Current Affairs One - Liner : 8th August 2024

• National:
• The Ministry of Women and Child Development has reconstituted the Executive Council (EC) and General Body (GB) of the National Institute of Public Cooperation and Child Development (NIPCCD) after over five decades. The General Body now has 22 members, down from 94, and the Executive Council has 13 members, reduced from 21. This change aims to streamline operations and enhance efficiency.

• The Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM) has launched the “Million Designers, Billion Dreams” initiative with LEAP. This program aims to empower rural leaders and entrepreneurs with systems design knowledge to tackle societal challenges. It focuses on enhancing design skills, promoting collaboration, and fostering innovation to drive sustainable development and economic growth in rural India.
• Coal India Limited (CIL) and GAIL (India) Limited signed a joint venture agreement on August 5, 2024, to set up a Coal to Synthetic Natural Gas (SNG) plant in West Bengal. This project aims to convert coal into cleaner energy, contributing to India’s energy diversification efforts.
• The Maharashtra government has approved the Logistics Policy 2024, aiming to create 5 lakh job opportunities by developing over 200 logistics parks and hubs. This policy focuses on enhancing the state’s logistics infrastructure and reducing logistics costs.
• Purandar Highlands Farmers Producer Company Ltd has achieved a significant milestone by exporting India's first GI-tagged fig juice to Poland. This follows the successful export of India's first commercial consignment of GI-tagged Purandar figs to Hong Kong in February 2023.
• The central government has proposed an amendment to the Finance Bill, 2024. This amendment aims to provide significant relief on capital gains tax for property transactions. Specifically, taxpayers involved in property transactions can now avail a lower tax rate of 12%.
• The Indian government will allow up to 35% bio-bitumen mixing to reduce foreign exchange outflows by around ₹10,000 crore. This eco-friendly initiative, led by Nitin Gadkari, aims to cut dependence on imported petroleum-based bitumen and reduce air pollution from stubble burning. It also promises economic benefits for farmers and MSMEs.
• The government introduced the Waqf (Amendment) Bill, 2024, in the Lok Sabha on August 8, 2024. The bill proposes significant changes to the Waqf Act, of 1995, aiming to enhance transparency and efficiency in the management of Waqf properties.
• Banking:
• Fourth Partner Energy Ltd (FPEL) secured significant funding of USD 275 million from a consortium comprising the International Finance Corporation (IFC), Asian Development Bank (ADB), and DEG on August 6, 2024. This investment aims to bolster FPEL’s renewable energy projects, particularly in expanding solar energy infrastructure across India.
• SBI General Insurance and HSBC India have partnered to offer SBI General’s non-life insurance products through HSBC’s network. This bancassurance collaboration aims to provide comprehensive financial solutions, including health, property, motor, and travel insurance, to HSBC India’s customers.
• Muthoot Capital Services has partnered with a UK-based Development Financial Institution to raise INR 100 crores for its electric vehicle (EV) portfolio. This collaboration aims to promote sustainable mobility solutions in India, focusing on semi-urban and rural markets. The initiative is expected to significantly boost Muthoot Capital’s EV book by INR 200 crores during FY25.
• Sports:
• India won the CAVA Women’s Volleyball Nations League title for the second time on August 7, 2024. The final match took place at the Dasharath Stadium in Kathmandu, Nepal. It was an exciting match where India triumphed over the host nation Nepal with a score of 3-2 sets.
• Defence:
• On August 8, 2024, Indian Navy Chief Admiral Dinesh K Tripathi unveiled the strategic document “CNS Course to Steer-2024 (CTS-2024)”. This vision aims to create a combat-ready, credible, cohesive, and future-ready Navy to support the development of “Viksit Bharat”.
• Obituaries:
• Buddhadeb Bhattacharjee, the former Chief Minister of West Bengal, passed away on August 8, 2024, at the age of 80. He had been suffering from chronic obstructive pulmonary disease for several years.
• Tsung-Dao Lee, the Nobel Prize-winning physicist known for his discovery of parity violation in weak interactions, passed away on August 4, 2024, at the age of 97. His contributions to particle physics have left a lasting legacy.

Questions:

1 Which program has partnered with the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM) for the "Million Designers, Billion Dreams" initiative?

• A) Pradhan Mantri Gram Sadak Yojana (PMGSY)
• B) Skill Development Mission
• C) LEAP
• D) National Rural Employment Guarantee Act (NREGA)

Answer: C) The Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM) has launched the “Million Designers, Billion Dreams” initiative with LEAP.

2 How many times has India won the CAVA Women’s Volleyball Nations League title?

• A) Once
• B) Twice
• C) Three times
• D) Four times

Answer: B) India won the CAVA Women’s Volleyball Nations League title for the second time on August 7, 2024.