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Daily Current Affairs – August 01, 2023

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Daily Current Affairs - Banking - August 01, 2023

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National News

National Mission for Clean Ganga Approves 7 Projects Worth Rs. 692 Crore

  • The 50th meeting of the Executive Committee of the National Mission for Clean Ganga (NMCG) was held under the chairmanship of DG, NMCG, Shri G. Asok Kumar where Seven projects worth around Rs. 692 crore were approved.
  • Out of the seven projects, four pertain to sewage management in Uttar Pradesh and Bihar.
  • NMCG has so far sanctioned a total of 452 projects worth around Rs. 38,126 crores out of which 254 have been completed.
  • For sewage management in Uttar Pradesh, 3 projects worth Rs. 661.74 crore were approved in the meeting.
  • These include creation of a 100 Million Litres per Day (MLD) STP in Lucknow along with Interception and Diversion (I&D) works under Hybrid Annuity Mode (HAM).
  • Another project for I&D of balance discharge of Dariyabad Pipalghat and Dariyabad Kakahraghat drains and construction of a 50 MLD STP in Prayagraj was approved.
  • This project costing around Rs. 186.47 crore will augment the existing treatment capacity of Naini STP in sewerage district-A in Prayagraj to 80 MLD.
  • In a smaller project, a 6 MLD STP, I&D and other works in Hapur was also approved to stop the flow of Hapur city drain into River Kali, which is a tributary of River Ganga.
  • Two STPs (5 and 7 MLDs) at an estimated cost of Rs. 74.64 crore for tapping of Pipra ghat drain and Chhatiya ghat drain respectively along with I&D works was also approved in the 50th EC meeting for Raxaul town in Bihar.
  • This project will abate pollution in Sirsiya River that originates in Nepal and enters Bihar at Raxaul in East Champaran district.

International News

India to discuss grid linking with Singapore to trade in green power

  • India and Singapore are accelerating their plans to establish a power grid through an underwater cable passing via the Andaman & Nicobar region.
  • This ambitious project will empower India to export its renewable energy to Singapore.
  • The agreement is anticipated to be signed in the near future.
  • The cost of renewable energy exported to Singapore through this agreement is expected to be lower than their gas-based electricity.
  • Additionally, Singapore has a commitment to meet its nationally determined contributions (NDC) under the Paris Agreement.
  • Acquiring renewable energy from India will play a crucial role in accomplishing this target.
  • Both nations engaged in talks regarding this matter during the G20 Energy Ministerial and Clean Energy Ministerial meetings held earlier this month.
  • Singapore expresses a strong interest in the plan.
  • The Power Grid Corporation of India Ltd., a state-owned entity, is currently conducting detailed technical studies on the project.
  • Previously, Singapore acknowledged the limitations posed by land scarcity and intermittent solar power for expanding renewable energy within the country.
  • They are actively exploring various alternatives, including the possibility of regional power grids like the one proposed with India.
  • Due to its geographical isolation, the Andaman & Nicobar Islands face distinctive difficulties concerning their power supply.
  • The total generation capacity of the union territory across various islands is approximately 109.45 MW.
  • Out of this capacity, nearly 91% relies on diesel-based generation, while the remaining is sourced from hydro and solar power.
  • Singapore – Singapore City (Capital) – Singapore dollar (Currency) – Halimah Yacob (President) – Lee Hsien Loong (Prime Minister) – Malay (Language)

State News

PM lays foundation stone and inaugurates various development projects in Pune, Maharashtra

  • The Prime Minister, Shri Narendra Modi flagged off metro trains marking the inauguration of completed sections of Pune Metro.
  • He also handed over more than 1280 houses constructed under Pradhan Mantri Awas Yojana by Pimpri Chinchwad Municipal Corporation (PCMC) and more than 2650 PMAY houses constructed by Pune Municipal Corporation to the beneficiaries.
  • The foundation stone for around 1190 PMAY houses to be constructed by PCMC and over 6400 houses constructed by Pune Metropolitan Region Development Authority.
  • The Prime Minister also inaugurated a Waste to Energy Plant under PCMC developed at a cost of about Rs 300 crores.
  • Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)

Kerala CM launches Startup Mission’s LEAP membership card

  • Kerala Chief Minister Pinarayi Vijayan has launched the statewide membership card of Kerala Startup Mission’s (KSUM) ‘LEAP Coworks’ and also inaugurated the refurbished headquarters of KSUM in Thejaswini Building, Technopark Phase 1, Thiruvananthapuram.
  • LEAP (Launch, Empower, Accelerate, Prosper) Coworks is a pioneering initiative which comes as part of the government’s mission to transform industry incubators into co-working spaces to provide further impetus to innovation and collaboration for a successful startup ecosystem.
  • For this, KSUM is engaged in transforming its incubation centres, partner incubation centres and IEDC-owned incubation centres into a vibrant co-working space called LEAP Coworks.
  • The new KSUM headquarters in Technopark has been rebranded as LEAP Coworks Space.
  • By this move, KSUM expects to provide standardised co-working spaces across the State for the startups.
  • Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)

Tamil Nadu’s Jaderi ‘namakatti’, chedibutta saree and Kanniyakumari Matti banana get GI tag

  • Three famous products from Tamil Nadu Jaderi namakatti, Kanniyakumari Matti banana, Chedibutta saree were given the GI tag by the Geographical Indications Registry in Chennai.
  • Jaderi namakatti are clay sticks that are white in colour, usually available in finger-like shape with a smooth texture.
  • The application seeking tag for this product was filed by Jaderi Tiruman (Namakatti) Producers Society.
  • Jaderi is a small village in Tiruvannamalai district.
  • Matti banana is mostly grow in the Agatheeswaram, Thovalai, Thiruvattar taluks of Kanniyakumari district.
  • It is a traditional table banana cultivar of medicinal value and the fruit is highly fragrant, sweet with sub-acid flavour, firm texture and powdery nature.
  • The Matti banana fruit‘s apex is 2.5 – 3 cm long and looks like mouth of a crocodile.
  • It is also called as ‘Crocodile Finger Banana’.
  • The Chedibutta saree is a handloom saree which depicts the Chedibutta design in art silk and cotton mix fabric.
  • The name ‘Chedibutta’ is a combination of two Tamil words ‘Chedi’ (plant) and ‘Butta’ (repeated motif or design).
  • The Chedibutta saree has the iconic “plant and flower” motif woven on the border and pallu (edge of the saree).
  • This flower plant design or the Chedibutta design is the intrinsic characteristic of this saree, hence the name.
  • The saree is woven using art silk thread while the Chedibutta designs are made using brightly coloured cotton threads.
  • The Sowrashtra community are the primary weavers of the saree.
  • These sarees are woven by skilled weavers of the Veeravanallur town in the Tirunelveli.

Banking and Finance

India's fiscal deficit for Q1 reaches 25.3% of annual target

  • The central government’s fiscal deficit increased to 25.3 per cent or Rs 4.5 lakh crore for the first quarter of the current financial year 2023-24.
  • The fiscal deficit in the corresponding period last year was 21.2 per cent of the budget estimates.
  • The higher deficit for April-June 2023 is due to a rise in capital expenditure and accelerated tax devolution to states, which experts said offset the sharp jump in non-tax revenue. 
  • According to the CGA, the total non-tax revenue for the first three months of this financial year was Rs 1,54,968 crore or 51.4 per cent of the budget estimates against 23.1 per cent for the same period last year.
  • Dividends and profits made up 105 per cent of the non-tax revenue, adding up to Rs 91,000 crore.
  • That tax revenue for the April-June 2023 period was Rs 4,33,620 or 18.6 per cent of the budget estimates compared to 26.1 per cent in the first quarter last year.

Business and Economy

GST collections in July rise 11 pc to Rs 1.65 lakh crore

  • The Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore.
  • The GST revenues generated in July 2023 were 11 per cent higher than it was registered in the same month last year.
  • Of the total GST collection in July, CGST was Rs 29,773 crore, SGST was Rs 37,623 crore, IGST was Rs 85,930 crore (including Rs 41,239 crore collected on import of goods) and cess Rs 11,779 crore (including Rs 840 crore collected on import of goods).
  • Notably, in April, the gross GST collection was at an all-time high of Rs 187,035 crore.
  • Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)

India's core sector output expands to 5-month high at 8.2% in June

  • Output of eight key infrastructure sectors known as the core sector expanded to a five-month high of 8.2 per cent in June.
  • This is due to a high base effect and positive growth in seven of the eight sectors.
  • In June last year, the core sector had grown by 13.1 per cent.
  • The print for May 2023 has undergone a significant revision to 5 per cent from 4.3 per cent estimated earlier.
  • Data released by the Ministry of Commerce and Industry showed that while growth in the output of fertiliser (3.4 per cent) and cement (9.4 per cent) slowed than the previous month, that of coal (9.8 per cent), refinery products (4.6 per cent), steel (21.9 per cent), and electricity (3.3 per cent) accelerated in June.
  • Though the contraction continued for the 13th consecutive month in the output of crude oil (-0.6 per cent), natural gas saw positive growth (3. 6 per cent) for the first time in three months.
  • Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)

Agreements and MoUs signed

Foxconn inks Rs 1.6K crore deal with TN for mobile component plant

  • Tamil Nadu (TN) signed an agreement with Taiwan’s Foxconn, the world’s largest electronics manufacturer, to build a mobile component manufacturing facility in the Kancheepuram district at a proposed investment of Rs 1,600 crore, likely employing 6,000 people.
  • The global major is also in talks with TN regarding the electric vehicle (EV) segment, as part of its strategy to establish an EV manufacturing unit in India this year.
  • Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)

Trai and C-DoT sign MoU for cooperation in telecommunications sector

  • Telecom Regulatory Authority of India (Trai) and the Centre for Development of Telematics (C-DoT) have signed a memorandum of understanding (MoU) to establish mechanism of technical and institutional cooperation in telecommunications.
  • The Ministry of Communications informed in a press release that the Trai Centre of Studies and Research (Trai CSR) was established as an entity within Trai with a mandate to conceptualise, coordinate, and enable technological studies in the telecom and broadcasting sectors.
  • Its task is to enable technology-driven growth in India by combining the energies of different industries and sectors.
  • The MoU has brought the two parties, Trai CSR and C-DoT together to reach the common goal of establishing a mechanism of technical and institutional cooperation in the field of telecommunications.
  • Telecom Regulatory Authority of Colombia (TRAI) – 20/02/1997 (Founded) – New Delhi (HQ) – PD Vaghela (Chairperson)


Shivendra Nath Joins EPIL as Chairman and MD

  • Shivendra Nath has been appointed as the Chairman and Managing Director (CMD) of Engineering Projects (India) Ltd., a public sector undertaking (PSU) under the Ministry of Heavy Industries and Public Enterprises.
  • Currently, Nath is serving as the senior general manager in Bharat Sanchar Nigam Limited (BSNL) and has been recommended for the CMD position by the Public Enterprises Selection Board (PESB) panel.
  • Ministry of Heavy Industries – Mahendra Nath Pandey,Union Minister (Chandauli,UP) – Krishan Pal Gurjar,Minister of State (Faridabad,Harayana)

Awards and Recognitions

PM conferred with Lokmanya Tilak National Award

  • The Prime Minister, Shri Narendra Modi was conferred the 41st recipient Lokmanya Tilak National Award in Pune, Maharashtra.
  • The Award was constituted by Tilak Smarak Mandir Trust in 1983 to honor the legacy of Lokmanya Tilak.
  • The Prime Minister donated the cash prize to the Namami Gange Project.
  • This award is given every year on 1st August, the death anniversary of Lokmanya Tilak, to persons who have made remarkable and extraordinary contributions, working for the progress and development of the nation.
  • Bal Gangadhar Tilak, commonly known as Lokmanya Tilak, was a prominent Indian nationalist, freedom fighter, social reformer, and political leader during the Indian independence movement.
  • This award was previously bestowed to former Presidents Dr Shankar Dayal Sharma and Pranab Mukherjee; former PMs Indira Gandhi, Atal Bihari Vajpayee and Dr Manmohan Singh; businessmen NR Narayana Murthy and Cyrus Poonawala; and engineer E Sreedharan, among others.
  • Last year, the Lokmanya Tilak National Award was conferred upon senior scientist Tessy Thomas, popularly known as India’s “missile woman.”

Books and Authors

Union Minister Amit Shah unveils book 'Memories Never Die,' tribute to former President Dr. APJ Abdul Kalam

  • Book: Memories Never Die
  • Author: Dr. APJM Nasima Maraikayar and scientist Dr. Y. S. Rajan
  • Publisher: Prabhat Prakashan Pvt. Ltd.
  • Published by: Union Minister Amit Shah


Former Kerala speaker Vakkom Purushothaman passes away

  • Former Kerala speaker and senior Congress leader Vakkom Purushothaman passed away at 95.
  • The veteran leader was elected to the Kerala Assembly five times from Attingal Assembly constituency and became a minister thrice.
  • He was the longest-served Speaker of the Kerala assembly, from 1982 to 1984 and again from 2001 to 2004.
  • He was also elected twice to the Lok Sabha from Alappuzha constituency and served from 1984 to 1991.
  • Purushothaman served as the 6th Lieutenant Governor of the Andaman and Nicobar Islands from 1993 to 1996, the Governor of Mizoram from 2011 to 2014 and Governor of Tripura for two months in 2014.

Important Days

Muslim Women Rights Day

  • The Muslim Women Rights Day is observed across the country on August 1, to celebrate the enactment of the Muslim Women (Protection of Rights on Marriage) Act, 2019 which prohibits the practice of Triple talaq in India.
  • The first Muslim Women Rights Day was observed on 1 August 2020 across the country.

World Wide Web Day

  • World Wide Web Day is celebrated on August 1 every year.
  • The day is observed to commemorate the World Wide Web (www) and its impact on the world.
  • It was on August 1 in 1991 that Tim Berners-Lee posted a proposal for the World Wide Web on the alt.hypertext newsgroup; this day is, therefore, celebrated with great importance every year.
  • The year 1989 marked the beginning of the Internet.

World Breastfeeding Week

  • World Breastfeeding Week (WBW) is an annual celebration which is held every year from 1 to 7 August in more than 120 countries.
  • World Breastfeeding Week was first celebrated in 1992 by WABA and is now observed in over 120 countries by UNICEF, WHO and their partners including individuals, organizations, and governments.
  • Theme – “Let’s make breastfeeding and work, work!”

Daily Current Affairs - August 01, 2023 - Consolidated

  • National Mission for Clean Ganga Approves 7 Projects Worth Rs. 692 Crore
  • India to discuss grid linking with Singapore to trade in green power
  • PM lays foundation stone and inaugurates various development projects in Pune, Maharashtra
  • Kerala CM launches Startup Mission’s LEAP membership card
  • Tamil Nadu’s Jaderi ‘namakatti’, chedibutta saree and Kanniyakumari Matti banana get GI tag
  • India’s fiscal deficit for Q1 reaches 25.3% of annual target
  • GST collections in July rise 11 pc to Rs 1.65 lakh crore
  • India’s core sector output expands to 5-month high at 8.2% in June
  • Foxconn inks Rs 1.6K crore deal with TN for mobile component plant
  • Trai and C-DoT sign MoU for cooperation in telecommunications sector
  • Shivendra Nath Joins EPIL as Chairman and MD
  • PM conferred with Lokmanya Tilak National Award
  • Union Minister Amit Shah unveils book ‘Memories Never Die,’ tribute to former President Dr. APJ Abdul Kalam
  • Former Kerala speaker Vakkom Purushothaman passes away
  • Muslim Women Rights Day
  • World Wide Web Day
  • World Breastfeeding Week

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