Latest Current Affairs For Sunday 12th March, 2023

Thomas A Sangma Elected as Speaker of Meghalaya Legislative Assembly

On 10 March 2023, Thomas A. Sangma, Member (MLA) of the North Tura Legislative Assembly of Meghalaya was elected as the Speaker of the 11th Legislative Assembly of Meghalaya.

News Overview:

Thomas A. Sangma of the National People's Party (NPP) was unanimously elected as no other candidate had filed his nomination for the post of Speaker.

Sangma replaced Metbah Lyngdoh (United Democratic Party).

Chief Minister Konrad K. Sangma's Meghalaya Democratic Alliance (MDA) government has the support of 45 MLAs.

About Thomas A Sangma:

Thomas A. Sangma is an Indian politician from Meghalaya and a member of the National People's Party.

He was elected to the Rajya Sabha, the upper house of the Parliament of India, for the term 2008–2014 from the Nationalist Congress Party.

About Conrad Kongkal Sangma:

Conrad Kongkal Sangma is an Indian politician from the state of Meghalaya and is currently the Chief Minister of the state.

He took oath as Chief Minister for the second time on March 7, 2023.

Conrad Kongkal Sangma is the son of former Lok Sabha Speaker PA Sangma.

In 2008, Conrad also became the youngest Finance Minister of Meghalaya.

About Meghalaya:

It is a state in Northeast India.

Capital - Shillong

Governor -Fagu Chauhan

Chief Minister -Konrad Sangma

Anurag Singh Thakur inaugurates Youth-20 Consultation series in Pune

Union Minister for Youth Affairs Anurag Singh Thakur inaugurated the fourth Y20 consultation meeting in Pune on 11 March.

An overview of the news:

The Y20 Summit presents a unique platform for young minds to share their vision, values and ideas and develop solutions and recommendations that will be presented to the G20 leadership.

The aim of the summit is for youth to be heard and actively shape the global agenda.

Active participation of the young minds present at the event will lead to a deeper understanding of the challenges facing society and humanity and ways to solve them at the Y20 discussion platform.

About Youth 20 (Y20):

Youth 20 (Y20) is the official youth engagement group of the G20.

It provides a platform for youth to express their vision and views on G20 priorities.

It is a process that brings together young leaders from around the world to discuss and debate global challenges.

The list of policy recommendations is known as a communiqué, which is publicly announced at the Y20 summit and presented to world leaders as part of the official G20 Summit. 

India-US 5th Commercial Dialogue meeting held in New Delhi

The India-US Fifth Commercial Dialogue meeting was held in New Delhi on 10 March. 

An overview of the news:

The meeting was attended by Union Commerce and Industry Minister Piyush Goyal and US Commerce Secretary Gina Raimondo.

The two leaders acknowledged that bilateral goods and services trade is set to almost double since 2014, surpassing a recorded US$ 191 billion in 2022.

Both sides welcomed the steps taken to enhance their commercial cooperation and tap the market potential in several sectors.

Both sides welcomed the efforts being made to enable an environment for investment by small and medium-sized industries and startups.

Both ministers recognized that small businesses and entrepreneurs are the lifeblood of the US and Indian economies.

In this context, both sides announced the launch of a new working group on talent, innovation and inclusive growth under the Commercial Dialogue.

It will take forward cooperation on start-ups, SMEs, skill development and entrepreneurship, including digital and emerging technologies.

An MoU was signed between the two countries on establishing a semiconductor supply chain and innovation partnership under the framework of the Indo-US Commercial Dialogue.

India-US Commercial Dialogue:

It aims to facilitate trade and maximize investment opportunities in a wide range of economic sectors.

The last India-US commercial dialogue was held in February 2019.

Since then, it could not be held due to the pandemic and other factors.

After a gap of three years, it is proposed to relaunch the commercial dialogue with a strategic approach with a focus on supply chain resilience and diversification and new emerging sectors.

India- US trade relation:

According to the Ministry of Commerce and Industry, India is the ninth largest trading partner for the US, while the US is India's largest trading partner and largest export destination.

During the calendar year 2022, bilateral trade in goods is expected to increase significantly, crossing USD 131 billion, thus doubling from 2014 (in 8 years).

The US is also the third largest source of foreign direct investment (FDI) for India, and the US is among the top five investment destinations for India.

Indonesia moves capital from Jakarta to Borneo

Recently, the Indonesian government unveiled the site of the country's new capital.

An overview of the news:

The new capital, Nusantara, is located in the East Kalimantan province of Borneo, Indonesia.

The new capital city of the country will be called Nusantara.

The new capital will be asustainable forest city which will be developed keeping in mind the environment and will aim to achieve zero carbon emissions by the year 2045.

Why is Indonesia moving its capital?

Jakarta, the capital of Indonesia, has a population of about 10 million and three times the population of the greater metropolitan area.

It has been described as the world's fastest-sinking city and at the current rate it is estimated that a third of the city could be submerged by 2050.

The main reason for this is uncontrolled groundwater extraction, but the rising Java Sea due to climate change has increased this possibility.

Its air and groundwater are highly polluted, it floods regularly and its streets are so congested that its estimated congestion costs the economy $4.5 billion a year.

In view of all these problems, President Joko Widodo has envisioned the construction of a new capital, so that the country can have a "sustainable city".

About Indonesia:

It was earlier known as Dutch East Indies (Netherland East Indies) and it became Independent from the Netherlands on 17 August 1945.

It is the world's largest archipelago consisting of 17,500 islands.

Borneo island of Indonesia is the third largest island in the world after Greenland and New Guinea.

There are more than 100 active volcanoes in the country and the most famous being Krakatoa and Mount Merapi.

It has the world’s largest muslim population.

Capital : Jakarta

Currency : Rupiah

President : Joko Widodo

British Architect David Chipperfield Wins 2023 Pritzker Prize

British architect Sir David Chipperfield has won the 2023 Pritzker Architecture Prize.

An overview of the news:

He is a civic architect and urban planner with an extensive work plan of projects built across 3 continents.

David Chipperfield is the 52nd winner of the award, established in 1979.

Francis Kéré (Germany) was awarded the prize in 2022, and Anne Lacton (France) and Jean-Philippe Vasal (France) in 2021.

The 45th Pritzker Prize ceremony honoring David Chipperfield will be held in Athens, Greece in May 2023.

About Pritzker Architecture Prize:

It is the highest international honor for architects.

The prize was designed to honor architects for the work they built.

The prize was established in 1979 by J. A. Pritzker is funded by the Pritzker family and sponsored by the Hyatt Foundation.

Ukrainian Rights Group Truth Hounds wins Norwegian prize

Ukrainian rights group Truth Hounds, which documents war crimes in the Ukraine conflict, was on 9 March awarded Norway's Sakharov Freedom Award.

An overview of the news:

The Sakharov Freedom Award was established in 1980 with the support of Soviet scientist and Nobel Peace Prize laureate Andrei Sakharov.

The prize has been awarded to the Norwegian Helsinki Committee human rights organization Truth Hounds for "documenting war crimes and possible crimes against humanity.

Truth Hounds is a Ukrainian rights group founded during the Maidan Revolution that led to the fall of pro-Russian former Ukrainian President Viktor Yanukovych.

The award is regularly awarded to human rights defenders from the former Soviet Union.

New initiative called 'Beggar Free City' launched in Maharashtra's Nagpur

In Maharashtra, a new initiative called 'Beggar Free City' was launched in Nagpur.

News Overview:

Nagpur City Police Commissioner Amitesh Kumar said that a notice under 144 CrPC has been issued in this regard.

Notices were given to people, and chances are also not to be allowed in public places.

It is a joint venture of the Nagpur City Police and the Social Welfare Department of the Nagpur Municipal Corporation (NMC).

Nagpur Municipal Corporation (NMC) has made special arrangements in its owned shelters to restrict homeless people.

The civic bodies have also arranged a bus and an ambulance to shift the beggars caught in the police operation to their shelter homes.

About Maharashtra:

Establishment - 1st May 1960

Official Language -  Marathi

Neighbouring States - Gujarat, Madhya Pradesh, Andhra Pradesh, Karnataka, Goa, Dadra And Nagar Haveli, Chhattisgarh. 

Members of Parliament -Lok Sabaha 48 (Rajya Sabha seats 19). 

Legislature - Bicameral ( Assembly 289 and council 78 seats). 

Literacy - 82.91%

Districts - 36

Major Rivers - Tributaries of Tapti, Bhima, Godavari and Krishna. 

Capital - Mumbai. 

Population - 11.23 crore (2011 census). 

Governor - Ramesh Bais. 

Chief Minister -Eknath Shinde.

Divya Kala Mela' to be held at Bhopal Haat, Bhopal, Madhya Pradesh

Department of Empowerment of Persons with Disabilities (Divyangjan) is organizing ‘Divya Kala Mela’ from 12th to 21st March, 2023 at Bhopal Haat, Bhopal, Madhya Pradesh.

An overview of the news:

The event will be inaugurated by Hon’ble Governor of Madhya Pradesh Mangu Bhai Patel on 12Th March.

It is a unique event showcasing the products and craftsmanship of Divyang entrepreneurs/artisans from across the country.

The event will provide an exciting experience to the visitors of vibrant products from different parts of the country including Jammu & Kashmir, North Eastern States which will bring together handicrafts, handlooms, embroidery works and packaged food etc.

Around 150 Divyang artisans/artists and entrepreneurs from around 21 States/UTs will be showcasing their products and skills.

The wide range of products includes - home decor & lifestyle, clothing, stationery & eco-friendly products, packaged food & organic products, toys & gifts, personal accessories - jewelry, clutch bags etc.

It will be an opportunity for all to be 'Vocal for Local' and products made by Divyang artisans can be seen/purchased.

In December 2022, the Department of Empowerment of Persons with Disabilities organized the Divya Kala Mela at the historic Kartavya Path in New Delhi.

PNB signs MoU with Central Warehousing Corporation (CWC) to facilitate farmers' financing

On 9 March 2023 Punjab National Bank (PNB) and Central Warehousing Corporation (CWC) signed a Memorandum of Understanding (MoU) to facilitate financing undere-NWR (Electronic Negotiable Warehousing Receipt).

News Overview:

The main objective of this partnership is to provide easy finance to farmers, processors and traders against the pledge of agricultural produce stored in Central Warehousing Corporation (CWC) godowns.

About Punjab National Bank (PNB):

It is an Indian public sector bank based in New Delhi and it is the third largest public sector bank in India.

PNB has a banking subsidiary in the UK as well as branches in Dubai, Kabul, Kowloon and Hong Kong.

Established - May 1894. 

Founder - Dayal Singh Majithia, Lala Lajpat Rai.

Tagline - "The Name You Can Bank Upon".

MD & CEO -  Atul Kumar Goel. 

About Central Warehousing Corporation (CWC):

It aims to provide reliable, cost-effective, value-added, integrated warehousing and logistics services in a socially responsible and environment-friendly manner.

Established: 9 March 1957

PM Modi addresses post-budget webinar on PM Vishwakarma Kaushal Samman

Prime Minister Narendra Modi addresses the post-budget webinar on 'PM Vishwakarma Kaushal Samman (PM VIKAS)' on 11 March.

An overview of the news:

According to the Ministry of Micro, Small and Medium Enterprises, this is part of the series of 12 post-budget webinars being organized by the Government of India for ideas and suggestions for effective implementation of the initiatives announced in the Union Budget.

The Prime Minister said that through these schemes, the youth of the country are getting a lot of employment opportunities.

There is a need for a more targeted approachin the field of skill development to get better results and the PM-Vishwakarma scheme is a result of that thinking.

The objective of the PM-Vishwakarma scheme is not only to preserve the rich tradition of traditional artisans and craftsmen but also to develop them.

Now the skill infrastructure system needs to be changed according to their needs.

PM Vishwakarma Kaushal Samman Scheme:

This scheme has been announced for traditional artisans and craftsmen in the budget 2023-24.

The objective of the scheme is to improve the quality and accessibility of artisans/craftsmen by integrating them with domestic and global value chains of their products/services.

The scheme includes financial support as well as access to advanced skills, training, knowledge of modern digital technologies and efficient green technologies, brand promotion and social security.

In this scheme, more attention has been given to Scheduled Castes, Scheduled Tribes, Other Backward Classes, Women and Weaker Sections.

Under the Vishwakarma community, more than 140 castesof the country come, which cover a large population of the country.

India and Australia target $100 billion bilateral trade in next five years

Union Commerce and Industry Minister Piyush Goyal said on 11 March, Australia and India will target $100 billion trade in the next five years.

An overview of the news:

Both the countries are currently dissatisfied with the $30 billion trade.

Both countries expressed their commitment to complete negotiations to expand the scope of the existing Free Trade Agreement by the end of this year.

He was addressing the media in New Delhi on the India-Australia 18th Joint Ministerial Commission along with Australian Trade and Tourism Minister Don Farrell.

On 29 December 2022 India and Australia implemented an economic cooperation and trade agreement (ECTA).

They are now negotiating to expand its scope for a comprehensive economic cooperation agreement (CECA).

Both sides are looking at firming up the ambitious CECA by 2023.

India-Australia Trade Relations:

Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner. 

India-Australia bilateral trade in goods and services is pegged at US$ 27.5 billion in 2021.

India's merchandise exports to Australia grew by 135% between 2019 and 2021.

India’s exports to Australia- Manufactured goods such as petroleum, medicaments, diamonds, jewellery, railway coaches and vehicles, milled rice and herbicides.

India’s imports to Australia - 82% of its imports from Australia are coal, gold, copper ore, aluminum oxide, liquified natural gas, manganese ore, aluminum waste, pigments, lentils, etc.

Piyush Goyal chair meeting of National Startup Advisory Council

Union Minister of Commerce and Industry Piyush Goyal chaired the sixth meeting of the National Startup Advisory Council (NSAC) in New Delhi on 11 March.

An overview of the news:

The NSAC meeting deliberated on matters important for the development of the Indian startup ecosystem.

The meeting covered important topics like Tech Landscape and the way forward, Innovation in Logistics, Making India a Global Skill Market, Innovation Hub, Women Entrepreneurship, Capacity Building for Domestic Capital.

The meeting is expected to launch the Startup India Investor Connect portal, which has been conceptualized by NSAC and developed jointly by DPIIT and SIDBI.

About National Startup Advisory Council:

It was formed by the Department for Promotion of Industry and Internal Trade (DPIIT).

Its objective is to advise the Government on measures needed to build a strong startup ecosystem.

Composition:

Chairman- Minister for Commerce and Industry.

Convener of the Council- Joint Secretary, Department for Promotion of Industry and Internal Trade.

Ex-officio Members - Nominees of the concerned Ministries, Departments and Organisations not below the rank of Joint Secretary.

Non-Official Members - Founders of successful Startups nominated by the Government from various categories, people who have grown and expanded companies in India, persons capable of representing the interests of investors in Startups, etc.

Rohit Jawa has been appointed as the new CEO and MD of Hindustan Unilever Ltd.

On 10 March 2023, Rohit Jawa was appointed as the new Managing Director and Chief Executive Officer of the famous Fast- Moving Consumer Goods (FMCG) Company Hindustan Unilever Limited (HUL) Company.

News Overview:

Rohit Jawa will succeed Sanjiv Mehta, the current Managing Director and Chief Executive Officer (CEO), who will retire on March 30, 2023.

Rohit Jawa will also take over as President of Unilever South Asia from the current Chief of Transformation based in London.

About Hindustan Unilever Limited (HUL). 

It is a part of England's company Unilever, Unilever registered to do business in India.

67% of the dividend of Hindustan Unilever Limited goes to England.

Headquarters - London, England

Head Office in India - Mumbai

Established - 17 October 1933

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.