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By admin: Oct. 31, 2022

President Droupadi Murmu to inaugurate 7th 'India Water Week' in Greater Noida on 1 November 2022

Tags: place in news Summits State News

President Droupadi Murmu will inaugurate the 7th India Water Week in Greater Noida, Uttar Pradesh on 1 November 2022. Denmark, Singapore, and Finland will be the partner countries for this event.

The 7th India Water Week is being organised by the Union Ministry of Water Resources, River Development, and Ganga Rejuvenation from 1 -5 November 2022 to raise awareness, conserve and use water resources in an integrated manner. 

Theme of the 7th India Water Week 2022

The theme of the 7th India Water Week 2022: Water Security for Sustainable Development and Equity”.

The event will bring together experts, planners, and stakeholders from across the globe. It will address the issues of sustainability of water resources development and management in the line with sustainable development goals. 

Union Minister for Water Resources, River Development, and Ganga Rejuvenation: Gajendra Singh Shekhawat

Union Minister Hardeep Puri attends the Abu Dhabi International Petroleum Exhibition & Conference

Tags: Person in news International News

Union Minister for Petroleum and Natural Gas and Housing and Urban Affairs Hardeep Singh Puri attended the Opening Ceremony of the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC-2022) on 31 October 2022 at Abu Dhabi. United Arab Emirates. 

Hosted by ADNOC(Abu Dhabi National Oil Company), ADIPEC is one the world's leading events of the energy industry and aims to provide insights on the latest trends affecting an evolving global energy system including the global economy, energy supply as well as next generation of energy solutions.

Mr Singh who was on a day visit to the United Arab Emirates (UAE) held bilateral discussion with his counterparts from UAE, Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, and Dr. Sultan Ahmad Al Jaber, Minister of Industry & Advanced Technology, MD & Group CEO, ADNOC, to strengthen energy cooperation within the overall framework of India-UAE Strategic Partnership.

The Minister also inaugurated the India Pavilion, set up jointly by Federation of Indian Petroleum Industry (FIPI) and Confederation of Indian Industry (CII).

India- UAE Trade Relations  

• UAE is an important trade partner of India with which India has a Comprehensive Economic Partnership Agreement to promote free trade in goods and services. 
• UAE is the third largest trading partner of India after China and the United States.
• UAE is the second largest export market for India after the United States.  
• UAE was the second largest source of imports for India after China. The US is the third largest source of imports.
• India ranks as the UAE’s number one trading partner for non-oil exports, accounting for nearly 14 percent of the UAE’s total non-oil exports globally. 

United Arab Emirate (UAE) 

• It is a federation of seven Emirates of Abu Dhabi, Dubai, Sharjah, Ras Khaimah, Ajmain, Fujairah, Umm -Al-Quwain. It is an Arabian country.
• Abu Dhabi is the largest of the emirates and is the centre of UAE oil business.
• It is situated in the West Asia /Middle East region of the world in the Arabian Peninsula.
• UAE in its present form came into existence in 1971. 

Capital of UAE: Abu Dhabi

Currency: Emirati Dirham

President of UAE: Sheikh Khalifa bin Zayed bin Sultan Al Nahyan. He is the king of Abu Dhabi.

RBI to launch a pilot project on Digital Rupee in the Wholesale segment on 1 November 2022

Tags: Economy/Finance

The Reserve Bank of India (RBI) has on 31 October 2022 announced that it will begin a pilot launch of the Digital Rupee (e₹) for specific use cases. The first pilot project of the Digital Rupee will be launched in the Wholesale segment (e₹-W) on November 1, 2022. 

Where it will be used? 

The digital rupee will be used for settlement of secondary market transactions in government securities. According to the RBI, nine banks including State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC will participate in the pilot project.

Digital Currency in India 

Union Finance Minister Nirmala Sitharaman had earlier announced that the RBI will launch a Central Bank Digital Currency (CBDC) in 2022-23. According to the FM, the introduction of CBDC will boost the digital economy and will be based on Blockchain technology.

What is Central Bank Digital Currency (CBDC)?

 According to the Reserve Bank of India the CBDC has the following features:

• It is a  legal tender issued by a central bank in a digital form,
•  It is similar to sovereign paper currency (Indian Rupee) but takes a different form. It will not be in paper form but in digital format,
• It shall be  exchangeable at par with the existing currency and shall be accepted as a medium of payment, legal tender and a safe store of value,
• CBDCs would appear as liability on a central bank’s balance sheet.

Advantage of a CBDC

• Unlike the paper currency, a digital currency can never be torn, burned, or physically damaged. In comparison to currency notes, the lifeline of a digital form of currency will be indefinite.
• It will promote cashless financial transactions which will reduce the cost of financial transactions.
• Central bank digital currencies would also reduce the risks of using other digital currencies like Bitcoins. Cryptocurrencies are highly volatile, with their value constantly fluctuating which could cause severe financial stress in many households and affect the overall stability of an economy.
• CBDCs, backed by a government and controlled by a central bank, would provide households, consumers, and businesses with a stable means of exchanging digital currency.

Income Tax Department launches HARIT Aaykar initiative on the occasion of the National Unity Day

Tags: National Economy/Finance

The Income Tax Department on the occasion of the National Unity Day has launched the HARIT Aaykar initiative to increase greenery and create micro forests. National Unity day is observed in India on 31 October to commemorate the birthday of the first Home Minister and Deputy Prime Minister of Independent India Sardar Vallabah Bhai Patel.

Under the HARIT (Hariyali Achievement Resolution by Income Tax) initiative, the Department resolves to increase the green cover by planting trees and creating micro-forests in and around the Income Tax Department's buildings and other public areas.

Income Tax in India 

Income tax is a direct tax which is imposed on the income of an Individual or Corporates.

It was first imposed in India on 24 July 1860.The first income tax was imposed in India in 1860 by Sir James Wilson. 

Income Tax day is observed every year on 24 July .

When the Income Tax Act 1922 was introduced it laid a proper framework for the direct tax administration in the country. After Independence the Income Tax act 1961 consolidated and replaced the 1922 Act.

Applicability 

It is applicable all over India. Sikkim was brought under the Income Tax act 1961 in 1989 and Jammu and Kashmir was brought under the act in 2019.

Tax administration Structure in India 

 In 1924, the Central Board of Revenue was constituted as a statutory body with functional responsibilities for administering the Income Tax Act. 

In 1963, the Central Board of Revenue was bifurcated, and a separate Board for Direct Taxes known as Central Board of Direct Taxes (CBDT) was constituted under the Central Board of Revenue Act, 1963.

Who can levy Income Tax in India? 

Income tax is levied by the central government on the income of a person or a company as specified by the Income Tax act. 

However Income tax on agricultural income is levied by the respective state government.

Maharashtra’s first Electronics Manufacturing Cluster to be set up at Ranjangaon, Pune

Tags: place in news Economy/Finance State News

The government of India has approved the first Electronics Manufacturing Cluster (EMC) in Ranjangaon Phase III, near Pune in Maharashtra. This was announced by the Union Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Rajeev Chandrasekhar on 31 October 2022.

The Rs 492.85 crores Greenfield   project is being developed by the Maharashtra Industrial Development Corporation (MIDC) and the State government’s State Industrial Agency. Government expects investment of over Rs 2000 crore  from Indian and multinational companies in the  Pune EMC.

The Minister said that these EMCs in India will prove to be the pivot points around which the electronics manufacturing and design ecosystem will flourish. It will help achieve the target of US $300 Billion of electronics manufacturing by 2025/26.

Electronics Manufacturing Cluster scheme

The Electronics Manufacturing Cluster scheme was launched by the government of India in 2012 to make India a global player in the field of Electronics Manufacturing. 

The EMC provides for creation of world-class infrastructure for attracting investments in the Electronics Systems Design and Manufacturing (ESDM) Sector. 

Election Commission of India host an International Conference on the Role, Framework & Capacity of EMBs’ at New Delhi

Tags: place in news Summits

Chief Election Commissioner of India (ECI) Rajiv Kumar along with Election Commissioner Anup Chandra Pandey inaugurated a two day international conference (31October and 1 November) on 31 October 2022 on the theme ‘Role, Framework & Capacity of Election Management Bodies (EMB)’. 

The conference is organized by Election Commission of India at New Delhi under Cohort on Election Integrity led by ECI, which was established as a follow on to the ‘Summit for Democracy’ held in December, 2021. 

Nearly 50 Participants from Eleven EMBs from 11 countries including Armenia, Mauritius, Nepal, Cabo Verde, Australia, Chile, Federal States of Micronesia, Greece, Philippines, Sao Tome & Principe, USA and three international organisations namely, IFES, International IDEA and UNDP(United Nation Development Programme) India are expected to join the Conference..

‘Summit for Democracy’, an initiative of the US President Joe Biden   was hosted by him in December 2021. Following this Summit, a “Year of Action” was proposed with events and dialogues on themes related to Democracy. 

As part of the ‘Summit for Democracy’ Year of Action, India through the ECI, is leading the ‘Democracy Cohort on Election Integrity’ to share its knowledge, technical expertise, and experiences with other democracies of the world. 

Union Minister Dharmendra Pradhan signs MoU with FIFA and AIFF for implementing Football4Schools initiative in India

Tags: Sports

Union Education and Skill Development & Entrepreneurship Minister Dharmendra Pradhan, on behalf of the Ministry of Education signed a Memorandum of Understanding (MoU) with  world football governing body FIFA and All India Football Federation (AIFF) for the ‘Football4Schools’ initiative in India at Mumbai on 30 October 2022.

FIFA President Gianni Infantino, Minister of State for Home Affairs and Youth Affairs & Sports Nisith Pramanik, President, All India Football Federation, Kalyan Chaubey were also present on the occasion.

The MoU was signed at the sidelines of the final of the FIFA U-17 Women’s World Cup 2022 being held in Mumbai, which was won by Spain.

 The Minister said that football is an immensely popular sport and the Football4Schools program uses it as a positive tool to inspire children and ensure their holistic development. He further said that ‘Football4Schools’ aims to empower 2.5 crore young boys and girls in India through sports-integrated learning.

Football4 School initiative

The Football4 School initiative has been launched by FIFA with a $100 million budget in 2018. The initiative targets to reach over 700 million children across the world with special emphasis on reaching out to all the tribal communities of the world. Of the targeted children at least 50% of them will be girls.

The aim of the initiative is to educate children on various topics, not just about football, and to make them better citizens of their country.

Fédération internationale de Football Association(FIFA)

It is an international organisation that governs football, futsal and beach soccer in the world.  At present 211 associations are its members representing their countries .

It also organises the men's and women’s  football world cup.

 It was founded in 1904 in Paris , France .

Headquarters : Zurich, Switzerland 

President : Gianni Infantino

Rashtriya Ekta Diwas

Tags: Important Days

Every year 31 October is observed in India as Rashtriya Ekta Diwas as a tribute to the first home minister and Deputy Prime Minister of Independent India Sardar Vallabhbhai Patel. He was born on 31st October 1875 in Nadiad, Kheda district of present Gujarat.

He was the Home Minister from 15 August 1947 to 15 December 1950 and played a vital role in integrating the Princely states in India after Independence. For his role in integrating the princely states he is also called the Iron Man of India, Bismarck of India or Mazzini of India.

Background to the Day 

In 2014 the Prime Minister Narendra Modi government decided to observe 31st October as Rashtriya Ekta Diwas to reinforce our dedication to preserve and strengthen the unity, integrity and security of the nation.

Prime Minister observe Rashtriya Ekta Diwas 2002 at Kevadia, Gujarat 

The Prime Minister participated in the Rashtriya Ekta Diwas celebrations 2022 at the Status of Unity, Kevadia, Ekta Nagar . The celebrations witnessed the Rashtriya Ekta Diwas Parade, which included contingents of BSF and of five State Police Forces, one each from the Northern Zone (Haryana), Western Zone (Madhya Pradesh), Southern Zone (Telangana), Eastern Zone (Odisha) and North Eastern Zone (Tripura).

Statute of Unity 

The Statue of Unity dedicated to Sardar Vallabhbhai Patel is the world's tallest statue.

It is 182 meters (597 feet) tall and located on the island of Sadhu -Betu in river Narmada in Kevadiya, Gujarat. The statue has been designed by Ram Suttar.

The statue was inaugurated by PM Modi on 31October 2018.

World Cities Day

Tags: Important Days

Every year 31st October is observed as World Cities day. It brings the end of Urban October . Urban October was launched by UN Habitat in 2014 to emphasize the world’s urban challenges and engage the international community towards the New Urban Agenda.

Background to the day 

The United Nations General Assembly passed a resolution on 27 December 2013 to designate 31st October as World Cities Day.  The Day is observed to promote the international community’s interest in global urbanization, addressing challenges of urbanization and contributing to sustainable urban development around the world.

The first World Cities Day was observed in 2014.

Theme of the World Cities Day 2022

The Theme of the World Cities Day 2022: Act Local to Go Global

Every year the United Nations organises the World Cities day function in a city. This year it will be held in Shanghai, China under the theme "Act Local to Go Global."

More than 134 people killed in a bridge collapse in Morbi, Gujarat

Tags: place in news State News

In a tragic incident more than 134 people have been reported dead after a cable bridge collapsed in Morbi town in Gujarat on 30 October 2022.  The authorities fear that the casualties could grow as many bodies are likely to be recovered from the river.

The 230-metre (755 feet) bridge on river Machhu was built during British colonial rule in 1877. It was recently renovated and opened to the public. 

Some 400 people including children had bought tickets to get onto the bridge to celebrate the Diwali and Chhath Puja festivals. However the bridge collapsed and plunged people about 10 meters (33 feet) into the river below.

The Gujarat government has ordered an inquiry into the tragedy and filed an FIR against the Oreva company which was responsible for the maintenance of the bridge.

Machhu River 

The Machhu River rises in the Madla hills of Jasdan near village Khokhara in Chotila taluka of Surendranagar district of Gujarat.

This is one of the North flowing rivers of Saurashtra in Gujarat state. It falls into the little Rann of Kachchh. 

Total length of this North Flowing river from its origin to its outfall into the little Rann of Kachchh is 114.75 km.

Brazilian Luiz Inacio Lula da Silva wins 3rd term as the President of Brazil

Tags: Person in news International News

The leftist leader Luiz Inacio Lula da Silva of the Worker Party won his third term as the President of Brazil after narrowly defeating the incumbent President Jair Bolsonaro in a runoff election. Declaring the result on 30 October 2022 the Supreme Electoral Court of Brazil, declared Lula as the next President.  Lula secured 50.9% of votes against 49.1% for Bolsonaro and he received more than 60 million votes, the most in Brazilian history. 

The 77-year-old Lula's will take oath of his office on 1 January 2023 for another 4 year term.

Runoff Election 

Under the Brazilian constitution a candidate has to win more than half of the votes polled and if none of the candidates secure the required votes then there is another round of voting called run off polls.

In the runoff polls the top two candidates who secures the maximum votes can contest again for the post.

In the first round of voting held on 2 October 2022 neither Lula nor Bolsonaro got the required votes. Hence the runoff election was conducted on 30 October 2022.  

 Luiz Inacio Lula da Silva 

Lula first became the President of Brazil after he won the 2002 election and he was re-elected again in the 2006 election. However he was convicted in a case of corruption in 2017 and was sentenced to 9 and half years to prison. Later he was released from prison after the Federal Supreme Court overturned his conviction.

Pink Tide in Latin America 

Lula’s election marks the continuation of the Pink tide in the Latin American politics where the leftist leaders are coming back to power. His victory over far-right president Jair Bolsonaro leaves Brazil joining Colombia, Mexico, Argentina, Chile and Peru in a growing leftist bloc. 

Brazil 

It is the fifth largest country in the world area wise after Russia, Canada, China, and the United States.

It covers almost half of the South American Continent.

60% of the Amazon rainforest which is considered the lung of the earth lies in Brazil.

Capital: Brasilia 

Currency: Brazilian Real 

President: Jair Bolsonaro

Chirag Shetty-Satwiksairaj Rankireddy wins the French open Badminton men’s doubles title

Tags: Sports Person in news

The Birmingham Commonwealth gold medallist pair of Chirag Shetty and Satwiksairaj Rankireddy won the French Open Badminton 2022 men’s doubles title on 30 October 2022. It was also their first  BWF  Super 750 title.

The French open Badminton 2022 was held in Paris, France from 25-30 October 2022.

The Indian badminton pair defeated Chinese Taipei’s pair of Lu Ching Yao and Yang Po Han in the final on 30 October 2022. 

This was also the first time since Partho Ganguli and Vikram Singh’s triumph in 1983 that an Indian men’s doubles pair won the French Open badminton title.

This was Chirag Shetty and Satwiksairaj Rankireddy’s fourth BWF World Tour title. They won the Hyderabad Open 2018, the Thailand Open 2019 and India Open 2022.

The win also makes Chirag Shetty and Satwiksairaj Rankireddy the first Indian doubles pair to clinch a BWF Super 750 crown. 

BWF (Badminton World Federation )

It is an international  governing body of Badminton in the world .

It was set up as the International Badminton Federation in 1934 and later converted into the World Badminton Federation in 2006.

Currently it has 176 member countries.

Headquarters : Kuala Lumpur, Malaysia