- National:
- Union Minister for Road Transport and Highways, Shri Nitin Gadkari, recently dedicated a significant infrastructure project to the nation in Goa. The project involves a 6-Lane access-controlled road with elevated viaducts, stretching from Manohar International Airport to Dhargal on NH-166S. The total cost of this development amounts to ₹1183 crore. The primary objectives include enhancing modern road connectivity in Goa.
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- On July 16, 2024, Union Minister Dr. Jitendra Singh inaugurated Asia’s first health research-related “Pre-clinical Network Facility” under the Coalition of Epidemic Preparedness Innovations (CEPI) at the Regional Centre of Biotechnology in Faridabad.
- The Indian Commerce Ministry has announced a cap on interest equalization for import-export codes (IEC) from July 1 to August 31, 2024. During this period, the interest equalization will be capped at Rs 1.66 crore per IEC. The scheme aims to boost outbound shipments and applies only to MSME manufacturer exporters.
- PUMA India has partnered with the Indian Olympic Association (IOA) as the official footwear partner for the Indian contingent heading to the Paris Olympics 2024. The partnership aims to provide athletes with podium and travel footwear, along with accessories designed to enhance their training and comfort during the games.
- National Robocon Championship 2024, held in New Delhi from July 12th to 14th. Organized by Doordarshan and IIT Delhi, this prestigious event brought together 69 teams from across the nation. Team Nirma’s exceptional skills, creativity, and teamwork secured their record-breaking 11th national championship title.
- Indore achieved an incredible feat by planting over 11 lakh saplings within 24 hours. This remarkable initiative, known as the “Ek Ped Maa Ke Naam” campaign, not only solidifies Indore’s reputation as India’s cleanest city but also demonstrates a strong commitment to environmental sustainability.
- The Maharashtra Special Public Security Bill, 2024 was introduced by the Maharashtra government to address Naxalism in urban areas. It aims to combat Naxal-affiliated organizations and grant powers to tackle unlawful activities related to Naxalism. If passed, it will impose imprisonment and fines for association with such organizations.
- Kharchi Puja is an annual Hindu festival celebrated in Tripura, India. It occurs on the eighth day of the new moon in either July or August. During this seven-day festival, fourteen deities are bathed in holy water at the Saidra River and then returned to the Chaturdasha Temple in Agartala.
- International:
- On July 11, 2024, during NATO’s 75th anniversary summit in Washington, France, Germany, Italy, and Poland signed a letter of intent to jointly develop ground-launched cruise missiles with a range exceeding 500 kilometers. This collaborative effort aims to address the gap in European arsenals exposed by Russia’s war in Ukraine.
- Banking:
- Jio Financial Services, the demerged entity of energy-to-telecom conglomerate Reliance Industries Ltd (RIL), has received approval from the Reserve Bank of India (RBI) to transition from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC) . As a CIC, Jio Financial Services will focus on purchasing shares and securities, subject to specific restrictions.
- Bajaj Finserv launched Savings+, a new product for retail investors. It automatically identifies surplus cash in your savings account and invests it in low-risk debt funds for potentially higher returns than a savings account. You can access your money quickly with T+1 day liquidity and instant redemption options.
- Economy:
- India shifted from being a net exporter to a net importer of steel in Q1 FY25, which covers the period from April to June 2024. During this time, finished steel imports exceeded exports by 0.6 million tonnes (mt). In comparison, the year-ago period saw India as a net exporter of steel by 0.7 mt. The rise in imports was influenced by poor global demand and competition from China, while exports continued to decline.
- External Commercial Borrowings (ECBs) funding saw a sharp decline in the first two months of FY25. Companies raised $8.296 billion, a 35% drop compared to the same period last year. This decrease could be due to factors like rising interest rates, global economic uncertainty, or changes in borrowing preferences.
- The annual rate of inflation based on the All India Wholesale Price Index (WPI) for June 2024 (over June 2023) is 3.36% (Provisional). This positive inflation rate is primarily due to increases in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, and other manufacturing components.
- India's exports soared to a record-breaking $200.3 billion in the first quarter (April-June) of FY 2024-25, surpassing the previous year's figure by $15.8 billion. This impressive performance has fueled optimism, with the government aiming for a total export value of $800 billion for the entire fiscal year. The data was released on July 15, 2024.
- Apps & Portals:
- Union Minister Jayant Chaudhary recently announced the launch of the Skill India Digital Hub (SIDH) Portal under the Ministry of Skill Development and Entrepreneurship. This comprehensive digital platform aims to provide complete information about skill development schemes, ensuring that every Indian has access to quality skill development, relevant opportunities, and entrepreneurial support.
- Awards & Honours:
- Prince Harry received the Pat Tillman Award for Service at the 2024 ESPYS. The ceremony took place on Thursday, July 11, 2024, at the Dolby Theatre in Los Angeles. His work with the Invictus Games for wounded, injured, or sick service members was recognized during the event.
Questions:
1 How much did India's exports total in the first quarter (April-June) of FY 2024-25?
- A) $180.5 billion
- B) $190.7 billion
- C) $200.3 billion
- D) $210.2 billion
2 Which team won the National Robocon Championship 2024?
- A) Team IIT Delhi
- B) Team IIT Bombay
- C) Team VIT
- D) Team Nirma
