DAILY CURRENT AFFAIRS

By admin: May 21, 2022

FDI inflow hits all-time high of USD 83.57 billion in 2021-22

Tags: National Economy/Finance

India recorded the highest annual foreign direct investment of $83.57 billion in FY 2021-22.

• In FY 2020-21, the FDI inflows were $81.97 billion. FDI equity inflows in manufacturing rose 76% in FY22.

• The FDI inflows registered a growth of 85 per cent in the last financial year. India has received over US$ 301 billion in the last four financial years.

• According to data from the Ministry of Commerce and Industry, the country's FDI inflows have increased 20-fold since the financial year 2003-04, when FDI inflows were only US$4.3 billion.

• As against FDI inflows of $141.10 billion in the pre-COVID period from February 2018 to February 2020, FDI from March 2020 to March 2022 grew by almost 22% to $171.84 billion.

• India is fast emerging as a preferred country for foreign investment in the manufacturing sector.

• Liberal and transparent policy for FDI and several other measures have resulted in record FDI inflows.

• Topmost investor

• Singapore was the largest investor in India in the last financial year.

• It accounted for 27% in FDI, followed by the US at 18% and Mauritius at 16%.

• Computer software and hardware emerged as the top recipient sector of FDI with an around 25% share.

• It is followed by the services and automobile sectors with a share of 12%.

• Top FDI recipient state

• Karnataka was the top recipient state with 38% share in the total FDI equity inflows during 2021-22.

• Maharashtra (26%) and Delhi (14%) were second and third.

NASSCOM to launch portal to promote digitization of small and medium enterprises

Tags: National News

The Electronics and IT, Skill Development, and Entrepreneurship ministry has announced that NASSCOM will launch a portal to promote digitization of small and medium enterprises.

• The portal will bring SMEs and Startups on a single platform to encourage SMEs to adopt digitally and build capacity.

• About NASSCOM

• It is a not-for-profit industry association and is the apex body for the IT BPM industry in India.

• It has made unprecedented contributions to India's GDP, exports, employment, infrastructure and global visibility.

• In India, it provides maximum employment in the private sector.

• It was established in 1988 and since then, has been making continuous efforts to support the IT BPM industry.

• It is dedicated to expanding India's role in the global IT ecosystem by creating a conducive business environment.

EPFO adds 15.32 lakh net subscribers in March

Tags: National News

As per provisional payroll data, Employees' Provident Fund Organisation (EPFO) has added 15.32 lakh new subscribers in the month of March 2022.

• This is almost 20 per cent more than the 12.85 lakh subscribers enrolled in February this year.

• Age-wise comparison of payroll data revealed that highest net enrollment in March 2022 was recorded by youth in the age group of 22-25 years.

• Age-wise payroll data indicates that most first-time job seekers are joining the organised sector workforce in large numbers.

• Establishments comprising Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi lead the way by adding around 10.14 lakh net customers during March, accounting for 66.18 per cent of the total net payroll growth across all age groups.

• The share of female enrollment is 22.70 per cent of the total net subscriber base during March 2022.

• There is a positive trend in the participation of women in the organised workforce since October 2021.

• About Employees' Provident Fund Organisation (EPFO)

• It is one of the largest social security organisations in the world in terms of customers and the volume of financial transactions made.

• It is a statutory body established by the Government of India.

• It came into existence with the Employees' Provident Fund Ordinance on November 15, 1951.

• Headquarters  -  New Delhi

• It was replaced by the Employees' Provident Fund Act, 1952.

• Founded  - 4th March 1952

• Owned By  -  Ministry of Labour and Employment, Government of India

• It aims to meet the emerging needs of comprehensive social security in a transparent, contactless, faceless and paperless manner.

National Mission for Clean Ganga approves 11 projects worth Rs 660 crore

Tags: National Government Schemes

The Executive Committee of the National Mission for Clean Ganga has recently approved 11 projects with an estimated cost of about Rs.660 crore.

• This decision was taken in the 42nd meeting of the Executive Committee chaired by Director General G Ashok Kumar.

• Apart from this two projects of River Front Development in Badrinath were also given approval. 

• Two major septage management projects in Uttarakhand and West Bengal were also approved in the meeting.

• National Mission for Clean Ganga(NMCG) 

• It was registered on 12 August 12, 2011 as a society  under the Societies Registration Act 1860.

• It serves as the implementing arm of the National Ganga River Basin Authority (NGRBA), which was constituted under the provisions of the Environment Protection Act (EPA), 1986.

• It was established to address pollution challenges in the Ganga river.

• The operational area of the project covers the Ganga basin and all the states through which the river flows, including Delhi.

• The objective is to reduce pollution and ensure rejuvenation of the Ganga river. 

Anti-Terrorism Day

Tags: Important Days

Anti-Terrorism Day is observed on 21st of May every year.

• It is observed on the death anniversary of former Prime Minister Rajiv Gandhi.

• In 1991, he was assassinated in a suicide bombing, by Liberation of Tamil Tigers Eelam (LTTE) terrorist troop while campaigning at Sriperumbudur in Tamil Nadu. 

• He served as the Prime Minister of India from 1984 to 1989.

• The Center decided to observe May 21 as Anti-Terrorism Day by the government of the then VP Singh.

• Anti-terrorism pledge is taken on this day in all government offices, public sector undertakings, other public institutions etc.

• Last year, the MHA had proposed that officers take an 'anti-terrorism oath' in their rooms/offices to avoid public gatherings during the COVID-19 pandemic.

• Aim of the Day

• Raising awareness of terrorism and violence and how it affects the general public.

• To demonstrate how harmful terrorism is to the country.

250th Birth Anniversary of Raja Ram Mohan Roy

Tags: Person in news Important Days

The Ministry of Culture is celebrating the 250th birth anniversary of Raja Ram Mohan Roy from 22 May 2022 to 22 May 2023 under the aegis of 'Azadi Ka Amrit Mahotsav'.

• The opening ceremony will be held at Raja Ram Mohan Roy Library Foundation, Salt Lake, Kolkata and Science City Auditorium, Kolkata.

• During the event, a statue of Raja Ram Mohan Roy will be unveiled by the Minister of Culture, G Kishan Reddy at the Raja Ram Mohan Roy Library Foundation, Kolkata.

• About Raja Ram Mohan Roy

• Born - 22 May 1772 in a Hindu Brahmin family in Radhanagar village in West Bengal’s Murshidabad district, Bengal. 

• Gopal Krishna Gokhale called him the 'Father of Modern India'.

• He was one of the pioneers of the Indian Renaissance. 

• He was awarded the title of Raja by the Mughal Emperor Akbar II.

• He opposed customs such as Sati, polygamy, child marriage, the rigidity of the caste system. 

•  He formed Atmiya Sabha (Friendly Society) In 1814. It was for the religious reforms in the society. 

• In 1828 he founded the Brahmo Samaj.

• The Brahmo Samaj was a reformist movement of Hinduism that aimed to fight the social evils prevalent in the society.

• As a result of hard work in fighting the practice of Sati, the Governor of Bengal Presidency Lord William Bentinck banned the practice of Sati in the year 1829.

• He died of meningitis on September 27, 1833, at Stapleton, near Bristol, while on a visit to Britain.

8th BRICS Environment Ministers Meeting

Tags: Summits International News

The Union Minister for Environment, Forest and Climate Change, Bhupendra Yadav participated in the 8th BRICS Environment Ministers' Meeting on 20 May.

• The meeting was held virtually under the chairmanship of the People's Republic of China.

• Ministers and representatives of Brazil, Russia and South Africa also participated in the meeting.

• The theme of the meeting - 'Foster High-Quality BRICS Partnership, Usher in a New Era for Global Development'.

• The Joint Statement of the 8th BRICS Environment Ministers' Meeting was also accepted in the meeting after extensive deliberations among the BRICS countries.

• About BRICS

• The full form of BRICS is Brazil, Russia, India, China, and South Africa.

• Goldman Sachs economist Jim O'Neill coined the term BRIC (without South Africa) in 2001.

• He claimed that by 2050, the four BRIC economies would dominate the global economy by 2050.

• South Africa was included in the list in 2010.

• The presidency of the Forum is rotated annually among the members.

• BRICS accounts for about 40% of the world’s population. 

• It accounts for 30% of the world's GDP (Gross Domestic Product).