05th May, 2021 – Daily News

Topics coveredRoadmap 2030, Auro Scholarship Programme’, Dhruv Mk III MR, “Mayflower 400”, Oktoberfest, Estimates Of Global E-Commerce 2019 And Preliminary Assessment Of Covid-19 Impact On Online Retail 2020 report, Goldman Sachs, ‘Satyajit Ray Lifetime Achievement Award for Excellence in Cinema’.

Bulletins

  1. JSW Renew Energy (subsidiary of JSW Energy) has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for 540 megawatt (MW) of wind-based electricity.
  2. India and the UK have adopted an ambitious ‘Roadmap 2030’ during the virtual bilateral summit between Prime Minister Narendra Modi and his British counterpart Boris Johnson.
  3. Tripura Education Minister Ratan Lal Nath has launched ‘Auro Scholarship Programme’ of Sri Aurobindo Society for all the students of the state.
  4. Geological Survey of India has found fossil bone fragments of sauropod dinosaurs dating back to about 100 million years from an area around West Khasi Hills District in Meghalaya.
  5. Hindustan Aeronautics Limited’s (HAL) Advanced Light Helicopter Dhruv Mk III MR has completed deck operation trials at ICGS Sujay off Chennai coast.
  6. “Mayflower 400” is the world’s first intelligent ship that has been built by ProMare (marine research organization), in partnership with IBM.
  7. Oktoberfest is an annual festival celebrated in the month of October for two weeks in Munich, Germany.
  8. UNCTAD has released the “Estimates Of Global E-Commerce 2019 And Preliminary Assessment Of Covid-19 Impact On Online Retail 2020” report.
  9. RBI has imposed a penalty of ₹3 crore on ICICI Bank Ltd for contravention of certain directions contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 1, 2015.
  10. Goldman Sachs has forecasted a 11.1% GDP growth rate for India for 2021-22.
  11. PV Sindhu (badminton player) and Michelle Li (Canada’s badminton player) have been nominated as athlete ambassadors for International Olympic Committee’s ‘Believe in Sports’ campaign.
  12. Border Roads Organisation (BRO) appointed its first women officer to command a Road Construction Company (RCC).
  13. International Firefighters’ Day 2021 is observed on May 4.
  14. ‘Satyajit Ray Lifetime Achievement Award for Excellence in Cinema’ has been instituted to be given at the International Film Festival of India (IFFI) every year starting from this year.

Table of Content

National News

  1. JSW Renew Energy (subsidiary of JSW Energy) has signed a power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) for 540 megawatt (MW) of wind-based electricity.
      • JSW Energy marked its entry into the wind power generation sector by winning 810 MW projects in the auction conducted by SECI in August 2020.
      • It is the single largest PPA in the wind projects category.

    Additional Facts:

      • JSW Energy currently has a power generation capacity of 4,559 MW.
      • However, the company aims to reach 10,000 MW capacity in 3 to 5 years.
      • In order to achieve 1,100 MW of renewable energy capacity, JSW Energy is also constructing a 240 MW greenfield hydro project at Kutehr in Himachal Pradesh.

    India’s Renewable Energy Capacity:

      • Target – 450 GW by 2030
      • Present capacity – 94 GW = 34 GW is under various stages of implementation and 30 GW under various stages of bidding. Additionally, 46.2 GW of hydro and 6.8 GW of nuclear capacities are also currently online.
  2. India and the UK have adopted an ambitious ‘Roadmap 2030’ during the virtual bilateral summit between Prime Minister Narendra Modi and his British counterpart Boris Johnson.
      • Both leaders launched Enhanced Trade Partnership, and announced their intent to negotiate a comprehensive Free Trade Agreement (FTA), including an interim trade agreement to deliver early gains.
      • Both countries agreed to remove trade barriers to achieve FTA. They have set an ambitious target of more than doubling India-UK trade by 2030.
      • The two leaders agreed to strengthen defence partnership, focusing on maritime and industrial collaboration.
      • They also reaffirmed the benefits of closer cooperation in a free and open Indo-Pacific, recognising their shared interest in regional prosperity and stability.

State News

  1. Tripura Education Minister Ratan Lal Nath has launched ‘Auro Scholarship Programme’ of Sri Aurobindo Society for all the students of the state.
      • Auro Scholarship Programme provides the monthly micro-scholarship to the students in order to motivate them.
      • Once students achieve benchmark performance in 10-min curriculum aligned Quizzes conducted on Auro Scholar App, they win scholarships.
      • Through simple mobile based quizzes, the students can win scholarships of up to Rs.1000 every month on achieving good performance in online curriculum based assessments.
  2. Geological Survey of India has found fossil bone fragments of sauropod dinosaurs dating back to about 100 million years from an area around West Khasi Hills District in Meghalaya.
      • The finding makes Meghalaya the fifth state in India after Gujarat, Madhya Pradesh, Maharashtra, and Tamil Nadu and the only state in the North-East to report Sauropod bones having titanosaurian affinity.

Defence News

  1. Hindustan Aeronautics Limited’s (HAL) Advanced Light Helicopter Dhruv Mk III MR has completed deck operation trials at ICGS Sujay off Chennai coast.
      • Deck operation trials include landing on the deck, folding of blades and storing the helicopter inside the onboard hangar.

International News

  1. “Mayflower 400” is the world’s first intelligent ship that has been built by ProMare (marine research organization), in partnership with IBM.
      • Mayflower 400 is a completely autonomous ship. It weighs nine tons.
      • It will sail through transatlantic ocean from Britain to US.
      • During its journey, the vessel, cover ed in solar panels, will study marine pollution and analyse plastic in the water, as well as track aquatic mammals.
      • ProMare invested $1 million along with global contributions in form of technology from India, the United States, and Switzerland to build the ship.
  2. Oktoberfest is an annual festival celebrated in the month of October for two weeks in Munich, Germany.
      • Due to the Covid-19 pandemic, the festival has been cancelled.

Reports & Indices

  1. UNCTAD has released the “Estimates Of Global E-Commerce 2019 And Preliminary Assessment Of Covid-19 Impact On Online Retail 2020” report.
      • Online sales accounted for 19% of the total retail sales in 2020. This proportion is higher than 16% of 2019.
      • This increase can be attributed to the pandemic.
      • Top countries with highest share of online retail sales in 2020 – South Korea (25.9%), China (24.9%), Britain (23.3%), and USA (14%).
      • Global e-commerce stood at $26.7 trillion in 2019, which is 30% of the Global Economic Output.
      • The Gross Merchandise Value (GMV) of the below mentioned companies increased by 20.5% to $2.9 trillion in 2019-20 as compared to the previous year.
Note: Alibaba year beginning 1 April, Walmart year begining 1 February. Figures in italics are estimates. GMV= Gross Merchandize Value(as well as Booking Value).
Rank by GVM Company HQ Industry GVM ($ billion) GVM Change (%)
2020 2019 2018 2019 2020 2018-19 2019-20
1 1 Alibaba China E-commerce $866 $954 $1,145 10.2 20.1
2 2 Amazon USA E-commerce $344 $417 $575 21.0 38.0
3 3 JD.com China E-commerce $253 $302 $379 19.1 25.4
4 4 Pinduoduo China E-commerce $71 $146 $242 104.4 65.9
5 5 Shopify Canada Internet Media & Services $41 $61 $120 48.7 95.6
6 6 eBay USA E-commerce $90 $86 $100 -4.8 17.0
7 7 Meituan China E-commerce $43 $57 $71 33.0 24.6
8 8 Walmart USA Consumer goods retail $25 $37 $64 47.0 72.4
9 9 Uber USA Internet Media & Services $50 $65 $58 30.5 -10.9
10 10 Rakuten Japan E-commerce $30 $34 $42 13.6 24.2
11 11 Expedia USA Internet Media & Services $100 $108 $37 8.2 -65.9
12 12 Booking & Holdings USA Internet Media & Services $93 $96 $35 4.0 -63.3
13 13 Airbnb USA Internet Media & Services $29 $38 $24 29.3 -37.1
Companies above $2,035 $2,399 $2,890 17.9 20.5

Source: UNCTAD based on company reports

    • In 2019, USA, Japan, China, Korea (Rep.), and UK were the top 5 leading countries in e-commerce sales.
    • In 2019, China, US, UK, Japan, and France were the top 5 countries in B2C e-commerce sales. India is at the 9th position.
    • Facts about India:-

Table 4: B2C e-commerce sales: Top 20 economies, 2019

Rank Economy B2C e-commerce sales($ billion) Share of B2C e-commerce sales in GDP (%) Online shoppers (million) Online shoppers (% of internet users)
1 China 1539 10.7 639 75
2 United States 1261 5.9 189 80
3 United Kingdom 251 8.9 42 88
4 Japan 178 3.5 55 54
5 France 116 4.3 38 77
6 Korea(Rep.) 115 7.0 27 66
7 Germany 111 2.9 56 84
8 Spain 64 4.6 23 64
9 India 61 2.1 70 20
10 Canada 53 3.0 24 84

Banking & Economy

  1. RBI has imposed a penalty of ₹3 crore on ICICI Bank Ltd for contravention of certain directions contained in Master Circular on ‘Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks’ dated July 1, 2015.

GDP Forecasts

  1. Goldman Sachs has forecasted a 11.1% GDP growth rate for India for 2021-22.
      • 2021 calendar year growth forecast has been reduced to 9.7% (from 10.5%).

Appointments

  1. PV Sindhu (badminton player) and Michelle Li (Canada’s badminton player) have been nominated as athlete ambassadors for International Olympic Committee’s ‘Believe in Sports’ campaign.
      • The pair have been global ambassadors for BWF’s ‘i am badminton’ campaign since April last year.
      • The campaign was launched in 2018 to raise awareness among athletes, coaches and officials about the threat of competition manipulation.
PV Sindhu & Michelle Li nominated as athlete ambassadors
  1. Border Roads Organisation (BRO) appointed its first women officer to command a Road Construction Company (RCC).
      • Vaishali S Hiwase (from Wardha, Maharashtra) has become the First woman Officer Executive Engineer (Civil) for taking over as Officer Commanding of a Road Construction Company.
      • RCC is responsible to provide connectivity of an Indo China Border Road.
      • BRO was raised in 1960. BRO D-G – Lt. Gen Rajeev Chaudhary

Important Days

  1. International Firefighters’ Day 2021 is observed on May 4.
International Firefighters' Day 2021
  1. World Asthma Day is observed every year on the first Tuesday of May (4 May 2021).
      • Theme –  ’Uncovering Asthma Misconceptions’

Awards

  1. ‘Satyajit Ray Lifetime Achievement Award for Excellence in Cinema’ has been instituted to be given at the International Film Festival of India (IFFI) every year starting from this year.
      • The award consists of a cash prize of ₹10 lakh, a certificate, shawl, along with a Silver Peacock medal and a Scroll.
      • The Information and Broadcasting Ministry has announced that late filmmaker Satyajit Ray’s 100th birthday will be celebrated throughout the year with various events.
      • Satyaji Ray (May 2, 1921-April 23, 1992) was a renowned filmmaker, writer, illustrator, graphic designer and music composer. His first movie was Pather Panchali.
      • Ray was also a prolific writer, who created the famous sleuth/ spy Feluda and scientist Professor Shonku, a popular part of Bengali Literature.
      • Directorate of Film Festivals, the Films Division and the Ministry of External Affairs will be organizing Satyajit Ray Film Festivals in India, and abroad where films and documentaries by and on Satyajit Ray will be showcased.
      • The Films Division will be creating a dedicated Satyajit Ray section at the National Museum of Indian Cinema, Mumbai.
      • An implementation committee has been set up under the chairmanship of Secretary (I&B), Amit Khare, to oversee the activities.

Miscellaneous

  1. Jagmohan Malhotra was a former Indian civil servant and politician who has passed away.
  2. Aeronautical scientist Manas Bihari Verma (key person behind Tejas) has passed away.
  3. Ghulam Farid Sabri (famous qawwali singer) has passed away.
  1. Parker Solar Probe of NASA has detected radio signals from Venus.
      • It is the first time in 30 years, Venus’s atmosphere has been detected directly.
      • Venus also has ionosphere just like Earth.
      • Venus’s atmosphere undergoes changes over a solar cycle.
      • Parker Solar Probe was launched in 2018 to study about the outer corona of the sun.
      • Solar cycle – Sun is a huge ball of electrically-charged hot gas. This charged gas moves, generating a powerful magnetic field. The Sun’s magnetic field goes through a cycle, called the solar cycle.
Parker Solar Probe detects radio signal

Source: GKToday

Start Quiz of 05th May 2021

Q.1) Where is the 'Auro Scholarship Programme' launched?
Q.2) On which ICGS has the Hindustan Aeronautics Limited's (HAL) Advanced Light Helicopter Dhruv Mk III MR completed deck operation trials?
Q.3) Online sales accounted for ___ percent of the total retail sales in 2020, according to the UNCTAD’s “Estimates Of Global E-Commerce 2019 And Preliminary Assessment Of Covid-19 Impact On Online Retail 2020” report?
Q.4) What is the GDP forecast for India for FY22 by Goldman Sachs?
Q.5) Who have been nominated as athlete ambassador for International Olympic Committee’s ‘Believe in Sports’ campaign?
Q.6) Who has become the First woman Officer Executive Engineer (Civil) taking over as Officer Commanding of a Road Construction Company in BRO?
Q.7) When is the International Firefighters' Day 2021 observed?
Q.8) What is the theme of World Asthma Day 2021?
Q.9) What is the cash prize given under the 'Satyajit Ray Lifetime Achievement Award for Excellence in Cinema'?
Q.10) Where is the National Museum of Indian Cinema located?
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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 4 years of experience in the field of Education.

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