Latest Current Affairs For Sunday 2nd April, 2023

GST revenue collection increases 13% to ₹1.60 lakh crore in March 2023

India’s GST revenue collection for March 2023 stood at 1.6 lakh crore rupees, which is 13% higher than the GST revenues in March 2022.

It is for the fourth time, in the current financial year that the gross GST collection has crossed 1.5 lakh crore rupees, since the implementation of GST.

Out of the total collection, CGST is 29,546 crore rupees, SGST is 37,314 crore rupees and IGST is 82,907 crore rupees.

The gross revenues in 2022-23 were 22% higher than in 2021-22.

Govt hikes interest rates of small savings schemes

The Government has raised interest rates on post office saving schemes for the April-June 2023 quarter.

The interest rate of the National Savings Certificate will now attract 7.7% up from 7%.

The rate for Sukanya Samriddhi has increased to 8% from 7.6%.

The interest rates for PPF and savings deposits have been retained at 7.1% and 4%.

Senior citizen savings scheme: 8.2%.

Kisan Vikas Patra (KVP): 7.5%

KVP will now mature in 115 months as against 120 months earlier.

Fino Payments Bank and Rajasthan Royals ties up for Digital Banking Partner

Fino Payments Bank has renewed its association with Rajasthan Royals (RR) for Season 16 of the Indian premier cricket competition, IPL.

Fino Bank will be RR’s official digital banking partner.

The bank made its maiden foray with the mega sporting event last season by partnering with RR as the digital payments partner.

The newly launched FinoPay digital savings account is expected to get more traction through this engagement.

India's unemployment rate rises to 3-month high of 7.8% in March 2023

According to the data from the Centre for Monitoring Indian Economy (CMIE), India's unemployment rate increased to 7.8% in March 2023.

The unemployment rate in the country surged in December 2022 to 8.30% but declined in January to 7.14%.

It edged up again in February 2023 to 7.45%.

In March 2023, the unemployment rate in urban areas of India reached 8.4%, while in rural areas it stood at 7.5%.

In March 2023, unemployment was the highest in Haryana at 26.8%.

NASA appoints Indian-origin Amit Kshatriya to head 'Moon To Mars' Programme

Amit Kshatriya, an Indian-American software and robotics engineer was appointed as the first head of NASA's Moon to Mars Programme, with immediate effect.

The new office aims to carry out the agency’s human exploration activities on the Moon and Mars for the benefit of humanity.

He will be responsible for planning and executing human missions to these celestial bodies for the betterment of humanity.

NASA Administrator: Bill Nelson

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.