25th June, 2021 – Daily News

Topics covered – NISHTHA capacity building program, Electric Vehicle Policy 2021, Odisha – United Nations World Food Programme partnership, Mukhya Mantri Covid-19 Pariwar Aarthik Sahayata Yojana, MoU between India and Saint Vincent and the Grenadines, Tax Inspectors Without Border Program, 11th BRICS S&T Steering Committee Meeting, Mumbai International Airport Limited, Indian financial sector, S&P Global Ratings, World Bank GDP forecast, Magma Fincorp Ltd, Lakshya Tera Samne Hai, ICC World Test Championship 2021

Bulletins

  1. Ministry of Tribal Affairs has collaborated with NCERT for NISHTHA capacity building program for Eklayva school’s teachers and principal.
  2. Gujarat govt has launched the Electric Vehicle Policy 2021 to have 2 lakh e-vehicles on roads in the next four years.
  3. Odisha govt has partnered with United Nations World Food Programme (WFP) to improve household food and nutritional security by strengthening livelihood initiatives, reaching thousands of state-supported Women’s Self-Help Groups (WSHGs).
  4. Delhi govt has announced to launch Mukhya Mantri Covid-19 Pariwar Aarthik Sahayata Yojana to provide financial aid to the families of victims of Covid-19.
  5. Union Cabinet has approved the MoU between India and Saint Vincent and the Grenadines (a Caribbean country) for the exchange of tax information and assistance in the tax collection.
  6. Bhutan has launched Tax Inspectors Without Border Program, in partnership with India and UNDP.
  7. 11th BRICS S&T Steering Committee Meeting was held for improving innovative cooperation among BRICS countries.
  8. Maharashtra cabinet has approved the transfer of the ownership of the Mumbai International Airport Limited (MIAL) constructing the Navi Mumbai international airport to the Adani Airport Holdings.
  9. Afthonia Lab (a fintech incubator) has partnered with YES Bank to support fintech companies in India for transforming the Indian financial sector.
  10. SBI Card has partnered with Fabindia (lifestyle retail chain) for launching contactless co-branded credit cards – named as Fabindia SBI Card Select – to cater to the premium segment customers.
  11. S&P Global Ratings has reduced India’s GDP growth forecast for FY22 to 9.5%, from 11% earlier.
  12. World Bank has released its Global Economic Prospects- June 2021.
  13. ICRA Ratings has projected India’s gross domestic product (GDP) to grow at 8.5% in FY 2021-22.
  14. Barclays (British multinational universal bank) has forecasted a GDP growth rate of 9.2% for India for 2021-22.
  15. Vijay Deshwal has been appointed as the CEO of Poonawalla group acquired Magma Fincorp Ltd.
  16. Mohit Chauhan has composed and sung the song titled “Lakshya Tera Samne Hai”, which is India’s “Official Olympic Theme Song” for the upcoming Tokyo Olympics 2020.
  17. New Zealand has won the 1st edition of ICC World Test Championship 2021 which was held at Rose Bowl stadium, Southampton, England.

Table of Content

National News

  1. Ministry of Tribal Affairs has collaborated with NCERT for NISHTHA capacity building program for Eklayva school’s teachers and principal.
      • NISHTHA stands for National Initiative for School Heads’ and Teachers’ Holistic Advancement.
      • NISHTHA is a capacity-building programme for improving the quality of school education through integrated teacher training.
      • Under the programme, teachers and principals from 120 Eklavya Model Residential Schools (EMRSs) from 3 States (Himachal Pradesh, Madhya Pradesh, and Chhattisgarh) participated in the first batch of the programme.

State News

  1. Gujarat govt has launched the Electric Vehicle Policy 2021 to have 2 lakh e-vehicles on roads in the next four years.
      • As part of the Gujarat State Electric Vehicle Policy 2021, the state government has unveiled a four-year plan with a total outlay of Rs 870 crore to be offered as subsidy/incentive for new buyers of electric vehicles across segments, as well as for those investing in the development of infrastructure for EVs.
      • It will save fuel expenditure of up to Rs 5 crore, and also reduce CO2 emissions by six lakh tonnes in the next four years.
E- vehicle Policy
  1. Odisha govt has partnered with United Nations World Food Programme (WFP) to improve household food and nutritional security by strengthening livelihood initiatives, reaching thousands of state-supported Women’s Self-Help Groups (WSHGs).
      • The partnership will address and reduce vulnerabilities around food security as highlighted by the COVD-19 pandemic.
      • This collaboration will support Women’s Self-Help Groups (WSHGs) by providing technical assistance and capacity development, directly contributing to long-term food security.
      • The partnership will remain in effect till 2023.
      • It will also be focusing on improving the linkage of women groups with government procurement systems, increasing awareness on entitlements, building capacity of women’s groups, and developing monitoring tools and undertaking evaluations to improve function of the groups.
  2. Delhi govt has announced to launch Mukhya Mantri Covid-19 Pariwar Aarthik Sahayata Yojana to provide financial aid to the families of victims of Covid-19.
      • It will offer a monthly financial assistance of ₹2,500 to the families of those who have lost their earning member and also a one-time compensation of ₹50,000 if a member has died due to Covid-19.
      • Also, the government will consider a single member of the affected family to be enrolled as a civil defence volunteer.

Memorandum of Understanding

  1. Union Cabinet has approved the MoU between India and Saint Vincent and the Grenadines (a Caribbean country) for the exchange of tax information and assistance in the tax collection.
      • It will strengthen India’s commitment to fight offshore tax evasion and tax avoidance practices leading to generation of unaccounted black money.
      • Capital – Kingstown and Currency – Dollar

International News

  1. Bhutan has launched Tax Inspectors Without Border Program, in partnership with India and UNDP.
      • Under the program, India and UNDP will help Bhutan in strengthening its tax administration by providing training and technical know-how to the tax administrators in Bhutan.
      • The Tax Inspectors Without Border Program is a joint initiative of UNDP and OECD to share the tax audit knowledge among countries.
      • The duration of this program is 24 months.
  2. 11th BRICS S&T Steering Committee Meeting was held for improving innovative cooperation among BRICS countries.
      • The BRICS Innovation Cooperation 2021-2024 put forward by India would be considered at the BRICS Science, Technology and Innovation Entrepreneurship (STIEP) working group for elaborating the action plan.
      • The meeting was hosted by Indian Department of Science and Technology (DST).
      • India will host 6th edition of BRICS Young Scientist Conclave during 13-16 September 2021.
      • As proposed by India, the thematic areas for conclave would include healthcare; energy solution and; interdisciplinary cyber physical system.

Banking & Economy

  1. Maharashtra cabinet has approved the transfer of the ownership of the Mumbai International Airport Limited (MIAL) constructing the Navi Mumbai international airport to the Adani Airport Holdings.
      • GVK Airports Developers Ltd, which had a 50.5% share, has been taken over by Adani Airport Holdings Ltd.
  2. Afthonia Lab (a fintech incubator) has partnered with YES Bank to support fintech companies in India for transforming the Indian financial sector.
      • Under the partnership, new ideas will be tested via sandbox, provided by Afthonia.
  3. SBI Card has partnered with Fabindia (lifestyle retail chain) for launching contactless co-branded credit cards – named as Fabindia SBI Card Select – to cater to the premium segment customers.

GDP Forecasts

  1. S&P Global Ratings has reduced India’s GDP growth forecast for FY22 to 9.5%, from 11% earlier.
      • GDP forecast For FY23 – 7.8%
  2. World Bank has released its Global Economic Prospects- June 2021.
Global GDP India’s GDP
2019-20: 2.5% 2019-20: 4%
2020-21: (-) 3.5% 2020-21: (-)7.3%
2021-22: 5.6% 2021-22: 8.3%
2022-23: 4.3% 2022-23: 7.5%
2023-24: 3.1% 2023-24: 6.5%
    • In March 2021, the World Bank had released the South Asia Economic Focus report.
    • According to this report, India’s real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5%.
  1. ICRA Ratings has projected India’s gross domestic product (GDP) to grow at 8.5% in FY 2021-22.
      • RBI forecasted 9.5% GDP growth rate for 2021-22.
  2. Barclays (British multinational universal bank) has forecasted a GDP growth rate of 9.2% for India for 2021-22.

Appointments

  1. Vijay Deshwal has been appointed as the CEO of Poonawalla group acquired Magma Fincorp Ltd.
Vijay Deshwal CEO of Poonawalla group

Sports

  1. Mohit Chauhan has composed and sung the song titled “Lakshya Tera Samne Hai”, which is India’s “Official Olympic Theme Song” for the upcoming Tokyo Olympics 2020.
  2. New Zealand has won the 1st edition of ICC World Test Championship 2021 which was held at Rose Bowl stadium, Southampton, England.
      • Kyle Jamieson was named player of the match in the World Test Championship final.
NZ won WTC 2021

Start Quiz of 25th June 2021

Q.1) Which state has partnered with United Nations World Food Programme (WFP) to improve household food and nutritional security by strengthening livelihood initiatives, reaching thousands of state-supported Women's Self-Help Groups?
Q.2) Which of the following state / UT govt has announced to launch Mukhya Mantri Covid-19 Pariwar Aarthik Sahayata Yojana to provide financial aid to the families of victims of Covid-19?
Q.3) With which Caribbean country has India recently signed an MoU for the exchange of tax information and assistance in the tax collection?
Q.4) In which country has Tax Inspectors Without Border Program been launched by India and UNDP?
Q.5) Which edition of the BRICS Young Scientist Conclave will be organized by India during 13-16 September 2021?
Q.6) With which bank has Afthonia Lab (a fintech incubator) partnered to support fintech companies in India for transforming the Indian financial sector?
Q.7) What is India’s GDP forecast for FY22 by S&P?
Q.8) What is the Global GDP forecast for FY23 by World Bank?
Q.9) Who is the singer of "Lakshya Tera Samne Hai", which is India's "Official Olympic Theme Song" for the upcoming Tokyo Olympics 2020?
Q.10) Who was the player of the match in the 1st edition of ICC World Test Championship 2021?
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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 4 years of experience in the field of Education.

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