29 June 2023

UCC, Greedflation, Char Dham, Organic Intellectuals, Bald Eagle, GeM and other news..

Uniform Civil Code (UCC) in India:

UCC seeks to replace the personal laws based on the scriptures and customs of each major religious community in India with a common set of laws governing every citizen. Despite the constitutional mandate, UCC hasn't been implemented due to resistance from various religious communities and the diversity of personal laws in the country. Notable cases like Shah Bano Case 1985 and Sarla Mudgal Case 1995 underlined the need for a UCC. Prime Minister's recent address supports the idea of UCC for efficient functioning of the country.

Greedflation:

Greedflation refers to a situation where corporate greed fuels inflation. In this case, companies raise their prices excessively, beyond covering their increased costs, to maximize profits, which further fuels inflation. There is a growing consensus in developed countries that greedflation is the true culprit behind rising costs of living. In India, the exceptional post-pandemic profit generation and growth in net profit indicate the presence of greedflation.

Udyami Bharat-MSME Day 2023:

International MSME Day is observed annually on June 27 to recognize the significance of Micro, Small & Medium Enterprises and their contribution to the economy. On this day, the Ministry of MSME organized 'Udyami Bharat-MSME Day' 2023, launching various initiatives including the 'CHAMPIONS 2.0 Portal,' 'Mobile App for Geo-tagging of Cluster Projects and Technology Centers,' and 'MSME Idea Hackathon 3.0' for women entrepreneurs.

India Removed from UN's Children and Armed Conflict Report:

For the first time since 2010, India was removed from the UN's Children and Armed Conflict report. This was due to the measures taken by the Indian government to protect children, especially in the conflict-ridden regions such as Jammu and Kashmir. Steps include enforcing the Juvenile Justice Act and the Protection of Children from Sexual Offenses (POCSO) Act, implementing training programs for security forces, and suspending the use of pellet guns.

Char Dham Yatra:

The Char Dham Yatra is a sacred Hindu pilgrimage in the Indian state of Uttarakhand, visiting four shrines: Yamunotri, Gangotri, Kedarnath, and Badrinath. However, the yatra has been marred by deaths, road accidents, and landslides. The Char Dham Project is an infrastructure initiative aiming to improve connectivity and safety for the pilgrimage, and to boost tourism and employment opportunities in Uttarakhand.

Organic Intellectuals and Capitalist Hegemony: Antonio Gramsci's philosophy of praxis involves an understanding of culture, ideas, and individual choices in shaping history, unlike traditional Marxism that focuses on economic factors. Gramsci identifies two types of intellectuals: traditional intellectuals who align with the dominant class, and organic intellectuals who emerge from within specific social groups to articulate its interests. Organic intellectuals play a key role in challenging capitalist hegemony by articulating alternative forms of consciousness and culture, thereby establishing a counter-hegemonic bloc.

Bald Eagle: The bald eagle, the national bird of the US, has seen a steady increase in population since it was removed from the endangered species list in 2007. The bird is native to most of North America and has an average lifespan of 20 to 30 years. The ban on the pesticide DDT in 1972 played a crucial role in the conservation success of the bald eagle.

Government e-Marketplace (GeM): Launched in 2016 by the Indian Ministry of Commerce and Industry, GeM facilitates the online procurement of common goods and services required by various government entities. The platform provides tools such as e-bidding and reverse e-auction to ensure transparency and efficiency in public procurement.

RBI Forecasts Further Decline in Gross Non-Performing Assets (GNPAs): The Reserve Bank of India (RBI), in its Financial Stability Report (FSR) for June 2023, forecasted a decrease in the country's GNPAs for scheduled commercial banks. The GNPA, which hit a 10-year low of 3.9% in March 2023, is projected to fall to 3.6% by March 2024. This suggests a strengthening of banking and corporate sector balance sheets, as well as sustained growth in bank credit.

Indian Government Defers TCS on International Credit Card Spends under LRS The Indian government has deferred the Tax Collected at Source (TCS) on international credit card spending under the Liberalised Remittance Scheme (LRS) until October 1, 2023. The Rs 7 lakh threshold per financial year per individual for TCS on all LRS payments remains unchanged.

Canada’s Open Work Permit Stream for H-1B Visa Holders Canada plans to allow 10,000 American H-1B visa holders to work in Canada through an open work-permit stream. This is expected to benefit many Indian tech professionals affected by layoffs in the US.

India's 5G & Beyond Hackathon 2023 The Department of Telecommunications (DoT), Government of India, has announced the '5G & Beyond Hackathon 2023.' This competition seeks innovative 5G and beyond products and solutions, specifically tailored for India.

Union Cabinet Approves PM-PRANAM Scheme The Union Cabinet has approved the PM-PRANAM Scheme, aimed at incentivising states to use alternative, non-chemical fertilisers. The scheme also aims to reduce the use of chemical fertilisers and the subsidy burden associated with them.

Xu Haoliang Appointed Deputy Head of UNDP UN Secretary-General Antonio Guterres has appointed Xu Haoliang as the new Undersecretary-General and Associate Administrator of the UN Development Programme (UNDP), succeeding Usha Rao-Monari from India.

Canada's 'Digital Nomad Strategy' for Foreign Workers Canada has launched a "Digital Nomad Strategy" to attract skilled workers from around the world, especially in the tech industry. Foreign workers will be allowed to stay in Canada for up to six months under this strategy.

National Research Foundation Bill, 2023 Approved by Cabinet The Union Cabinet has approved the introduction of the National Research Foundation (NRF) Bill, 2023. The NRF will aim to foster a culture of research and innovation across universities, colleges, research institutions, and R&D laboratories in India.

Diksha Dagar Wins Second Ladies European Tour Title Indian golfer Diksha Dagar has claimed her second Ladies European Tour (LET) title at the Czech Ladies Open. This win solidifies Dagar's reputation as one of India's most promising golfers. The 22-year-old athlete from Haryana previously won her maiden LET title at the Investec South African Women's Open in 2019.

Historic Dubai Women's Kabaddi Final Dubai has hosted the world's first International Women's Kabaddi Final, marking a historic moment in the sport. The event featured the Punjab Panthers and Uma Kolkata, with Uma Kolkata emerging as champions and winning a grand prize of ₹10,000,000. The tournament served as a global platform for women Kabaddi players from India to demonstrate their skills.

MoU Between Gujarat Government and Micron technology

Gujarat Government signed a Memorandum of Understanding (MoU) with US chip maker Micron Technology. The collaboration is aimed at establishing a semiconductor assembly and testing facility in Sanand, Ahmedabad district. The initiative will be supported financially by the Central and State Government and is expected to create 5,000 direct employment opportunities.

17th Indian Cooperative Congress Prime Minister Narendra Modi will inaugurate the 17th Indian Cooperative Congress (ICC) at Pragati Maidan in New Delhi. The event, organized by the National Cooperative Union of India (NCUI), will discuss various trends in the cooperative movement and the challenges faced by the cooperative world. The two-day congress aims to connect around five crore members live.

Union Cabinet Approves Highest Ever Fair and Remunerative Price for Sugarcane Farmers The Union Cabinet has approved a fair and remunerative price of 315 rupees per quintal for sugarcane farmers for the 2023-24 season. This decision aims to benefit five crore sugarcane farmers and their dependents, as well as five lakh workers employed in the sugar mills and related ancillary activities.

National Research Foundation (NRF) Bill, 2023 The Union Cabinet has approved the National Research Foundation (NRF) Bill, 2023, which is aimed at enhancing the research ecosystem in the country. The NRF is envisioned as an apex body responsible for seeding, growing, and promoting research and development. The NRF is expected to receive a total estimated cost of 50 thousand crore rupees over the next five years.

National Statistics Day National Statistics Day is observed annually on June 29 to celebrate the contributions of Professor Prasanta Chandra Mahalanobis in the fields of statistics and economic planning. Known as the 'Father of Indian Statistics', Professor Mahalanobis developed the Mahalanobis distance, a statistical measure used to assess the difference between a point and a distribution. The theme for this year's National Statistics Day is "Aligning the State Indicator Framework with the National Indicator Framework for Monitoring the Sustainable Development Goals".