Exp.  India signs $350 million loan agreement with ADB to expand manufacturing sector

The Government of India and the Asian Development Bank (ADB) signed a $350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.

The SMILE program is a programmatic policy-based loan (PBL) to support the government in undertaking wide-ranging reforms in the logistics sector in India.

The programmatic approach comprises two subprograms, which aim to expand India’s manufacturing sector and improve the resilience of its supply chains.

The program establishes and operationalizes a comprehensive policy framework to enhance logistics efficiency through (i) strengthening the institutional bases for multimodal logistics infrastructure development at the national, state, and city levels; (ii) standardizing warehousing and other logistics assets to strengthen supply chains and incentivize greater private sector investment; (iii) improving efficiencies in external trade logistics; and (iv) adopting smart systems for efficient and low emission logistics.

The collaboration between the Government of India and ADB reflects a shared commitment to fostering growth and innovation in the logistics sector, supporting India’s broader economic development goals.

Exp.  Environment Minister Bhupendra Yadav releases India State of Forest Report 2023

Minister for Environment, Forest and Climate Change, Bhupender Yadav released the ‘India State of Forest Report 2023 (ISFR 2023) today at Forest Research Institute, Dehradun.

The ISFR has been brought out by the Forest Suvey of India (FSI) on a biennial basis since 1987. FSI conducts an in-depth assessment of the country’s forest and tree resources based on the interpretation of remote sensing satellite data and field-based National Forest Inventory (NFI), and the results are published in the ISFR. The India State of Forest Report 2023 is the 18th such report in the series.

According to the report, India’s total forest and tree cover spans 827,357 square kilometres, accounting for 25.17% of the country’s geographical area. Additionally, the total forest cover has increased by 1,445 square kilometres compared to the 2021 assessment.

According to the Forest Survey of India (FSI), forest cover refers to all land that has a tree canopy density of more than 10 per cent and spans over an area of one hectare or more, regardless of the type of ownership or legal status. Together, the forest and tree cover amount to 8,27,357 sq km or 25.17 per cent of India’s geographical area.

Exp. SEBI directs MIIs to adopt uniform policy on data sharing for research

The market regulator Securities and Exchange Board of India (SEBI) directed stock exchanges, clearing corporations, and depositories to adopt a uniform policy for sharing data meant for research and research publications undertaken by accredited academic institutions.

These market infrastructure institutions (MIIs) have been asked to segregate such data into two baskets—one that can be shared with the public and the second that cannot be made public.

The first basket will include only aggregate and analysed data, such as reporting and disclosure data mandated by regulators. The segregation is intended to prevent the disclosure of any personal, sensitive, or confidential information in the public domain.

The second basket includes know-your-customer (KYC) information, trade logs, and holding details of an entity or individual, along with the identity of the entity or individual. Further, even anonymised data that could potentially identify the individual or entity will not be shared in the public domain.

Exp. Tata Power, Canara Bank partner to offer loans for rooftop solar systems

Tata Power Renewable Energy, a unit of Tata Power, has partnered with state-run Canara Bank to drive the adoption of rooftop solar systems under the government-backed PM Surya Ghar Scheme, offering affordable financing options to Indian households.

The initiative aims to simplify access to clean energy solutions by providing loans for residential solar installations.

Loans of up to Rs 2 lakh are available for systems with a capacity of up to 3 kW (kilowatt), requiring a 10 per cent margin and no collateral, with an interest rate of 7 per cent per annum and a 10-year repayment period.

For larger systems, ranging from 3 kW to 10 kW, loans of up to Rs 6 lakh are offered with a 20 per cent margin, no collateral, and a 10 per cent annual interest rate over a decade.

The partnership underscores the push for clean energy solutions in India, which aims to achieve 500 GW of installed electric capacity from non-fossil sources by 2030.

Exp. Rajasthan to spend Rs 100 cr annually on one-district-one-product policy

Rajasthan plans to spend Rs 100 crore annually on the one-district-one-product (ODOP) policy for local artisans, farmers, manufacturers and entrepreneurs.

The policy was launched some days ago and it is inspired by Prime Minister Narendra Modi’s “Vocal for Local” vision, said an official of the state industries department. ODOP will also benefit workers, traders and exporters in the state’s 50 districts.

The ODOP initiative targets to foster balanced regional development across all districts of the state. The idea is to select, brand and promote one product from each district of the state to enable holistic socioeconomic growth across all regions.

About Rajasthan

• Capital – Jaipur
• Chief Minister – Bhajan Lal Sharma (replace Ashok Gehlot)
• Deputy Chief Minister – Diya Kumari and Premchand Bairwa
• Speaker of Rajasthan Assembly – Vasudev Devnan
• Governor – Haribhau Bagade

Exp. 21 December – World Meditation Day

The world has observed 21st December 2024 as the first World Meditation Day.

The United Nations designated 21st December as World Meditation Day in a resolution passed by the United Nations General Assembly on 29 November 2024.

Theme 2024 – Inner Peace, Global Harmony

Renowned Indian spiritual leader and founder of the Art of Living Foundation, Sri Sri Ravi Shankar, was the chief guest at the special programme, and he conducted a live, global meditation session.

What is meditation?

• According to the United Nations, meditation is an ancient practice that involves focusing one’s attention on the present moment. Rooted in religious, yogic, and secular traditions across cultures, meditation has been practiced for thousands of years.
• Today, it is embraced worldwide, transcending its spiritual origins to become a universal tool for personal well-being and mental health.

Exp. National Rifle Association Of India to host ISSF Junior World Cup 2025

India will host of the International Shooting Sport Federation (ISSF) Junior World Cup Rifle/Pistol/Shotgun 2025.

This will be the third top ISSF event to be held in the country after the senior World Cup in Bhopal in 2023 and the season-ending ISSF World Cup Final earlier this year, reinforcing India’s stature as one of the sport’s top destinations in the world.

This will be the ninth top level Shooting championship to be held in India over the past decade but the first ISSF Junior World Cup. Before this India had hosted to continental championships and six ISSF competitions, including two World Cup Final competitions besides four senior ISSF World Cups.

Exp. Former SC Judge Justice Madan Lokur appointed chairperson of U.N. Internal Justice Council

Former Supreme Court judge Madan B Lokur has been appointed as chairperson of the United Nations Internal Justice Council (IJC).

Lokur has been appointed for a 4-year-tenure ending on 12th November 2028. In a communication to Justice Lokur.

The General Assembly of the UN established the IJC as part of the new internal justice system to help ensure independence, professionalism and accountability in the administration of the UN’s justice system.

 Justice Madan Lokur retired as a judge of the Supreme Court on 31 December, 2018, after a tenure of more than 6 years.

Recent Appointment in Foreign

• Director of Federal Bureau of Investigation (FBI) – Kash Patel
• Chairman of International Cricket Council (ICC) – Jay Shah (replace Greg Barclay)
• DG of World Trade Organization (WTO) – Dr. Ngozi Okonjo-Iweala (reappointment)
• President of Asian Development Bank – Masato Kanda;11th (replace Masatsugu Asakawa) effect from 24 Feb 2025
• Secretary General of Interpol – Valdecy Urquiza (Brazil’s Federal Police Commissioner)
• Chairperson of 77th Session of WHO Regional Committee – JP Nadda

Exp. 55th GST Council meeting concludes in Jaisalmer

The 55th meeting of India’s Goods and Services Tax (GST) Council, held in Jaisalmer, Rajasthan, significant attention was given to addressing pressing economic issues such as food inflation, unemployment, rural job creation, and maintaining capital expenditure momentum.

The meeting resulted in several significant decisions impacting various sectors. Increase in GST for used electric vehicles (EVs): The Council approved raising the GST rate on old and used electric vehicles from 12 per cent to 18 per cent. This move aims to align the tax structure of used EVs with that of new EVs, which are currently taxed at 5 per cent.

Hike in GST for small petrol and diesel cars: A decision was made to increase the GST rate on small petrol and diesel cars from 12 per cent to 18 per cent. This adjustment is intended to standardise tax rates across different vehicle categories.

Tax relief on health and life insurance premiums: The Council granted full GST exemptions on term life insurance premiums and health insurance premiums for senior citizens. Additionally, health insurance policies with coverage up to Rs 5 lakh for other individuals will also enjoy tax relief. This measure is expected to make insurance more affordable and accessible.

Exp. Namo Bharat train commuters to get 10 per cent discount on tickets through RRTS app

Namo Bharat train commuters can avail a 10 per cent discount on tickets purchased through the RRTS Connect mobile application as part of the “loyalty points program” launched by NCRTC.

National Capital Region Transport Corporation (NCRTC) Managing Director Shalabh Goel launched the initiative at the Sahibabad Regional Rapid Transit System (RRTS).

Under the loyalty points program, passengers will earn one point for every rupee spent on Namo Bharat train tickets.

Each loyalty point is valued at Rs 0.10 (10 paise) and will be credited to the passenger’s account. These points can be redeemed for ticket purchases. Each loyalty point is valued at Rs 0.10 (10 paise) and will be credited to the passenger’s account.

Exp. India clinches U19 ACC Women’s T20 Asia Cup Title

In Women’s Cricket, India clinched the inaugural Under-19 ACC Women’s T20 Asia Cup title at Kuala Lumpur, Malaysia, after defeating Bangladesh by 41 runs in the final.

Chasing a target of 118, Bangladesh were bowled out for a modest 76 runs in just 18.3 overs. For India, Aayyushi Shukla claimed three wickets, while Parunika Sisodia and Sonam Yadav took two wickets each.

Earlier, India, batting first, scored 117 for seven in their allotted 20 overs. Gongadi Trisha was the top scorer with a solid 52 runs off 47 balls. For Bangladesh, Farjana Easmin shone with the ball, picking up four wickets.

The tournament, which began on 15th December, featured six of the best teams from the continent vying for the title. India, led by Niki Prasad, remained unbeaten throughout the competition.

Exp. Ashwini Vaishnaw confers 69th Ati Vishisht Rail Seva Award 2024

Union Railway and Information and Broadcasting Minister Ashwini Vaishnaw conferred the 69th Ati Vishisht Rail Seva Award 2024 to 101 employees and officers for their exceptional contributions to the Indian Railways.

The 101 awardees have been selected across various categories, including innovation leading to improvement in productivity, revenue generation, safety, improvement in operation, security, project completion, and sports.

In addition to the individual awards, 22 Shields have been presented to the best-performing Railway Zones in various categories, recognizing their outstanding achievements and contributions to the overall performance of the Indian Railways.

Exp. HM Amit Shah chairs 72nd Plenary meeting of NEC at Agartala

The union Home minister and Minister of Cooperation, Amit Shah, chaired the 72nd plenary session of the North Eastern Council (NEC) at Agartala, Tripura.

The last plenary session of the North Eastern Council was hosted by Agartala in 2008.

Under the provision of the North Eastern Council Act 1971, as amended in 2002, the Council meeting is held at least twice a year.

What is the North Eastern Council?

The North Eastern Council was set up under the North East Council Act 1971 provisions. It was inaugurated on 7th November 1972  by PM Indira Gandhi in Shillong, Meghalaya.

Initially, it consisted of seven states of the North East- Assam, Meghalaya, Tripura, Arunachal Pradesh, Nagaland, Mizoram and Arunachal Pradesh.

In 2002, the North East Council Act was amended, and Sikkim was made the eighth member of the Council.

Exp. Jaishankar receives ‘Sri Chandrasekarendra Saraswathi’ award for leadership

External Affairs Minister S Jaishankar was awarded the Sri Chandrasekarendra Saraswathi National Eminence Award for Public Leadership by the South Indian Education Society (SIES).

Recent Award

• Bhutan’s royal honour – Renowned Indian educationist Arun Kapur
• Jamsetji Tata Award by Indian Society for Quality (ISQ) – Kiran Mazumdars
• J C Daniel Award for 2023 – J C Daniel Award
• Social Security Good Practices at Asia-Pacific forum in Saudi – EPFO
• 3rd PSU Transformation Award under the “Innovative Product Development” category – Solar Energy Corporation of India (SECI)
• Aster Guardians Global Nursing Award 2024 – Nurse Maria Victoria Juan (from Philippines)

Exp. 21 December – World Basketball Day

World Basketball Day, celebrated on 21 December, honors one of the most popular sports globally.

This date is significant as it marks the birth anniversary of Dr. James Naismith, the inventor of basketball. Dr. Naismith first introduced basketball in December 1891 while teaching at the International YMCA Training School in Springfield, Massachusetts

The global significance of basketball was officially acknowledged by the United Nations General Assembly on August 25, 2023, through the adoption of resolution A/RES/77/324. This resolution declared December 21 as World Basketball Day, celebrating the sport’s ability to bring together people from all walks of life.