Daily Current Affairs, 19th September 2024, Important News Headlines (Daily GK Update)
stay connected for the most significant current affairs of September 19, 2024, to remain informed about the most recent national and international news, significant developments, and key events.
National News
The Union Cabinet has approved the recommendations for simultaneous elections (One Nation One Election — ONOE).
The recommendations of the High-Level Committee on Simultaneous Elections (One Nation One Election – ONOE) under the chairmanship of former President Shri Ram Nath Kovind have been implemented by the Union Cabinet, which is presided over by Prime Minister Shri Narendra Modi.
Science & Technology News
The CHANDRAYAAN-4 Mission was approved by the Cabinet.
The new moon mission, “Chandrayaan-4,” was approved by the Union Cabinet, which is chaired by Prime Minister Narendra Modi. The mission’s objectives are to acquire moon samples and analyze them on Earth, as well as to develop and demonstrate the technologies necessary to return to Earth after a successful Lunar landing.
India will establish its own space station for scientific investigation with the launch of its first module in 2028.
By expanding the scope of the Gaganyaan program, the union cabinet, led by the Honorable Prime Minister Shri Narendra Modi, has authorized the construction of the inaugural Bharatiya Anatriksh Station (BAS) unit.
India has its sights set on Venus as its next scientific objective, following the Moon and Mars.
The development of the Venus Orbiter Mission (VOM) has been approved by the Union Cabinet, which is convened by Prime Minister Shri Narendra Modi. This initiative will represent a substantial development in the Government’s pursuit of the exploration and study of Venus, which is beyond the moon and Mars.
The Chandrayaan-4 and Venus Orbiter missions have been approved by the Cabinet for space exploration.
Chandrayaan-4, which is designed to collect lunar samples for analysis and develop technologies for returning to Earth after landing on the moon, has been approved by the Union Cabinet. The cost of the mission is Rs 2104.06 crore, which includes the development of spacecraft, the support of the deep space network, two LVM3 launches, and special validation tests. The mission will be concluded within 36 months, with substantial involvement from academia and industry.
New low-cost, reusable launch vehicle for Bharat
The next generation launch vehicle (NGLV) has been approved by the Union Cabinet, which is chaired by Prime Minister Shri Narendra Modi. This approval is a significant step toward the government’s goal of establishing and operating the Bharatiya Antariksh Station and developing the capability for Indian Crewed Landing on the Moon by 2040.
Summits and Conferences
There is an agreement between the European Union and India to enhance their collaboration in the field of sustainable water management.
In New Delhi, the 6th EU-India Water Forum, which was conducted concurrently with the 8th India Water Week, resulted in an agreement between India and the European Union (EU) to intensify their collaboration in sustainable water management.
Latest Business News India Emerges as the sixth-largest market in the MSCI ACWI
India has surpassed China and is now the sixth largest market in the MSCI All Country World Investable Market Index (ACWI IMI), with France trailing narrowly behind. As of August 2024, India’s weight in the index is 2.35%, surpassing China’s 2.24%. France is only 3 basis points clear of India. In the MSCI ACWI IMI, India has become the largest emerging market (EM) for the first time.
New Schemes
The Bio-RIDE Scheme Receives Approval from the Cabinet to Foster Research and Development in Biotechnology
The Union Cabinet has authorized the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme, which is intended to stimulate biotechnology research, innovation, and entrepreneurship. The scheme will be funded with ₹9,197 crore during the 15th Finance Commission period (2021-22 to 2025-26).
Economic Updates India’s exports to China are declining at a faster pace than those to other partners.
India’s exports to China decreased by 22.44% to $1 billion in August, while overall exports decreased by 9% to $34.7 billion. This decline was primarily due to muted demand, geopolitical concerns, and logistical challenges that were present during a significant slowdown in China. Nevertheless, China continues to be India’s fifth-largest export market, despite the contraction. The country’s imports from China are still significantly dependent on the country, with a 15.5% year-over-year increase to $10.8 billion during the same period.
The Cabinet has approved the proposals for “One Nation, One Poll” and significant agricultural-space initiatives.
A total outlay exceeding ₹60,000 crore has been approved by the Union Cabinet for a number of critical proposals, spanning areas from agriculture to space exploration. In addition, the highly anticipated “One Nation, One Poll” policy, which facilitates simultaneous elections throughout India, was also received approval. Furthermore, the PM-AASHA initiative was overhauled to guarantee Minimum Support Prices (MSP) for farmers, with a ₹35,000 crore budget. A subsidy of ₹24,474.53 crore on phosphatic and potassic (P&K) fertilizers for the 2024-25 rabi season was also approved by the Cabinet.
By 2030-31, India is to become the third-largest economy.
S&P Global, the credit rating agency, stated in its report “India forward Emerging Perspectives” that India is on course to become the third largest economy by fiscal 2030-31, with a robust projected annual growth rate of 6.7%.
Rupees 12,554 crore were sanctioned by the Modi 3.0 government for disaster relief.
For the purpose of providing relief and rehabilitation to those impacted by natural disasters, the Central government has allocated Rs 12,554 crore to a variety of states this year. Funding from numerous disaster relief and mitigation funds is included in this.
The Atal Pension Yojana (APY) has 69 million subscribers and a corpus of Rs 35,149 crore.
As per Finance Minister Nirmala Sitharaman’s announcement, the Atal Pension Yojana (APY) has garnered a corpus of Rs 35,149 crore from approximately 7 crore subscribers. A low-cost pension scheme, the APY, was introduced in 2015 and offers a guaranteed minimum pension of Rs 1,000 to Rs 5,000 per month, contingent upon the contributions made by subscribers. The pension is extended to the spouse for life in the event of the subscriber’s death. Upon the demise of both persons, the nominee obtains the entire corpus.
Daily Current Affairs, 19th September 2024 MCQ
Q1: What recommendation did the Union Cabinet approve regarding elections?
Answer: The Union Cabinet approved the recommendations for simultaneous elections (One Nation, One Election — ONOE), based on the High-Level Committee chaired by former President Shri Ram Nath Kovind.
Q2: What is the Chandrayaan-4 mission, and what are its objectives?
Answer: The Chandrayaan-4 mission, approved by the Union Cabinet, aims to collect moon samples and analyze them on Earth. The mission will also develop technologies required for returning to Earth after a successful lunar landing.
Q3: When will India launch its first space station module, and what is its purpose?
Answer: India plans to launch its first space station module in 2028, focusing on scientific investigations.
Q4: What is the next celestial body that India aims to explore after the Moon and Mars?
Answer: India aims to explore Venus as its next scientific objective, with the approval of the Venus Orbiter Mission (VOM).
Q5: What is the focus of the new low-cost, reusable launch vehicle approved by the Cabinet?
Answer: The new low-cost, reusable launch vehicle (NGLV) approved by the Cabinet will play a key role in establishing and operating the Bharatiya Antariksh Station and developing the capability for an Indian crewed landing on the Moon by 2040.
Q6: What agreement was made between the European Union and India in the area of water management?
Answer: The European Union and India agreed to enhance their collaboration in the field of sustainable water management during the 6th EU-India Water Forum and 8th India Water Week.
Q7: What notable achievement did India make in the MSCI ACWI index?
Answer: India emerged as the sixth-largest market in the MSCI All Country World Investable Market Index (ACWI IMI), surpassing China, and becoming the largest emerging market for the first time.
Q8: What is the Bio-RIDE scheme, and what is its purpose?
Answer: The Bio-RIDE scheme, approved by the Union Cabinet, is designed to foster research, innovation, and entrepreneurship in biotechnology, with a funding of ₹9,197 crore during the 15th Finance Commission period.
Q9: How are India’s exports to China performing, and what are the challenges?
Answer: India’s exports to China decreased by 22.44% in August, primarily due to muted demand, geopolitical concerns, and logistical challenges, though China remains India’s fifth-largest export market.
Q10: What significant policy related to simultaneous elections did the Union Cabinet approve?
Answer: The Union Cabinet approved the “One Nation, One Poll” policy, facilitating simultaneous elections throughout India.
Q11: What economic prediction was made for India by S&P Global?
Answer: S&P Global predicts that India will become the third-largest economy by fiscal 2030-31, with an annual growth rate of 6.7%.
Q12: How many subscribers does the Atal Pension Yojana (APY) have, and what is the corpus amount?
Answer: The Atal Pension Yojana (APY) has 69 million subscribers and a corpus of ₹35,149 crore.
