Current Affairs One - Liner : 16th February 2024

• National:
• REC Limited and Damodar Valley Corporation (DVC) signed agreements totaling ₹588 crore on February 14, 2024. The aim is to enhance infrastructure and energy projects in the Damodar Valley. This collaboration is part of their commitment to promoting sustainable development and innovation in the energy sector.

• The Chief Minister of Goa presented a budget of Rs 26,850.56 crore for FY25 with no new taxes. The focus is improving infrastructure to boost tourism, IT, and employment. The total estimated income for FY25 is Rs 26,465.02 crores and the anticipated expenditure is Rs 26,850.56 crores. The projected revenue surplus for FY25 is Rs 1704.19 crores. The Fiscal Deficit for FY25 is projected to be Rs 3,149.46 crores.
• The Kalughat Inland Waterways Transport (IWT) Terminal in Saran district, Bihar, was indeed inaugurated by the Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal on 15th February 2024. This terminal is expected to serve as a key link for cargo movement, particularly for Nepal-bound shipments.
• On 16th February 2024, Prime Minister Narendra Modi addressed the “Viksit Bharat Viksit Rajasthan” programme via video conference. He inaugurated and laid the foundation stone of multiple development projects worth over Rs 17,000 crore. These projects span various sectors including roads, railways, solar energy, power transmission, drinking water, and petroleum and natural gas.
• Union Minister Pashupati Kumar Paras inaugurated “SUFALAM: Start-Up Forum for Aspiring Leaders and Mentors Startup Conclave 2024” on February 13, 2024. The event aimed to catalyze innovation and growth in the food processing industry. It included knowledge sessions, pitching sessions, and an exhibition. Over 250 stakeholders participated, including startups, MSMEs, financial institutions, venture capitalists, and academia.
• International:
• Japan has recently slipped into a recession and lost its position as the world’s third-largest economy. This is due to a weak yen and an ageing population. Germany has now overtaken Japan to become the world’s third-largest economy. The shift in rankings is attributed to the yen’s sharp falls against the dollar over the past two years. This economic situation has led to calls for structural reforms in Japan.
• Indonesia, the world’s third-largest democracy, held its largest single-day election on February 14, 2024. Over 200 million voters participated to determine the successor to President Joko Widodo. The main contenders were Defence Minister Prabowo Subianto, former Central Java governor Ganjar Pranowo, and former Jakarta governor Anies Baswedan. A run-off was planned for June 26 if no candidate surpassed the 50% threshold.
• Banking:
• Mirae Asset Mutual Fund has launched two passive smallcap funds: the Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF and the Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund. These are India’s first multi-factor-based ETFs on the Nifty Smallcap250 Index. The NFO for the ETF opened on February 12, 2024, and closed on February 21, 2024, while the Fund of Fund opened on February 15, 2024, and will close on February 28, 2024.
• On 13th February 2024, the Competition Commission of India (CCI) approved Matrix Pharma’s acquisition of 100% equity shares of Tianish Laboratories. Matrix Pharma doesn’t currently have any business activity, while Tianish Laboratories manufactures and sells active pharmaceutical ingredients in India.
• Economy:
• The Wholesale Price Index (WPI)-based inflation did ease to a three-month low of 0.27% in January. This was mainly due to a moderation in food prices, including vegetables. Sequentially, the wholesale price index was down 0.3%, with the food index declining 1% and manufactured products continuing its deflation for a second consecutive month. Prices of manufactured products in January were down 1% sequentially as well.
• In January 2024, India’s merchandise exports experienced a growth of 3.12%, reaching $36.92 billion, compared to $35.80 billion in the same month last year. This growth occurred despite global headwinds and geopolitical uncertainties. The main drivers of this growth include Petroleum Products, Engineering Goods, Iron Ore, Electronic Goods, Drugs & Pharmaceuticals, etc.
• Govt. Schemes:

• The Indian government launched the realigned Animal Husbandry Infrastructure Development Fund (AHIDF) Scheme on 14th February 2024. The scheme, with an increased outlay of ₹ 29,610 crore, aims to boost the livestock sector infrastructure. It offers Dairy Cooperatives a higher interest subvention and Credit Guarantee support. The scheme will be implemented for three years until 2025-26.

• Summits & Conferences:
• The Ministry of Electronics and Information Technology (MeitY) organized the first-ever Future Skills Summit in Guwahati on February 15, 2024. The summit's theme was “Catalyzing future-ready talent for India & the World”. It aimed to discuss the impact of rapid digitization and the emergence of opportunities in next-gen technologies like AI, ML, Semiconductors, Robotics, and Cybersecurity. The summit was inaugurated by Union Minister Shri Rajeev Chandrasekhar and attended by over 1,000 guests including industry leaders and academia.
• Sports:
• Indian off-spinner Ravichandran Ashwin reached the milestone of 500 Test wickets on February 16, 2024, during a match against England. He is the second Indian and ninth overall to achieve this feat.
• Important Days:
• World Hippo Day is indeed celebrated on February 15th. This day is dedicated to raising awareness about the extraordinary hippopotamus and encouraging people to take action to prevent its extinction.
• Awards & Honours:
• On February 14, 2024, the South Indian Bank was awarded the ‘Best Technology Bank of the Year’ at the 19th IBA Annual Banking Technology Conference, Expo, & Citations. They also won in several other categories.
• Appointments:
• Pranam Wahi, with over 40 years of banking experience, has been appointed as an additional independent director of Axis Bank for a period of four years, effective from February 15, 2024. This appointment is subject to the approval of shareholders.
• Nikhil Joshi, with over 25 years of industry experience, was appointed as the Managing Director of Boeing Defence India (BDI) on February 15, 2024. He will focus on enhancing mission readiness and modernization of India’s defence forces.

Questions:

Q.1 Who organized the first-ever Future Skills Summit?
a. Ministry of Human Resource Development
b. Ministry of Electronics and Information Technology (MeitY)
c. Ministry of Science and Technology
d. Ministry of Skill Development and Entrepreneurship
Q.2 Who was appointed as the Managing Director of Boeing Defence India (BDI) on February 15, 2024?
a. Nikhil Joshi
b. Ravi Shankar
c. Anand Mahindra
d. Mukesh Ambani