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By admin: May 7, 2022

India gets its 100th unicorn startup

Tags: National News

The unicorn wave in India has reached an all-time high and the Neobank Open has become the 100th Unicorn in the country.

• The Ministry of Commerce and Industry said that one in every 10 unicorns produced globally is from India.

• Neobank startup, Open has become the 100th unicorn in India with the latest funding of $50 million from IIFL along with existing investors.

• The Indian startup ecosystem is the third largest in the world in terms of number of unicorns.

• India is now home to 100 unicorns, with a total value of $332.7 billion.

• According to the ministry, in the first four months of 2022, India has generated 14 unicorns with a total valuation of $18.9 billion.

• The year 2021 saw a huge jump in the number of unicorns, with a total of 44 startups entering the unicorn club throughout the year, with a total value of $93 billion.

• Since the launch of the Startup India initiative on 16 January 2016, more than 69,000 startups have been recognized in the country till 2 May 2022.

• What is a Unicorn?

• A unicorn is any privately owned firm that has a market capitalization of more than $1 billion.

• The term unicorn was first coined by venture capitalist Aileen Lee in 2013. 

• Some popular unicorns include SpaceX, Robinhood, and Instacart.

• There are over 1,000 unicorn companies around the world as of March 2022.

India's first Regional Rapid Transit System train

Tags: National News

The first train of the 'Regional Rapid Transit System' (RRTS) was handed over to the National Capital Region Transport Corporation (NCRTC) on May 7 at a function in Savli, Gujarat.

• These state-of-the-art RRTS trains are being manufactured in the country under the 'Make in India' initiative at Alstom's factory in Savli, Gujarat.

• Alstom is a French multinational company that acquired Bombardier Transportation early last year.

• The Canadian-German company Bombardier built the Metro car for the Delhi Metro Rail Corporation.

• The RRTS trains are capable of running at a top speed of 180 kilometre per hour. 

• The train set will be brought to the Duhai depot in Uttar Pradesh and will be maintained and operated from there.

• The fully air-conditioned train comes with several modern commuter-centric features including cushioned seating, laptop-mobile charging, luggage racks and dynamic route-maps.

• About NCRTC

• National Capital Region Transport Corporation (NCRTC) is a joint venture company of the Government of India and the states of Delhi, Haryana, Rajasthan and UP under the administrative control of the Ministry of Housing and Urban Affairs.

• It is empowered to implement the Regional Rapid Transit System (RRTS) project in NCR of India.

• It ensures balanced and sustainable urban development through better connectivity and accessibility.

Border Roads Organisation celebrates Raising Day

Tags: National Important Days

Border Roads Organisation celebrating Raising Day today on 7th May, 2022. 

About Border Roads Organisation (BRO)

• BRO, a pioneer in the field of infrastructural development in the border areas of the country, is celebrating its 63 years of illustrious service to the nation.

• BRO is a major road construction agency under the Ministry of Defence with the primary objective of providing road connectivity to the border areas.

• BRO was formed on 7th May 1960.

• It develops and maintains the road network in India's border areas and friendly neighbouring countries.

• This includes operating infrastructure in 19 states and three union territories (including the Andaman and Nicobar Islands) and neighbouring countries such as Afghanistan, Bhutan, Myanmar, Tajikistan and Sri Lanka.

• One of the biggest infrastructural achievements of BRO - longest highway tunnel built in Himachal Pradesh, and its name is Atal Tunnel.

• Atal tunnel under Rohtang Pass is an 8.8-kilometer-long tunnel.

• This will reduce the distance between Manali and Leh by 46 kms and will save on transportation costs.

• Lieutenant General Rajeev Chaudhry assumes the position of Director General of BRO.  

PM Modi urges people to participate in Logo Design Contest for G-20 Presidency of India

Tags: Popular National News

Prime Minister Narendra Modi has urged people to participate in the logo design competition for the G-20 Presidency of India.

• He said, it is a special competition which celebrates the creativity of the youth of the country.

• The logo design competition window is open to the participants from today till 7th of next month.

• The Ministry of External Affairs has invited logo designs for the upcoming G20 Presidency of India.

• The first winner will get a prize of one lakh 50 thousand rupees and the next five best entries will receive 15 thousand rupees each.

• The logo design should include artistic expressions of colour combination and arrangement in the national tricolour.

• About G-20

• The "Group of 20" (G20) is made up of finance ministers and central bank governors from 19 countries and the European Union.

• Member  countries - Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Republic of Korea, Turkey, United Kingdom and United States of America.

• It is a major forum for international economic cooperation.

• The G20 plays a strategic role in achieving future global economic growth and prosperity.

• Origins of the G-20

• In the wake of the 1997 economic crisis, the G7 finance ministers announced the creation of a "Group of 20".

• The first official meeting of the G20 was held in Berlin in December 1999.

• G-20 leaders have met every year since 2010.

• Contribution of G -20 

• G20 member countries represent more than 80% of world GDP, 75% of international trade and 60% of the world's population.

• Presidency of G -20

• Its presidency rotates with each member country.

• India will hold the Presidency of the G-20, for the first time, from 1st December 2022 to 30 November 2023 culminating in the G-20 Summit in 2023. 

Rooftop solar energy panels to be set up in all CAPF establishments

Tags: National News

A Memorandum of Understanding (MoU) was signed between the Ministry of Home Affairs (MHA) and Solar Energy Corporation of India Limited (SECI) in New Delhi on 6 May 2022, in order to realise the objectives of green energy and the efforts of the Government of India towards a carbon-neutral economy.

• This umbrella MoU envisages cooperation between the two sides for jointly setting up solar rooftop PV power plants.

• The move will help generate up to 71.68 MW of solar power and facilitate the use of green energy in a large number of security installations across India.

• There are around 10 lakh personnel in CAPFs - CRPF, BSF, CISF, ITBP and SSB and they are deployed in different areas of security in different parts of the country.

• Based on the available data, SECI has estimated a total solar power capacity of 71.68 MW in the campuses of CAPFs and NSG.

• The SECI has expertise in the field of solar power projects.

ISRO's plan to make Venus mission special

Tags: National Science and Technology

After the Moon and Mars mission, India is now going to participate in the journey of Venus along with America and other countries. 

• The purpose of this campaign is to gather information about the atmosphere of Venus.

• The project report of 'Shukrayan-1', the name given to the Venus mission of ISRO, is ready and the budget has also been fixed for this.

• The cost of the Venus mission is likely to be between ₹500 crore to ₹1,000 crore, depending on the level of equipment.

• About Shukrayaan-I Mission

• Shukrayaan will be India's first orbiter mission to Venus.

• It will be similar to Moon and Mars missions.

• The mission aims to study the surface of the hottest planet in our solar system. 

• It also aims to unravel the mysteries under the Sulphuric Acid clouds enveloping on Venus.

• Its atmosphere is highly toxic and corrosive.

• Studying the structure, composition, and dynamics of the atmosphere.

• ISRO is planning to launch orbital manoeuvres in December 2024 when Earth and Venus will converge.

• About Venus

• Venus is the second planet from the Sun and Earth’s closest planetary neighbour. Mercury is closer to the Sun.

• Venus is the hottest planet in our solar system.

• The surface temperature on Venus is about 900 °F (475 °C), high enough to melt lead.

• Its dense atmosphere is filled with the greenhouse gas carbon dioxide, and contains clouds of sulfuric acid.

• Venus is sometimes called Earth's twin because it is similar in size and composition, but the planet differs greatly in other respects.

Sri Lankan president declares state of emergency for second time

Tags: Latest International News

Sri Lankan President Gotabaya Rajapaksa declared a state of emergency for the second time in five weeks on 6 May. Extensive powers have been given to the security forces.

• Trade Unions halted public transport, blaming Rajapaksa for the economic crisis. 

• There has been unrest in Sri Lanka for several weeks due to the economic crisis.

• As street protests intensified in Sri Lanka, Gotabaya first declared a state of emergency on 1 April, as citizens went through an economic crunch for food, fuel and medicines.

• Process of declaring an Emergency in Sri Lanka

• The power to declare a state of Emergency is vested in the President.

• It is imposed under Article 155 of the Constitution of Sri Lanka.

• The Public Security Ordinance (PSO) of 1947 provides the legal framework for a proclamation of emergency.

• Under the Ordinance, a state of emergency may be declared "where the President is of the opinion that it is expedient to do so in the interest of public safety and the preservation of public order."

• Emergency rules are valid for one month, but the President must seek ratification every 14 days for proclamations or extensions beyond one month.

• Causes of economic crisis in Srilanka

• Organic agricultural policy cut the government’s tax revenue. 

• Policy failure

• COVID-19 hit Sri Lanka’s key foreign revenue earning sectors

• Fast draining foreign reserves, a glaring trade deficit, and a related Balance of Payments problem.

• Huge foreign loan and the drop in domestic production

• The value of the Sri Lankan rupee has fallen to 300 against the US dollar, putting importers in trouble.

World Athletics Day

Tags: Important Days

World Athletics Day is being celebrated by the IAAF on 7th May in the year 2022.

• The date of World Athletics Day varies every year, this date is decided by the IAAF (International Amateur Athletic Federation).

• The purpose of World Athletics Day is to increase awareness about sports among the people and to connect youth with sports and make them health conscious.

• World Athletics Day was started in 1996 by the then IAAF President Primo Nebbiolo.

• About International Amateur Athletic Federation (IAAF) -

• Formation- 18 July 1912 Stockholm (Sweden)

• Headquarter- Monaco

• Member- 214  federations

• President- Sebastian Coe

Telangana govt extends insurance coverage to handloom & power loom weavers under ‘Nethanna Bima’ scheme

Tags: Government Schemes State News

Telangana State Government has announced the extension of insurance coverage for handloom and power loom weavers under the 'Nethanna Bima' (Weaver's Insurance) scheme.

• The Telangana government has issued orders to increase the insurance coverage for weavers to Rs 5 lakh under the insurance scheme.

• Under the Scheme

• More than Rs 29 crore have been sanctioned for implementing the scheme during this year. The cabinet sub-committee had proposed to cover more than 55 thousand handloom and powerloom and allied weavers in the state.

• The insurance coverage will be extended to weavers in the age group of 18 to 59 years. The insurance benefit will be given to the family on the death of the weaver or ancillary worker. This scheme is likely to start in June 2022.

• About Telangana State

• Telangana is the 29th state of India, carved out of the Indian state of Andhra Pradesh.

• Formation- 02 June 2014

• Capital- Hyderabad

• Governor- Tamilisai Soundararajan

• Chief Minister- K. Chandrashekhar Rao

• Assembly seats - 119

• Lok Sabha seats - 17

National Conference on PM Mega Integrated Textile Regions and Apparel Park (PM MITRA) Scheme

Tags: National Summits

Recently a National Conference on PM Mega Integrated Textile Region and Apparel Park (PM Mitra) Park Scheme was organised by the Ministry of Textiles.

• The conference was inaugurated by U.P Singh, Secretary, Ministry of Textiles.

• The conference provided a platform for presentations by officials of 13 state governments.

• 13 states viz Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Punjab,  Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh participated in the conference.

• Each state government showcased its strengths in the textiles sector.

• About PM MITRA Park Scheme

• Under the project, PM Mitra Parks will be set up by a special purpose vehicle owned by the State Governments and the Centre in a Public-Private Partnership (PPP) model.

• Seven Mega Integrated Textile Region and Apparel (PM Mitra) parks will be set up at greenfield or brownfield sites located in different states.

• It is motivated by PM Modi’s 5F vision of farm to fibre, fibre to factory, factory to fashion and fashion to foreign.

• This integrated vision will help drive the growth of the textile sector in the economy.

• Aim of the scheme

• To create a world class industrial infrastructure that will attract cutting edge technology and promote FDI and local investment in the sector.

• The objective of this scheme is to generate about 1 lakh direct and 2 lakh indirect jobs per park.

• Funding 

• The Centre will provide capital support for common infrastructure development of Rs 500 crore for each greenfield Mitra park and Rs 200 crore for each brownfield.