Latest Current Affairs For Friday 3rd March, 2023

Hekani Jakhalu becomes first woman MLA in Nagaland history

Hekani Jakhalu of the Nationalist Democratic Progressive Party (NDPP) has created history by becoming the first woman MLA of the Nagaland Assembly.

She was announced the winner from the Dimapur-III constituency in the 2023 Nagaland Assembly elections.

She defeated Azheto Zhimomi of LJP (Ram Vilas) by 1,536 votes.

Of 31,874 votes counted in the constituency, she received 45.16% of the votes, just ahead of the LJP (RV)’s Azheto Zhimomi who received 40.34% votes.

February GST collection at Rs 1.50 lakh crore, up 12% YoY

According to the Finance Ministry, the government collected Rs 1,49,577 crore as gross goods and service tax (GST) revenue in the month of February 2023.

This amount was increased by around 12% on an annual basis (YoY).

India's GST revenue in February 2022 was Rs 1,33,026 crore.

Of the total revenue collected, CGST is Rs 27,662 crore, SGST is Rs 34,915 crore, IGST is Rs 75,069 crore while cess is Rs 11,931 crore (including Rs 792 crore collected on import of goods).

Moody’s raises GDP growth forecast for India to 5.5% in 2023

Global rating firm Moody’s Investors Services has raised the growth projection of India to 5.5% in 2023 from the earlier projection of 4.8 percent in November 2022.

Moody's also projected the growth of India at 6.5% in 2024.

According to Moody’s projection, India’s growth rate in 2023 is the highest among G20 countries.

It is followed by China (5 %) and Indonesia (4.8%).

The US is expected to grow by 0.9%, the Euro area by 0.5%, Japan by 1.5%, and the UK (-0.4%).

Government e-Marketplace (GeM) commemorates the success of “SWAYATT”

Government eMarketplace (GeM) has commemorated the success of “SWAYATT” initiative.

This initiative aims to promote Startups, Women, and Youth Advantage Through eTransactions (SWAYATT) on GeM.

It was established by GeM in February 2019.

Goal: To stimulate the inclusion of diverse categories of sellers and service providers on the portal.

It was achieved by taking aggressive measures to simplify their training and registrations.

GeM CEO: P.K. Singh

Bajaj Finserv gets nod from Sebi to launch mutual fund business

Bajaj Finserv Ltd has received the final registration from SEBI to commence its mutual fund operations under Bajaj Finserv Mutual Fund.

Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset Management Ltd (BFAML) as the Investment Manager, will soon offer a range of mutual fund products.

The products include equity, debt, and hybrid funds, both in the active and passive segments, for investors.

BFAML CEO: Ganesh Mohan

Bajaj Finserv Chairman: Sanjiv Bajaj

Pakistan PM appoints first Ambassador for Kartarpur Corridor

Pakistan Prime Minister, Shehbaz Sharif has appointed Sardar Ramesh Singh Arora as the Ambassador-at-Large for Kartarpur Corridor.

This appointment is part of efforts to attract Sikh pilgrims from across the world.

He hails from Kartarpur in Narowal.

He is also the central general secretary of the Pakistan Muslim League (N) minorities wing.

This corridor links Gurdwara Darbar Sahib in Pakistan with the Dera Baba Nanak shrine in Gurdaspur district, Punjab, India.

Asia's longest ever cycle race flagged off from Srinagar, J&K

Asia's longest-ever cycle race was flagged off from Bakshi Stadium in Srinagar (J&K) and will culminate at Kanyakumari (Tamil Nadu).

The race will cover the longest highway, National Highway-44 distance of 3651 kilometers, passing through twelve major states, three major metropolitan cities, and over twenty major cities of the country.

It has been accorded the status of Asian Ultracycling Championship by the World Ultracycling Association.

Agri Minister Narendra Singh Tomar inaugurates Pusa Krishi Vigyan Mela

Agriculture and Farmers Welfare Minister Narendra Singh Tomar has inaugurated the three-day-long Pusa Krishi Vigyan Mela in New Delhi.

It is being organized with the theme Nutrition, Food, and Environmental Protection with Shree Anna.

The event also conducts technical sessions on contemporary issues in Agriculture, including the development of Shree Anna-based value chain, Smart Farming Model, Sustainable Agriculture, and Farmer Producer Organisations.

Govt approves contract with L&T for acquisition of 3 cadet training ships

The Indian govt has approved the signing contract with Larsen and Toubro Limited for the acquisition of three Cadet Training Ships.

The delivery of these indigenously designed, developed, and constructed ships are scheduled to commence in 2026.

These ships can use to train the officer cadets at sea and can be deployed for the evacuation of people.

They can also train cadets from friendly countries to strengthen diplomatic relations.

Cost: 3,108 crore rupees (Overall)

Govt approves procurement of 70 HTT-40 Basic Trainer Aircraft for IAF

The Indian government has approved the procurement of 70 HTT-40 Basic Trainer Aircraft from Hindustan Aeronautics Limited (HAL) for the Indian Air Force.

Reason: It will meet the shortage of basic trainer aircraft of IAF for the training of newly inducted pilots.

The HTT-40 is a turboprop aircraft designed to have good low-speed handling qualities and provide better training effectiveness.

The aircraft will be supplied over six years.

Cost: 6,828 crore rupees

UAE: World’s first free zone for digital and virtual asset companies

The government of Ras Al Khaimah, one of the seven emirates of the United Arab Emirates (UAE), plans to establish RAK Digital Assets Oasis.

This announcement was made at the Blockchain Life 2023 conference.

It would be the world's first free zone dedicated to digital and virtual asset companies.

This would be a purpose-built, proper innovation-enabling free zone for non-regulated activities in the virtual assets sector.

UAE Capital: Abu Dhabi; 

UAE Currency: Dirham

Bola Tinubu wins the Nigeria's presidential election

The ruling party candidate, Bola Tinubu (70) has defeated vice president Atiku Abubakar (opposition People’s Democratic Party) to win the disputed presidential election in Nigeria.

He received 37%, Atiku Abubakar polled 29%, and Labour's candidate Peter Obi received 25% of the vote.

The opposition parties dismissed the poll as a sham and demanded a rerun.

He will become Nigeria’s fifth elected president since 1999.

Nigeria Capital: Abuja;

Currency: Naira

Vinod Kumar Shukla wins PEN/Nabokov Lifetime Achievement Award 2023

Hindi writer Vinod Kumar Shukla (87) has won the 2023 PEN America award for lifetime achievement in literature.

It is one of the most coveted literary prizes worldwide.

His acclaimed novels like Naukar Ki Kameez (1979) and poetry collections like Sab Kuch Hona Bacha Rahega (1992).

He was awarded the Sahitya Akademi award in 1999 for Naukar Ki Kameez, the Atta Galatta-Bangalore Literature Festival Book Prize in 2019, and the Mathrubhumi Book of the Year award in 2020.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.