current affairs July 1

current affairs July 1-Goods and Services Tax (GST) Day is a significant event in India’s economic calendar, celebrated annually on July 1.

1. Bollywood actor Amitabh Bachchan is the brand ambassador for GST in India.
2. National Doctor’s Day in India is observed on July 1 every year.
3. New Criminal Laws: The Bharatiya Nyaya Sanhita, 2023, Bharatiya Nagarik Suraksha Sanhita, 2023, and Bharatiya Sakshya Adhiniyam, 2023, will be implemented starting July 1, 2024. The Indian government has been actively engaging with States and Union Territories to ensure they are prepared in terms of technology, capacity building, and awareness for the new law.

1. Bharatiya Nyaya Sanhita (BNS) 2023: This is the new criminal code of India, replacing the Indian Penal Code (IPC) from the British era. It was enacted on July 1, 2024, after being passed by the parliament in December 2023. The BNS consists of 358 sections, compared to the 511 sections of the IPC. It introduces 20 new crimes, increases imprisonment sentences for 33 crimes, raises fines for 83 crimes, and mandates minimum punishments for 23 crimes.
2. Offences in BNS 2023:
   • Against the body: Includes murder, abetment of suicide, assault, and grievous hurt, with new additions like organized crime and terrorism.
   • Sexual offences against women: Retains provisions on rape, voyeurism, stalking, and insulting modesty, with an increased age threshold for gang rape victims from 16 to 18 years.
   • Against property: Includes theft, robbery, burglary, and cheating, with new offences like cybercrime and financial fraud.
   • Against the state: Removes sedition, introducing a new offence for acts endangering India’s sovereignty, unity, and integrity.
   • Against the public: Adds new offences such as environmental pollution and human trafficking.

ocurrent affairs July 1- Highlights of the New Criminal Law:

1. The BNS will replace the IPC, featuring 356 sections instead of 511, with 175 sections modified, 8 new sections added, and 22 sections repealed.
2. Incorporates advanced technologies, expanding the definition of documents to include electronic records, emails, server logs, and more, which can be used in courts.
3. Provisions for digitizing the entire legal process from FIR to judgment, with video conferencing for court appearances.
4. The new laws mandate videography during search and seizure operations, ensuring that this footage becomes part of the case file. This measure aims to protect innocent citizens from wrongful accusations. A charge sheet will only be valid if it includes this recording.
5. The Government plans to establish the National Forensic Science University, which will produce 33,000 forensic science experts and scientists annually after three years. These laws aim to increase the conviction rate to over 90%. To achieve this, a key provision requires forensic teams to visit crime scenes for offences punishable by seven years or more.
6. The new laws introduce ‘Zero FIR’ (e-FIR) to enhance citizen convenience. This allows individuals to file complaints regardless of the location of the crime. The complaint must be forwarded to the relevant police station within 15 days of registration.
7. In cases of sexual violence, the victim’s statement is now mandatory, and video recording of the statement is required in cases of sexual harassment. Police must update the complainant on the status of their complaint within 90 days and every 15 days thereafter. No government can withdraw a case involving imprisonment of seven years or more without hearing the victim, safeguarding citizens’ rights.
8. For the first time, community service is introduced as a punishment. The scope of summary trials for minor cases has been expanded to include offences punishable by up to three years. A 90-day time limit is set for filing charge sheets, with the possibility of a further 90-day extension granted by the court.
9. The government must decide on granting permission for trials against civil servants or police officers within 120 days, or it will be considered automatically granted.
10. A new provision criminalizes sexual intercourse based on false promises of marriage, employment, promotion, or false identity. In cases of gang rape, a punishment of 20 years or life imprisonment is mandated. For girls under 18, the death penalty is also an option. For mob lynching, the penalties include seven years, life imprisonment, or the death penalty. Additionally, new provisions address mobile phone or chain snatching from women.

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4. India’s GI Tag Journey: The journey began with Darjeeling tea, renowned for its unique flavor and aroma. Darjeeling tea was the first product in India to receive a GI Tag in 2004.
5. World Bank’s Low-Carbon Energy Financing: The World Bank has approved an additional $1.5 billion to support India’s low-carbon energy development. This funding aims to enhance the market for green hydrogen, electrolysers, and renewable energy. The initiative aligns with India’s National Green Hydrogen Mission and targets for energy transition, including 500 GW of installed renewable energy capacity by 2030 and achieving net zero by 2070.

Background

• First Round of Funding (June 2023): The World Bank initially provided a $1.5 billion loan for the First Low-Carbon Energy Programmatic Development Policy Operation. This supported waivers for transmission charges in green hydrogen projects, annual renewable energy tenders of 50 GW, and the establishment of a national carbon credit market framework.

Objectives of the Second Round

• Green Hydrogen Market: Increase the production and consumption of green hydrogen.
• Electrolyser Production: Support the manufacturing of essential technology for green hydrogen production.
• Renewable Energy Penetration: Promote battery energy storage solutions and update the Indian Electricity Grid Code for better integration of renewable energy.

Expected Outcomes

• Green Hydrogen Production: Achieve 450,000 metric tonnes of green hydrogen annually from FY25-26.
• Electrolysers: Produce 1,500 MW of electrolysers annually from FY25-26.
• Emissions Reduction: Reduce emissions by 50 million tonnes annually.
• Renewable Energy Capacity: Significantly increase renewable energy capacity.

Strategic Importance

• National Green Hydrogen Mission: Supports the ₹17,000-crore mission to promote electrolyser and green hydrogen manufacturing.
• Private Sector Investment: Encourages private investment in green hydrogen and renewable energy.

Financial Structure

• Loan and Credit: Includes a $1.46 billion loan from the International Bank for Reconstruction and Development (IBRD) and a $31.5 million credit from the International Development Association (IDA).

Statements from the World Bank

• Auguste Tano Kouame, World Bank Country Director for India: Highlighted the support for India’s low-carbon development strategy and the creation of clean energy jobs.
• Operation Team Leaders: Noted significant private sector interest and alignment with India’s energy security and the Bank’s Hydrogen for Development (H4D) partnership.
• The Reserve Bank of India (RBI) has raised the aggregate Ways and Means Advances (WMA) limit for State governments and Union Territories (UTs) by 28%, from ₹47,010 crore to ₹60,118 crore, effective July 1, 2024¹. This adjustment, based on recommendations from a group of State Finance Secretaries and recent expenditure data, aims to assist States and UTs in managing temporary cash flow mismatches.
  • WMA Types and Repayment:
    • Normal WMA: Unsecured advances repayable within three months.
    • Special WMA: Secured advances against Government of India dated securities.
  • Special Drawing Facility (SDF):
    • The SDF, linked to investments in marketable securities and Auction Treasury Bills (ATBs), will continue under the existing framework. The maximum SDF limit against investments in the Consolidated Sinking Fund (CSF) and Guarantee Redemption Fund (GRF) will be 50% of the lower value between the outstanding balance as of the last date of the second preceding quarter and the current balance in CSF/GRF.
  • SDF Limits for ATBs:
    • For investments in ATBs, the SDF limit is set at 50% of the lower value between the outstanding balance in ATBs (91/182/364 days) as of the last date of the second preceding quarter and the current ATB balance.
  • Implementation and Review:
    • This revision follows the RBI’s April 2022 review of SDF, WMA, and Overdraft (OD) schemes
• The Financial Services Institution Bureau (FSIB) has appointed Challa Sreenivasulu Setty as the next chairman of the State Bank of India (SBI). He will succeed Dinesh Khara, who will retire upon reaching the age limit of 63 in August 2024. Ashwini Tiwari and Vinay Tonse were also contenders for the position.
• India produced over 3.1 million metric tons of garlic, making it one of the largest garlic producers globally. This significant output is driven by states like Madhya Pradesh, Gujarat, and Rajasthan, which have favorable climatic conditions and dedicated farming practices. Madhya Pradesh leads with a production of 2,016.13 metric tons, highlighting its crucial role in both domestic and international garlic markets.
• Tata Group has retained its position as India’s most valuable brand, with a value of US$ 28.6 billion, marking a 9% increase from the previous year. Infosys ranks second, and HDFC Group has surged to third place following its merger with HDFC Ltd. Tata Group is close to becoming the first Indian brand to reach the US$ 30 billion mark. Taj remains India’s strongest brand, with a Brand Strength Index (BSI) score of 92.9 out of 100 and an AAA+ rating. The telecom sector saw a 61% growth in brand value, driven by Jio, Airtel, and Vi, while the banking sector reported a 26% increase, with SBI as India’s second most valuable bank. Westside is the fastest-growing Indian brand, with a 122% increase in brand value, followed by Motherson at 86% and Sonata Software at 83%. Hexaware is the fastest-growing brand in the IT services sector, with a 20% increase in brand value. The mining, iron, and steel sectors saw a 16% growth due to infrastructure and manufacturing investments.
• Star Indian all-rounder Ravindra Jadeja has announced his retirement from T20 internationals following India’s T20 World Cup 2024 victory. He concluded his T20 international career on a high note with the World Cup trophy.
• Books on M. Venkaiah Naidu: On June 30, Prime Minister Narendra Modi released three books on the life and journey of former Vice President M. Venkaiah Naidu via video conferencing. The event, held at Anvaya Convention Centre in Gachibowli, Hyderabad, coincided with Naidu’s 75th birthday. The books are:
  • “Venkaiah Naidu: Life in Service” by S. Nagesh Kumar, former Resident Editor of The Hindu, Hyderabad edition.
  • “Celebrating Bharat: The Mission and Message of Shri M. Venkaiah Naidu as 13th Vice-President of India”, a photo chronicle compiled by Dr. I.V. Subba Rao, former Secretary to the Vice-President of India.

Prime Minister Modi praised Naidu’s 75 years as extraordinary and filled with significant milestones, stating that the books would inspire people and guide them in serving the nation.

• Iran’s Pistachio Production: Iran is the world’s leading producer of pistachios, with an impressive output of 551,372 tonnes. This dominance is attributed to its extensive agricultural land and favorable climate. 
• New Criminal Laws in India: On July 1, 2024, three new criminal laws came into effect across India: the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita, and Bharatiya Sakshya Adhiniyam. 
• Ravi Agrawal Appointed CBDT Chairman: Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), succeeding Nitin Gupta. 
• Baghelkhand Districts in Uttar Pradesh: The Baghelkhand region in Uttar Pradesh includes Sonbhadra, known for its mineral resources, and the eastern part of Prayagraj, which is historically significant for its cultural heritage.
• Union Premier Branches: Union Bank of India has launched “Union Premier” branches aimed at high-value customers in rural and semi-urban markets. These branches offer personalized banking services and a comprehensive range of products under one roof.

eSankhyiki Portal: The Ministry of Statistics and Programme Implementation (MoSPI) has launched the eSankhyiki portal to enhance data accessibility and user experience. This platform aims to centralize and streamline access to key national statistical data, benefiting planners, policymakers, researchers, and the public.

Ravi Agrawal Appointed CBDT Chairman: Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), succeeding Nitin Gupta. His term extends until June 2025, with a reappointment on a contract basis to ensure continuity in the CBDT’s policy framework