Current Affairs 4th and 5th December 2021, Daily GK Update
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Table of Contents
Jharkhand CM launched ‘Hamar Apan Budget’ Web Portal & Mobile App for Budget Suggestion
- Jharkhand Chief Minister Hemant Soren launched a web portal named ‘Hamar Apan Budget’ and a mobile application prepared by the state finance Department from the Chief Minister’s residential office in Ranchi.
- Through this portal, the general public of the state can share their suggestions for the 2022-23 budget.
- Capital: Ranchi
- Chief minister: Hemant Soren
Govt will launch SRESHTA scheme for development of SC students
- The government will launch Scheme for Residential Education for Students in High Schools in Targeted Areas (SRESHTA) for socioeconomics upliftment and overall development of Scheduled Castes students.
- It will be launched on 6th December on Mahaparinirvan Diwas of Dr B R Ambedkar. It will enable bright SC students to have a better future by getting a high-quality education. It will also aid in controlling dropout rates of SC students from class 9th to 12th.
Earth Station of Doordarshan Kendra inaugurated in Gorakhpur, UP
- Union Minister of Information and Broadcasting Anurag Singh Thakur and UP Chief Minister Yogi Adityanath inaugurated Earth Station of Doordarshan Kendra in Gorakhpur.
- This will be the second earth station of Doordarshan in Uttar Pradesh and it is being built at a cost of Rs. 7 crores. Three FM stations of All India Radio were also inaugurated virtually on the occasion.
Smart Cities Mission’s implementation timeline has been extended to June 2023
- Ministry of Housing and Urban Affairs (MoHUA) extended the timeline for the implementation of the Smart Cities Mission (SCM) for all 100 participating cities to June 2023 due to the COVID-19 induced slowdown and other factors.
- The Mission was launched in the year FY2015-16 & set a target of five years i.e., FY2019-20.
- This decision is also based upon the recommendations made by NITI (National Institution for Transforming India) Aayog in August 2021.
- The central government has released Rs 27,235 crores to states and union territories (UTs) for their smart cities.
India and EU will set up Clean Energy and Climate Partnership
- India and European Union (EU) have agreed to step up Clean Energy and Climate Partnership at India-EU Energy Panel meet.
- They jointly agreed on a detailed work program until 2023 to implement the 2016 India-EU Clean Energy and Climate Partnership. They agreed on increased technical cooperation in energy efficiency, renewable energy, green hydrogen, etc.
- The meet was co-chaired by Reenat Sandhu from India and Mechthild Wörsdörfer from European Commission.
About European Union:
- Founded: 1 November 1993, Maastricht, Netherlands
- Headquarters: Brussels
- Member states: 27
- Official languages: 24
- President of the Commission: Ursula von der Leyen
- President of the Parliament: David Sassoli
- President of the European Council: Charles Michel
World Bank has approved $135 million loan to improve efficiency, reliability of electricity supply in West Bengal
- International Bank for Reconstruction and Development (IBRD), the lending arm of World Bank Group, has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in selected areas in the state.
- The variable spread loan or floating interest loan will have a maturity of 17 years, including a grace period of 7 years.
- Aim: To strengthen distribution networks, invest in smart-grid technologies, and ensure financial sustainability of the state discom (distribution companies).
About International Bank for Reconstruction and Development (IBRD):
- Founded: 1944
- Headquarters: Washington DC, USA
- Members: 189 countries
List of Loan approved by World Bank 2021
- $250 Million: Project to make existing dams safe and resilient
- $300 Million (Additional Loan): Maharashtra Rural Connectivity Improvement Project for upgrading rural roads
- $150 Million: Chennai’s Sustainable Urban Services
- $40 million: to strengthen health systems in Meghalaya
- Rs 770 crore: for Assam to promote river transportation
- $250 million: to improve quality of learning in Andhra Pradesh
ADB got Rs 15 crore grant from JFPR to improve urban primary health care in India
- Asian Development Bank has received a grant of around Rs 15 crore (USD 2 million) from the Japan Fund for Poverty Reduction (JFPR).
- The grant is aligned with the $300 million (Rs 2,249 crore) loan support from ADB to the Government of India to strengthen CPHC under the Pradhan Mantri Atmanirbhar Swasth Bharat Yojana (PM-ASBY), which is recently renamed to Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM).
- The fund will be used to enhance urban primary healthcare usage across India.
- Aim: To strengthen the Comprehensive Primary Health Care (CPHC) system in urban areas across India.
About Asian Development Bank (ADB):
- Founded: 19 December 1966
- Headquarters: Mandaluyong, Philippines
- President: Masatsugu Asakawa
- Members: 68 countries
Banking and Financial
SBI partnered with Adani Capital Private Ltd for co-lending to Farmers
- The State Bank of India signed a master agreement with Adani Capital Private Ltd (Adani Capital), to provide support for co-lending to farmers for purchase of tractor and farm implements.
- The SBI will work with Adani Capital to provide co-lending assistance for financing farm mechanisation, warehouse receipt finance, Farmer Producer Organizations (FPOs) etc.
- Aim: To contribute to the mechanisation of agriculture and play a role in improving productivity and help the government in doubling farm income by 2022.
About Adani Capital Private Ltd (Adani Capital):
- Headquarters: Ahmedabad, Gujarat
- MD & CEO: Gaurav Gupta
- Chairman: Gautam Adani
Kotak Mahindra MF launched India’s First Nifty Alpha 50 ETF
- Kotak Mahindra Asset Management Company (Kotak Mahindra Mutual Fund) launched India’s first-ever Nifty Alpha 50 Exchange Traded Fund (ETF) named Kotak Nifty Alpha 50 ETF.
- The New Fund Offer (NFO) will be open for subscription till 15th December 2021.
About Kotak Mahindra Bank (KMB):
- Founded: 2003
- Headquarters: Mumbai, Maharashtra
- MD & CEO: Uday Kotak
- Tagline: Let’s make money simple
S&P projected India’s GDP growth forecast at 9.5% in FY22
- S&P Global Ratings has retained the Gross Domestic Product (GDP) growth forecast of India unchanged at 5 percent for the financial year 2021-22 (FY22) and 7.8 percent for the year ending FY23.
- GDP growth projection of India was revised for FY 24 to 6 percent from 5.7 percent estimated earlier.
Note: India GDP projected FY22 (2021-2022)
- Word Bank-3%
DBS Research projected India’s GDP growth forecast in FY23 to 7%
- The Singapore-based DBS Bank’s economic research team has revised India’s FY23 growth forecast upwards to 7 percent year-on-year (y-o-y) (CY2022 6.5 percent) from 6 percent earlier.
- The bank has maintained India’s FY22 (full-year) forecast at 5 percent y-o-y. The 7 percent y-o-y growth rate in FY23 will be amongst the fastest in its Asia-10 universe.
- It expects India’s current account deficit (CAD) to increase to 1.5 percent (-1.5%) of GDP in FY22 from a 0.9 percent surplus in FY21.
Note: India GDP projected FY22 (2021-2022)
- Moody- FY22 at 9.3% and FY23 at 7.9%
- Care Rating– 8.8 to 9%
- Barclays: 7.7%
- Brickwork Ratings: 10-10.5%
- Economic Advisory Council to PM: 0-7.5% in FY23, 5% in FY22
- Goldman Sachs: 9.1% in FY22
Appointment and Resignation
Pradip Shah appointed as chairman of NARCL & Sanjay Jain appointed as CEO of IDRCL
- Pradip Shah, the founder of IndAsia Fund Advisors, has been appointed chairman of the National Asset Reconstruction Company (NARCL).
- While Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive officer of India Debt Resolution Company (IDRCL), the privately-owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL.
- Diwakar Gupta, former managing director of State Bank of India (SBI), also appointed as Chairman of IDRCL.
- In May 2021, the chief general manager of SBI, Padmakumar Nair was appointed as the MD of NARCL.
Sambit Patra appointed as the new Chairman of India Tourism Development Corporation
- Bharatiya Janata Party (BJP) spokesperson and leader Sambit Patra was appointed as the Chairman and part-time Non-Executive Director of India Tourism Development Corporation (ITDC) by the Appointment Committee of Cabinet for the next 3 years.
- Prior to this, Sambit Patra was working as an independent director of Oil and Natural Gas Corporation (ONGC).
- Ganji Kamala V Rao, IAS (Indian Administrative Services) Officer of 1990 batch, will be appointed as Managing Director of ITDC.
About India Tourism Development Corporation (ITDC):
- Founded: 1966
- Headquarters: New Delhi, Delhi
Assam govt conferred ‘Asom Baibhav Award’ to Ratan Tata
- On the occasion of Asom Divas or Assam Day, the Chief Minister of Assam Himanta Biswa Sarma conferred the prestigious ‘Asom Baibhav’ 2021 award to Ratan Tata, Chairman of TATA Trusts for contributing towards cancer care services in Assam.
- It is the highest civilian award of Assam. Assam day is celebrated on 2 December to commemorate the rule of Chalong Sukapha.
- The Assam Ratna award from now onwards will be known as Asom Baibhav, Assam Vibhushan as Asom Saurav, and Assam Bhusan and Assam Shree award as Asom Gaurav.
- Capital: Dispur
- Chief Minister: Himanta Biswa Sarma
- Governor: Jagadish Mukhi
Delhi’s Nizamuddin Revival Project won 2 UNESCO Asia-Pacific Awards for Cultural Heritage Conservation 2021
- Nizamuddin Revival Project, India’s project on the holistic urban revitalisation of the historic Nizamuddin Basti community, in New Delhi, Delhi has won the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation 2021 under 2 categories: Award of Excellence and Special Recognition for Sustainable Development.
- The project involves the meticulous restoration of over 20 historic monuments clustered around the 14th-century mausoleum of the revered Sufi saint, Hazrat Nizamuddin Auliya.
- Winners of UNESCO Asia-Pacific Awards for Cultural Heritage Conservation 2021: The jury of Heritage experts honoured 9 projects from 6 countries (Bangladesh, China, India, Japan, Malaysia, and Thailand) with the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation 2021.
4 December: Indian Navy Day
- Navy Day in India is observed on December 4 every year to recognize the role and achievements of the Indian Navy.
- The day was chosen to commemorate the launch of Operation Trident against Pakistan during the Indo-Pakistan War in 1971. The Navy plans to celebrate 2021 as ‘Swarnim Vijay Varsh’ as a part of commemorating the 50th anniversary of the victory in the 1971 war.
- The Indian Navy was established by the East India Company in 1612. Later it was named as Royal India Navy and post-Independence, it was reconstituted as the Indian Navy in 1950.
4 December: International Day of Banks
- International Day of Banks is celebrated on December 4 to recognize the importance of multilateral and international development banks in financing sustainable developments.
- In 2019, the United Nations General Assembly designated December 4 as the International Day of Banks. It is celebrated for the first time in 2020.
- United Nations also observes the day in recognition of the vital role of banking systems in Member State in contributing to the improvement of the standard of living.
5 December: World Soil Day
- World Soil Day (WSD) is held annually on 5 December as a means to focus attention on the importance of healthy soil and to advocate for the sustainable management of soil resources.
- In June 2013, the FAO Conference unanimously endorsed World Soil Day. It was also adopted officially in the 68th United Nations General Assembly. As a result, World Soil Day was for the First time Officially celebrated on 5th December 2014.
- Theme 2021: “Halt soil salinization, boost soil productivity”
5 December: International Volunteer Day
- International Volunteer Day or International Volunteer Day for Economic and Social Development is celebrated globally on 5 December each year to recognize and promote the tireless work and contributions of volunteers across the globe.
- Theme 2021: “Volunteer now for our common future”.
Former Andhra Pradesh CM Konijeti Rosaiah passed away in Hyderabad
- Former Governor of Tamil Nadu and former Chief Minister of the unified State of Andhra Pradesh Konijeti Rosaiah (89-years) passed away in Hyderabad.
- Rosaiah had served as MLA, MLC, Lok Sabha members. He held several key portfolios including finance, transport, energy in the cabinets headed by Kotla Vijayabhaskhara Reddy, Channa Reddy, and YS Rajasekhara Reddy.
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