Current Affairs One - Liner : 3rd January 2025

On January 1, 2025, Chhattisgarh became the first state to link its forest ecosystem services to Green GDP. This initiative aims to highlight the environmental contributions of forests, such as clean air and water conservation, and integrate them into the state's economic planning.

Romania and Bulgaria officially joined the European Union’s Schengen area on January 1, 2025. This marks the end of a 13-year wait, allowing unrestricted travel across land borders with other Schengen countries.
Starting January 1, 2025, Russia introduced a tourist tax of 1% on accommodation costs, increasing to 3% by 2027. This tax replaces the previous resort fee and aims to enhance regional tourism infrastructure. The minimum daily charge is 100 rubles (approximately $0.9 USD).

Vehicle retail sales in India increased by 9% in 2024, reaching a record 26 million units. The growth was driven by higher private consumption, increased disposable incomes, and strong demand for SUVs and electric vehicles (EVs). The passenger vehicle market saw sales hitting 43 lakh units, marking a historic milestone.

The Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum of Understanding (MoU) with the Startup Policy Forum (SPF) on January 3, 2025. This partnership aims to establish India as a global hub for innovation and entrepreneurship by fostering collaborations, showcasing innovations, and connecting global investors with Indian startups.

On January 2, 2025, IIT Bombay announced the development of bacteria to combat soil pollution and boost agriculture. These bacteria break down pollutants and release essential nutrients, improving soil health. This innovation increases crop yields by 45-50% and reduces reliance on chemical pesticides.

On January 2, 2025, the "Textile & Apparel Trade 360° Report 2024" by Groyyo revealed that India holds a 3.9% share in global trade for textiles and apparel, making it the sixth-largest exporter. This sector contributes 8.21% to India's total exports.
Union Minister of Commerce and Industry, Shri Piyush Goyal, unveiled the Logistics Ease Across Different States (LEADS) 2024 report on January 3, 2025. The report evaluates logistics performance across four key pillars. Thirteen states and Union Territories, including Gujarat, Karnataka, and Maharashtra, were recognized as 'achievers' for their excellence in logistics.

The Department of Financial Services (DFS) Secretary, M. Nagaraju, launched the revamped 'BAANKNET' e-auction portal on January 3, 2025. This platform consolidates e-auction property information from all Public Sector Banks (PSBs), providing a one-stop destination for buyers and investors. The portal aims to enhance transparency and efficiency in property auctions.

The Ministry of Commerce and Industry has formed a working group to revise the base year for the Wholesale Price Index (WPI) from 2011-12 to 2022-23. Chaired by Prof. Ramesh Chand of NITI Aayog, the group includes representatives from various government departments and non-official experts.

Savitribai Phule Jayanti is observed on January 3rd each year, honoring India's first female teacher and social reformer. In 2025, it will be celebrated on January 3rd. The day recognizes her contributions to education and women's rights.
International Mind-Body Wellness Day is observed annually on January 3rd, emphasizing the connection between mental and physical health. The theme for 2025 is "Harmony in Mind, Body & Home", promoting balanced well-being through mindfulness, meditation, and self-care.

Renowned botanist KS Manilal, aged 86, passed away on January 1, 2025. He was celebrated for his translation of Hortus Malabaricus into English and Malayalam. A Padma Shri awardee, Manilal discovered 19 new plant species.

Questions:

1 What is the primary purpose of the 'BAANKNET' e-auction portal?

A) To provide loans to investors
B) To consolidate e-auction property information from Public Sector Banks (PSBs)
C) To monitor banking transactions
D) To facilitate financial literacy programs

2 What was the total vehicle retail sales in India in 2024?