Daily Current Affairs January 04 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: NATIONAL NEWS

Defense minister Rajnath Singh unveils 27 border infrastructure projects

• Indian Defence Minister Rajnath Singh virtually inaugurated 24 bridges and three roads, which have been built by the Border Roads Organisation (BRO) in four states and two union territories.
• He listed the development of critical border infrastructure as a key priority to boost India’s overall military preparedness to confront any security challenge.
• Out of the 24 bridges, nine are in Jammu and Kashmir, five each in Ladakh and Himachal Pradesh, three in Uttarakhand and one each in Sikkim and Arunachal Pradesh & Out of the three roads, two are in Ladakh and one is in West Bengal.
• The bridges range from 20 meters to 140 meters in length.
• The main highlight was the inauguration of a 140-foot double-lane modular bridge, built at the height of 11,000 feet at Flag hill in Sikkim’s Dokala, and the Chisumle-Demchok road at Umling La Pass at over 19,000 feet in Ladakh, which holds the Guinness Record of the world’s highest motorable road.
• This road will provide an alternate route from Leh to Demchock.
• Inauguration of Flag Hill-Dokla Road will reduce travel time for Indian troops to reach Dokla area near Doklam plateau.
• It will enable faster movement of armed forces, boost tourism and ensure socio-economic development of the region.
• The defence minister also announced the setting up of ‘BRO Cafes’ at 75 places which he said would boost tourism and help armed forces personnel in border areas.
• These cafes will showcase the local traditions and have facilities such as parking, sitting area, souvenir shops, medical inspection rooms and photo galleries.
• The Government has started a Comprehensive Integrated Border Management System for Problems of infiltration, skirmishes, illegal trade and smuggling, etc often persist in border areas.

About BRO :

• Founded: 7 May 1960
• Headquarters: New Delhi, Delhi, India
• Director General : Lt. Gen. Rajeev Chaudhary

Click here to read more;

Raksha Mantri inaugurates Kalpana Chawla Centre for Research in Space Science & Technology at Chandigarh University:

• Raksha Mantri Shri Rajnath Singh inaugurated Kalpana Chawla Centre for Research in Space Science & Technology (KCCRSST) at Chandigarh University on January 03, 2022.
• He also launched a Scholarship Scheme, worth Rs 10 crore, for the wards of Defence Personnel of the three Services.
• Established with the objective of training students in space science, satellite development and meet future challenges in space research, the state-of-the-art KCCRSST would be the Ground Control Station for the Chandigarh University’s Student Satellite (CUSat).
• The CUSat will be among the 75 student-built satellites to be launched into space on the eve of the 75^th Independence Day in 2022.
• The Chandigarh University has joined the list of 13 institutes like Indian Institute of Technology (IIT) Kanpur, IIT Bombay and became the first university in North India to design and develop its own satellite. For the project, 75 students of the University have been working on the Chandigarh University Student Satellite Project under the guidance of eminent Indian scientists.

Union Education Minister launches NEAT 3.0 and AICTE prescribed technical books in regional languages:

• Union Education Minister and Skill Development Minister Shri Dharmendra Pradhan launched NEAT 3.0, a single platform to provide the best-developed ed-tech solutions and courses to students of the country.
• The Minister also launched AICTE prescribed technical books in regional languages.
• The Minister encouraged AICTE to integrate courses in NEAT with skill India to tap the opportunities in emerging areas of skill to boost employability and prepare our youth for the future.
• He urged that AICTE and ed-tech companies to offer e-resources in the least possible cost. Shri Pradhan complimented the global ed-tech companies and Indian start-ups who are a part of NEAT 3.0.
• National Educational Alliance for Technology (NEAT) is an initiative to provide the use of best-developed technological solutions in the education sector to enhance the employability of the youth on a single platform for learners’ convenience.

Ministry of Civil Aviation releases draft ‘National Air Sports Policy’ for public feedback:

• Ministry of Civil Aviation has released draft National Air Sports Policy (NASP) for public feedback.
• The draft policy is available on the website of the Ministry and can also be accessed through the link: https://www.civilaviation.gov.in/sites/default/files/Draft-NASP-2022.pdf
• India has the potential to be among the leading nations in the world of air sports. It has a large geographical expanse, diverse topography and fair-weather conditions.
• It has a large population, especially the youth. It has a growing culture for adventure sports and aviation.
• Other than the direct revenue from air sports activities, the multiplier benefits in terms of growth of travel, tourism, infrastructure and local employment, especially in hilly areas of the country, are several times greater.
• The draft National Air Sports Policy (NASP 2022) is a step in this direction.
• It has been drafted on the basis of the inputs received from policy makers, air sports practitioners and public at large.
• It is an  evolving  document and will be modified from time to time.

Click here to read more;

IIT-M to launch Masters Programme in electric vehicles:

• Indian Institute of Technology (IIT) Madras will launch a Master’s Programme in electric vehicles (EV).
• This Interdisciplinary Dual Degree (IDDD) will boost the students’ engagement with e-mobility and will be offered for its BTech and dual degree students.
• The programme will enhance the research capabilities in this field.
• Students are expected to enrol in this programme from January 2022 during their third year of BTech and Dual Degree programmes.
• The initial intake is expected to be 25 students, says a release from the institute.

CURRENT AFFAIRS: BANKING AND ECONOMY

Fino Payments Bank gets RBI nod to start international remittance business:

• Fino Payments Bank has received the Reserve Bank of India’s approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS).
• The Bank will be undertaking inward cross-border money transfer activities in association with an overseas principal, the details of which are being worked out.
• It also has plans to commence outward remittance services soon.

ICICI Prudential Mutual Fund launches Auto ETF:

• NFO will be open for five days from January 5-10. The offering aims to provide returns that closely correspond to the total return of the benchmark Nifty Auto index.
• However, this is one industry which boasts of much higher return on capital employed (RoCE) and cash generation compared with other sectors, attributable to good margins and higher asset turnover.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Govt re-appoints Vijay Paul Sharma as CACP Chairman:

• The Centre has again appointed Vijay Paul Sharma as the chairman of Commission for Agricultural Costs & Prices (CACP) after he relinquished the post in May last year following completion of the five-year tenure.
• The role of CACP chairman will be crucial in the proposed committee on the minimum support price (MSP) and other reforms.
• Sharma, a professor at the Centre for Management in Agriculture in Indian Institute of Management, Ahmedabad was first appointed as CACP Chairman in June 2016.
• He played a critical role in acceding to the government’s decision of fixing the MSP at 50 per cent over the cost of production.
• The government-controlled body used to recommend the MSP based not only on inputs costs, but also by considering other factors such as global and domestic prices, acreage under crops, etc.

Amir Subhani becomes new Chief Secretary of Bihar

• According to a government notification, Amir Subhani,, was appointed the new chief secretary of Bihar.
• According to a notification issued by the General Administration Department, Subhani will take charge on January 1.
• He will replace Tripurari Sharan, who will retire on December 31.
• Subhani, who was the state’s development commissioner before his elevation, will retire in April 2024.
• Meanwhile, Additional Chief Secretary of the social welfare department Atul Prasad, an IAS officer of the 1987 batch, has been appointed as new development commissioner.
• Prasad was earlier posted as additional chief secretary of social welfare department.

About Amir Subhani :

• Subhani, the 1987-batch IAS topper, hails from Bihar’s Siwan district.
• He is Bihar’s first chief secretary belonging to the minority community.
• Earlier, he served as the home commissioner (principal secretary, home department) of Bihar for almost a decade (2009-2019).
• In 2021 February, he was made the development commissioner.

Note :

• Subhani “is Bihar’s first Muslim chief secretary and is the only one in any NDA-ruled state”.

About Bihar :

• Governor: Phagu Chauhan
• Capital: Patna
• Chief minister: Nitish Kumar
• National Park : Valmiki National Park
• Wildlife Sanctuaries : Rajgir Wildlife Sanctuary, Hazaribagh Wildlife Sanctuary, Bhimbandh Sanctuary, Udhwa Lake Bird Sanctuary, Topchanchi Wildlife Sanctuary

CURRENT AFFAIRS : SCHEMES

IT minister Ashwini Vaishnaw launches India Semiconductor Mission

•  Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission.
• This scheme was notified by the Ministry of Electronics and Information Technology on December 21, 2021.
•  Under the scheme, interested companies which seek to tap the Rs 76,000-crore incentives earmarked by the Central government for developing semiconductors and displaying the manufacturing ecosystem in India will be able to start applying for it from January 1, 2022.
• A fiscal support of up to 50 per cent of the project cost has been approved for setting up certain variants of silicon-based semiconductor fab in India.
• According to the policy notification, the financial support is for six years from the date of approval.
• A support of up to Rs 12,000 crores per fab has been earmarked under the scheme for setting up display fabs in India.
• The scheme aims at attracting large investments in manufacturing TFT LCD or AMOLED-based display panels.
• A Scheme for Setting up of Compound Semiconductors / Silicon Photonics / Sensors (including MEMS) Fabs and Semiconductor ATMP / OSAT facilities in the country extends fiscal support of 30 percent of capital expenditure to approved units.
• It is expected that at least 15 such units of Compound Semiconductors and Semiconductor Packaging are expected to be established under this scheme.
• A Design Linked Incentive (DLI) Scheme offers an incentive of up to 50 per cent of eligible expenditure and product deployment linked incentive of 4-6 per cent on net sales for five years.

About Ministry of Electronics and Information Technology :

• Cabinet Minister : Ashwini Vaishnaw
• Minister of State : Rajeev Chandrasekhar
• Secretary : Ajay Prakash Sawhney

Click here to read more;

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Reliance New Energy Solar acquires 100% stake in Faradion Limited

• Reliance New Energy Solar Ltd, a subsidiary of Reliance Industries Ltd (RIL), has signed a definitive agreement to pick up a 100% stake in Faradion Ltd for an enterprise value of £100 million.
• It has also agreed to subscribe to new equity shares of Faradion for an aggregate consideration of 31.59 million pounds (INR 3.17 billion), of which 25 million pounds (INR 2.5 billion) is as growth capital for accelerating commercial roll out and the balance for repayment of debt and other fees.
• The announcement is in line with billionaire Mukesh Ambani’s ambitious plans of investing Rs 75,000 crore over the next three years to build a new clean energy business aimed at RIL’s commitment to be net carbon neutral by 2035.
• Faradion, which is based out of Sheffield and Oxford, has patented sodium-ion battery technology.
• It has a competitive, strategic, wide-reaching and extensive IP portfolio covering several aspects of sodium-ion technology.
• The sodium-ion technology developed by Faradion provides a globally leading energy storage and battery solution which is safe, sustainable, provides high energy density and is significantly cost competitive.
• Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, India.
• The acquisition will help secure India’s energy storage requirements for its large renewable energy and fast-growing electric vehicle (EV) charging market.
• This will further strengthen and build upon our ambition to create one of the most advanced and integrated New Energy ecosystems and put India at the forefront of leading battery technologies.

CURRENT AFFAIRS : SPORTS NEWS

South Africa’s Quinton De Kock Announces Retirement From Test Cricket

• South Africa’s star wicketkeeper-batter Quinton de Kock announced his retirement from Test cricket with immediate effect.
• He remained committed to playing international limited-overs cricket (white-ball cricket).

About Quinton De Kock :

• Quinton de Kock born on 17 December 1992 in Johannesburg, Gauteng, South Africa.
• He is a South African cricketer and former captain of the Proteas in all three formats.
• He has Twice named as South African Cricketer of the Year in 2017 & 2020.
• He became the fourth player to score three successive one-day centuries and the second player to score four ODI centuries.
• He has also played in the Indian Premier League (IPL) for Sunrisers Hyderabad, Delhi Daredevils, Royal Challengers Bangalore, and Mumbai Indians.
• De Kock made his Test debut against Australia in Port Elizabeth in February 2014.
• He has played 54 Tests, scoring 3300 runs at an average of 38.82 with six hundreds and 22 half-centuries.
• While being a wicketkeeper in the longest format, De Kock accounted for 232 dismissals, including 221 catches and 11 stumpings.
• He has also taken the third-most catches in the inaugural ICC World Test Championship – 48 in 11 matches (47 catches and 1 stumping)
• He has a personal best of six dismissals in an innings, against England in Centurion in 2019.

Click here to read more;

UNION GOVERNMENT SCHEME

Pradhan Mantri Matsya Sampada Yojana (PMMSY)

Launched on:

On 10th September, the Government of India launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY), a scheme intended to bring about the Blue Revolution through sustainable and responsible development of the fisheries sector in the country.

Ministry involved:

The scheme is under administrative control of ministry of Ministry Of Fisheries, Animal Husbandry And Dairying Government Of India

Minister of fisheries, animal husbandry & dairying – Parshottam Rupala (Gujrat)

Objectives :

Harnessing of fisheries potential in a sustainable, responsible, inclusive and equitable manner .

Enhancing of fish production and productivity through expansion, intensification, diversification and productive utilization of land and water.

Modernizing and strengthening of value chain – post-harvest management and quality improvement.

Doubling fishers and fish farmers incomes and generation of employment.

Enhancing contribution to Agriculture GVA and exports.

Social, physical and economic security for fishers and fish farmers 12 .

Robust fisheries management and regulatory framework.

Target Group :

The benificiaries of the schemes are :

(i)Fishers 15

(ii) Fish farmers

(iii) Fish workers and Fish vendors

(iv) Fisheries Development corporations

(v) Self Help Groups (SHGs)/Joint Liability Groups (JLGs) in fisheries sector

(vi) Fisheries cooperatives

(vii) Fisheries Federations

(viii) Entrepreneurs and private firms

(ix) Fish Farmers Producer Organizations/Companies (FFPOs/Cs)

(x) SCs/STs/Women/Differently abled persons

(xi) State Governments/UTs and their entities including

(xii) State Fisheries Development Boards (SFDB)

(xiii) Central Government and its entities

Benefits :

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India is implementing Pradhan Mantri Matsya Sampada Yojana – A scheme to bring about Blue Revolution through sustainable and responsible development of fisheries sector in India at an estimated investment of Rs. 20050 crores for holistic development of fisheries sector including welfare of fishers. PMMSY is being implemented in all the States and Union Territories for a period of 5 years from FY 2020-21 to FY 2024-25.

PMMSY is designed to address critical gaps in the fisheries value chain from fish production, productivity and quality to technology, post-harvest infrastructure and marketing. It aims to modernize and strengthen the value chain, enhance traceability and establish a robust fisheries management framework while simultaneously ensuring the socio-economic welfare of fishers and fish farmers.

i.Address the critical gaps in the fisheries sector and realize its potential.

ii. Augmenting fish production and productivity at a sustained average annual growth rate of about 9% to achieve a target of 22 million metric tons by 2024-25 through sustainable and responsible fishing practices.

iii. Improving availability of certified quality fish seed and feed, traceability in fish and including effective aquatic health management.

1. Creation of critical infrastructure including modernisation and strengthening of value chain.
2. Creation of direct gainful employment opportunities to about 15 lakh fishers, fish farmers, fish workers, fish vendors and other rural/urban populations in fishing and allied activities and about thrice this number as indirect employment opportunities including enhancement of their incomes.
3. Boost to investments in fisheries sector and increase of competitiveness of fish and fisheries products.

vii. Doubling of fishers, fish farmers and fish workers incomes by 2024

viii. Social, physical and economic security for fishers and fish workers.

Key Features of Scheme

The Scheme will be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.

Nodal Ministry: Ministry of Fisheries, Animal Husbandry and Dairying.

The PMMSY will be implemented as an umbrella scheme with two separate Components namely (a) Central Sector Scheme (CS) and (b) Centrally Sponsored Scheme (CSS). The Centrally Sponsored Scheme (CSS) Component is further segregated into Non-beneficiary oriented and Beneficiary orientated sub¬components/activities under the following three broad heads:

1. a) Enhancement of Production and Productivity
2. b) Infrastructure and Post-Harvest Management
3. c) Fisheries Management and Regulatory Framework

Corpus :

For implementation of the PMMSY over a period of five years from the financial year FY 2020-21 to FY 2024-25, a total investment of Rs. 20,050 crores comprising of

(a) Central share of Rs. 9,407 crores,

(b) State share of Rs 4,880 crores and

(c) Beneficiaries share of Rs. 5,763 crores has been estimated.

Daily CA On Jan 04 :

• Indian Defence Minister Rajnath Singh virtually inaugurated 24 bridges and three roads, which have been built by the Border Roads Organisation (BRO) in four states and two union territories.
• Raksha Mantri Shri Rajnath Singh inaugurated Kalpana Chawla Centre for Research in Space Science & Technology (KCCRSST) at Chandigarh University on January 03, 2022.
• Ministry of Civil Aviation has released draft National Air Sports Policy (NASP) for public feedback.
• Indian Institute of Technology (IIT) Madras will launch a Master’s Programme in electric vehicles (EV).
• Fino Payments Bank has received the Reserve Bank of India’s approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS).
• NFO will be open for five days from January 5-10. The offering aims to provide returns that closely correspond to the total return of the benchmark Nifty Auto index.
• The Centre has again appointed Vijay Paul Sharma as the chairman of Commission for Agricultural Costs & Prices (CACP) after he relinquished the post in May last year following completion of the five-year tenure.
• According to a government notification, Amir Subhani,, was appointed the new chief secretary of Bihar.
• Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission.
• Reliance New Energy Solar Ltd, a subsidiary of Reliance Industries Ltd (RIL), has signed a definitive agreement to pick up a 100% stake in Faradion Ltd for an enterprise value of £100 million.
• South Africa’s star wicketkeeper-batter Quinton de Kock announced his retirement from Test cricket with immediate effect.