payments Corporation of India (NPCI) has partnered with Priority Pass Access India to enable RuPay card holders to access airport lounges.
      • With this partnership, the eligible RuPay card holders in India will be able to access over 50 premium lounges and airport experiences in major cities across India.
        Source: ET
  3. ICICI Lombard General Insurance and ICICI Prudential Life Insurance have jointly launched a combi product, ‘iShield’, which will provide customers with both health and life insurance under the “use and file” procedure.
      • A combi-product offers benefits of a life insurance, along with that of general or other insurance covers.
        Source: FE
  4. Automaker Mahindra & Mahindra Ltd. has become the first company to receive the eligibility certificate under the production-linked incentive scheme for automobiles (Auto PLI).
      • Now, the company can receive subsidies from the government under the Rs 25,938 crore scheme.
      • The certificate for M&M was awarded by the Automotive Research Association of India, which is a testing agency under the Heavy Industries ministry.
        Source: CNBC
  5. The Ministry of Culture has appointed Canara Bank for the disbursal of financial assistance to veteran artists under the ‘Scheme for Financial Assistance for Veteran Artists’.
      • Ministry of Culture has launched ‘Financial Assistance for Veteran Artists’ scheme under which financial assistance of Rs 6,000 per month is provided to artists and scholars above the age of 60 years.
      • Under the scheme, disbursal of financial assistance to artists selected before 2017 is currently made through LIC while for the artists approved post 2017, it is made directly by the ministry.
        Source: ET
  6. Shriram Finance Limited has partnered with leading payments and financial services company Paytm to offer digital credit for small merchants.
      • Through this partnership, Shriram Finance’s products will be made available on Paytm’s platform.
        Source: TOI
  7. Kotak Mahindra Bank and National Payments Corporation of India (NPCI) partnered to allow the bank’s customers to use their RuPay Credit Card on UPI with UPI-enabled apps.
      • With the linkage of Kotak RuPay Credit Cards on UPI, customers would not need to use their physical Credit Card.
      • Customers can make payments from the UPI app at merchant outlets with QR codes and POS devices across the country.
        Source: ET
  8. Digital transformation solutions company UST has announced its role as an Innovation vendor for Project Rosalind.
      • UST also partnered with Quant, the blockchain for finance pioneer, to provide the underlying infrastructure and blockchain platform.
Knowledge Nuggets -
• Project Rosalind is an experiment in application programming interface (API) prototypes for central bank digital currencies (CBDC) from the Bank for International Settlements and the Bank of England via the BIS Innovation Hub London Centre.
• Project Rosalind developed and tested prototypes for an application programming interface (API) specifically built to distribute retail CBDCs.
• It is based on a two-tier distribution model (central bank at the foundation of the retail CBDC system and customer-facing activities carried out by the private sector).
Source: IBS Intelligence and BIS

  1. Tata AIA Life Insurance has introduced WhatsApp Premium, a new feature, to let its customers pay policy premiums through WhatsApp only.
      • Tata AIA Life enabled the renewal of premium policies through several digital modes and integrated five languages — English, Hindi, Tamil, Gujarati and Bengali.
        Source: HBL
  2. According to the Centre for Monitoring Indian Economy, the unemployment rate increased to 8.45% in June from 7.68% in the previous month.
Source: BS

  1. Department of Expenditure under the Finance Ministry has approved capital investment proposals of Rs 56,415 crore for 16 states in the current financial year 2023-24.
      • The approval has been given under the scheme titled ‘Special Assistance to States for Capital Investment 2023-24’.
      • The scheme, which was announced in the Budget for 2023-24, special assistance is being provided to the state governments in the form of 50-year interest free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.
Knowledge Nuggets -
• In FY23, Centre’s capital expenditure exceeded the government’s revised estimate of Rs 7.28 lakh crore by Rs 8,551 crore.
• The Centre has already released two instalments of tax devolution totalling Rs 1.18 trillion for June instead of the normal monthly devolution of Rs 59,140 crore.
Source: IE

  1. Department of Expenditure has given a boost to reforms by the states in power sector by providing financial incentives in the form of additional borrowing permissions.
      • The initiative was announced by the Union Finance Minister in Union Budget 2021-22.
      • Under this initiative, an additional borrowing space of up to 0.5% of the Gross State Domestic Product (GSDP) is available to the States annually for a four-year period from 2021-22 to 2024-25.
      • Based on the recommendations of the Ministry of Power, the Ministry of Finance has granted permission for reforms undertaken in 2021-22 and 2022-23 to 12 State Governments.
      • Over the last two financial years, they have been allowed to raise financial resources of Rs. 66,413 crores through additional borrowing permissions.
        Source: PIB

Appointments

  1. Central government extended the tenure of Brajendra Navnit as Ambassador and Permanent Representative of India to the World Trade Organization (WTO) by nine months till March 31, 2024.
    Source: ET

Important Days

  1. June 30 – International Day of Parliamentarism; Theme – Parliaments for the Planet
    Source: LiveMint
  2. June 30 – International Asteroid Day
    Source: UN

Awards

  1. British Prime Minister Rishi Sunak has honoured Rajindar Singh Dhatt, one of the last surviving Sikh soldiers who fought in the Second World War, with a UK Points of Light honour at a UK-India Week reception at 10 Downing Street in London.
      • UK Points of Light honour was conferred upon Rajindar Singh Dhatt during the India Global Forum’s UK-India Week 2023.
        Source: IE
  2. Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual 5th UK-India Awards in Windsor, south-eastern England.
      • Filmmaker Shekhar Kapur, behind Oscar-nominated ‘Elizabeth: The Golden Age’, received a Lifetime Achievement Award.
      • The awards are organised by India Global Forum (IGF) as part of UK-India Week.
      • The Nehru Centre in London, the cultural wing of the Indian High Commission, won the UK-India Award for Significant Contribution to UK-India Relations.
        Source: The Week
  3. Hurun Research Institute has released ASK Private Wealth Hurun India Future Unicorn Index 2023.
      • It is a ranking of India’s start-ups founded in the 2000s, worth at least $200 million, not yet listed on a public exchange, and most likely to “go unicorn” within three years (categorised as ‘gazelles’) or five years (cheetahs). The cut-off date was May 31, 2023.
      • The rank has demoted eight gazelles — start-ups that were founded in 2000 and have the potential to go to unicorn in three years — to cheetahs. It dropped 19 out of the unicorn list.
      • EV start-up Ather Energy, quick commerce start-up Zepto and edtech start-up Leap Scholar are the most valuable gazelles.
      • Online furniture platform Pepperfry is the most valuable cheetah.
        Source: BS

Sports

  1. Tamil Nadu won Senior Women’s National Football Championship after defeating
      • Tamil Nadu has won this championship for a second time.
        Source: TOI

  2. Steve Smith broke an Australian record for the fastest batter to score 9000 runs in Test cricket.
    Source: India Today
CEO of Anujjindal.in

About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

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