Table of Contents
Daily Current Affairs 4th September 2023 Daily GK Update
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National News
Ramnath Kovind will head Panel On ‘One Nation, One Election’
- The Union government has formed a committee under the headship of former President of India Ram Nath Kovind, to look into the feasibility of simultaneous polls to State Assemblies and the Lok Sabha.
- This development follows the government’s announcement to hold a special parliamentary session from September 18th to 22nd, 2023, which has led to curiosity about the session’s purpose.
- ‘One Nation, One Election’ is a concept aimed at synchronizing elections for the Lok Sabha (the lower house of India’s Parliament) and all state assemblies. The central idea is to hold these elections simultaneously, either on a single day or within a specific time frame.
- Conducting polls simultaneously was the norm in India until 1967 and four elections were held this way. The practice stopped after some state assemblies were dissolved prematurely in 1968-69. The Lok Sabha was also, for the first time, dissolved a year ahead of schedule in 1970 and mid-term elections had been held in 1971.
Recent Committees
- SEBI reconstitutes panel on alternative investment policy; chaired by – N R Narayana Murthy
- Government sets up high power committee to review DRDO; chaired by – Prof K Vijay Raghavan
- Government forms new panel to review all official data; chaired by – Pronab Sen
- Chairman of the research advisory committee of ICAR – B Neeraj Prabhakar
- Government sets up panel to recommend reforms in arbitration law; Headed by – T K Vishwanathan (Former law secretary)
Amit Shah launches “Amrit Kalash Yatra” under ‘Meri Maati-Mera Desh’
- Union Home Minister Amit Shah has launched the Amrit Kalash Yatra under the ‘Meri Mati-Mera Desh’ campaign in New Delhi.
- The campaign aims to connect every citizen emotionally with the idea of creating a greater India.
- The Amritkal and “Sankalp Se Siddhi” initiatives will put India at the forefront in every field globally by August 15, 2047.
- The idea behind this programme is that every individual, family, citizen, and child should connect emotionally with the idea of the creation of great India.
- From 1-30th September, every household, ward, and village will collect the ‘Mitti’ or grains in a pot, following it up from 1-13th October at the block and later from 22-27th October at state level, and finally, from 28-30th October these 7,500 pots will reach New Delhi, the capital of the country.
- Prime Minister Narendra Modi will put soil from these Amrit Kalash in the Amrit Vatika created at Delhi honour of our great veers, which will keep on reminding every citizen that we must make India great during the period of Amritkal.
Amit Shah in News
- Amit Shah chairs 26th meeting of Western Zonal Council in Gandhinagar
- Amit Shah plants 4 croreth tree at CRPF Group Center in Greater Noida
- Amit Shah inaugurates development works worth Rs 1052 cr in Gujarat
- Amit Shah lays foundation stone for IFFCO Nano Urea Plant
- Amit Shah laid foundation stone of 108 feet tall statue of Lord Shri Ram in Kurnool
ITC to invest Rs 1,500 cr to set up food manufacturing plant in Madhya Pradesh
- Diversified group ITC will invest around Rs 1,500 crore to set up an integrated food manufacturing and logistics facility and sustainable packaging products manufacturing facility at Sehore in Madhya Pradesh.
- The two projects spread over an area of nearly 57 acres will give a boost to agricultural and manufacturing sectors in Madhya Pradesh.
- The two projects, when complete, would entail a total investment outlay of Rs 1,500 crores which will support livelihoods across sustainable value chain.
- While the food plant will manufacture ITC’s products including atta brand Aashirvaad, Sunfeast biscuits, and ‘YiPPee!’ noodles, the moulded fibre products facility will be a pioneer in sustainable packaging, contributing to plastic substitution in areas such as packaging for electronic items, FMCG, and the food and beverage sector.
- ITC’s investment in the food processing sector through the facility at Sehore is poised to add value to the state’s manufacturing sector and support inclusive agri-value chains.
Banking and Financial
Morgan Stanley raises India GDP forecast to 6.4 percent
- Economists at Nomura and Morgan Stanley have raised their economic growth forecast for India’s fiscal 2024 after data showed the economy grew at its quickest pace in a year in the April-June quarter.
- Economists at BofA Global Research, however, cut their estimates as quarterly growth missed their forecast.
- Nomura now expects India’s gross domestic product (GDP) to rise 5.9 percent for the year ending March 2024, up from the 5.5 percent expected earlier. Morgan Stanley raised it to 6.4 percent from 6.2 percent.
- India’s first-quarter GDP expanded a more-than-expected 7.8 percent on an annual basis, buoyed by strong services activity and robust demand.
- BofA economists slashed their fiscal 2024 forecast to 6.3 percent from 6.5 percent as the first-quarter number was far below their 9.1 percent year-over-year (Y/Y) estimate.
- Nomura lowered the country’s fiscal 2025 GDP growth rate to 5.6 percent from 6.5 percent, citing weak monsoons, higher food inflation, likely slowdown in government capital expenditure, and sluggish global growth pressuring domestic demand.
- Goldman Sachs and Barclays, meanwhile, kept their forecasts for fiscal 2024 unchanged at 6.4 percent and 6.3 percent, respectively, with Barclays seeing a modest upside risk to their forecast.
Updated GDP List
- World Economic Outlook by IMF – 7.2% (FY23), 6.1% (FY24), 6.3% (FY25)
- Economic Survey –7% (FY23), 6.5% (FY24)
- World Bank – 6.9% (FY23), 6.3% (FY24), 6.4% (FY25), 6.5% (FY26)
- Moody– 6.8% (FY23), 6.1% (FY24), 6.3% (FY25)
- NACER – 7.4% (FY23), 6.5% (FY24)
- S&P – 7.2% (FY23), 6.7% (FY24), 6.9% (FY25 & 26)
- ICRA – 6.9% (FY23), 6% (FY24)
Appointment and Resignation
NV Ramana appointed as a member of the Singapore International Mediator Panel
- Former Chief Justice of India (CJI) NV Ramana has been appointed as a member of the prestigious International Mediator Panel of the Singapore International Mediation Centre (SIMC).
- Justice Ramana participated in the ‘Singapore Convention Week’, an annual conference organized by Singapore’s Ministry of Law, the United Nations Commission on International Trade Law (UNCITRAL), and over 20 partner organizations.
- During his tenure as the CJI, Justice Ramana spoke about the importance of mediation in removing the burden in the justice delivery system.
About Singapore International Arbitration Center (SIMC)
- SIMC is an independent non-profit organization in Singapore.
- It specializes in providing arbitration services for cross-border commercial disputes.
- It maintains a panel of international arbitrators who facilitate the resolution of disputes.
Manish Desai assumes charge as Principal DG of PIB
- Manish Desai has assumed charge as Principal Director General of the Press Information Bureau (PIB).
- Desai took over after the superannuation of Rajesh Malhotra.
- Manish Desai, a 1989 batch Indian Information Service Officer. Prior to this, Desai worked as Principal DG of the Central Bureau of Communication, looking after Government advertising and outreach activities.
- He also served in PIB Mumbai for over a decade handling media activity of various national and international events including the International Film Festival of India (IFFI), Goa.
Recent Appointment
- Principal DG of Akashvani – Dr. Vasudha Gupta
- MD for Falabella, India – Ashutosh Dabra
- First woman CEO and chairperson of the Railway Board – Jaya Varma Sinha (replace Anil Kumar Lahoti)
- First Woman to head Indian mission in Pakistan – Geetika Srivastava (replace M Suresh Kumar)
- First Woman field Director of Kaziranga NP – Dr Sonali Ghosh (replace Jatindra Sarma)
L. Kantha Rao takes charge as Secretary of Ministry of Mines
- L. Kantha Rao has assumed charge as the new Secretary of the Ministry of Mines.
- He is the 1992 Batch of the Indian Administrative Service (IAS) Madhya Pradesh Cadre.
- Rao has taken the charge of Secretary of Mines from Shri Vivek Bharadwaj IAS (1989 Batch).
- Prior to this, he was serving as the Additional Secretary of the Ministry of Telecommunications, a position where he played a key role in contributing towards Aatma Nirbhar Bharat.
- He has been instrumental in the successful execution of initiatives under the Digital Communication Policy, Regulatory recommendations, International Relations, and Universal Connectivity.
Other Appointment
- Cabinet Secretary – Rajiv Gauba (one-year extension)
- Secretary of Department of School Education – Sanjay Kumar
- Secretary in Ministry of Road Transport and Highways – Anurag Jain
- Corporate Affairs Secretary- Manoj Govil
- Revenue Secretary – Sanjay Malhotra
- Principal Secretary to PM – Pramod Kumar Mishra
Uday Kotak resigns as MD & CEO of Kotak Mahindra Bank
- Uday Kotak has resigned as the Managing Director and Chief Executive Officer of Kotak Mahindra Bank.
- Uday Kotak has now become a non-executive director of the bank.
- In the interim, Dipak Gupta, the joint managing director, will carry out the duties of the MD and CEO until December 31, 2023, subject to the approval of the Reserve Bank of India (RBI) and the members of the bank.
- Uday Kotak is the founder and promoter of the bank and has been the MD and CEO of Kotak Mahindra Bank Limited (earlier known as Kotak Mahindra Finance Limited) since August 1, 2002.
- He has played an important role in the institution’s growth over the past 38 years.
- As a founder of the bank, Uday Kotak will continue to serve as a Non-Executive Director and significant shareholder.
About Kotak Mahindra Bank
- Founded – 2003
- Founders – Uday Kotak
- Headquarters – Mumbai, Maharashtra
- Chairman – Prakash Apte
- MD & CEO – Dipak Gupta (Interim)
Awards
Manoj Bubna Recognized as ‘Emerging Entrepreneur of the Year 2023
- In a remarkable recognition of visionary leadership and outstanding contributions to the e-commerce technology landscape, N7 – The Nitrogen Platform’s CEO Manoj Bubna has been conferred the prestigious Entrepreneur of the Year 2023 award by the renowned Entrepreneur India business magazine.
- Manoj Bubna, a trailblazing entrepreneur known for his innovative thinking and transformative approach, has steered his company to unprecedented heights, revolutionizing the industry with his groundbreaking ideas and steadfast determination.
- N7 is a vertically focussed Content Delivery Service that empowers commerce brands and enables them to better run their business by providing them with deep insights & then empowering them to use these insights to generate better ROI on their online channel.
About N7 – Nitrogen Platform
- N7 – Nitrogen Platform is a new Digital experience and Streaming platform that delivers better digital experiences, drives conversions, and increases engagement.
- Nitrogen Platform accelerates performance by using predictive caching, 3rd party Java Script Manager, and instantaneous rendering of catalog & product pages.
- With its ultra-fast network and edge computing, the Nitrogen platform is used by its globally located customers to provide accelerated content delivery, supreme quality video, advanced security & hyper-personalized experiences.
Satyajit Majumdar honoured with Dr V G Patel Memorial Award 2023
- Mumbai Professor Satyajit Majumdar, dean of School of Management and Labour Studies from Tata Institute of Social Sciences (TISS), has received the ‘Dr V G Patel Memorial Award-2023 for Entrepreneurship Trainer, Educator and Mentor’ for his work in promoting and strengthening entrepreneurship in India.
- Patel is widely acknowledged as the Father of the Entrepreneurship Movement in India.
- Majumdar’s name was chosen among 400 applicants from 26 states by a jury nominated by the Entrepreneurship Development Institute of India (EDII), Ahmedabad.
- Over the last two decades, Majumdar 63, has played an important role in the development of entrepreneurship, especially in the social sector.
- Along with his team, he has mentored more than 350 startups, including 40 in Jammu and Kashmir and group startups in Jhabua, West Bengal.
- Since joining TISS in 2010, Majumdar’s main role has been to build an ecosystem for entrepreneurship. In 2012, TISS started a separate entrepreneurship cell under his leadership.
Recent Awards
- Miss Earth India 2023 – Priyan Sain
- Miss International India 2023 – Praveena Aanjna
- ET Leadership Excellence Awards – Parmeet Singh Sood
- Harward University’s coveted George Ledlie Prize 2023 – Indian-American economist Raj Chetty & Biologist Michael Springer
- Global Leader Award 2023 – Jayesh Saini
Ravi Kannan won Ramon Magsaysay Award 2023
- The Assam-based surgical oncologist R Ravi Kannan has won the Ramon Magsaysay Award 2023.
- He won the award for revolutionizing the treatment of cancer in Assam through his people-centered and pro-poor programs.
- Kannan worked at the Cancer Institute in Chennai before he moved to Silchar in 2007 to join the Cachar Cancer Hospital.
- The Magsaysay Award, established in 1957, seeks to reward individuals for integrity in governance, courageous service to the people, and pragmatic idealism in democratic societies. It is often referred to as the Nobel Prize of Asia.
Recent Awards
- Diversity in Cinema Award at Indian Film Festival of Melbourne – Mrunal Thakur
- Global Visionary Entrepreneur Award – Deepak Shenoy (MD of Medec Dragon Pvt Ltd)
- Best Managed Pharmaceutical Sustainable Organizations Award 2023– Medec Dragon Pvt Ltd
- Lokmanya Tilak National Award 2023 – Narendra Modi (41st recipient)
- Maharashtra govt’s first ‘Udyog Ratna’ award – Ratan Tata
Sports
McGahey to become first transgender to play international cricket
- Danielle McGahey of Canada will become the first transgender cricketer to play in an international match when she represents her adopted country next month in a regional qualifying tournament for the 2024 Women’s T20 World Cup in Bangladesh.
- The 29-year-old McGahey, an opening batter, has been selected in Canada’s women’s squad for the qualifying tournament after she fulfilled ICC’s eligibility criteria for male-to-female transgender players.
- The qualifying tournament will be played in Los Angeles from September 4 to 11.
- Canada will take on Argentina, Brazil, and the United States in the ICC Americas Qualifier for a place in the global qualifiers.
India beats Pakistan to win Men’s Hockey 5s Asia Cup 2023
- In Hockey, India beat Pakistan in the penalty shootout in the final to win the inaugural Men’s Hockey 5s Asia Cup 2023 in Salalah, Oman.
- The win also served as Asia’s qualifying tournament for the FIH Men’s Hockey5s World Cup Oman 2024.
- Subsequently, India qualified for the FIH Men’s Hockey5s World Cup Oman 2024.
- This is the first time in three meetings that India have beaten Pakistan in the Hockey 5s format. From 2-4 down in the second half, India took the game to the shootout after two goals from Mohammed Raheel.
- Maninder Singh and Gurjot Singh scored for India in the shootout.
Important day
6th Rashtriya Poshan Maah begins
- The Ministry of Women and Child Development is celebrating the 6th Rashtriya Poshan Maah throughout September 2023.
- This year, the objective is to comprehensively tackle malnutrition through a life-cycle approach, the cornerstone of Mission Poshan 2.0.
- The focal point of Poshan Maah 2023 is to cultivate widespread awareness concerning critical human life stages: pregnancy, infancy, childhood, and adolescence.
- The aim is to foster nutritional understanding across India through a theme centered on “Suposhit Bharat, Sakshar Bharat, Sashakt Bharat” (Nutrition-rich India, Educated India, Empowered India).
- POSHAN (Prime Minister’s Overarching Scheme for Holistic Nutrition) Abhiyaan is a Multi-Ministerial Convergence Mission with the vision to ensure the attainment of MalnutritionFree India.
- The Government launched the POSHAN Abhiyaan, earlier known as National Nutrition Mission, on March 08, 2018, to address the problem of malnutrition in the country.
- Centre’s initiative, POSHAN Abhiyaan, has been instrumental in advancing nutritional outcomes for pregnant women, lactating mothers, adolescent girls, and children under 6 years of age in a comprehensive manner.
Obituary
Former Zimbabwe captain Heath Streak passes away
- Former Zimbabwe captain Heath Streak passed away at the age of 49.
- Streak has played 65 Tests and 189 ODIs for Zimbabwe between 1993 and 2005. He ended with 216 wickets in Tests and 239 in ODIs.
- Streak was the captain of Zimbabwe between 2000 and 2004. In 68 ODIs as captain, he led Zimbabwe to win in 18 and lost 47 while three finished without any result. In 21 Tests, Streak captained Zimbabwe to wins in four while they lost 11 and drew six.
- Heath Streak was the first Zimbabwe cricketer to claim 100 wickets in Tests and ODIs. He is also the only cricketer from Zimbabwe to achieve the elusive feat of taking 100 Test wickets and scoring 1000 Test runs.
- Streak was also the only cricketer from his country to score 2000 runs and bag 200 wickets in the ODIs.
- In 2021, he was given an eight-year ban from all cricket-related activities by the International Cricket Council (ICC) for his involvement in corrupt practices.
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