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By admin: Oct. 9, 2023

2023 Nobel Prize in Economics awarded to Claudia Goldin

Tags: Awards

American labor economist Claudia Goldin was awarded the 2023 Nobel Prize in Economics for her significant contributions to our understanding of women's labor market outcomes.

An Overview of the News

• Hans Ellgren, Secretary General of the Royal Swedish Academy of Sciences, announced the Nobel Prize awards in Stockholm on October 9.

• Claudia Goldin, born in New York in 1946, received her PhD from the University of Chicago and is currently a professor at Harvard University in Cambridge.

• Claudia Goldin became the third woman to receive the Nobel Prize in Economics, after Elinor Ostrom (2009) and Esther Duflo (2019). 

• Claudia Goldin will receive prize money of 11 million Swedish kronor.

Last year's Nobel Prize in Economics (2022):

• In 2022, the Nobel Prize in Economics was awarded to American economists Douglas Diamond and Philip Dybvig as well as former Federal Reserve chief Ben Bernanke for their research on banks during times of financial turmoil.

History of Nobel Prize in Economics:

• The Nobel Prize in Economics was first awarded in 1969 to Ragnar Frisch and Jan Tinbergen for their work on dynamic economic models.

First Nobel Prize Winner:

• Jean Henry Dunant and Frederick Passy were the first winners of the Nobel Peace Prize in 1901.

First Indian Nobel Prize Winner:

• Rabindranath Tagore was the first Indian to receive the Nobel Prize specifically in Literature in 1913.

About Nobel Prize in Economic Sciences:

• The Nobel Prize in Economic Sciences was established in 1968 by Sveriges Riksbank, the central bank of Sweden, in memory of Alfred Nobel. It is awarded by the Royal Swedish Academy of Sciences following the same principles as the original Nobel Prizes.

Indian Nobel Prize Winners in Economics:

• Amartya Sen is the only Indian economist to receive the Nobel Memorial Prize in Economic Sciences in 1998.

• Indian-American economist Abhijit Banerjee shared the Nobel Memorial Prize in Economic Sciences in 2019 with Esther Duflo and Michael Cramer for their experimental approach to addressing global poverty.

World Post Day - 9 October

Tags: Important Days

World Post Day is celebrated every year on 9 October.

An Overview of the News

• World Post Day celebrates the establishment of the United Nations agency, the Universal Postal Union (UPU).

• The UPU was founded on October 9, 1884, in Bern, Switzerland.

• The tradition of celebrating World Post Day began in 1969 during the UPU Congress in Tokyo, Japan.

Theme of World Post Day 2023:

• The theme of World Post Day 2023 is “Together for trust: Collaborating for a safe and connected future”.

• This theme emphasizes the role of post offices in achieving the goals of the digital economy.

First postage stamp in India:

• India's first postage stamp was issued on 21 November 1947, with 'Jai Hind' and 'Bharat' written on it.

• The value of this stamp was three and a half annas or 14 paise and was used for domestic mail.

• Mahatma Gandhi had the distinction of being the first Indian to have a postage stamp issued in his name.

• Sachin Tendulkar became the first living person in India to have a postage stamp issued in his name.

History of Indian Post:

• The Indian postal system was started 257 years ago in 1766.

• In 1774, Warren Hastings established the first post office in Kolkata.

• Postage stamps in India were introduced in 1852.

• A postage stamp bearing the image of Queen Victoria on October 1, 1854 marked the establishment of the postal department in India.

• India's postal network is extensive, with 89.87% of post offices located in rural areas.

Notable stamp issues in India:

• On 20 August 1991, India issued its largest postage stamp, bearing the photograph of former Prime Minister Rajiv Gandhi.

Universal Postal Union (UPU):

• UPU is a specialized agency of the United Nations.

• Established: October 9, 1884.

• Headquarters: Bern, Switzerland.

• Current head: Masahiko Matoki.

• The UPU works under the Economic and Social Council of the United Nations.

Sagar Parikrama, Phase-9 launched in Tamil Nadu

Tags: Government Schemes

Sagar Parikrama, Phase-9 started on October 7, 2023 at Tiruvandanai, Tamil Nadu.

An Overview of the News

• Sagar Parikrama, Phase-9 program was inaugurated by Union Minister of State for Fisheries, Animal Husbandry and Dairying, Parshottam Rupala in the presence of Dr. L. Murugan, Minister of State for Fisheries, Animal Husbandry and Dairying and other dignitaries.

Inauguration of Fish Farmer Producer Cooperative Society:

• Union Minister Parshottam Rupala also inaugurated the Fish Farmers Producers Cooperative Society Limited at Manamelkudi in Pudukkottai district.

Matsya Sampada Jagrukta Abhiyan:

• Government of India launched "Matsya Sampada Jagrukta Abhiyaan" along with Sagar Parikrama, Phase-9.

• This strategic initiative aims to increase awareness among fishermen and stakeholders across the country.

About Sagar Parikrama

• Sagar Parikrama is a navigational voyage organized in all the coastal states/union territories.

• Its objectives include demonstrating solidarity with fishermen, disseminating information on fisheries-related schemes, promoting best practices and encouraging responsible fisheries.

• Sagar Parikrama focuses on connecting with fishermen at the grassroots level, understanding their challenges, promoting sustainable fishing practices and ensuring government subsidies and initiatives reach the targeted beneficiaries.

• Eight phases of Sagar Parikrama have been completed in the coastal states/UTs.

Major stages of Sagar Parikrama:

• Phase 1: Started from Mandvi, Gujarat on March 5, 2022 with the theme 'Revolution to Peace'.

• Phase 2: Covering seven locations in Gujarat and Diu and Daman from September 23 to 25, 2022.

• Phase 3: Started from Surat-Hazira port, Gujarat on February 19, 2023 and covers five locations in North Maharashtra.

Status of Fisheries in India:

• India is the second largest aquaculture fish producer globally.

• India ranks fourth in global fish exports, contributing about 7.7% of global fish production.

• India leads the world in inland fish production and ranks third in overall fish production.

• The fishing sector provides livelihood to more than 2.8 crore people in the country.

IAF Unveils New Flag on 91st Foundation Day

Tags: Defence

Chief of the Air Staff Air Chief Marshal VR Chaudhari unveiled the new flag of the Indian Air Force during the 91st Air Force Day Parade in Prayagraj on October 8, 2023.

An Overview of the News

• The theme of the 91st Air Force Day is 'IAF - Airpower Beyond Boundaries'.

Features of the new flag:

• The new flag features the national emblem Ashoka symbol prominently on the fly side, at the top right corner, just above the Air Force crest.

• 'Satyamev Jayate' is inscribed in the Devanagari script below the Ashoka symbol.

• The Himalayan Garuda with outstretched wings symbolizes the combat capabilities of the Indian Air Force.

• There is a light blue circle around the Himalayan Garuda with 'Indian Air Force' written on it.

• The motto of the Indian Air Force, 'Nabh Sprisham Deeptam', is inscribed in golden Devanagari letters below the Garuda, signifying the aspiration to "To touch the sky with splendour".

Retirement of the Old Flag:

• During the Air Force Day Parade, the 72-year-old flag was lowered with full respect.

• The retired flag will be preserved in a museum as a historical artifact.

Historical Background of Indian Air Force:

• The Indian Air Force was established on October 8, 1932, and its first flight took place on April 1, 1933.

• Subroto Mukherjee, one of the founding members, is recognized as the "Father of the Indian Air Force" and became the first Chief of the Air Staff on April 1, 1954 after India gained independence.

• The headquarters of the Indian Air Force is located in Delhi.

• Before India's independence, the force was known as the Royal Indian Air Force and was later renamed the Indian Air Force.

• The Indian Air Force has played a significant role in various wars, including the Kargil conflict in 1947, 1948, 1965, 1971 and 1999.

India finished the 19th Asian Games with 107 Medals

Tags: Sports

India finished the 19th Asian Games with a total of 107 medals: 28 gold, 38 silver and 41 bronze.

An Overview of the News

• This achievement surpassed her previous record of 70 medals at the 2018 Jakarta Asian Games.

• The first medal for India was gold, won by the men's 10m air rifle shooting team of Divyansh Panwar, Rudraksh Patil, and Aishwarya Pratap.

• The men's chess team won the 106th medal.

• The 107th medal was won by the women's chess team, comprising Koneru Humpy, Vaishali Rameshbabu, Vantika Agarwal, Savita Sri B and Harika Dronavalli.

Games Description:

• The 19th Asian Games, initially scheduled for 2022, were postponed due to COVID-19 and took place from September 23 to October 8, 2023.

• The 20th Asian Games are scheduled to be held in Aichi, Japan in 2026.

Historical Achievements:

• India won more than 100 medals for the first time in a single edition of the Asian Games, joining China, Japan and South Korea in the feat.

• The women's Kabaddi team won the 100th gold medal for India.

Gold Medals by Category:

• India won the highest number of gold medals in shooting, a total of 7.

• Athletics came second, with India winning 6 gold medals.

• In archery compound teams, both men's and women's teams won all 5 gold medals.

• India won gold in badminton at the Asian Games for the first time, with Chirag Shetty and Satwiksairaj Rankireddy winning the men's doubles event.

• Gold medals were won in both men's and women's javelin throw events. Neeraj Chopra won in the men's category while Annu Rani won in the women's category.

• India was victorious in both men's and women's cricket.

Age Records:

• Sanjana Bathula became the youngest Indian to win a medal at the Asian Games at the age of 15 years, 3 months and 11 days, earning a bronze medal in women's speed skating.

• Jaggi Shivdasani became the oldest Indian Asian Games medalist at the age of 65 years, 7 months and 20 days as part of the silver medal-winning men's bridge team.

Athletics Records:

• Vithya Ramraj equaled PT Usha's national record and won a bronze medal in the women's 400m hurdles.

• Avinash Sable creates an Asian Games record by winning a gold medal in men's 3000m steeplechase.

Shooting Records:

• Sift Kaur Samra sets world record and earns a gold medal in women's 50m rifle 3 positions final.

• The men's 10m air rifle team of Rudranksh Patil, Aishwarya Pratap Singh Tomar and Divyansh Singh created a world record by winning gold.

• In the men's 50-meter rifle 3 positions, the team of Aishwarya Pratap Singh Tomar, Swapnil Kusale and Akhil Sheoran also created a world record by winning the gold medal.

• Manu Bhaker, Isha Singh and Rhythm Sangwan created a world record and won gold medals in the women's 25m pistol.

• Palak Gulia created an Asian Games record by winning a gold medal in women's 10-meter air pistol.

• The men's trap team of Kinan Chenai, Zorawar Singh Sandhu, and Prithviraj Toindaman set an Asian Games record by earning gold.

Archery Records:

• Aditi Gopichand Swami created the Asian Games record by winning a gold medal in women's compound archery.

• Jyoti Surekha Vennam equaled the Asian Games record by winning the gold medal in women's compound archery.

Final medal tally at the Hangzhou Asian Games: