1. DGCA suspends licence of Air India pilot
Tags: National National News
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The Directorate of Civil Aviation (DGCA) has recently suspended the license of an Air India pilot for one year due to a breach of protocol.
An overview of the news
The pilot allowed an individual who did not have proper authorization to enter the cockpit of the Chandigarh-Leh flight.
The first officer, who was responsible for the cockpit, did not raise any concerns about the unauthorized person's presence.
The incident occurred on the 3rd of this month during the Air India flight from Chandigarh to Leh.
The unauthorized person remained in the cockpit throughout the duration of the flight.
As a result of the investigation, the DGCA suspended the license of the first officer pilot for one year.
This disciplinary action is a consequence of allowing the unauthorized entry and failing to address the violation promptly.
The first officer was found to be lacking assertiveness in preventing the unauthorized entry and also failed to report the violation.
Directorate General of Civil Aviation (DGCA)
It is a statutory body and formed under the Aircraft (Amendment) Bill, 2020.
It investigates aviation accidents and enforces all regulations related to aviation.
It registers and provides certificates to civil aircrafts.
It is attached to the Ministry of Civil Aviation, Government of India.
It coordinates all regulatory functions with the International Civil Aviation Organisation.
2. DGCA suspends licence of Air India pilot
Tags: National National News
The Directorate of Civil Aviation (DGCA) has recently suspended the license of an Air India pilot for one year due to a breach of protocol.
An overview of the news
The pilot allowed an individual who did not have proper authorization to enter the cockpit of the Chandigarh-Leh flight.
The first officer, who was responsible for the cockpit, did not raise any concerns about the unauthorized person's presence.
The incident occurred on the 3rd of this month during the Air India flight from Chandigarh to Leh.
The unauthorized person remained in the cockpit throughout the duration of the flight.
As a result of the investigation, the DGCA suspended the license of the first officer pilot for one year.
This disciplinary action is a consequence of allowing the unauthorized entry and failing to address the violation promptly.
The first officer was found to be lacking assertiveness in preventing the unauthorized entry and also failed to report the violation.
Directorate General of Civil Aviation (DGCA)
It is a statutory body and formed under the Aircraft (Amendment) Bill, 2020.
It investigates aviation accidents and enforces all regulations related to aviation.
It registers and provides certificates to civil aircrafts.
It is attached to the Ministry of Civil Aviation, Government of India.
It coordinates all regulatory functions with the International Civil Aviation Organisation.
3. Indian Railways signs MoU with USAID/India
Tags: National News
Indian Railways signed a Memorandum of Understanding (MoU) with the United States Agency for International Development/India (USAID/India).
An Overview of the News
It aims to reduce the carbon footprint of Indian Railways and achieve the mission Net Zero Carbon Emission.
Indian Railways is actively working towards achieving net zero carbon emissions by 2030 and has a multi-pronged strategy.
The MoU was signed on June 14, 2023 by Naveen Gulati of Indian Railways and Isabel Coleman of USAID.
USAID is a US government agency that supports international development in a variety of fields.
The MoU covers areas such as long-term energy planning, energy efficiency policy, clean energy procurement, regulatory support and bidding management for renewable energy.
About USAID
The United States Agency for International Development (USAID) is an independent agency of the US federal government.
USAID is primarily responsible for administering civilian foreign aid and development assistance programs.
The agency has a substantial budget of over $27 billion, making it one of the largest official aid agencies globally.
Formation - November 3, 1961
Headquarters - Washington, D.C., US
Motto - "From the American People"
4. Digi Yatra app user base crosses the one million mark
Tags: National National News
The number of passengers who have installed the Digi Yatra application on their mobile phones has surpassed one million till 20th June 2023.
An overview of the news
Since its launch on December 1, 2022, a total of 1.746 million individuals have utilized this facility.
About Digi Yatra
The Digi Yatra initiative was initially inaugurated at three airports - New Delhi, Bengaluru, and Varanasi - in December 2022.
Subsequently, in April 2023, it was introduced at Vijayawada, Kolkata, Hyderabad, and Pune airports, expanding its coverage.
Digi Yatra is an initiative led by the Ministry of Civil Aviation, focusing on implementing a biometric boarding system utilizing Facial Biometric Verification Technology.
Its primary objective is to enhance the airport experience for passengers by streamlining the verification process, eliminating the need for manual ticket and ID checks at multiple touchpoints.
This is achieved through a Digital Framework that optimizes existing infrastructure.
5. Digi Yatra app user base crosses the one million mark
Tags: National National News
The number of passengers who have installed the Digi Yatra application on their mobile phones has surpassed one million till 20th June 2023.
An overview of the news
Since its launch on December 1, 2022, a total of 1.746 million individuals have utilized this facility.
About Digi Yatra
The Digi Yatra initiative was initially inaugurated at three airports - New Delhi, Bengaluru, and Varanasi - in December 2022.
Subsequently, in April 2023, it was introduced at Vijayawada, Kolkata, Hyderabad, and Pune airports, expanding its coverage.
Digi Yatra is an initiative led by the Ministry of Civil Aviation, focusing on implementing a biometric boarding system utilizing Facial Biometric Verification Technology.
Its primary objective is to enhance the airport experience for passengers by streamlining the verification process, eliminating the need for manual ticket and ID checks at multiple touchpoints.
This is achieved through a Digital Framework that optimizes existing infrastructure.
6. China inks deal with Pakistan to set up nuclear power plant
Tags: International News
China and Pakistan signed an agreement on 20 June to set up nuclear power plants worth $4.8 billion in Punjab province.
An Overview of the News
The nuclear power plant deal is a symbol of growing economic cooperation between China and Pakistan.
The agreement covers the construction of the 1,200 MW Chashma-5 nuclear plant in Punjab's Mianwali district.
Pakistan is receiving a significant investment of $4.8 billion from China for this project.
Pakistan actively engaged with the International Monetary Fund (IMF) to meet the conditions required for the 9th review, and Prime Minister Sharif of Pakistan acknowledged the support of Saudi Arabia, the United Arab Emirates and Qatar.
About Pakistan
Independence - 14 August 1947
Capital - Islamabad
President - Arif Alvi
Prime Minister - Shahbaz Sharif
Official languages - Urdu, English
About China
Government - Unitary Marxist-Leninist One Party Socialist Republic
President - Xi Jinping
Capital - Beijing
Official Language - Standard Chinese
Currency - Renminbi
7. Fitch raises India's GDP forecast to 6.3% from 6% for FY24
Tags: National Economy/Finance National News
Fitch Ratings has recently revised its forecast for Indian economic growth in the fiscal year 2023-24, increasing it from 6% to 6.3%.
An overview of the news
The revision is based on a stronger first-quarter performance and positive momentum in the near term.
Comparison with previous years
In FY23, the growth forecast compares with a 7.2% GDP expansion. The economy had a growth of 9.1% in FY22.
Factors contributing to the growth forecast change
Fitch Ratings attributes the revised forecast to the overall strength of India's economy.
It highlights a 6.1% year-on-year GDP growth in Q1 2023, robust performance in auto sales, PMI surveys, and credit growth in recent months.
Upgraded forecast and global trade impact
Fitch Ratings considers the stronger first-quarter performance and positive momentum as reasons to upgrade the growth forecast to 6.3%, which it states is one of the highest growth rates globally.
However, it acknowledges that India's economy may be affected by the slowdown in global trade.
Impact of interest rate increase and inflation
Fitch Ratings mentions that the full impact of a 250 basis points increase in interest rates by the Reserve Bank of India (RBI) since May 2022 is yet to be felt.
It also highlights that consumers have experienced a decline in purchasing power due to increased inflation in 2022.
Supportive factors for investment
The rating agency notes that the government's emphasis on increased capital expenditure, moderation in commodity prices, and robust credit growth are expected to support investment.
It anticipates that slowing inflation will gradually benefit consumers, and households are showing increased optimism about future earnings and employment.
RBI's policy rates and inflation
The RBI has maintained policy rates at 6.5% throughout the year, while headline inflation has eased from a peak of 7.8% to 4.3% in May, falling within the RBI's tolerance band of 2-6%.
Growth forecast for future fiscal years
Fitch Ratings estimates a growth rate of 6.5% for both the 2024-25 and 2025-26 fiscal years.
8. Fitch raises India's GDP forecast to 6.3% from 6% for FY24
Tags: National Economy/Finance National News
Fitch Ratings has recently revised its forecast for Indian economic growth in the fiscal year 2023-24, increasing it from 6% to 6.3%.
An overview of the news
The revision is based on a stronger first-quarter performance and positive momentum in the near term.
Comparison with previous years
In FY23, the growth forecast compares with a 7.2% GDP expansion. The economy had a growth of 9.1% in FY22.
Factors contributing to the growth forecast change
Fitch Ratings attributes the revised forecast to the overall strength of India's economy.
It highlights a 6.1% year-on-year GDP growth in Q1 2023, robust performance in auto sales, PMI surveys, and credit growth in recent months.
Upgraded forecast and global trade impact
Fitch Ratings considers the stronger first-quarter performance and positive momentum as reasons to upgrade the growth forecast to 6.3%, which it states is one of the highest growth rates globally.
However, it acknowledges that India's economy may be affected by the slowdown in global trade.
Impact of interest rate increase and inflation
Fitch Ratings mentions that the full impact of a 250 basis points increase in interest rates by the Reserve Bank of India (RBI) since May 2022 is yet to be felt.
It also highlights that consumers have experienced a decline in purchasing power due to increased inflation in 2022.
Supportive factors for investment
The rating agency notes that the government's emphasis on increased capital expenditure, moderation in commodity prices, and robust credit growth are expected to support investment.
It anticipates that slowing inflation will gradually benefit consumers, and households are showing increased optimism about future earnings and employment.
RBI's policy rates and inflation
The RBI has maintained policy rates at 6.5% throughout the year, while headline inflation has eased from a peak of 7.8% to 4.3% in May, falling within the RBI's tolerance band of 2-6%.
Growth forecast for future fiscal years
Fitch Ratings estimates a growth rate of 6.5% for both the 2024-25 and 2025-26 fiscal years.
9. Coal India to come under Competition Act: Supreme Court
Tags: National National News
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The Supreme Court recently said that public sector company (PSU) Coal India Limited (CIL) will also come under the purview of the Competition Act.
An overview of the news
Court rejected CIL's argument that the act does not apply to them due to their operation under the Coal Mines (Nationalisation) Act.
A bench of Justices KM Joseph, BV Nagaratna and Ahsanuddin Amanullah said, "Section 54 of the Competition Act empowers the Central Government to grant exemption for any period from the operation of this Act or any provision thereof." which shall be specified in the notification.
The grounds for exemption may be security of the state or public interest.
If the appellant proves a proper case to exclude it from the purview of the Act, the Government will be powerless.
The issue has been sent back to the Competition Commission of India to decide on its merits.
Dismissal of appeals
The tribunal had upheld the Competition Commission of India's (CCI) order, holding CIL guilty of abuse of dominance in the production and supply of non-coking coal, resulting in a penalty imposed by the CCI.
The CCI imposed a penalty of Rs 1,773.05 crore on CIL for unfair and discriminatory conditions in fuel-supply agreements.
The tribunal later reduced the penalty amount to Rs 591.01 crore.
Competition Commission of India (CCI)
The Competition Commission of India (CCI) is the chief national competition regulator in India.
It was set up under the Competition Act, 2002
It comes under the Ministry of Corporate Affairs.
It promotes healthy market competition and prevents activities that have an adverse effect on competition in India.
CCI also approves combinations under the act so that two merging entities do not overtake the market.
Headquarter - New Delhi
Current Chairman - Ashok Kumar Gupta
10. Coal India to come under Competition Act: Supreme Court
Tags: National National News
The Supreme Court recently said that public sector company (PSU) Coal India Limited (CIL) will also come under the purview of the Competition Act.
An overview of the news
Court rejected CIL's argument that the act does not apply to them due to their operation under the Coal Mines (Nationalisation) Act.
A bench of Justices KM Joseph, BV Nagaratna and Ahsanuddin Amanullah said, "Section 54 of the Competition Act empowers the Central Government to grant exemption for any period from the operation of this Act or any provision thereof." which shall be specified in the notification.
The grounds for exemption may be security of the state or public interest.
If the appellant proves a proper case to exclude it from the purview of the Act, the Government will be powerless.
The issue has been sent back to the Competition Commission of India to decide on its merits.
Dismissal of appeals
The tribunal had upheld the Competition Commission of India's (CCI) order, holding CIL guilty of abuse of dominance in the production and supply of non-coking coal, resulting in a penalty imposed by the CCI.
The CCI imposed a penalty of Rs 1,773.05 crore on CIL for unfair and discriminatory conditions in fuel-supply agreements.
The tribunal later reduced the penalty amount to Rs 591.01 crore.
Competition Commission of India (CCI)
The Competition Commission of India (CCI) is the chief national competition regulator in India.
It was set up under the Competition Act, 2002
It comes under the Ministry of Corporate Affairs.
It promotes healthy market competition and prevents activities that have an adverse effect on competition in India.
CCI also approves combinations under the act so that two merging entities do not overtake the market.
Headquarter - New Delhi
Current Chairman - Ashok Kumar Gupta
