Daily Current Affairs 19-10-2024
National News, Banking and Financial , Appointments
Author: DIA TEAM
Published On: 19 October 2024
National News
Cabinet Approves 3% Increase in Dearness Allowance for Central Government Employees.
- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a 3% increase in Dearness Allowance (DA) for central government employees, effective from July 1, 2024.
- This increase will also extend to pensioners, who will receive a corresponding 3% hike in Dearness Relief (DR).
- The total annual financial burden on the government due to this increase will be approximately ?9,448.35 crore.
- The revision is expected to benefit around 49.18 lakh central government employees and 64.89 lakh pensioners.
- The DA and DR adjustments occur twice a year, on January 1 and July 1, and are based on the All India Consumer Price Index for Industrial Workers (AICPI-IW).
- Employees will receive arrears for July, August, and September along with their revised payments, aimed at counteracting inflation's impact on real wages.
Nityanand Rai Represents India at APMCDRR in Manila.
- Union Minister of State for Home Affairs, Nityanand Rai, represented India at the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) held in Manila, Philippines.
- The conference, attended by over 7,000 ministers and delegates from across the Asia-Pacific region, focused on the urgent need for enhanced action in disaster risk reduction.
- Organized by the Philippine government in collaboration with the United Nations Office for Disaster Risk Reduction, the 2024 conference's theme is “Surge to 2030: Enhancing ambition in Asia-Pacific to accelerate disaster risk reduction.”
- APMCDRR serves as a crucial platform for the Asia-Pacific region to monitor and promote cooperation in implementing the Sendai Framework for Disaster Risk Reduction (2015-2030), bringing together various stakeholders to advance efforts in reducing disaster risks effectively.
India Hosts 19th ICDRA Meeting in New Delhi.
- India has proudly hosted the 19th International Conference of Drug Regulatory Authorities (ICDRA) meeting in New Delhi.
- Originally scheduled for 2020, the event was postponed due to the COVID-19 pandemic and has now taken place in 2024.
- This marks the first time India has hosted the ICDRA meeting, which brings together drug authorities from World Health Organization (WHO) member countries.
- The goal is to strengthen collaboration and establish international consensus on regulatory priorities in the pharmaceutical sector.
- Inaugurated by Union Minister for Health and Family Welfare, Jagat Prakash Nadda, the conference's theme for 2024 is “Smart Regulation: Delivering Quality Assured Medical Products for All.”
- This initiative aims to enhance the regulatory landscape for medical products, ensuring that they are safe, effective, and accessible to all.
Cabinet Approves Minimum Support Prices for Rabi Crops (2025-26).
- The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for the 2025-26 marketing season.
- The highest increase has been announced for rapeseed and mustard, with an increase of ?300 per quintal, followed by lentil (masur) at ?275 per quintal.
- Other notable increases include ?210 for gram, ?150 for wheat, ?140 for safflower, and ?130 for barley.
- The MSP, introduced in 1966-67, aims to provide farmers with a guaranteed price for their crops, ensuring financial stability and encouraging agricultural production.
- The government aims for the MSP to be at least 1.5 times the All-India weighted average cost of production, thus benefiting farmers across the country.
SECL Becomes the First Coal Company to Launch Four AMRIT Pharmacies.
- South Eastern Coalfields Limited (SECL), a subsidiary of Coal India based in Chhattisgarh, has officially opened the country’s 216th AMRIT (Affordable Medicines and Reliable Implants for Treatment) Pharmacy.
- This new facility, located at the Health Centre in SECL’s Indira Vihar Colony in Bilaspur, makes SECL the first coal company to operate four AMRIT pharmacies.
- The AMRIT pharmacies, initiated by the Ministry of Health and Family Welfare in 2015, offer a comprehensive range of generic and life-saving branded medications, implants, and surgical supplies at significantly subsidized prices.
- This initiative is designed to benefit a wide audience, including SECL employees, the general public, and particularly residents of tribal and rural areas within the coal belt.
- The expansion of AMRIT pharmacies ensures improved access to affordable medicines for communities in some of India's most underserved regions.
- Alongside the new pharmacy, SECL operates three additional pharmacies located in Central Hospitals in Gevra (Korba district, CG), Sohagpur (Shahdol district, MP), and Chirimiri (Manendragarh-Chirimiri-Bharatpur district, CG).
- These facilities provide essential medications for common and critical health conditions, such as cancer and cardiovascular diseases, all under one roof.
Dr. Jitendra Singh Launches India’s First Self-Powered Indoor Air Quality Monitoring Facility at Airport.
- Dr. Jitendra Singh, Union Minister of State for Science and Technology, has officially unveiled Pavana Chitra, India’s pioneering self-powered indoor air quality monitoring facility at Thiruvananthapuram International Airport.
- This innovative facility represents a unique blend of technology, tradition, and art, utilizing indigenous solar cells developed by CSIR-NIIST.
- Pavana Chitra is designed to be an off-grid system, harnessing solar energy from locally sourced materials to create an efficient air quality monitor.
- Its design mimics the natural process of photosynthesis, reflecting a commitment to sustainable technology and environmental health.
- This state-of-the-art facility will significantly enhance air quality monitoring at the airport, ensuring a healthier environment for travelers and staff alike.
- By integrating cutting-edge technology with local resources, Pavana Chitra sets a benchmark for future innovations in indoor air quality management across India.
Supreme Court of India Redefines 'Lady Justice' with New Symbolism.
- The Supreme Court of India has introduced a redesigned Lady Justice statue, symbolizing a progressive shift from its colonial heritage.
- Traditionally represented with a blindfold and a sword, the new statue portrays Lady Justice with open eyes, emphasizing transparency and awareness in the judicial process.
- In this reimagining, the sword has been replaced by the Constitution of India, signifying the judiciary's dedication to upholding constitutional values and ensuring justice for all.
- This transformation reflects a commitment to a justice system that recognizes and respects the rights of every individual, embodying the principle that justice should be equitable and accessible.
- This significant update not only enhances the visual representation of justice in India but also reinforces the Supreme Court's role in fostering a fair and just legal environment for all citizens.
NITI Aayog Hosts International Methanol Seminar and Expo 2024 in New Delhi.
- NITI Aayog recently organized a two-day International Methanol Seminar and Expo 2024 in New Delhi, in collaboration with the Methanol Institute of the United States.
- This event showcased significant advancements in methanol production, applications, and research and development initiatives globally.
Key Focus on Methanol’s Role in Energy Transition
- The seminar emphasized the crucial role of methanol in the global energy transition, particularly highlighting its potential as a low-carbon fuel for green shipping.
- Participants discussed innovative projects and products aimed at promoting methanol as a sustainable energy source, aligning with global efforts to reduce carbon emissions and enhance energy efficiency.
Banking and Financial
PFC Infra Finance IFSC Ltd Receives Approval to Operate in GIFT City.
- PFC Infra Finance IFSC Limited (PIFIL), a subsidiary of Power Finance Corporation Limited (PFC), has been granted approval by the International Financial Services Centres Authority (IFSCA) to operate as a finance company in GIFT City, Gujarat.
- This makes PIFIL the first finance company in the International Financial Services Centre (IFSC) dedicated to lending specifically for the power and infrastructure sectors.
- The company aims to provide financial services in both India and international markets, facilitating foreign currency lending to government and private players.
- The establishment of PIFIL is expected to bolster PFC’s global brand presence and enhance India’s status as a significant player in the global financial landscape.
Appointments
Omar Abdullah Sworn in as Chief Minister of Jammu & Kashmir.
- Omar Abdullah of the National Conference party has been officially sworn in as the Chief Minister of Jammu and Kashmir.
- This marks his return to the role, having previously served from January 2009 to January 2014.
- The swearing-in ceremony also included the appointment of five ministers—four from the National Conference and one independent.
- Surinder Kumar Choudhary, the National Conference MLA from Jammu, has been appointed as Deputy Chief Minister.
- This development comes after the President's rule in Jammu and Kashmir was lifted, ending a six-year period of direct governance by the central government.
- Abdullah’s leadership aims to address the region's challenges and promote development in this Union Territory.
Nayab Singh Saini Sworn in as Chief Minister of Haryana for Second Consecutive Term.
- Nayab Singh Saini of the Bharatiya Janata Party (BJP) has been sworn in as the Chief Minister of Haryana for the second consecutive time.
- The oath-taking ceremony took place in Panchkula, where Haryana Governor Bandaru Dattatreya administered the oath to Saini and his 13 ministers.
- Saini first assumed the role of Chief Minister on March 12, 2024, following the resignation of former Chief Minister Manohar Lal Khattar, who was the first Chief Minister of Haryana from the BJP.
- The BJP has successfully maintained its decade-long governance in Haryana, achieving a third consecutive victory in the 2024 Assembly elections by securing 48 out of 90 seats in the Haryana Legislative Assembly.
Key Facts About Haryana:
- Capital: Chandigarh
- Current Chief Minister: Nayab Singh Saini (11th)
- Governor: Bandaru Dattatreya
- Total Legislative Assembly Seats: 90
CJI Dhananjaya Y Chandrachud Nominates Justice Sanjiv Khanna as Successor.
- Justice Dhananjaya Y Chandrachud has formally recommended Justice Sanjiv Khanna, the senior-most judge of the Supreme Court, as his successor to the Union government.
- Justice Khanna is set to take over as the Chief Justice of India (CJI) on November 11, following Justice Chandrachud’s retirement on November 10.
- Justice Khanna will become the 51st CJI and is expected to serve until his retirement on May 13, 2025, providing him with a tenure of approximately six months.
- Under the current Memorandum of Procedure (MoP), the senior-most judge deemed fit is appointed as the CJI, and Justice Khanna's nomination aligns with this tradition.
Background on Justice Sanjiv Khanna
- Justice Khanna has a distinguished legal career with extensive experience and contributions to India’s judiciary. He began his legal journey by enrolling with the Bar Council of Delhi in 1983, initially practicing at the Tis Hazari district courts before advancing to the Delhi High Court.
- He was appointed as an additional judge of the Delhi High Court in 2005, becoming a permanent judge in 2006. Throughout his career, Justice Khanna has actively participated in various judicial initiatives, including the Delhi Judicial Academy, Delhi International Arbitration Centre, and District Court Mediation Centres.
- In a notable decision earlier this year, Justice Khanna was part of a five-judge bench that declared the electoral bond scheme unconstitutional, asserting that anonymous donations through electoral bonds undermine the public's right to information—a vital element of informed voting. Additionally, he played a crucial role in upholding the abrogation of Article 370, affirming that it, while unique, did not confer sovereignty to Jammu and Kashmir.
- Justice Khanna's appointment as CJI marks a significant moment for India's judiciary, promising continued adherence to constitutional values and legal integrity.