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By admin: Aug. 2, 2022

India's manufacturing PMI hits 8-month high in July

Tags: Economy/Finance

India's manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, came at an eight-month high. 

Important facts

• The S and P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 56.4 in July, from 53.9 in June.

• The survey said that this jump was driven by a significant increase in trade orders.

• The PMI data for July points to an improvement in overall operating conditions for the 13th consecutive month.

• The Indian manufacturing industry recorded a welcome combination of fast economic growth and soft inflation during July month.

• Production increased at the fastest pace since last November, a trend that corresponds to a more forward-looking indicator of new orders.

• The readings are based on a monthly survey of businesses that are primarily engaged in manufacturing activities.

• Despite the solid performance of the manufacturing industry, overall job creation remained sluggish.

• Most firms (98 per cent) opted to leave workforce numbers unchanged amid lack of pressure on operational efficiencies.

• About 96 per cent of the manufacturers expect no change in production from current levels during the coming 12 months.

What is Purchasing Managers' Index (PMI)?

• It is a measure of the prevailing direction of economic trends in manufacturing.

• It is based on a monthly survey of supply chain managers across 19 industries, covering both upstream and downstream activities.

• The price fluctuations of PMI and its components can provide useful insights to business decision makers, market analysts and investors.

• PMI is used by the central bank to set interest rates.

Purpose of PMI

• Providing information about current and future business conditions to the company's decision-makers, analysts and investors.

Calculation of PMI

• It is represented by a number from 0 to 100.

• A print above 50 indicates expansion while a score below 50 indicates contraction.

• If the previous month's PMI is higher than the current month's PMI, it shows that the economy is contracting.

Five major Survey Areas of PMI

1. Employment

2. New orders

3. Production

4. Inventory levels

5. Supplier deliveries

Culture Ministry organizes 'Tiranga Utsav' on the occasion of 146th birth anniversary of Pingali Venkaiah

Tags: National National News

Union Home Minister Amit Shah participated in the 'Tiranga Utsav' being organised by the Ministry of Culture in New Delhi on 2 August.

Important facts

• The event is being organized on the occasion of the 146th birthday of freedom fighter Pingali Venkaiah who designed the national flag and made a huge contribution to the nation.

• In this program a commemorative postage stamp was issued in his honour for his invaluable contribution to the freedom struggle and his family was honoured.

• The Home Minister launches the “Har Ghar Tiranga” anthem and video during the 'Tiranga Utsav'. 

• The program featured live performances by masters like Kailash Kher and Kailasa, Harshdeep Kaur and Dr. Ragini Makkhar.

• On the completion of 75 years of independence, the central government is running the 'Har Ghar Tiranga' campaign.

Who was Pingali Venkayya?

• He was born on August 2, 1876, at Bhatlapenumarru, near present-day Machilipatnam town in Andhra Pradesh.

• He was sent to South Africa to fight in the war as a soldier of the British Indian Army.

• He was impressed by the feeling of nationalism inspired by the Union Jack among British soldiers in South Africa.

• He was the designer of India’s national tricolour.

• In 1921, Mahatma Gandhi approved the tricolor designed by him at a meeting of the Indian National Congress in Vijayawada.

• The tricolor version presented by Venkayya to Mahatma Gandhi had two stripes (green and red) and a Gandhian spinning wheel in the centre.

• On Gandhi's suggestion, Venkayya added a white stripe at the top, and it became the original tricolor.

• This flag was used informally in all Congress meetings from 1921 onwards.

• During the Congress session of 1931, the Congress adopted the tricolor with a color scheme – saffron, white and green and the spinning wheel in the centre.

• The flag became the standard of Mahatma Gandhi's non-violent freedom movement.

• A postage stamp was issued in his honor in 2009.

• In 2014, the Vijayawada station of All India Radio (AIR) was also named after him.

• He died in 1963 in poverty and oblivion.

Al Qaeda leader Ayman al-Zawahiri killed in US drone strike

Tags: International News

U. S. President Joe Biden said on August 1 that the United States killed al-Qaeda leader Ayman al-Zawahiri in a drone air strike in Kabul.

Important facts

• The killing of Zawahiri is seen as the biggest blow to the terrorist group since its founder Osama bin Laden was killed in 2011.

• Al-Qaeda chief Ayman al-Zawahiri, an Egyptian surgeon who later became one of the world's most wanted terrorists.

• He was considered as the mastermind of the attacks on the United States of America on September 11, 2001.

• About 3 thousand people died in that terrorist attack.

• The US had placed a $25 million bounty on Zawahiri.

• The drone strike is the first known US attack inside Afghanistan since US troops and diplomats left the country in August 2021.

• Zawahiri was earlier hiding in Pakistan but after the Taliban government came to power, he reached Kabul.

Who was Ayman al-Zawahiri?

• Born into a middle-class family in Egypt, Zawahiri grew up to become a doctor.

• He graduated from Cairo University's Al Qasr Al Ain Medical School in 1974.

• Ideologically he opposed secular governments, and was arrested in 1981 after the assassination of former Egyptian President Mohamed Anwar al-Saadat for carrying weapons without a license.

• He served three years as a surgeon in the Egyptian Army. 

• In 1993, he took over the leadership of Islamic Jihad in Egypt and became a key figure in the mid-1990s campaign to overthrow the government and establish a pure Islamic state.

• He was found to be involved in the murder of more than 1,200 Egyptians.

• In 2011 he took on al-Qaeda when a team of Navy SEALs killed Osama bin Laden in Pakistan.

• He and bin Laden co-opted the 9/11 attacks and was one of America's "Most Wanted Terrorists".

• He was listed as one of the FBI's Most Wanted Terrorists, and had a $25 million reward for his capture.

UPI records 6 billion transactions in July

Tags: Economy/Finance

The Unified Payments Interface (UPI) saw over 6 billion transactions in July, the highest ever by India's leading digital payments platform since its inception in 2016.

Important facts

• According to data released by the National Payments Corporation of India (NPCI), which operates the platform, UPI handled 6.28 billion transactions totaling Rs 10.62 trillion.

• Month-on-month, the volume of transactions was up 7.16% and value increased 4.76%. 

• Year-on-year (YoY), transaction volume nearly doubled, while transaction value grew by 75%.

• UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch.

• In October 2020, the UPI processed more than 2 billion transactions.

• In the next ten months, the UPI processed 3 billion transactions.

• It took only three months for UPI to reach from 3 billion to 4 billion transactions per month.

• The incremental one billion transactions were achieved in just six months' time.

• Apart from some reduction during the first two waves of the pandemic, UPI transactions are on the rise as the economy recovers.

About UPI

• Unified Payments Interface (UPI) is a single platform that integrates various banking services and facilities under one umbrella.

• It is developed by National Payments Corporation of India (NPCI).

• The names of the top UPI apps currently are – PhonePe, Paytm, Google Pay, Amazon Pay and BHIM.

• NPCI launched UPI in 2016 with 21 member banks.

National Payments Corporation of India (NPCI)

• It is an umbrella organisation for operating retail payment and settlement systems in India.

• It has been launched by the 'Reserve Bank of India' (RBI) and 'Indian Banks' Association' (IBA) under the 'Payment and Settlement Systems Act, 2007'.

• It is a 'non-profit' company established under the provisions of section 25 of the Companies Act 1956.

• It aims to provide the infrastructure for physical and electronic payments to the entire banking system in India.

US Congress approves Chips Act to boost semiconductor production

Tags: National News

The US House of Representatives has passed the Semiconductors and Science Bill to provide $280 billion in aid and subsidies to its semiconductor industry facing competition from China.

Important facts

• The bill would provide "$52 billion of subsidies and additional tax credits" to companies making chips in the US.

• An amount of $ 200 billion has also been allocated for scientific research of artificial intelligence and other innovative technologies.

• Last year, a global shortage of semiconductors or chips led to the recognition that the US needed substantial manufacturing of its own.

• Since 2020, the increasing use of devices such as laptops in homes has further fueled its demand.

• According to a Forbes report, about 75% of the world's dependence on semiconductors is met by East Asia.

• The bill states that currently only 12% of chips are manufactured domestically, compared to 37% in 1990, and several countries, including China, are investing heavily to dominate the industry.

• The bill would reduce America's reliance on foreign sources of semiconductors and strengthen national security.

What are Semiconductor Chips?

• It is a material which has conductivity between conductor and insulator.

• Compounds of silicon or germanium or gallium, arsenide or cadmium selenide are used in this.

Why are semiconductors or chips so important?

• It serves as the centre and brain of all modern electronics and information and communication technology products.

• The chips are used as data-storing memory chips, or logic chips that run programs.

• Manufacturing of chips requires a lot of precision as well as investment.

• This requires special conditions where even small disturbances around or inside the manufacturing unit can hamper production.

Assam CM launches digital process of issuance of caste certificate for students

Tags: Government Schemes State News

Assam Chief Minister Himanta Biswa Sarma on August 1 launched 'Mission Bhumiputra', a digital way to issue digital caste certificates to students.

Important facts

• The Chief Minister inaugurated the Bhumiputra Portal in a program organized at Shrimant Sankardev Kalakshetra.

• This mission is being implemented by the Department of Tribal Affairs and Social Justice and Empowerment.

• Now the manual system of issuing caste certificates will be abolished.

• The Deputy Commissioner will give the format of applications for caste certificates to the headmasters of educational institutions from August 8.

• The Headmaster will fill the application forms and send it to the Deputy Commissioners, after which the application will be forwarded to the respective caste or tribe boards.

• Thereafter, the Deputy Commissioner will hold a meeting with the boards to decide on the protocol for issuance of caste certificates to the students.

• If any doubts arise in the process, the application may be sent for further verification.

• The certificates will be available in Digi Locker under the IT Act, digitally signed by the respective Deputy Commissioners.

• With the launch of Mission Bhumiputra, the problems people faced earlier regarding securing documents will be solved.

Amit Shah inaugurate conference on drug trafficking, national security in Chandigarh

Tags: National News

Union Home Minister Amit Shah inaugurated the “Conference on Drug Trafficking and National Security” on July 30, 2022.

Important facts

• During this conference, more than 30,000 kg of narcotic drugs were burnt and disposed of at Narcotics Control Bureau (NCB) Delhi, Kolkata, Chennai.

• NCB had launched the Drug Disposal Campaign on 1st June 2022.

• Till July 29, more than 51,217 kg of narcotics have been disposed of in 11 states.

• As a part of the 'Azadi Ka Amrit Mahotsav' celebrations, NCB has pledged to dispose of 75000 kgs of drugs.

Drug addiction in India

• India is situated between the world's two largest opium producing regions (the 'Golden Triangle' on one side and the 'Golden Crescent' on the other).

• The 'Golden Triangle' region includes Thailand, Myanmar, Vietnam and Laos.

• The 'Golden Crescent' region includes Pakistan, Afghanistan and Iran.

• According to the World Drug Report 2021, prescription drugs and their ingredients are increasingly being converted into recreational use in India (the world's largest producer of generic drugs).

• India is also linked to shipments of drugs sold in the 19 major darknet markets analysed in 2011-2020.

• According to the report released by the Ministry of Social Justice and All India Institute of Medical Sciences (AIIMS) on the quantum of substance abuse in 2019.

• There are 31 million cannabis users in India (of which 2.5 million were dependent users).

• There are 23 million opioid users in India (of which 2.8 million were dependent users).

Other Related Initiatives

• Narco-Coordination Centre- Narco-Coordination Centre (NCORD) was constituted in November 2016 and the scheme "Financial Assistance to States for Narcotics Control" was revived.

• Project Sunrise- It was launched in 2016 by the Ministry of Health and Family Welfare to tackle the rising HIV prevalence in the North-Eastern states of India, especially among those who inject drugs.

• NDPS Act- It prohibits a person from producing, possessing, selling, buying, transporting, storing and/or consuming any narcotic drug or psychotropic substance.

• The NDPS Act has been amended thrice so far - in 1988, 2001 and 2014.

• The Act applies to the whole of India as well as to all Indian citizens outside India and all persons employed on ships and aircraft registered in India.

• Drug Free India- Government has also announced the launch of 'Nasha Mukt Bharat' or Drug Free India campaign which focuses on community outreach programmes.

About Narcotics Control Bureau (NCB) 

• NCB was established in 1986.

• NCB is an Indian central law enforcement and intelligence agency.

• It works under the Ministry of Home Affairs.

• It helps in combating drug trafficking as well as use of illegal substances as per the provisions of the Narcotic Drugs and Psychotropic Substances Act.

• It coordinates drug-related matters with state governments and other central departments in India.

Chamba's Minjar fair got international status, notification issued

Tags: State News

After the Governor's approval to the 'Minjar Mela' to be celebrated in Chamba Valley of Himachal Pradesh, the Secretary, Department of Language and Culture, Rajesh Kanwar has issued its notification.

Important facts

• This year it has been celebrated from 24 July to 31 July 2022.

• Actually, the inflorescence of the maize plant is called Minjar.

• When the flowers bloom on the maize, Minjar Mela is celebrated and tourists from all over the country come to participate in this fair.

• Minjar Mela is celebrated to commemorate the victory of the king of Chamba over the ruler of Trigarta (now known as Kangra) in 935 AD.

• It is said that on the return of their victorious king, people greeted him with garlands of paddy and maize, which are symbols of prosperity and happiness.

• This fair is organised on the second Sunday of the month of Shravan.

• Minjar, a silk pendant worn by men and women alike on parts of the dress, is distributed at the time of the announcement of the fair.

• The week-long fair begins when the Minjar flag is hoisted at the historic Chaugan.

Other world famous fairs of India

Six agreements signed between India and Maldives

Tags: International News

Maldives signed 6 agreements with India on 2 August, with both sides reaffirming their desire to strengthen ties to combat "international crimes and terrorism" in the Indian Ocean region.

Important facts

• The six agreements signed between the two sides will facilitate cooperation in capacity building, cyber security, housing, disaster management and infrastructure development in the Maldives.

• After talks with Maldivian President Ibrahim Mohamed Solih, Modi announced a line of credit of USD 100 million (one million = 10 lakh) for Maldives to complete development projects in a time-bound manner.

• The first part of the Greater Male Connectivity Project (GMCP) will include a 6.74 km bridge and a bridge connecting the capital Male to neighboring islands.

• The Prime Minister said that the threat of international crime, terrorism and drug trafficking in the Indian Ocean is serious and close India-Maldives ties are vital for peace in the region.

• The MoU signed on Cyber Security aims to promote the exchange of information related to cyber security on the basis of equality and mutual benefit in accordance with domestic laws, rules and regulations.

Second landing assault craft

• To strengthen Maldives' maritime capability, India has announced the gifting of the second Landing Assault Craft to the Maldives National Defence Force.

• Maldives was one of the first recipients of the Covishield vaccine manufactured by the Serum Institute of India (SII).

• President Solih visited Delhi in 2018 and this is his first visit in the backdrop of the end of the pandemic and the ongoing crisis in Sri Lanka.

About Maldives

• It is also called Maldive Islands, an independent island country in the north-central Indian Ocean.

• It extends more than 510 miles (820 km) from north to south and 80 miles (130 km) from east to west.

• Basis of economy - fisheries, tourism

• Industries - handicraft or cottage including the making of coir (coconut-husk fibre) and coir products, fish canning, and boatbuilding.

• Capital - Male

• President - Ibrahim Mohamed Solih

• Official Language - Dhivehi (Maldivian)

• Official Religion - Islam

• Currency - Rufiyaa

The first All India District Legal Services Authority meeting

Tags: National News

The first All India District Legal Services Authority meeting was held on 30 July and 31 July at Vigyan Bhawan. Its inaugural session was addressed by Prime Minister Narendra Modi.

Important facts

• Chief Justice N.V. Raman and other Supreme Court judges also participated.

• A postage stamp on 'Right to Free Legal Aid' was also released on the occasion.

• It was organised by the National Legal Services Authority (NALSA).

• The meeting was based on the creation of an integrated process aimed at bringing about uniformity and coordination among the District Legal Services Authorities.

• In India, there are 676 District Legal Services Authorities (DLSAs). District judges act as the chairpersons of DLSAs.

• NALSA implements several legal aid and awareness programs through DLSAs and State Legal Services Authorities (SLSAs).

• DLSAs also help in reducing the burden on the courts by regulating the Lok Adalats conducted by NALSA.

About National Legal Services Authority (NALSA) 

• NALSA was established on 9th November, 1995 as per the authority of Legal Services Authorization Act 1987.

• It was established with the objective of conducting Lok Adalats to provide free legal services to deserving candidates as well as for timely resolution of cases.

• The Chief Justice of India acts as the principal guardian of NALSA.

• On the other hand, the second senior-most judge of the Supreme Court of India acts as the acting-chairman.

• Its main objective is to reduce the burden of the judiciary through speedy disposal of cases.

Muslim Women's Rights Day

Tags: Important Days

On August 1, 2019, Muslim women got freedom from the social evil called 'triple talaq', hence August 1 has been recorded in the history of India as 'Muslim Women's Rights Day'.

Important facts

• Muslim Women's Rights Day is celebrated on 1st August in the backdrop of Triple Talaq Bill which was approved in Parliament on 1st August 2019.

• The Triple Talaq Bill was a major milestone in freeing Muslim women from the shackles of social evil of the conditions of divorce.

• Shah Bano Begum & Ors Vs Mo Ahmed Khan', 'Shayra Bano Vs Union of India and Others' laid the foundation stone for this move.

• In her writ petition, Shayra Bano had sought the Supreme Court to declare the three practices talaq-e-biddat, polygamy, nikah-halala unconstitutional.

• Cases were being registered citing violation of Articles 14, 15, 21, 25 of the Constitution.

About triple talaq law

• Triple talaq is called 'Talaq-e-bidat'.

• In this, the husband says three times in one go... Divorce-divorce-divorce. It is valid only if both the husband and wife agree to divorce each other.

• But it has been seen that in almost 100 percent of the cases, only the husband has the consent.

• The bill was passed in the Lok Sabha in December 2017, but got stuck in the Rajya Sabha.

• After this, in September 2018, the government issued an ordinance to ban triple talaq.

• Declaring triple talaq as an offence in this ordinance, there is a provision for imprisonment of up to three years and fine for the husband.

• The Supreme Court called it a violation of Articles 14 and 21 of the Indian Constitution, which give equal rights to all citizens.

• According to Section 3 of this bill, it will be illegal and unlawful to pronounce triple talaq in writing or by any electronic means.

Success of law

• Ever since the law was passed, the cases of triple talaq have come down by 82%.

Which countries have banned triple talaq?

• Egypt was the first country to ban triple talaq in 1929.

• Egypt is followed by Sudan, Pakistan (in 1956), Malaysia (in 1969), Bangladesh (in 1972), Iraq (in 1959) and Syria (in 1953).

• In recent years, the United Arab Emirates, Morocco, Iran, Cyprus, Qatar, Jordan, Brunei, Algeria, as well as India, have banned the practice.