Current Affairs 2nd and 3rd July 2022 Daily GK Update
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FM Nirmala Sitaraman released the Business Reform Action Plan 2020 in New Delhi
- Finance Minister Nirmala Sitharaman released the ease of doing business report under the Business Reform Action Plan (BRAP) 2020 in New Delhi.
- In the report, seven states have been identified as the top achievers based on implementation of the Business Reforms Action Plan. The states are Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Telangana and Tamil Nadu.
- Himachal Pradesh, Madhya Pradesh, Maharashtra, Odisha, Uttarakhand and Uttar Pradesh figure under the Achievers category.
- Assam, Chhattisgarh, Goa, Jharkhand, Kerala, Rajasthan and West Bengal have been placed in the Aspirers category.
- Andaman and Nicobar, Bihar, Chandigarh, Daman and Diu, Dadra and Nagar Haveli, Delhi, Jammu and Kashmir, Manipur, Meghalaya, Nagaland, Puducherry, and Tripura have been clubbed under the Emerging Business Ecosystems category.
CCI approved Google’s 1.28% stake buy in Bharti Airtel
- Competition Commission of India (CCI) approved Google’s proposed acquisition of a minority stake in telecom major Bharti Airtel.
- Google International LLC and Airtel have entered into an investment agreement to buy a minority and non-controlling stake of 1.28 per cent of equity share capital in the telecom player.
- Google has already partnered with Reliance Jio to launch of low cost smartphone – JioNext with an optimized Android OS, as part of Google’s investment into Jio last year. Jio Platforms, the holding company of Reliance Jio, has also received a $5.7 billion investment from Facebook, now Meta, for a 9.99% stake.
About Competition Commission of India (CCI)
- Founded – 2003
- Headquarters – New Delhi
- Chairman – Ashok Kumar Gupta
PM Modi participated Udyami Bharat Programme, and launched schemes for MSME sector
- Prime Minister, Narendra Modi participated in the ‘Udyami Bharat’ programme and launched key initiatives like ‘Raising and Accelerating MSME Performance’ (RAMP) scheme, ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme and new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) to ramp up the MSME sector.
- He also digitally transferred assistance to beneficiaries of PMEGP for 2022-23; announced results of the MSME Idea Hackathon, 2022; distributed National MSME Awards, 2022; and issued Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund.
- ‘Udyami Bharat’ is reflective of the continuous commitment of the government, right from day one, to work towards empowerment of MSMEs. Government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, and Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.
- Prime Minister has launched the ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme, which aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realize their export potential.
- PM has also launched new features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP). These include increase in the maximum project cost to ₹50 lakhs (from ₹25 lakhs) for manufacturing sector and ₹20 lakhs (from ₹10 lakhs) in the service sector and inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through engagement of banking, technical & marketing experts.
PM Modi inaugurated the first smart campus of Bosch in Bengaluru
- Prime Minister Narendra Modi has virtually inaugurated Bosch’s new campus in Bengaluru, built at a cost of 800 crore.
- The Bosch 76-acre Spark.NXT campus features multiple smart solutions based on sustainability, security, and user experience for associates, visitors, and facility management. The smart campus will take a lead in the development of futuristic products and solutions for India and for the world.
- It is a special year for both India and Bosch India, as the nation celebrates 75 years of Independence and Bosch celebrates a century of its presence in India. 100 years ago, Bosch came to India as a German company and now it is as much Indian as German. This is a great example of German engineering and Indian energy.
- Over the last five years, Bosch has invested Rs 800 crore in developing the campus, which has the capacity to potentially house 10,000 associates.
India’s urban population to stand at 675 million in 2035, behind China: United Nations
- According to United Nations: Habitat’s World Cities Report 2022; Envisaging the Future of Cities seeks- India’s urban population is estimated to stand at 675 million in 2035, 2nd highest behind China’s one billion. The report also noted that after the Covid-19 pandemic, the world’s urban population is once again on track to increase by another 2.2 billion people by the year 2050.
- By 2035, percentage of urban residing population in India at mid-year will be 43.2%.
- China’s urban population in 2035 is projected at 1.05 billion.
About United Nations (UN)
- Founded – 24 October 1945
- Headquarters – New York, US
- Official languages – Arabic, Chinese, English, French, Russian & Spanish
- Membership – 193 member states & 2 observer states
- 1st Secretary General – Trygve Halvdan Lie ( Norway)
- 9th Secretary‑General – António Guterres (Portugal)
- Deputy Secretary-General – Amina J. Mohammed (Nigeria)
ReNew Power, UNEP, SEWA launched “Project Surya” to train women as solar technicians
- ReNew Power Limited, a subsidiary of ReNew Energy Global Plc., in partnership with the United Nations Environment Programme (UNEP) and Self-Employed Women’s Association of India (SEWA) launched a one-of its-kind, transformative initiative ‘Project Surya’ to train low-income women salt pan workers to work in the renewable industry.
- Objective – To train 1,000 low-income women salt-pan workers to work in the renewable industry.
- The project kicks off in Gujarat to address multiple Sustainable Development Goals (SDGs), including No Poverty, Gender Equality, Affordable and Clean Energy, Decent Work and Economic Growth and Climate Action.
- The programme will be supported by the government’s National Skill Development Corporation.
About United Nations Environment Programme (UNEP)
- Founded – 5 June 1972
- Headquarters – Nairobi, Kenya
- Executive Director – Inger Andersen (Denmark)
- Member countries – 193
Asia Pacific Sustainability Index 2021: Bengaluru topped in India, Ranks 14th In the APAC Region
- According to the ‘Asia Pacific Sustainability Index 2021’ released by Knight Frank, an international property consultant based in London, UK, four Indian cities made it to the top 20 of the Asia Pacific (APAC) Sustainably Led Cities Index Ranking.
- Bengaluru ranked 14th in the list of top 20 cities in the APAC region in the Gold standard category in terms of compliance with sustainability norms in the development of commercial real estate. Delhi is at 17th, Hyderabad at 18th and Mumbai 20th positions in Silver standard category.
- The top five green-rated cities in the APAC region are Singapore, Sydney (Australia), Wellington (New Zealand), Perth (Australia), and Melbourne (Australia). These five cities earned the Platinum category, the highest category of the index.
- The report also noted that India’s green bond issuances increased 523% on a yearly basis, from $1.1 billion in 2020 to $6.8 billion in 2021.
- Green bond issuances that were negatively impacted by the pandemic in 2020 recovered in 2021, surpassing pre-pandemic levels and posting an increase of 116.9% from $3.1 billion raised in 2019.
- Global Environmental Performance Index 2022: 180th; Denmark topped
- IMD’s World Competitiveness Index 2022: 37th; Denmark topped
- Coursera Global Skill Report 2022: 68th; Switzerland topped
- Ookla Speedtest Global Index 2022: 115th; Norway and Singapore topped
- World Gold Council Report 2021 (Global gold recycling): 4th; China topped
QS Best Student Cities Ranking 2023- London ranks Best City for Student, Mumbai tops in India
- According to the QS Best Student Cities Ranking 2023, released by global higher education consultancy Quacquarelli Symonds (QS), Mumbai ranked at 103 has emerged as India’s highest-ranked student city.
- The other Indian cities in the rankings include Bengaluru at 114, Chennai at 125 and New Delhi at 129.
- London (UK) has topped the list ranked 1 followed by Munich (Germany) and Seoul (South Korea) ranked 2nd and Zurich (Switzerland) ranked 4th.
- The ranking provides students with independent data regarding a range of factors relevant to their study decisions: affordability, quality of life, the standard of university, and the views of previous students that have studied in that destination.
- Cities based on QS Best Student Cities Ranking 2023
- Rank 1 – London (UK)
- Rank 2 – Munich (Germany)
- Rank 3 – Seoul (South Korea)
- Rank 4 – Zurich (Switzerland)
- Rank 5 – Melbourne (Australia)
- Rank 51 – Dubai (UAE)
- Rank 103 – Mumbai (India)
- Rank 114 –Bengaluru (India)
- Rank 125 – Chennai (India)
- Rank 129 – New Delhi (India)
Banking and Financial
World Bank approved USD 1 billion to support India’s health sector
- Two complementary loans totaling $500 million each were authorized by the World Bank Board of Executive Directors to help and develop the health sector in India.
- Through this combined financing of $1 billion, the World Bank is looking to assist the Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), which was launched by the government in October 2021 for the development the public healthcare infrastructure across the country.
- Along with the involvement at the national level, one of the loans is meant to provide priority to the states of Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh for the improvement of their current medical infrastructure.
About World Bank
- Founded – 1944
- Headquarters – Washington DC
- President – David Malpass
- MD & CFO – Anshula Kant
- Chief Economist- Carman Reinhart
- Executive Director – Taufila Nyamadzabo
- Member Countries -189
- World Bank Group – 5 (IBRD, IDA, IFC, MIGA and ICSID)
- All of these efforts support the Bank Group’s twin goals of ending extreme poverty by 2030 and boosting shared prosperity of the poorest 40% of the population in all countries.
Recent Funding approved by WB
- USD 162 million for the RIGHTS project in Tamil Nadu
- USD 150 million funding to support the recovery of India’s fisheries sector
- USD 250 million funding to GOAL; an education project in Gujarat
- USD245 million funding to modernize India’s railway logistics infra
- USD 250 million funding to India’s road safety programme
Fiscal Deficit for April-May at period at 12% of Budget estimates
- The fiscal deficit for first two months of the current fiscal reached over 12 per cent of the Budget Estimate. It is 4 percentage points higher than deficit during the corresponding period of last fiscal. Experts estimate fiscal deficit for the whole year to be higher than the Budget Estimate of 6.4 per cent for FY23.
- Fiscal deficit is the difference between total expenditure and revenue of the government. It is an indication of the total borrowings that are needed by the government.
- The fiscal deficit was at 8.2 per cent of the Budget Estimate (RE) of 2021-22 during the corresponding period. In actual terms, the deficit was at Rs 2,03,921 crore at the end of May, as per the data released by the Controller General of Accounts (CGA).
All rate changes recommended by the 47th GST Council to be made effective from July 18
- The 47th GST council meeting under the Chairmanship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Chandigarh.
- In the meeting, the GST on LED Lamps, lights and fixtures, and their metal printed circuits board is raised from 12 per cent to 18 per cent. In the case of the Solar Water Heater system GST was raised from 5 to 12 per cent whereas in the Works contract for roads, bridges, railways, metro, effluent treatment plant, crematoriums, etc. The tax was raised by 12 to 18 percent.
- Works contract supplied to central and state governments, local authorities for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals, etc. & sub-contractor from 12 to 18 percent.
- GST rate on Tetra Packaging has been raised from 12 to 18 percent. Cut and Polished diamonds are up from 0.25 per cent to 1.5 percent.
- Pre –packed & labelled food item like meat, fish, curd, paneer and honey will now attracts 5% GST.
- 18% GST will be levied on fee charged by banks for issue of cheques.
- All rate changes recommended by the 47th GST Council will be made effective from 18th July, 2022.
What is GST Council?
- The GST Council, formed in 2016 after inserting Article 279A (1) of the Constitution to implement the goods and services tax (GST), is the highest decision-making body for the indirect tax regime in the country. It is headed by the Union finance minister (currently Nirmala Sitharaman) and comprises finance ministers or other representatives of all states and Union Territories. The revenue secretary is the ex-officio secretary to the GST Council and the secretariat office is situated in New Delhi.
SBI, HDFC Bank, ICICI Bank acquired 9.54% stake each in Perfios Account Aggregation Services
- State Bank of India, HDFC Bank and ICICI Bank has acquired a 9.54 per cent stake each in Perfios Account Aggregation Services Private Limited.
- The three banks acquired 8, 05,520 equity shares each by paying Rs 4.03 crore each for the stakes. The investments will be subject to the approval of the Reserve Bank of India (RBI).
- The lenders bought the shares at a price of Rs 50 apiece, according to regulatory filings.
Appointment and Resignation
Eknath Shindhe sworn in as the Chief Minister of Maharashtra
- Eknath Shinde (20th) took oath as the new chief minister of Maharashtra at the Raj Bhavan. Bharatiya Janata Party leader Devendra Fadnavis was sworn in as the deputy chief minister.
- Shinde has served as the urban development minister in the previous Maha Vikas Aghadi government.
- Devendra Fadnavis had served as the CM of Maharastra from 2014-19.
- Capital – Mumbai
- Chief Minister– Eknath Sindhe
- Governor – Bhagat Singh Koshyari
- Vidhan Sabha – 288 Seats
- Lokshabha – 48 Seats
- Rajyasabha – 19 Seats
Ketanji Brown Jackson sworn in as first black woman on US Supreme Court
- Ketanji Brown Jackson has been sworn in to the Supreme Court, shattering a glass ceiling as the first Black woman on the nation’s highest court.
- He replaced Justice Stephen Breyer’s. The 51-year-old Jackson is the court’s 116th justice.
T Raja Kumar appointed as new president of FATF
- T Raja Kumar of Singapore has been appointed as the president of Financial Action Task Force (FATF), the anti-money laundering watchdog.
- Kumar has replaced Marcus Pleyer.
- The FATF is an intergovernmental organization set up by the G7 in 1989 to prevent and combat money laundering, terrorism, and proliferation finance. The FATF also reviews and supervises member jurisdictions to ensure that they fully and effectively apply the FATF standards.
About Financial Action Task Force (FATF)
- Founded – 1989
- Headquarters – Paris, France
- Membership – 39
- President – T. Raja Kumar ( Singapore)
- Acting President of IOA – Anil Khanna
- President of India International Centre – Shyam Sharan
- Chairman of Reliance Jio Infocomm- Akash Ambani
- Additional directors of Jio Infocomm – Raminder Singh Gujral & KV Choudhary
- MD of Jio Infocomm – Pankaj Mohan Pawar
- Chairman of GAIL – Sandeep Kumar Gupta (effect from August)
Yair Lapid elected as the 14th Prime Minister of Israel
- Leader of Yesh Atid Party, Yair Lapid has been officially became the 14th prime minister of Israel, after replacing the Naftali Benett.
- He is a former journalist who serving as PM of Israel since 1 July 2022.
- Capital – Jerusalem
- Currency – New Shekel
- President – Isaac Herzog
- Prime Minister – Yair Lapid
Ashok Soota conferred with CII Quality Ratna Awards 2021
- Ashok Soota, Founder and Executive Chairman of Happiest Minds Technologies, has been conferred with CII Quality Ratna Award 2021.
- The Annual CII Quality Ratna Award constituted in the year 2019 is in recognition of outstanding leadership, contribution, and distinguished service to the Quality Movement in India.
- The CII Awards Committee unanimously concurred to bestow the 2021 Award to Mr. Soota considering his significant contribution to building the competitiveness of the Indian industry through quality Initiatives.
Javelin Thrower, Neeraj Chopra clinched Silver medal at prestigious Diamond League meet
- Olympic champion javelin thrower Neeraj Chopra has clinched his first-ever silver medal at the prestigious Diamond League meet in Stockholm.
- Chopra finished 2nd at the Stockholm Diamond League with a massive throw of 89.94 meter. Anderson Peters won gold medal with a best throw of 90.31 meter.
- Chopra broke his own national record of 89.30m that he set at the Paavo Nurmi Games in Turku.
Adani Sportsline partnered with Indian Olympic Association as the principal sponsor
- Adani Sportsline, the sports arm of the Adani Group, has become an official partner with the Indian Olympics Association (IOA) for the upcoming Birmingham Commonwealth Games 2022, Hangzhou Asian Games 2022, and Paris Olympic Games 2024.
- This is the second time that the Adani Group has come on board with IOA. The earlier association was in 2021 when the group sponsored the Indian Contingent during the Tokyo Olympics.
- The partnership is an extension of the Adani Group’s sports portfolio that focuses on building a world-class ecosystem to nurture sporting talent, accelerate the sports economy, and play the role of an enabler in India’s journey to becoming a leading sporting nation.
2 July 2022 – International Day of Cooperative
- International Day of Cooperatives is marked annually on the first Saturday of July. This year, the day will be observed on 2 July.
- Objective – To promote the successes and ideals of international solidarity, economic efficiency, equality, and world peace.
- Theme 2022 – Cooperative Build a Better World
2 July – World Sports Journalists Day
- World Sports Journalists Day is observed globally on 2nd July every year.
- Objective – To acknowledge the work of sports journalists & to encourage them to do better at their work.
3 July – International Plastic Bag Free
- International Plastic Bag Free Day is celebrated on July 3 all over the world.
- Objective – To raise awareness of the growing harm that the use of this non-biodegradable substance is causing to the environment.
- Theme 2022 – Global initiative that aims to eliminate the use of single-use plastic bags
Extra Information about Plastic use
- India’s 1st single use plastic- free airport – Indira Gandhi International Airport (New Delhi)
- Single-Use Plastic use To Banned by Union Govt. From 1st July, 2022
- Arignar Anna Zoological Park Initiates Use of Plastic Bottles in a Unique Way
- Dabur becomes first Indian plastic waste neutral’ FMCG Company
- India’s 1st Credit Card made from recycled PVC plastic launched by HSBC
- India becomes first Asian Nation to launch ‘Plastics Pact’
- Dzukou Valley (Nagaland ) became a Plastic Free Zone
- The India Plastics Pact’s targets to be achieved by 2030
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