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10th January, 2024

PRITHvi VIgyan (PRITHVI), Maharishi Valmiki International Airport, International Kite Festival 2024, CBRE-CREDAI report, Peregrine Mission One, Rotating Detonation Rocket Engine (RDRE), Golden Globe Awards, 2023 Kuvempu Award, Pravasi Bharatiya Divas
  1. Union Cabinet chaired by the Prime Minister, Narendra Modi has approved the comprehensive scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences.
  2. Union Cabinet has approved the proposal to declare Ayodhya Airport in Uttar Pradesh as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham.
  3. Chief Minister Bhupendra Patel has inaugurated the ‘International Kite Festival 2024’ in Ahmedabad.
  4. Reserve Bank of India (RBI) has increased the minimum capital requirement for Small Finance Banks (SFBs) from Rs 100 crore to Rs 200 crore.
  5. Maharashtra, Tamil Nadu, and Uttar Pradesh have collectively contributed nearly 40% of all registered micro, small and medium enterprises (MSMEs) in India, as per a CBRE-CREDAI report.
  6. Income inequality has declined in India during FY14-FY22 as per the report of Economic Research Department of the State Bank of India.
  7. National Aeronautics and Space Administration (NASA) has launched 5 payloads to soft land on the surface of Moon aboard Peregrine Mission One (PM1).
  8. National Aeronautics and Space Administration (NASA) has successfully tested the 3- dimensionally (3-D) printed innovative propulsion system called “Rotating Detonation Rocket Engine (RDRE)” at Marshall Space Flight Center in Huntsville, Alabama, the United States.
  9. 81st edition of Golden Globe Awards (2024) has been held on 8th January, 2024 at the Beverly Hilton in Beverly Hills, California, United States of America (U.S.A.).
  10. Bengali writer Shirshendu Mukhopadhyay has been awarded 2023 Kuvempu Award.
  11. January 9– Pravasi Bharatiya Divas (Non-Resident Indian Day).
  12. Union Cabinet has approved the Memorandum of Understanding (MoU) signed between the Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) for cooperation on the development of a Joint Small Satellite.
  13. Union Cabinet has approved the MoU signed between Indian Railways and the United States Agency for International Development to support Indian Railways to achieve Net Zero Carbon Emission by 2030.
  14. Appointments Committee of Cabinet (ACC) has appointed Aruna Nayar as Secretary of the Railway Board.

Table of Content

National News

  1. Union Cabinet chaired by the Prime Minister, Narendra Modi has approved the comprehensive scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences.
      • More about PRITHvi VIgyan (PRITHVI)-
        • Duration- From 2021-2026
        • Cost of scheme- Rs. 4,797 crore.
        • Scheme comprises 5 ongoing sub-schemes-
          • Atmosphere & Climate Research-Modelling Observing Systems & Services (ACROSS)
          • Ocean Services, Modelling Application, Resources and Technology (O-SMART)
          • Polar Science and Cryosphere Research (PACER)
          • Seismology and Geosciences (SAGE)
          • Research, Education, Training and Outreach (REACHOUT)

      • Objectives of the Prithvi Scheme are:
        • To strengthen and maintain continuous observations of the atmosphere, ocean, geosphere, cryosphere, and solid earth to monitor vital Earth System indicators and changes.
        • To explore polar and high seas regions of the Earth to discover new phenomena and resources.
        • To develop technology for exploring and sustainably harnessing oceanic resources for societal applications.
        • To translate knowledge and insights from Earth systems science into services for societal, environmental, and economic benefits.
          Source: PIB



  2. Union Cabinet has approved the proposal to declare Ayodhya Airport in Uttar Pradesh as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham.
      • key point-
        • Airport is named “Maharishi Valmiki International Airport, Ayodhyadham,” in honor of Maharishi Valmiki, the sage known for writing the Ramayana, adding a cultural touch to its identity.
          Source: PIB


State News

  1. Chief Minister Bhupendra Patel has inaugurated the ‘International Kite Festival 2024’ in Ahmedabad.
      • Key points-
        • Venue- Sabarmati Riverfront, Vallabh Sadan in Ahmedabad
        • Date- January 7th to 14th
        • 153 international kite flyers from 55 countries, 68 national kite flyers from 12 states, and 865 kite flyers from 23 cities in Gujarat are participating in the International Kite Festival.
          Source: cmogujarat


Banking and Economy

  1. Reserve Bank of India (RBI) has increased the minimum capital requirement for Small Finance Banks (SFBs) from Rs 100 crore to Rs 200 crore.
      • Objective-
        • To improve the financial resilience of SFBs and ensure their long- term sustainability.

      • Key points-
        • RBI has also permitted Payments Banks to upgrade as Small Finance Banks.
        • Urban Co-operative Banks (UCBs) which are transitioning to Small Finance Banks (SFBs) need an initial net worth of Rs 100 crore, to be increased to Rs 200 crore within 5 years.
        • Payments Banks which are eligible as per guidelines, can apply for SFB conversion after 5 years of operation.
        • SFBs will be granted scheduled bank status immediately upon commencement of operations, and will get immediate general permission to open banking outlets.

Knowledge Nuggets -
About Small Finance Bank-
• It is a category of bank established to provide basic banking services and credit facilities to underserved sections of the population, including small business owners, micro and small industries, farmers, and the unorganized sector.
• They are regulated by RBI.

Source: ET

Reports and Indices

  1. Maharashtra, Tamil Nadu, and Uttar Pradesh have collectively contributed nearly 40% of all registered micro, small and medium enterprises (MSMEs) in India, as per a CBRE-CREDAI report.
      • Key points-
        • Maharashtra leads with highest number of MSMEs, followed by Tamil Nadu and Uttar Pradesh respectively.
        • Table for top MSMEs contributors-
RankState Number of MSMEs % Share
1Maharashtra 38.09 lakh 17.2
2Tamil Nadu 22.32 lakh 10
3Uttar Pradesh 20.95 lakh 9.4
    • According to the official data from the Ministry of MSME, 2.21 crore MSMEs are registered (excluding registrations through the Udyam Assist Portal).
    • Rajasthan with 16 lakh and Gujarat with 15.96 lakh MSMEs were 4th and 5th top destinations for registered units in the country.
    • Sector wise overview-
      • Report highlighted that the construction sector, contributing approximately 8% to the GDP, is a strategic opportunity for Indian MSMEs.
Knowledge Nuggets -
About Udyam Portal-
• It’s an online system for registering MSMEs, launched by the Union MSME ministry.
• launched- 1st July, 2020.
Source: Financial Express

  1. Income inequality has declined in India during FY14-FY22 as per the report of Economic Research Department of the State Bank of India.
    • Reason for decline-
      • Inequality has declined due to higher tax base and a shift in taxpayers from lower income to higher income tax bracket.
    • Key observations of the report-
      • Gini coefficient (one of the most widely used measures of income inequality) of taxable income has declined significantly from 0.472 to 0.402 during FY14-FY22.
      • About 36.3% of taxpayers have moved from lower income to higher income tax bracket resulting in 21.3% additional income.
      • Top 2.5% of taxpayers’ contribution in income declined from 2.81% in FY14 to 2.28% in FY21.
      • Total number of persons filing income tax increased to 7.4 crore in assessment year 23 from 7 crore in assessment year 22.
      • Female tax filers are around 15% of the individual tax filers with certain states such as Kerala, Tamil Nadu, Punjab and West Bengal having highest share.
      • Report stated that 47% of the population lives below $3.65 per day and only 80% of the remaining 73.1 crore, that is, 58.5 crore people work in the formal economy.
      • Growth in ITR filing according to earning-

ITR Range Growth between assessment years (AY) 2013–14 and AY 2021–22
Rs 5 lakh and Rs 10 lakh295%
Rs 10 lakh and Rs 25 lakh 291%.
Knowledge Nuggets -
What is Lorenz curve?
• Lorenz Curve (the actual distribution of income curve), a graphical distribution of wealth developed by Max Lorenzin 1906, shows the proportion of income earned by any given percentage of the population.
• Line at the 45º angle shows perfectly equal income distribution, while the other line shows the actual distribution of income.
What is Gini Coefficient?
• Gini Coefficient measures the degree of income equality in a population.
• Gini Coefficient can vary from 0 (perfect equality) to 1 (perfect inequality).
• Gini Coefficient of zero means that everyone has the same income, while a Coefficient of 1 represents a single individual receiving all the income.

Science and Technology

  1. National Aeronautics and Space Administration (NASA) has launched 5 payloads to soft land on the surface of Moon aboard Peregrine Mission One (PM1).
      • Objective-
        • To identify water molecules on the Moon, measure radiation and gases around the lander, and assess the lunar exosphere.

      • Key points-
        • This is the first lunar mission of NASA after the launch of Apollo 17 in 1972.
        • Mission was launched through United Launch Alliance (ULA)’s Vulcan Centaur Launch Vehicle (VC2S) from Cape Canaveral, Florida, United States of America (USA).
        • PM1 is the first commercial mission of Astrobotic Technology to land on another planetary body.
        • Mission is said to be operated for about 10 Earth days.
        • Components of mission-
          • consists of a Peregrine Lunar Lander, which carries scientific instruments and other payloads to the Moon’s surface.
          • Lunar Lander will land at Sinus Viscositatis (also known as the Bay of Stickiness).
            Source: livemint

  2. National Aeronautics and Space Administration (NASA) has successfully tested the 3- dimensionally (3-D) printed innovative propulsion system called “Rotating Detonation Rocket Engine (RDRE)” at Marshall Space Flight Center in Huntsville, Alabama, the United States.
      • Objective-
        • To change the structure of future propulsion systems which helps in NASA’s Moon to Mars vision.

      • key points-
        • RDRE is NASA’s first engine which generates thrust using a supersonic combustion phenomenon known as a detonation.
        • Engine can power both human landers and interplanetary vehicles.


Knowledge Nuggets -
About NASA-
• It is an independent agency of the U.S. federal government responsible for the civil space program, aeronautics research, and space research.
• Headquarters- Washington D.C., USA

Awards

  1. 81st edition of Golden Globe Awards (2024) has been held on 8th January, 2024 at the Beverly Hilton in Beverly Hills, California, United States of America (U.S.A.).
      • Awards in different categories-


CategoryWinner
Best Motion Picture- DramaOppenheimer
Best Motion Picture Musical or ComedyPoor Things
Best Motion Picture-Non English LanguageAnatomy of a Fall(France)
Best Performance by a Male Actor in a Motion Picture - Drama Cillian Murphy (Oppenheimer)
Best Performance by a Female Actor in a Motion Picture - Drama Lily Gladstone (Killers of the Flower Moon)
Knowledge Nuggets -
About Golden Globe Awards-
• Golden Globe Awards are accolades awarded for excellence in both American and international film and television.
• It is an annual award ceremony held since 1944 to honor artists and professionals and their work.
Source: Guardian

  1. Bengali writer Shirshendu Mukhopadhyay has been awarded 2023 Kuvempu Award.
      • He will receive a cash prize of Rs 5 lakh, a silver medal, and a citation.
      • Winner for 2022– Imayam
      • About Kuvempu Rashtriya Puraskar
        • It is a national annual literary award that recognises writers who have made significant contributions to any Indian language.
          Source: Srl



Important Days

  1. January 9– Pravasi Bharatiya Divas (Non-Resident Indian Day)
      • 1st Pravasi Bharatiya Divas was observed on 9th January 2003 in Delhi.
      • It has been celebrated as an annual event till 2003, but in 2015 government revised its format to once every 2 years (biennial).
      • 17th Pravasi Bharatiya Divas was observed from 8th- 10th January with the theme- ‘Diaspora: Reliable Partners for India’s Progress in Amrit Kaal’.
      • 18th Pravasi Bharatiya Divas will be observed on 9 January 2025.
      • Why 9 January is celebrated as Pravasi Bharatiya Divas?
        • It is celebrated to mark the return of Mahatma Gandhi on the same date from South Africa in 1915.
          Source: livemint

Memorandum of Understanding

  1. Union Cabinet has approved the Memorandum of Understanding (MoU) signed between the Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) for cooperation on the development of a Joint Small Satellite.
      • Key points-
        • MoU will enable the establishment of a framework for cooperation between ISRO and MRIC on the development of a joint satellite and cooperation on the use of the MRIC’s Ground Station.
        • It also enable the joint realisation of small satellites between ISRO and MRIC.
        • Satellite realisation is proposed to be completed in a 15-month time frame.
Knowledge Nuggets -
About ISRO-
• Indian Space Research Organisation is the national space agency of India.
• Headquarters- Bengaluru
• Established- 1969
• Chairman- S Somanath
Source: Business Standard

  1. Union Cabinet has approved the MoU signed between Indian Railways and the United States Agency for International Development to support Indian Railways to achieve Net Zero Carbon Emission by 2030.
      • Key points-
        • MoU will be effective for 5 years or until the effective end of the South Asia Regional Energy Partnership (SAREP) whichever period is shorter.
        • Under the SAREP initiative USAID will provide technical assistance for the services.

Knowledge Nuggets -
About USAID-
• United States Agency for International Development is an independent agency of the United States government that is primarily responsible for administering civilian foreign aid and development assistance.
• Headquarters- Washington, D.C., USA
• Established- 1961

Source: ET

Appointments

  1. Appointments Committee of Cabinet (ACC) has appointed Aruna Nayar as Secretary of the Railway Board.
    Source: PIB
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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