08th November, 2023

1. 7th edition of Indian Mobile Congress has been held from 27th to 29th October at Bharat Mandapam in New Delhi.
2. Government has launched India’s first AI solution ‘Krishi 24/7’ for agricultural news monitoring and analysis.
3. Finance Minister Nirmala Sitharaman has concluded three-day official visit to Sri Lanka from 1st to 3rd November.
4. India has emerged among top countries with high income, wealth inequality as per UNDP’s 2024 Asia-Pacific Human Development report.
5. IIT Kanpur has established a Centre of Excellence named ATMAN (Advanced Technologies for Monitoring Air-quality iNdicators)
6. IIT Madras has established first international campus in Zanzibar Island, Tanzania.
7. United Nation Environment Programme has released Adaptation Gap Report 2023.
8. Bharat Botanics has opened India’s largest Cold Press Oil production facility in Gujarat.
9. Mundra has become the first port of India to handle cargo volumes of 16 million metric tonnes in a month.
10. Fitch Ratings has raised its mid-term potential growth estimate for India by 0.7% points to 6.2% for the period of 2019-2027.
11. Eastern Air Command has conducted its annual exercise ‘Poorvi Akash’ from September 30 to November 5.
12. National Cancer Awareness Day
13. CV Raman Birth Anniversary
14. Indian Grandmaster Vidit Gujrathi has won the 3rd edition of Federation Internationale des Echecs (FIDE) Grand Swiss 2023 title held in Villa Marina, Douglas, Isle of Man.
15. Indian Women’s hockey team has won women’s Asian Champions Trophy 2023 by defeating Japan in the final match held in Ranchi, Jharkhand.
16. Red Bull’s Max Verstappen has won F1 Sao Paulo Grand Prix (GP) 2023 held in Sao Paulo, Brazil.
17. Agricultural and Processed Food Products Export Development Authority (APEDA) has signed an MoU with Lulu hypermarket to promote Indian Agri-products in global markets.
18. Heeralal Samariya has been appointed as the Chief Information Commissioner.

National News

1. 7th edition of Indian Mobile Congress has been held from 27th to 29th October at Bharat Mandapam in New Delhi.
   • Theme–
     • Global Digital Innovation
   • Participants-
     • Around 5000 CEO-level delegates, 230 exhibitors, and 400 startups have participated
   • Key outcomes & initiatives–
     • 5G Use Case Labs:
       • Prime Minister awarded 100 ‘5G Use Case Labs’ to educational institutions across the country to encourage the development of 5G applications.

     • 5G Rollout and Expansion:
       • Jio has installed over 10 lakh 5G cells across all 22 circuits of India, contributing 85 percent to the overall 5G distribution.
       • Airtel’s 5G rollout has covered 5000 towns and 20,000 villages, with plans to cover the entire country by March 2024.
     • Digital Transformation Achievements:
       • India has made significant strides in digital transformation, becoming a champion of the Global South.
       • The Digital Public Infrastructure (DPI) of India is recognized globally, and the country has grown deep roots in manufacturing, particularly for digital infrastructure.

     • Startup Program – ‘Aspire’:
       • IMC 2023 has introduced a startup program called ‘Aspire’ to catalyze entrepreneurial initiatives and collaborations.
         Source: PIB

2. Government has launched India’s first AI solution ‘Krishi 24/7’ for agricultural news monitoring and analysis.
   • Developed by–
     • Department of Agriculture & Farmers Welfare in collaboration with Wadhwani Institute for Artificial Intelligence (Wadhwani AI)
     • org has also supported in development
   • About Krishi 24/7–
     • It will help Department of Agriculture & Farmers Welfare to identify relevant news, generate timely alert, and take prompt action to protect farmers’ interest.
     • It will also promote sustainable agricultural growth through improved decision-making.
     • The tool will scan news article in multiple languages and translates them into English.
     • It extracts essential information from news article such as headline, crop name, event type, etc.
       Source: ET
3. Finance Minister Nirmala Sitharaman has concluded three-day official visit to Sri Lanka from 1st to 3rd
   • Key events during visit–
     • She has given keynote address as the Guest of Honour at the ‘NAAM 200’ organised by Government of Sri Lanka to commemorate the 200th anniversary of the arrival of Indian-origin Tamils (IoTs) to Sri Lanka.
     • She has also addressed India Sri Lanka Business Summit on theme ‘Enhancing Connectivity: Partnering for Prosperity’
     • She has inaugurated State Bank of India’s branches in Trincomalee and Jaffna
       Source: ET
4. India has emerged among top countries with high income, wealth inequality as per UNDP’s 2024 Asia-Pacific Human Development report.
   • Key findings–
     • India has emerged among the top countries with high income and wealth inequality.
     • The share of the population living in multidimensional poverty in India fell from 25% to 15% between 2015-16 and 2019-21.
     • Between 2000 and 2022, per capita income in India increased from USD 442 to USD 2,389.
     • Between 2004 and 2019, poverty rates in India (based on the international poverty measure of USD 2.15 per day) dropped from 40% to 10%.
     • Poverty remains concentrated in states that house 45% of the country’s population but contain 62% of its poor.
     • Vulnerable groups, including women, informal workers, and inter-state migrants, are at greater risk of falling back into poverty.
     • Women constitute only 23% of the labour force, and income distribution has become more skewed amid rapid growth.
     • There is growing evidence of a significant rise in wealth inequality in India, particularly in the post-2000 period.
     • India is contributing significantly to the growth of the global middle class, expected to contribute 24% (192 million people) to the global middle-class growth.
     • The Asia-Pacific region is expected to account for two-thirds of global economic growth in the current year.
     • Income and wealth disparities are worsening, especially in South Asia, where the wealthiest 10% control over half of total income.
     • More than 185 million people, particularly vulnerable to economic shocks, continue to live in extreme poverty (earning below USD 2.15 a day).
     • The report emphasizes the need to prioritize investments in human development to overcome existing challenges.
     • Three New Directions for Human Development:
       • The report calls for three new directions:
         • Prioritize human development
         • Generate more jobs and respect the environment
         • Turn ideas into practice for effective development.
           Source: Business Standard
5. IIT Kanpur has established a Centre of Excellence named ATMAN (Advanced Technologies for Monitoring Air-quality iNdicators)
   • Key features of ATMAN–
     • ATMAN focuses on building indigenous low-cost sensor manufacturing and AI/ML capabilities to enhance air quality
     • It aims to translate sustainable technologies and business models into practical products and services with cutting edge technology
     • One of the projects under ATMAN, AMRIT, will deploy a dense Sensor Ambient Air Quality Monitor network with 1,400 nodes across rural areas in the states of Bihar and Uttar Pradesh
       Source: iitk

International News

1. IIT Madras has established first international campus in Zanzibar Island, Tanzania.
   • Programmes offered–
     • It will offer the Institute will offer BS and MTech programmes in Data Science and Artificial Intelligence
   • In the first batch at IITM Zanzibar, students from Zanzibar, mainland Tanzania, Nepal, and India have been admitted, with 40% of the students being women.
   • The campus will have the capacity to accommodate students in dormitories and provide various facilities.
   • The programmes at IITM Zanzibar are open to students of all nationalities, including Indians.
     Source: Business Standard

Banking and Economy

1. United Nation Environment Programme has released Adaptation Gap Report 2023.
   • Title–
     • UNEP’s Adaptation Gap Report 2023: Underfinanced
   • Key findings–
     • Adaptation Finance Needs:
       • The adaptation finance needs of developing countries are estimated to be 10-18 times larger than international public finance flows.
       • The modelled costs of adaptation in developing countries are projected at US$215 billion per year for this decade.
     • Adaptation Finance Gap:
       • Due to growing adaptation finance needs and declining flows, the current adaptation finance gap is estimated to be in the range of US$194-366 billion per year.
     • Domestic Priorities:
       • The adaptation finance required to implement domestic adaptation priorities is estimated to be US$387 billion per year.
     • Decline in Public Finance Flows:
       • Despite the increasing needs, public multilateral and bilateral adaptation finance flows to developing countries has decreased by 15% to US$21 billion in 2021.

     • Plateauing Adaptation Planning and Implementation:
       • Adaptation planning and implementation appear to be plateauing, posing significant challenges to addressing the needs and mitigating losses and damages, especially for the most vulnerable populations.
     • Implications for Vulnerable Communities:
       • The failure to adapt has massive implications for losses and damages, particularly affecting the most vulnerable communities.
     • Seven Ways to Increase Financing:
       • The report identifies seven strategies to enhance financing for adaptation:
         • Domestic Expenditure: Encourage and increase domestic expenditure on adaptation actions.
         • International Finance: Mobilize increased international public finance to support adaptation efforts in developing countries.
         • Private Sector Finance: Promote and leverage private sector finance for adaptation projects.
         • Remittances: Explore the role of remittances as a potential source of funding for adaptation initiatives.
         • SME Finance: Increase and tailor finance to Small and Medium Enterprises (SMEs) involved in adaptation activities.
         • Global Financial Architecture Reform: Advocate for reforms in the global financial architecture to better support adaptation efforts.
         • Innovative Financing Mechanisms: Develop and implement innovative financing mechanisms, including the new Loss and Damage fund, to scale up investment.
           Source: UNEP
2. Bharat Botanics has opened India’s largest Cold Press Oil production facility in Gujarat.
   • Location– Gondal, Rajkot district in Gujarat.
   • What is Cold Press Oil Production method?
     • In these seeds are crushed using traditional “Wooden Ghani’s” with the cold-pressed technique, resulting in natural, chemical-free edible oils rich in healthy nutrients, natural flavour, and a scintillating aroma.
   • About Bharat Botanics–
     • Bharat Botanics is a wood-pressed edible oil (B2C) brand, known for its pure, chemical-free, and natural oils.
       Source: cnbc
3. Mundra has become the first port of India to handle cargo volumes of 16 million metric tonnes in a month.
   • The port has witnessed double-digit growth in handling containers, liquids, and gas, and has expanded its cargo portfolio.

Source: TOI

GDP Forecasts

1. Fitch Ratings has raised its mid-term potential growth estimate for India by 7% points to 6.2% for the period of 2019-2027.
   • Reason for revision–
     • This upward revision is attributed to factors such as higher employment, a larger working-age population, and increased labour productivity expected during this timeframe.
   • Global Comparisons and Emerging Markets Outlook:
     • Fitch made upward revisions to potential growth estimates for Brazil, Mexico, Indonesia, Poland, and Turkey due to swift recoveries in labour force participation rates.
   • Reduction in China’s Growth Prospects:
     • Fitch lowered its growth estimate for China to 4.6% from 5.3%, citing a sharp slowdown in growth in recent years.

Source: livemint

Defence News

1. Eastern Air Command has conducted its annual exercise ‘Poorvi Akash’ from September 30 to November 5.
   • Details of Exercise–
     • Exercise will involve application of Air Power in all its role.
     • It will be conducted by day and night.
     • It also consists of joint operations with Eastern command of Indian Army in the challenging mountainous terrain.
     • Special Forces will also participate in the exercise, activating whole Eastern Sector.
       Source: ET

Important Days

1. November 7– National Cancer Awareness Day
   Source: livemint
2. November 7– CV Raman Birth Anniversary
   Source: FPJ

Sports

1. Indian Grandmaster Vidit Gujrathi has won the 3rd edition of Federation Internationale des Echecs (FIDE) Grand Swiss 2023 title held in Villa Marina, Douglas, Isle of Man.
   • He has also qualified for Candidates 2024 tournament.
   • He became the second Indian after R Praggnanandhaa to qualify for this tournament.

2. Indian Women’s hockey team has won women’s Asian Champions Trophy 2023 by defeating Japan in the final match held in Ranchi, Jharkhand.
   • China has won bronze medal by defeating South Korea in Bronze medal match.
   • Participants–
     • Six teams- India, Japan, China, Malaysia, Thailand, and South Korea
   • Winners’ list–

3. Red Bull’s Max Verstappen has won F1 Sao Paulo Grand Prix (GP) 2023 held in Sao Paulo, Brazil.
   Source: Business Today

Memorandum of Understanding

1. Agricultural and Processed Food Products Export Development Authority (APEDA) has signed an MoU with Lulu hypermarket to promote Indian Agri-products in global markets.
   • Key highlights of MoU–
     • Lulu group will allocate dedicated shelf space within LuLu Group’s stores for the prominent display and visibility of APEDA’s agricultural products, including millets.
     • The collaboration aims to facilitate promotional activities for agricultural and processed food products within APEDA’s portfolio.
     • APEDA has facilitated the signing of MoUs between regional agricultural bodies and Lulu Group to enhance export potential from the Himalayan and North Eastern states.
     • Lulu Group will provide assistance in labelling products according to the requirements of various importing countries, ensuring compliance with international standards.

Source: The Print

Appointments

1. Heeralal Samariya has been appointed as the Chief Information Commissioner.
   • President Droupadi Murmu has administered the oath of office to Samariya at the Rashtrapati Bhavan.
     Source: livemint

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