1. Gadkari calls for joint effort to achieve 5 trillion dollar economy goal
Tags: place in news Economy/Finance Summits Person in news State News
While addressing the 41st Meeting of the Transport Development Council at Bengaluru ,Karnataka on 9 September 2022 ,Union Minister for Road Transport and Highways Nitin Gadkari said that both the Centre and the States should work together to transform the transport sector.
IMPORTANT FACTS -
- The 41st Transport Development Council meeting was held as part of the 3 day ‘Manthan’ organised by the Union Ministry of Road Transport and Highways at Bengaluru.
- Gadkari said that” In the next five years, both the Centre and the states should work together to transform the transport sector of the country to become a five trillion-dollar economy,”
- In 2019, Prime Minister Narendra Modi envisioned making India a $5 trillion economy and global powerhouse by 2024-25.
- He further said that efforts should be made to increase the automobile industry from 7.5 lakhs crore to 15 lakhs crore in the next 5 years enabling India as a top automobile manufacturing hub in the world.
- Ministers of Transport from Uttar Pradesh, Madhya Pradesh, Uttarakhand, Himachal Pradesh, Manipur, Goa, Karnataka, Delhi and Tamil Nadu participated in the 41st Transport Development Council.
2. Piyush Goyal attends the first in-person Ministerial meeting of the Indo-Pacific Economic Forum in Los Angeles
Tags: place in news Summits Economics/Business International News
Union Commerce and Industry Minister Piyush Goel is attending the two day (8-9 September) first in person Ministerial meeting of the Indo-Pacific Economic Forum in Los Angeles, United States.
The meeting is being co- hosted by the U.S. Trade Representative Katherine Tai and the US Commerce Secretary Gina Raimondo.
The first Virtual meeting was held on 26 June 2022 which was hosted by the United States.
The meeting hopes to work out an agreement on the four pillars of the IPEF.
IMPORTANT FACTS -
Indo-Pacific Economic Framework for Prosperity (IPEF) :
- The United States of America President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity (IPEF) on 23 May 2022 in Tokyo, Japan.
- 14 countries Australia, Brunei, Fiji, Indonesia, India, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam along with the United States are members of IPEF.
- Together, these countries represent 40% of world GDP.
Aim of the IPEF :
- It is not a trade bloc where tariffs on goods and services amongst the member countries are reduced to boost trade.
- IPEF is an attempt by the US to offer an alternative supply chain to the countries of Asia-Pacific region against China.
- IPEF will focus on improving the supply chain in the economy so that it can withstand disruption as witnessed during covid pandemic and will make the economy stronger and lower the cost of production .
- To reduce over reliance on China and to diversify the supply chain, the United States is promoting IPEF.
ADDITIONAL INFORMATION -
There are four pillars of IPEF :
- fair and resilient trade (including digital, labour, environmental and other standards);
- supply chain resilience;
- infrastructure, decarbonisation and clean energy; and
- Tax and anti-corruption.
- The Indian government feels that this initiative of the US will help India become a part of the global supply chain. It hopes to attract a sizable global investment in the manufacturing sector as the world moves away from China.
3. Operation Unicorn for Queen Elizabeth II funeral
Tags: place in news Person in news International News
The 96 year old Queen Elizabeth II of United Kingdom died at her remote Highlands residence, Balmoral, in Scotland on 8 September 2022.
The whole of the United Kingdom is in mourning and Buckingham Palace has planned an elaborate funeral for her.
IMPORTANT FACTS -
Operation London Bridge or Operation Unicorn :
- According to Buckingham Palace if the Queen had died in London then the code name of her funeral would have been ‘‘London Bridge' .
- However as she died in Scotland the funeral has now been code named ‘Operation Unicorn.’
- The name was chosen because the unicorn is the national animal of Scotland and forms part of the royal coat of arms, along with the lion of England.
ADDITIONAL INFORMATION -
Another Important point to remember :
She was not only the Head of State of United Kingdom but also the Head of State of 14 other commonwealth countries -Australia, Canada, New Zealand, Antigua and Barbuda, Bahamas, Belize, Grenada, Jamaica, Papua New Guinea, Saint Lucia, Solomon Islands, St Kitts and Nevis, and St Vincent and the Grenadines.
Buckingham Palace :
Buckingham Palace has served as the official London residence of the United Kingdom's Monarch since 1837 and today is the administrative headquarters of the Monarch.
4. India and Japan announces first joint Air Force exercise
Tags: place in news Defence Summits International News
Reflecting the growing security cooperation between the two sides, India and Japan announced plans for their first air force exercise as New Delhi backed Tokyo’s efforts to reinforce its defence capabilities over the next five years.
IMPORTANT FACTS -
- This was announced after the meeting of Defence Minister Rajnath Singh with the Japanese Defence Minister Yasukazu Hamada held in Tokyo, Japan on 8 September 2022.
- Rajnath Singh arrived in Japan after his visit to Mongolia.
- He also participated in India-Japan 2+2 dialogue involving the Defence and Foreign ministers of both the countries. India was represented by External Affairs minister S.Jaishanker and Defence Minister Rajnath Singh while Japan was represented by its Foreign Minister Yoshimasa Hayashi and Defence minister Yasukazu Hamada.
ADDITIONAL INFORMATION -
India -Japan military exercise :
- At present both the countries conduct Dharma Guardian, JIMEX and Malabar exercise. Japan also participated in the MILAN naval exercise 2022 held in Visakhapatnam.
- DHARMA GUARDIAN-2022, an annual exercise between Indian Army and Japanese Ground Self Defence Force was held from 27 February -10 March 2022, Belgaum Karnataka.
- The last edition of the India – Japan Maritime Bilateral Exercise, JIMEX, between the Indian Navy (IN) and the Japan Maritime Self-Defence Force (JMSDF), was held in 2021 Arabian Sea from 06 to 08 October 2021.
- The last edition of Malabar exercise was held in 2021 involving the Australian, United States, Japanese and Indian Navy at sea of Philippines and Bay of Bengal.
5. NTPC to Supply Renewable Power to Army’s Western command for next 27 years
Tags: place in news Economy/Finance Defence
India’s largest power company NTPC has signed a long term agreement with the Army’s Western Command to supply 25 MW/year of solar power from the national solar grid of the country for the next 27 years.
IMPORTANT FACTS -
- This is the first agreement by the Indian Armed Forces for sourcing power from renewable energy sources,” said NTPC in a Twitter post.
- The Memoranda of Understanding (MOU) was signed at Western command headquarters, Chandimandir, Haryana on 8 September 2022.
- According to a statement issued by the Western Command, the new move will decarbonize upto 38 percent of the energy portfolio of Western Command, apart from accruing a substantial savings to the exchequer.
- The solar energy will be sourced from Sholapur in Maharashtra.
NTPC Renewable energy capacity :
- Presently, NTPC has 2.3 GW of commissioned renewable capacity.
- The NTPC Group plans to achieve 60 Giga Watt of renewable energy by 2032.
- NTPC recently commissioned India’s largest floating solar plant at Ramagundam, Telangana. It is a 100 MW plant.
ADDITIONAL INFORMATION -
Command structure of the Indian Army :
- The Headquarter of the Indian Army is at New Delhi with the President being the Commander in Chief of the Army.
- Headquarters of the Indian Army: New Delhi
- Chief of Army Staff: General Manoj Pande
- The Indian Army has 6 operational commands and one Training command. Each command is headed by a General Officer Commanding in Chief with the rank of Lieutenant General.
Command | Headquarters |
Western Command | Chandimandir (Haryana) |
Eastern Command | Kolkata (West Bengal) |
Southern Command | Pune(Maharashtra) |
Northern Command | Udhampur(Jammu ) |
Central Command | Lucknow (Uttar Pradesh) |
South -Western Command | Jaipur (Rajasthan ) |
Army Training Command | Shimla(Himachal Pradesh) |
Army Day is observed on 15 January every year.
6. Nirmala Sitharaman inaugurates conference of Indian Council for Research on International Economic Relation
Tags: place in news Summits Person in news
Finance Minister Nirmala Sitharaman inaugurated a conference of Indian Council for Research on International Economic Relation in New Delhi on 8 September 2022.
The Indian Council for Research on International Economic Relations (ICRIER) is an autonomous, policy-oriented, non-profit think tank based in New Delhi.
Director of ICRIER : Dr Deepak Mishra .
7. India Ideas Summit held in New Delhi
Tags: place in news Economy/Finance Summits
The U.S.-India Business Council India (USIBC) organised its 47th Annual General Meeting and the India Ideas Summit from 6-7 September 2022 at New Delhi.
IMPORTANT FACTS -
- The focus of the summit was on “Maximizing the Next 75 years of US-India Prosperity.
- The USIBC India Ideas Summit and Annual General Meeting has been an important platform for U.S.-India dialogue on commercial and strategic cooperation for over 47 years.
- This year's summit saw the participation of top government speakers such as Minister of External Affairs Subramanyam Jaishankar, Minister of Finance Nirmala Sitharaman, Minister for Education Dharmendra Pradhan and from the American government , Jennifer Granholm, Secretary of Energy, Donald Lu, Assistant Secretary of State for Central and South Asia Affairs.
What does USIBC does ?
- U.S.-India Business Council India (USIBC) is a business lobby group representing American and Indian business to make business between the United States and India easier, more efficient, and more profitable.
- USIBC facilitates meetings between members and key policymakers in the U.S. and Indian governments,
- USIBC President: Atul Keshap(He is an American)
8. Prime Minister inaugurates the ‘Kalam no Carnival’ Book Fair virtually
Tags: place in news Summits State News
The Prime Minister, Narendra Modi addressed the inauguration ceremony of ‘Kalam no Carnival’ Book Fair organised by Nav Bharat Sahitya Mandir in Ahmedabad via video message on 8 September 2022.
The Prime Minister expressed delight that the tradition of the book fair started by 'Nav Bharat Sahitya Mandir' in Ahmedabad is getting richer with each passing year.
The Prime Minister added that 'Kalam no Carnival' is a huge convention of books in Hindi, English and Gujarati languages.
9. Govt to establish 3 lakh Primary Agricultural Credit Societies in next 5 years: Amit Shah
Tags: place in news Summits Economics/Business Person in news
The Union Home and Cooperation Minister Amit Shah said that the central government has set a target to establish3 lakh Primary Agricultural Credit Societies (PACS) in the next 5 years.
He was speaking at the two-day (8 &9 September) National Conference of State Cooperation Ministers in New Delhi, on 8 September 2022.
He also said that a committee has been constituted to draft national cooperative policy for holistic development.
He said that every state will have representation in it and former Union Minister Suresh Prabhu will head the committee.
The Cooperation Minister said, currently there are 65 thousand active Primary Agricultural Credit Societies PACS in the country.
IMPORTANT FACTS -
Primary Agricultural Credit Societies (PACS) :
- Primary Agricultural Credit Societies are outside the Banking Regulation acts and they are regulated by the State governments not Reserve Bank of India.
- They are the third tier of the short term credit structure in the rural areas with State Cooperative Banks at the top with the District Central Cooperative Bank (DCCB) at the Middle and PACS at the bottom.
- The PACS are formed at the village level by the villagers. The members contribute to the capital of the societies.
- The PACS cannot accept the deposits of non-members nor can they provide loans to non-members.
- They provide loans only to their members only for agricultural and allied activities.
- There are 95995 PACS in India (source RBI) and around 65 thousands are active.
10. Wildlife Board Approves New IAF Base in Ladakh
Tags: place in news Defence State News
The Indian Air Force (IAF) will soon get a new base in Ladakh.
IMPORTANT FACTS -
- According to a report published in the Economic Times on 8 September 2022, the Standing Committee of the National Board of Wildlife, which is led by Union environment minister Bhupender Yadav has approved the proposal.
- The new base will be built on 500 hectares of land in the Changthang sanctuary area, right next to the Line of Actual Control (LAC).
- The need to boost the IAF presence in the region was felt after the rapid development of airfields and bunkers by the Chinese along the LAC in the area.
- In June 2020 there was a border clash in Ladakh, between the two armies leading to the death of 20 Indian soldiers and a number of Chinese soldiers.
- The Changthang sanctuary area is a cold desert sanctuary in Leh district. It is home to Tibetan wild Ass, Kiang and the rare black necked cranes.
- Since it is a cold desert sanctuary, permission from the Environment ministry was necessary.
Air Force Airfield in the region :
- The key air base of the IAF is in Leh. It has had Advanced Landing Ground facilities at Fukche since the 1960s besides Daulat Beg Oldie, Thoise and Nyoma.
